FG Summons Dangote, Bua, Others Over Rising Price of Cement

Nigeria’s federal government has summoned manufacturers over the constant in the price of cement.

Daily Report Nigeria reports that government called for an urgent meeting with prominent producers of cement through the Minister of Works, David Umahi.

The summon follows the minister’s expression of concern over the significant rise in the cost of cement even in the face of substantial patronage by road and housing contractors.

The meeting scheduled to take for Monday, February 19, 2024, at the Ministry’s Conference Hall in Mabushi, Abuja have prominent cement manufacturers including Dangote Plc, BUA Plc, Lafarge, and others as invitees.

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The summon was contained in a statement signed by the Umahi’s Special Adviser (Media), Orji Uchenna Orji.

The meeting aims at address the widening disparity between the ex-factory price and the market price of cement.

The statement partly read: “The Honourable Minister of Works, His Excellency, David Umahi CON, has summoned an urgent meeting of all cement manufacturers in Nigeria.

“Those invited are Dangote Plc, BUA Plc, Larfarge, and others.”

“It is common knowledge that the manufacturers have their challenges, which we shall look into, but from our findings, the disparity between ex-factory price and the market price is wide.

“We therefore need to look into the situation and other issues with a view to finding a common front.”

The move comes as the government seeks to understand the factors contributing to the surge in cement prices and work collaboratively with industry stakeholders to mitigate the impact on construction and infrastructure development projects