Cement Price: N7/8k, other agreements FG reached with Dangote, Bua, Lafarge

Cement Price: FG Lists 6 Key Agreements Reached with Dangote, Bua, Lafarge – TheTalk.NG

• The federal government has listed six agreements reached with cement manufacturers after their closed-door meeting in Abuja
• The Honourable Minister of Works, Sen. Engr. Nweze David Umahi Dangote, Bua, Lafarge over the high cost of cement in the country
• According to a communique from the ministry of work, both parties after the meeting agreed to reconvene in 30 days to review the progress made

FG and cement manufacturers agreed to slash price to N7/8
Photo credit: @FMWNIGSource: Twitter

• The challenges cement manufacturers are facing

• The federal government noted the challenges and agreed to take necessary actions.
• The cement manufacturers and the Government agreed that the current high price of cement is abnormal. Hence, cement manufacturers agreed that cement cost would not be more than between ₦7,000.00 and ₦8,000.00/50kg bag depending on the location.
• The cement manufacturers agreed to set up a price monitoring mechanism to ensure compliance and sanction distributors or retailers found wanting.
• The Federal government said it expects the agreed price to drop after securing the government’s interventions on the challenges of the manufacturers
• Both parties agreed to reconvene in 30 days to review the progress made.

Cement producers give conditions for crashing price

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