The Federal Government says that it has called for an urgent meeting with cement manufacturers over the escalating cost of the product in recent times.
The Minister of Works, Dave Umahi, who summoned the meeting, said that government will look into the challenges faced by these cement manufacturers as well as the disparity between ex-factory price and market price which is huge.
According to a statement by the Media Adviser to the Minister, Orji Uchenna Orji, the government is worried by the rising cost of cement despite huge patronage by road and housing contractors to these cement manufacturers.
Some of the cement manufacturers summoned by the Federal Government for the meeting include Dangote, BUA, Lafarge and others.
The price of cement has been oscillating between N8,000 and N10,000 per bag from about N4,000 a few weeks ago.
Dangote, BUA, and Lafarge are some of the cement manufacturers summoned by the works ministry.
Orji quoted his principal as saying that the disparity between ex-factory price and market price is huge.
“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,” Umahi was quoted as saying.
“We therefore need to look into the situation and other issues with a view to finding a common front.”
Culled from Vanguard