• Wednesday, May 29, 2024
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BusinessDay

Umahi summons cement manufactures over hike in price

Federal government of Nigeria through works Minister, David Umahi has summoned Cement Manufactures in the country to a meeting following the hike in price of the product.

The meeting with the Minister aimed at looking into the challenges that lead to the latest hike in price is scheduled for Monday February 19th, 2024 at the Federal Ministry of Works, Mabushi-Abuja, 1 pm .

Those invited to the urgent meeting include Dangote Plc, BUA Plc, Larfarge and other manufacturers.

According to a statement by the Special Adviser (media) to the Minister, Uchenna Orji, Umahi was “Worried by the escalating cost of cement despite huge patronage by road and housing contractors to cement manufacturers.

Umahi was further quoted saying “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”