Cement producers have decided to lower the product’s price to between N7,000 and N8,000 per 50 kg, depending on the area of the country.
In an effort to determine the fundamental causes of the sudden spike in commodity prices, efforts were made on Monday, February 19, in Abuja, during a meeting summoned by Minister of Works David Umahi and attended by his counterparts from the from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite.
The manufacturers present at the meeting said that they would be willing to lower prices in the future as soon as the federal government’s intervention was completed.
In an effort to moderate the rising prices, BUA Industries has revealed plans to introduce 6 million tons of cement into the market.
Additionally, the federal government has stated that it plans to support the entry of six new firms. [CONTINUE READING HERE]
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