Minister of Works Calls Meeting with Cement Manufacturers to Address Rising Costs

Minister of Works Calls Meeting with Cement Manufacturers to Address Rising Costs

The Minister of Works, David Umahi, has taken proactive steps to address the escalating cost of cement in Nigeria by summoning key industry players to a crucial meeting. Expressing concern over the significant surge in cement prices despite sustained demand from infrastructure and housing projects, Minister Umahi aims to explore solutions to stabilize prices and ensure accessibility for contractors and consumers alike.

In a statement released by the Minister's office, it was revealed that the meeting, scheduled for Monday, February 19, 2024, will convene at the Ministry's Conference Hall in Abuja. The Minister's Special Adviser (Media), Orji Uchenna Orji, emphasized the urgency of the situation and underscored the Minister's commitment to addressing the root causes of the price hike.

The meeting will gather major cement manufacturers, including industry giants like Dangote Plc, BUA Plc, and Larfarge, among others. Minister Umahi emphasized the need for a collaborative approach to tackle the disparity between ex-factory prices and market rates, recognizing the challenges faced by manufacturers while prioritizing the interests of consumers and stakeholders.

With the goal of fostering dialogue and finding common ground, Minister Umahi's initiative signals a concerted effort by the government to mitigate the adverse effects of rising cement costs on critical infrastructure projects and the broader economy. As stakeholders prepare to engage in constructive discussions, expectations are high for meaningful outcomes that will address the pressing concerns and ensure sustainable solutions for the cement industry in Nigeria.

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