Umahi Calls Meeting with BUA, Dangote, Lafarge, and Other Cement Makers Over Price Hike Today

Nigerian Minister of Works, Sen David Umahi, has called for an urgent meeting with cement manufacturers in response to the recent price hike of the product. Scheduled for Today, February 19, 2024, at 1 pm in Abuja, the meeting aims to address the challenges leading to the price increase.

Among those summoned to the meeting are major cement manufacturers such as Dangote Plc, BUA Plc, and Larfarge. The Minister’s concern stems from the substantial demand for cement from road and housing contractors juxtaposed with the rising prices.

Uchenna Orji, the Minister’s Special Adviser on Media, stated, “Umahi is concerned about the escalating cost of cement despite significant patronage by contractors. While acknowledging the challenges faced by manufacturers, the disparity between the ex-factory price and the market price is substantial. Thus, there is a need to examine this situation and other related issues to find a resolution collectively.”