Why cement manufacturers must immediately reduce price – FG

The Federal Government has called on cement manufacturers across the country to immediately reduce the price of cement, insisting that the current cost of the product is placing pressure on ongoing infrastructure projects and increasing demands for contract variations.

Minister of Works, David Umahi, made the call while delivering a keynote address at an event in Lagos State on Sunday.

Speaking before industry leaders, investors, and stakeholders, the Minister emphasised that the Federal Government would engage cement manufacturers from July 1 to address the issue of cement prices.

“We shall be engaging on this from First of July. Manufacturers of Cement must reduce their prices because the contractors are choking me to review their contracts.

“But nobody is reviewing anybody’s contract. It’s the manufacturers of cement that should review their costs.”

The Minister urged the manufacturers to enlarge their capacity, stating that the demand is much higher due to ongoing construction.

The market is smaller than what the president is doing. So, enlarge your coast,” he added.