The cement industry in Nigeria faces a big challenge: constantly rising prices. Works Minister David Umahi has called an emergency meeting with the country’s major cement manufacturers, scheduled for February 19, 2024.
The meeting, which will bring together companies such as Dangote Plc, BUA Plc, Lafarge and other manufacturers, aims to examine the reasons for the increase in prices despite high demand.
According to Umahi’s Special Adviser on Media, Uchenna Orji, the minister is concerned about the wide gap between the ex-factory price and the market price. He said: “Manufacturers are facing difficulties, but the huge price difference between factory and market requires urgent attention.”
Last week, the price of a bag of cement reached as high as N15,000 in Abuja, while it was selling for around N10,000 elsewhere in the country. This increase worries stakeholders, fearing job losses and an increase in the number of homeless people.
This meeting is crucial to find solutions together and avoid negative socio-economic impacts. The stakes are high, and the decisions made at this meeting will directly impact many people across the country.
It is time for the cement industry to collaborate constructively to ensure price stability and the well-being of Nigerians.