In response to widespread public concern over the soaring prices of cement, major manufacturers, including Dangote, BUA, and Lafarge, engaged in a meeting with the Federal Government. The gathering, spearheaded by the Minister of Works, David Umahi, and attended by the Minister of Industry, Trade, and Investment, Uzoka-Anite, aimed to address the nationwide outcry over the recent surge in cement prices.
Despite an agreement to cut prices by approximately 50%, the impact remains elusive as reports indicate that cement is still being sold at rates close to those observed before the meeting.
Currently priced between N10,000 and N14,000 per bag, the article explores the factors contributing to the persistent rise in cement prices, shedding light on the economic challenges and market dynamics influencing this essential construction material.
