Aduragbemi Omiyale
By Aduragbemi Omiyale
The federal government has summoned the major cement makers in the country—Dangote Cement, BUA Cement, Lafarge Africa, Purechem, and others—to a meeting in Abuja on Monday.
The government wants these cement millers to explain why the prices of the products have remained unstable and have been very difficult for consumers to get them in the last few days.
Business Post reports that in the last two weeks, the price of a 50-kg bag of cement has risen from N5,300 to N15,000 in different parts of the country.
The situation has led some Nigerians to speculate that a few powerful people in the country were using this to sabotage the economy and hold the nation to ransom.
The Minister of Works, Mr David Umahi, worried that the rising price of cement could affect the government, has called for a meeting with the manufacturers.
In a statement issued by his Chief Press Secretary (CPS), Mr Orji Uchenna Orji, the Minister said the cement makers need to explain the reason behind the huge disparity between the ex-factory price and the market price.
“Worried by the escalating cost of cement despite huge patronage by road and housing contractors to cement manufacturers, the Minister of Works, Mr David Umahi, has summoned an urgent meeting of all cement manufacturers in Nigeria,” a part of the statement said.
More worrying is that in some cases, the price of cement in the morning could change by the afternoon and the next day, making it look like a deliberate action.
“It is common knowledge that the manufacturers have their challenges, which we shall look into, but from our findings, the disparity between the ex-factory price and the market price is wide,” the statement added, stressing that, “We, therefore, need to look into the situation and other issues with a view to finding a common front.”
