The Federal Government has issued a strong directive to cement manufacturers nationwide, demanding an immediate reduction in the price of cement. According to the authorities, the current high cost is straining ongoing infrastructure projects and leading to increased requests for contract modifications.
Minister of Works, David Umahi, delivered this message during a keynote address at an event in Lagos State on Sunday. He stated that the government would initiate discussions with cement producers starting July 1st to tackle the issue of exorbitant pricing.
“We shall be engaging on this from the first of July. Manufacturers of cement must reduce their prices because contractors are pressuring me to review their contracts,” Umahi said. He added, “But nobody is reviewing anybody’s contract. It’s the manufacturers of cement that should review their costs.”
The minister also urged producers to expand their capacity, noting that demand has surged due to the volume of construction projects underway. “The market is smaller than what the president is doing. So, enlarge your coast,” he remarked.