Cement Price Expected to Decrease to N7000

“Nationwide Celebrations as Cement Price Plummets from N13,500 to N7,000!!!

Cement manufacturers have unanimously agreed to reduce the price of cement to a range between N7,000 and N8,000 per 50kg bag across the country. This significant price adjustment follows a collaborative effort spearheaded by the Minister of Works, David Umahi, alongside counterparts from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite. The meeting, held in Abuja on Monday, February 19, aimed to address the recent surge in commodity prices and explore solutions. Manufacturers have pledged their commitment to lowering prices further once the government’s interventions are fulfilled. BUA Industries has also announced plans to introduce 6 million tons of cement into the market to help stabilize prices. Additionally, the federal government has expressed its support for the entry of six new cement manufacturers, signaling a positive outlook for the industry.”