FG, others finally agree on real price of 50kg cement

Cement producers and the government have observed that the current high cost of cement is unusual

Doris Nkiruka Uzoka-Anite, Minister of Industry, Trade, and Investment, has requested that cement makers be granted the same gas concession that electricity firms already have.

She said this would help address the increased operating costs that led to the product.

At a joint House of Representatives’ committee hearing on solid minerals, industry, commerce, and special duties, Uzoka-Anite made this statement under the direction of Ambassador Nura Rimi, the permanent secretary in her ministry.

The minister pointed out that the recommendation was made during a recent meeting between the minister of works, Engr. David Umahi, and significant cement-producing enterprises.

She said: “There is need for friendly gas pricing. The meeting recommended the gas-to-power concession given to the electricity companies should also be enjoyed by cement companies.”

Vanguard reported that she listed a number of difficulties that cement producers face, such as high foreign exchange rates, petrol prices, hefty import taxes on replacement components, an inadequate road network, and cement smuggling to nearby countries.

New cement price

According to Uzoka-Anite, cement producers and the government have observed that the current high cost of cement is unusual in some parts of the country.

They generally concluded that the retail price of cement should not exceed N7,000 to N8,000.00 per 50kg bag, depending on the region.

She said that the manufacturers had voluntarily agreed to do so and to penalise any of her distributors or retailers found to be in violation of the government’s advice to establish a price monitoring system to assure compliance.

She mentioned that the nation has large cement companies, including Lafarge Holcin, BUA Group, and Dangote Industries Limited, and that the industry is self-sufficient.