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Cement to sell at on N7, 000, N8, 000 as FG, manufacturers agree
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By Francesca Hangeior
The Federal Government and cement manufacturers have agreed on a N7, 000 to N8, 000 per 50 kg bag price of cement to halt the astronomical rise in the price of the product.
This agreement was part of a deal struck after several hours of meeting held behind closed doors at the headquarters of the Ministry of Works, between the Federal Government and cement manufacturers, in Abuja, on Monday.
The manufacturers tentatively agreed to sell a 50kg bag of cement at a retail price between N7, 000 and N8, 000, depending on location nationwide,
They however put a caveat that the price drop from the current market price would largely depend on government fulfilling its promised interventions in certain areas of concern to ameliorate critical challenges faced in the industry.
Retail price for cement jumped from N5,000 to N10,000 within one week in the open market, after wholesalers citing increasing cost of transportation and other variables, made adjustments to the price they sell to retailers.
Retailers in turn transferred the additional cost burden to consumers to stay afloat.
This prompted President Bola Tinubu to order the Ministers of Works, David Umahi and his Trade and Investment counterpart, Dr. Doris Uzoka-Anite. to meet with Cement manufacturers to find a solution to the crisis.
Umahi, had while calling for the meeting expressed the Federal Government’s concern over the development adding that if the situation wasn’t brought under control, it had the potential of hurting the prosperity agenda of rhe current administration .
After the meeting, Umahi read out a communique in which he mentioned concerns raised by the manufacturers.
These concerns include: bad roads, smuggling, high cost of energy, and the Forex crisis. This according to the manufacturers were the primary reasons behind the price hike.
He also said the manufacturers expressed willingness to reduce the prices going forward. Manufacturers at the meeting include: Dangote Cement PLC, BuA Cement PLC, Larfarge Africa PLC and Cement Producers Association.
Representatives of the federal government include the Minister of Works and his counterpart in the Ministry of Industry, Trade and Investment,
While reading the communique, Umahi said: “The meeting noted the challenges of the manufacturers like: cost of gas; high import duty on spare parts; bad road network; high foreign exchange; and smuggling of cement to neighbouring nations.
“The government noted the challenges and reacted as follows: Federal Ministry of Industry, Trade and Investment to seek some remedies from Mr. President on cost of gas and import duties.”
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Finally, IGP approves hunger protests across Nigeria
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The Nigerian police has finally approved the planned nationwide protests and outlined conditions for participants.
The Inspector General of Police, Kayode Egbetokun, revealed this on Friday while addressing journalists in Abuja.
He urged all groups planning to participate in the proposed nationwide protest to submit their details to the Commissioners of Police in their respective states.
The police boss said this was to ensure the protest was peaceful.
Egbetokun said, “We acknowledge the constitutional right of Nigerian citizens to peaceful assembly and protest.
“However, in the interest of public safety and order, we urge all groups planning to protest to provide necessary details to the Commissioner of Police in the state where the protest is intended to take place.
“To facilitate a successful and incident-free protest, they should please provide the following information: state the proposed protest routes and assembly points; expected duration of the protest; and names and contact details of protest leaders and organisers.”
The police boss said the information expected from the organisers also include measures to prevent hijacking by criminal elements, as well as key identifiers for possible isolation of potential troublemakers.
By providing the information, he said, the police will be able to deploy adequate personnel and resources to ensure public safety.
He said the police needed to know the specific routes and areas for the protest to avoid conflicts with other events or activities.
Mr Egbetokun said the police will “establish clear communication channels with protest leaders to address any concerns or issues that may arise; minimise the risk of violence, property damage, or other criminal activity.
“We encourage all protesters to cooperate with the police, obey the law, and adhere to global best practices for peaceful assembly to guarantee a safe and successful exercise of their rights.
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Reps North-West Caucus Beg Youths, Citizens In The Region Not To Join Planned Protest
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Reps Applaud FCT Minister, Wike On AICL Improved Revenue, Infrastructure
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