₦airaland Forum

The Federal Government has urged cement manufacturers to lower prices to N7,000, citing improved economic conditions.

This call was made by the Minister of Works, Sen. Engr. Nweze David Umahi, during a meeting at the Ministry’s headquarters in Abuja on February 26, 2025, according to a statement on the ministry’s website.

Umahi noted that the naira has stabilized at about N1,400 per dollar, and petrol prices have dropped, creating a conducive environment for reduced cement costs.

He criticized the current price of N9,500, pointing out that manufacturers increased prices when the dollar was nearly N2,000 but have not adjusted them despite the naira’s recovery.

“Today, a dollar is about N1,400. And let me use the opportunity to express dissatisfaction with the cost of cement.

“We are using this medium to tell the cement manufacturers that at the time, the dollar was almost N2,000, they increased cement from N7,500. Why should today when the President has brought the dollar to stability to about N1400, and is still going down, why should cement be selling for N9,500? We are requesting cement manufacturers to bring down the cost of cement to N7,000,” Umahi stated.

The Works Minister stressed that affordable cement is vital for constructing Continuously Reinforced Concrete Pavements and completing key infrastructure projects.

He revealed that some contractors are considering a switch back to asphalt due to high cement costs. Umahi warned that if prices were not reduced within a week, he would escalate the matter to President Bola Tinubu.

Racoon:
The constricting and economically unfeasible government policies of tariffs increment, forex fluidity and stiff manufacturers competition among many are affecting cost of production Hence, can't dictate price of commodities like cement.

zero8zero:
It is fuel Importation from marketers that's forcing Dangote to cut down pump price, otherwise, fuel price would have been higher. Those calling for Importation to stop, better think it twice.
Besides, the raw materials for cement are here in the country, so why is it that high?

Racoon:
The constricting and economically unfeasible government policies of tariffs increment, forex fluidity and stiff manufacturers competition among many are affecting cost of production Hence, can't dictate price of commodities like cement.

Richtaiwo:
Dis one go just dey jump from one thread to another dey type nonsense up and down. Now, what exactly is the sense in this bulshit.

Govt says "amid improved economic conditions". So which one come be constricting and economically unfeasible govt policy, forex fluidity again?

Jokerman:
Before Tinubu entered Cement was 2500/3500 at most.

So if Tinubu doesn't bring it down to that level, he's still a failure.

Godfullsam:
There is no proper price control mechanism in Nigeria.

Those greedy manufacturers won't bring down the price except there is boycott or stiff competition/importation .