The Federal government has urged cement manufacturers across the country to immediately reduce their prices, insisting that the current cost of the product is placing pressure on ongoing infrastructure projects and increasing demands for contract variations.
The Minister of Works, David Umahi, made the call while delivering a keynote address at an event in Lagos State on Sunday.
Speaking before industry leaders, investors, and stakeholders, the minister emphasised that the Federal government would engage cement manufacturers from July 1 to address the issue of cement prices.
“We shall be engaging on this from 1st of July. Manufacturers of cement must reduce their prices because the contractors are choking me to review their contracts.
“But nobody is reviewing anybody’s contract. It’s the manufacturers of cement that should review their costs.”
The minister urged the manufacturers to enlarge their capacity, stating that the demand is much higher due to ongoing construction.
The market is smaller than what the president is doing. So, enlarge your coast,” he added.