In a significant development, cement manufacturers have unanimously agreed to slash the price of the product to a range between N7,000 and N8,000 per 50kg, varying by location nationwide.

This groundbreaking decision transpired during a pivotal meeting convened by the Minister of Works, David Umahi, with cement manufacturers in Abuja on Monday, February 19. The gathering aimed to delve into the root causes behind the sudden surge in commodity prices.

Notably, the manufacturers present exhibited a resolute willingness to cooperate, pledging to lower prices in the future once the federal government’s interventions are realized.

In a bold move, the federal government has further announced its resolve to foster the emergence of six new cement manufacturers. This strategic initiative seeks to foster competition and enhance market dynamics, ultimately driving down the price of cement across the nation.

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