Cement: Govt begs producers to reduce price hike

By Johnmark Ukoko

The Federal Ministry of Industry, Trade, and Investment has pleaded with the local cement manufacturers to reduce the price of their product.

The Permanent Secretary of the Ministry Nasiru Gwarzo who made the appeal said that the government is not happy with the price the product is currently sold, adding that the government will do all within their power to help the product Producers bring the price of the Product down.

He lamented that the local Producers of the product late last year jerked the price of the products from N2,400 to N3,800, adding that the “price is unacceptable”.

Gwarzo disclosed that the government was not carry along before the product’s producers increased the price of the product, adding that the government would do all what it takes to ensure the product price is reduced.

“The government is disturbed at the price of a bag of Cement. The government was not informed before the local producers of the product increased the price of the product.

“We will do all what it takes to ensure that the cement producers reduced the price of the product. I can assure Nigerians that the government will do all what it takes to ensure the price of the product is brought down, “he promised.

He charged Nigerians not to “panic buy” the products out of the fear that the product’s price might go up further, adding that he was very sure the price of the product would soon be brought down.

He stressed that the #EndSARS protest which rocked the country in the month of October last year led to the cement’s producers to hike the price of the product.

He assured Nigerians that since the situation that led to the protest and the product’s hike has been addressed the price of the product would soon come down.

Gentechnews checks at Ikorodu, Ketu and Ojota areas, all in Lagos State showed that a 50kg bag which rose to as much as N3,800 has now reduced to N 3,000 as at the time of going to the press at the weekend.