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President Bola Ahmed Tinubu has instructed cement companies in Nigeria to return to their previous prices in response to the recent increase in the cost of the commodity.
The Minister of Works, David Umahi, made this announcement after inspecting the BUA cement factory in Sokoto State. Umahi revealed that President Tinubu emphasized the need for cement prices to be affordable for the common man.
Umahi further urged cement companies to comply with the President’s directive in order to facilitate a massive housing program and the implementation of concrete roads, which are part of the President’s renewed hope agenda.
The sudden spike in cement prices, with bags of cement reaching as high as N10,000 to N15,000 in Abuja from the previous price of N5,000, has also led to an increase in the cost of other building materials.
Last month, the Nigerian government, through the Minister of Housing and Urban Development, Ahmed Dangiwa, issued a warning to cement manufacturers, threatening to open the borders for cement importation if they failed to reduce prices.
This move by President Tinubu is in line with the government’s efforts to ensure that essential building materials remain affordable and accessible to all Nigerians.
