Minister of Works David Umahi called on cement manufacturers to reduce prices immediately. He made the demand during a meeting at the ministry headquarters in Abuja. The minister highlighted recent stabilisation of the naira and falling fuel costs as key reasons for the adjustment.
David Umahi criticised manufacturers for keeping high prices despite economic gains. He noted that cement prices rose from N7,500 when the dollar exchanged at nearly N2,000. The minister pointed out that the naira had since strengthened significantly.
“We are requesting cement manufacturers to bring down the cost of cement to N7,000,” David Umahi stated. He added that failure to act within one week would lead him to escalate the matter to President Bola Tinubu for further intervention.
The high cost of cement affected ongoing infrastructure projects across Nigeria. David Umahi emphasised that lower prices would support government efforts to rehabilitate roads and deliver affordable housing. He urged manufacturers to reflect current economic realities in their pricing strategies.
David Umahi stressed the need for immediate action from major producers including Dangote Cement, BUA Cement, and Lafarge. He warned that continued high prices undermined national development goals. The minister also referenced previous meetings where manufacturers agreed to price ranges between N7,000 and N8,000 depending on location.
Industry stakeholders awaited responses from the manufacturers following the strong directive. The development formed part of broader government efforts to ease living costs for Nigerians engaged in construction activities. Officials continued to monitor market prices closely in the days after the meeting.
