Business
Return Cement To Old Prices – Tinubu Tells Manufacturers
as part of concerted efforts to cushion the effects of the rising cost of living.
President Bola Ahmed Tinubu has ordered manufacturers to return cement to old prices that were in place – before the recent hike.
The Minister of Works Dave Umahi made the revelation on Thursday after inspecting the BUA Cement factory in Sokoto state.
Umahi explained that President Tinubu gave the directive as part of concerted efforts to cushion the effects of the rising cost of living.
“I want to encourage them to abide by the directive of Mr. President so that we can achieve massive housing programme and the renewed hope agenda of concrete roads of by the President,” Umahi stated according to a report by Daily Trust.
Speaking on what he saw at the BUA Cement factory as it relates to efforts to increase the production of cement to aid its availability and impact price reduction, the Minister stated “When the chairman of the company (Abdul Samad Rabiu) visited Mr President last week, he assured that the 5th line will soon commence operation and with my visit here, I can confirm the 5th line, though waiting to be commissioned has already commenced operation.”
The Minister at the BUA Cement Factory in the company of the Senate committee chairman on Housing, Senator Aminu Tambuwa commended the company for the cleanliness of its environment and the use of cleaner and efficient energy.
Before the prices soared to over N9,000, a bag of cement cost between N4,000 to N5,500.
BUA Cement took a bold step to alleviate the pains of Nigerians by reducing the price to N3,500 but rather than joining hands with the Pathfinder, competitors reportedly exploited the situation – forcing a stop after about five months.
