CurrentReport Blog In a bid to alleviate the burden on the common man and accelerate national development initiatives, President Bola Ahmed Tinubu has directed cement companies in Nigeria to roll back prices to previous levels amidst the recent surge in costs. The directive comes as a response to the alarming hike in cement prices, which have escalated to as much as N10,000 to N15,000 per bag in Abuja, up from N5,000.
The announcement was made by David Umahi, the Minister of Works, following his inspection of the BUA cement factory in Sokoto State. Umahi emphasized President Tinubu’s unwavering commitment to ensuring affordability and accessibility of essential commodities like cement, particularly for housing and infrastructure projects.
“Mr. President insisted that they should go back to the status quo as far as this cement price is concerned for the common man,” stated Umahi. He urged cement manufacturers to comply with the directive to facilitate the realization of ambitious housing programs and the implementation of concrete road projects under the renewed hope agenda.
The skyrocketing costs of cement and other building materials have posed significant challenges to the construction industry and hindered the government’s efforts to address housing deficits and enhance infrastructure development. Recognizing the urgency of the situation, the Nigerian government, through the Minister of Housing and Urban Development, Ahmed Dangiwa, had previously issued warnings to cement manufacturers, threatening to open the border for cement importation if prices were not reduced.
