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The assurance by the Federal Government to prioritize road repairs and explore solutions for reducing gas costs and import duties, among others were the basis for the tentative agreement by Cement Manufacturers to reduce the soaring prices of cement across the country, checks by metrobusinessnews.com (MBN) has revealed.
This resolution was part of the agreement reached at a meeting between the government and leading cement producers in the country on Monday in Abuja.
Senator David Umahi, Minister of Works, alongside Doris Uzoka-Anite, Minister of Trade and Investment and representatives from the three major cement companies Dangote Plc, BUA Plc, and Lafarge Plc signed the communiqué.
But some Nigerians have expressed outrage over the resolution, wondering why the two parties seem to be working from ‘answers to the questions’.
This is because, part of the resolutions from the communique showed that the government is aware of the difficulties outlined by the manufacturers, such as the cost of gas, elevated import duties on spare parts, poor road infrastructure, significant foreign exchange rates, and the smuggling of cement into neighbouring countries.
Curiously, the meeting ended with a resolution that the Federal Ministry of Industry, Trade and Investment would pursue remedies from President Bola Tinubu for the issues of gas pricing and import duties.
Also, the Federal Ministry of Works will focus more on road maintenance, especially near the sites of the manufacturing companies.
To address the problem of cement smuggling, the Federal Ministry of Industry, Trade and Investment will strengthen its discussions with the National Security Adviser to devise strategies for stopping the activity.
It was also agreed that the current high cement price was abnormal in some locations nationwide.
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Questions being asked by some Nigerians, are whether the hardship being experienced are ‘inventions’ that would only require the Cement Manufacturers’ threat before serious action is being considered by the government?.
Whether, it’s a new normal for situations to be allowed to deteriorate, and in this case, the price of 50kg bag of cement going for around N13,000 per bag, from last month’s N5,400 before intervention?
Also, that whether the trillions of tax payers money gone down the drain in the name of ‘tax waivers’ to some of these companies, should not be reciprocated through their being socially responsible to their ‘enviroment’?
Following public outcry over high cost of living, compounded by rising cost of building materials,like cement, the Federal Government, together with cement manufacturers such as BUA, Dangote and Larfarge, had set the price range for a 50kg bag of cement at N7,000 to N8,000 across various locations in the country.

Senator David Umahi announced this price adjustment following an extended discussion with key players in the cement industry held in Abuja on Monday.
MBN gathered that despite the agreed price reduction, manufacturers emphasized that the decrease from the current market rates would be contingent upon the government’s commitment to addressing significant challenges within the sector.
In the past few weeks, the price of a 50kg bag of cement increased to an all-time high range of between N9,500 and N13000, depending on the locations, across the country.
The cause of the spike has been attributed to increase in energy costs and other operational expenses, for which no practical solutions seem to be coming for now.
