The Minister of Works, David Umahi, has charged cement manufacturers in Nigeria to reduce the price of the product from the current ₦9,500 per bag to ₦7,000.......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
Umahi said with the crashing rate of the dollar to naira, and the reduction in petrol prices, it is normal to expect a reduction in the price of cement as well.
The Minister told the manufacturers to reduce the price of cement to ₦7,000 within one week, or he would have to report them to President Bola Tinubu.
He said, “I’m happy that the policies of Mr. President are working. Today, a dollar is about N1,400. At the time the dollar was almost N2,000, cement prices rose from N7,500. Now that the President has stabilized the exchange rate, why is cement still selling at N9,500?
“We are requesting cement manufacturers to bring down the cost of cement to N7,000. If after one week they don’t do that, I will have to complain officially to Mr. President.”
Speaking further during a meeting on Wednesday in Abuja with some stakeholders, including government contractors, Umahi also issued a directive to the contractor handling the Enugu-Onitsha dual carriageway to complete the rehabilitation of the road on or before May 10 2026.
A statement issued by his media aide, Uchenna Orji, noted that the Minister lamented the slow progress of the road project and called on the financier, MTN Nigeria and the construction outfit, RCC Nigeria Ltd to work towards the completion of the project which is financed through the Infrastructure Development and Refurbishment Investment (Tax Credit) Scheme.
The Minister warned that the government would not entertain any variation on the cost of the project.
He said, “There will be no variation or VOP on the project. And RCC must note that going forward, the operation of VOP in their projects must be in accordance with the procedure contained in the Conditions of Contract and not at the whims and caprices of the contractor.
“MTN must not sacrifice its responsibility of funding the project at the altar of business profit, as this will wittingly or unwittingly inhibit speedy delivery and impugn the public perception of the government’s commitment to completing the project.
“There must be a written commitment between MTN and the Federal Ministry of Works to adhere to these conditions. The more the job delays, the more variation becomes a factor.”
The Minister of State for Works, Mohammad Bello Goronyo, along with the Permanent Secretary of the ministry, Mr. O.O. Adebiyi were also in attendance at the meeting.
