President Tinubu orders cement manufacturers to revert to old price

President Bola Tinubu has directed cement manufacturers in the country not to sell a 50kg bag of cement for more than ₦7,000 anywhere in the country.

David Umahi, the Minister of Works, made this known while inspecting BUA cement factory in Sokoto on Thursday, February 29, 2024.

In his reaction, the Executive Director of BUA Group, Alhaji Kabiru, said the company has been selling a bag of the product at the rate of ₦6000 as part of their commitment to the president’s directive on the price of cement.

Responding, Umahi commended the management of BUA Cement for the move and also urged them to do better.

He said, “On the issue of pricing I can authoritatively say that they can still do better in line with their discussion with Mr. President.”

“Mr. President insisted that they should go back to the status quo as far this cement price is concerned for the common man.

“I want to encourage them to abide by the directive of Mr President so that we can achieve a massive housing programme and the renewed hope agenda of concrete roads by the President.”

Also speaking at the event, Senator Aminu Tambuwal commended BUA management for living up to expectation in the discharge of its responsibilities.

Tambuwal appealed to the management of the cement company to improve capacity in its production and ensure the availability of the product to the masses at affordable prices.

Recall that in February, the government and cement manufacturers at a meeting agreed to peg the price of the commodity between ₦7,000 and ₦8,000 per bag.

But the agreement failed to reflect on the price of the product at retail outlets as a bag of cement still sells for over ₦11,000 a bag of 50kg in many parts of the country.