The Federal Government and Cement Manufacturers have reached an agreement over the skyrocketing price of cement.
The Minister of Works, David Umahi, disclosed this after a meeting with leading manufacturers on Monday in Abuja.
After several hours of meeting behind closed doors, manufacturers tentatively agreed to sell a 50kg bag of cement at a retail price between N7,000 and N8,000, depending on location nationwide.
The manufacturers however put a caveat that that the price drop from the current market price would largely depend on the fulfilment of certain government interventions to ameliorate critical challenges faced in the industry.
