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The Federal Authorities has introduced plans to prioritize street repairs and discover options for decreasing gasoline prices and import duties, aiming to lower the hovering costs of cement throughout the nation.
This decision was a part of the settlement reached at a gathering between the federal government and main cement producers on Monday in Abuja.
Senator David Umahi, the Minister of Works, alongside Mrs. Doris Uzoka-Anite, the Minister of Commerce and Funding, and representatives from the three main cement firms Dangote Plc, BUA Plc, and Lafarge Plc signed the communiqué.
Resolutions from the Communique
The doc highlights that the federal government is conscious of the difficulties outlined by the producers, comparable to the price of gasoline, elevated import duties on spare elements, poor street infrastructure, vital overseas change charges, and the smuggling of cement into neighbouring nations.
- Furthermore, the assembly ended with a decision that the Federal Ministry of Business, Commerce and Funding would pursue cures from President Bola Tinubu for the problems of gasoline pricing and import duties.
- Additionally, the Federal Ministry of Works will focus extra on street upkeep, particularly close to the websites of the manufacturing firms.
- To handle the issue of cement smuggling, the Federal Ministry of Business, Commerce and Funding will strengthen its discussions with the Nationwide Safety Adviser to plot methods for stopping the exercise.
It was additionally agreed that the present excessive cement worth was irregular in some areas nationwide.
Backstory
Earlier, Nairametrics reported that the Federal Authorities, along with cement producers comparable to BUA, Dangote and Larfarge, has set the worth vary for a 50kg bag of cement at N7,000 to N8,000 throughout varied areas within the nation.
- Senator David Umahi introduced this worth adjustment following an prolonged dialogue with key gamers within the cement trade held in Abuja on Monday.
- Regardless of the agreed worth discount, producers emphasised that the lower from the present market charges is contingent upon the federal government’s dedication to deal with vital challenges inside the sector.
- Previously few weeks, the worth of a 50kg bag of cement elevated to an all-time excessive of over N9,500 throughout totally different cities within the nation.
- The reason for the spike has been attributed to a rise in power prices and different operational bills.
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