Cement Hike: Tinubu directs companies to revert to old prices

President Bola Ahmed Tinubu has directed cement companies in Nigeria to revert to old prices amid the hike in the cost of the commodity.

David Umahi, the Minister of Works, disclosed this on Thursday after inspecting the BUA cement factory in Sokoto State.

Umahi said, “Mr President insisted that they should go back to the status quo as far as 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,” he said.

bags of cement surged to N10,000 and 15,000 in Abuja from N5,000.

Outside cement, the cost of other building materials had also skyrocketed.

Last Month, the Nigerian government, through the Minister of Housing and Urban Development, Ahmed Dangiwa, threatened to open the border for cement importation if manufacturers failed to cut down prices.