FG summons Dangote Plc, BUA Plc, Larfarge, others over escalating cement prices.

Federal government declared yesterday that it could not fold its arms and allow the price of cement spiral out of control.

Consequently, Works Minister David Umahi has summoned cement manufacturers to a meeting on Monday to examine the issues surrounding the latest development.Expected at the meeting are Dangote Plc, BUA Plc, Larfarge and the other manufacturers

Special Adviser to the Minister on Media Uchenna Orji said his principal was “worried by the escalating cost of cement despite huge patronage by road and housing contractors to cement manufacturersThe meeting is scheduled for the Federal Ministry of Works, Mabushi-Abuja

The Minister was quoted as saying that “It is common knowledge that the manufacturers have their challenges, which we shall look into, but from our findings, the disparity between ex-factory price and the market price is wide. “We therefore need to look into the situation and other issues with a view to finding a common front.”The price of cement now ranges between N6500 to N15000 per bag.