•Lament rising fuel charges, import duties, others
Emmanuel Addeh in Abuja
Nigeria’s main cement producers yesterday agreed to cut back costs, noting that regardless of the rising price of doing enterprise, a 50kg bag of the product shouldn’t be greater than between N7,000 and N8,000.
Popping out of a gathering with the Minister of Works, David Umahi and the Minister of Business, Commerce and Funding, Doris Uzoka-Anite, in Abuja, Dangote Cement, BUA and Lafarge, mentioned a worth monitoring group could be arrange to make sure that there’s no worth gouging.
A press release by Umahi’s Particular Adviser, Uchenna Orji, mentioned it’s anticipated that worth will drop after securing authorities’s interventions on the challenges of the producers on fuel, import obligation, smuggling, and higher highway community.
“The assembly famous the challenges of the producers like: Value of fuel; excessive import obligation on spare elements; dangerous highway community; excessive overseas alternate; and smuggling of cement to neighbouring nations.
“The federal government famous the challenges and reacted as follows: Federal Ministry of Business, Commerce and Funding to hunt some treatments from Mr. President on price of fuel and import duties.
“The Federal Ministry of Works is to offer extra consideration to fixing of the roads, particularly across the areas of the producers,” it acknowledged.
On the difficulty of smuggling cement, the Federal Ministry of Business, Commerce and Funding mentioned it is going to deepen the already commenced engagement with the Nationwide Safety Adviser (NSA) on the way to cease smuggling.
“ The cement producers and the federal government famous that the present excessive worth of cement is irregular in some areas nationwide. Ideally, cement retail costs shouldn’t price greater than N7,000.00 to N8,000.00/ 50kg bag of cement.
“Subsequently, the three cement producers: Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc have agreed that cement price won’t be greater than between N7,000.00 and N8,000.00/50kg bag relying on the placement,” the assertion added.
Going ahead, the federal government suggested cement producers to arrange a worth monitoring mechanism to make sure compliance.
Additionally, the producers, the assertion mentioned, have willingly accepted to take action and to sanction any of their distributors or retailers discovered wanting.
“Authorities expects the agreed worth to drop after securing interventions on the challenges of the producers on fuel, import obligation, smuggling, and higher highway community. The assembly agreed to reconvene in 30 days to evaluate progress made,” the assertion added.
