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FG to Cement Makers: Slash Prices To 7000 Or Face the Heat 

By Achimi Muktar

The Federal Government has sounded the alarm on skyrocketing cement prices, demanding an immediate reduction to ₦7,000 per bag amid improving economic conditions.

The ultimatum came from the Minister of Works, Sen. Engr. Nweze David Umahi, during a high-stakes meeting at the ministry’s headquarters in Abuja on February 26, 2025. In a fiery address, Umahi called out manufacturers for failing to adjust prices despite the naira’s recent rebound.

"Why Is Cement Still ₦9,500?" – Umahi Questions Manufacturers

According to the minister, cement prices soared when the dollar hit nearly ₦2,000, prompting manufacturers to hike prices. However, with the naira now stabilizing at ₦1,400 per dollar and petrol prices dropping, he sees no justification for cement remaining as high as ₦9,500 per bag.

“Why should cement still be selling for ₦9,500 when the President has brought the dollar to stability at around ₦1,400, and it’s still going down?” Umahi asked.

“We are requesting cement manufacturers to bring down the cost to ₦7,000.”

FG’s Warning: Act Now or Face Presidential Intervention

Umahi emphasized that affordable cement is crucial for the country’s infrastructure projects, especially in constructing Continuously Reinforced Concrete Pavements (CRCPs). He revealed that some contractors are now reconsidering a switch back to asphalt, which could affect road quality and longevity.

The Works Minister didn’t mince words, giving cement manufacturers just one week to respond. If prices aren’t reduced, Umahi vowed to take the matter directly to President Bola Tinubu.

Cement Price Hike: A Recurring Concern

This isn’t the first time the federal government has called out cement manufacturers over price manipulation.

In February 2024, the Minister of Housing and Urban Development, Musa Dangiwa, accused manufacturers of exploiting exchange rate fluctuations to justify outrageous price hikes. Cement prices had surged from ₦5,500 to over ₦10,000 in just a few months—a staggering 100% increase.

Dangiwa warned that rising cement costs threaten affordable housing projects, particularly for low- and middle-income Nigerians. He urged manufacturers to find innovative solutions instead of continuously passing costs onto consumers.

What’s Next?

With the federal government ramping up pressure, the coming weeks could see cement prices finally drop—or a clash between manufacturers and policymakers. Will cement makers heed the ₦7,000 demand, or will this escalate into a full-blown presidential showdown? Nigerians are watching.