Developers Reject N8, 000 Cement price
Developers in the built industry have rejected the agreement reached between the Federal Government and cement manufacturers.
At the meeting, it was resolved that prices of cement will be reduced to between N7,000 and N8,000.
In an exclusive interview, the President of the Real Estate Developers Association of Nigeria, Dr. Aliyu Wamakko, said the reduction was not good for the economy.
According to him, most of the components of cement are sourced locally.
Wamakko noted that the price should be brought down to N5, 000 for any meaningful thing to be done.
Cement Manufacturers had on Monday agreed to sell a 50kg bag of cement at a retail price between N7, 000 and N8, 000, depending on location nationwide.
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