CBN Urges Cement Manufactures To Slash Prices

The Central Bank of Nigeria has appealed to cement manufacturers to consider reducing the high cost of cement.

The CBN Governor, Godwin Emefiele, made the call at the official commissioning of the BUA cement line 4 plant and the groundbreaking of line 5 in Sokoto.

Emefiele said: “Manufacturers in the construction sector to take urgent action in bringing down the price of building materials in Nigeria .”

Within the past six months, the price of cement has risen from N3,200 to N4, 600.

Emefiele at the occasion said construction companies have called on Cement and steel manufacturers to do something about the skyrocketing prices of these two essential items in the construction sector.