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Hike in price of cement is temporary- FG

The federal government has cautioned the general public against panic purchase of cement due to the recent price increase in some parts of the country.

A statement from the ministry of Industry,Trade and Investment says the Ministry is working assiduously to engage relevant stakeholders in the manufacturing sector to address the lingering situation.

The statement explains that there was a reduction in production volumes in the 2nd and 3rd quarters of last year as a result of the pandemic, Endsars protests and downtimes in some manufacturing plants due to low cash flow of major distributors and high cost of transportation.

It says panic buying and storage is unnecessary as the current price is temporary.

It however assures the public that the government will continue to be alert to its responsibility of ensuring that goods and services are available at reasonable prices.

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