Business
Cement: Body Blames High Cost On Manufacturers
The Cement New Entrants Forum (CNEF) last Wednesday in Abuja attributed the high prices and scarcity of cement to the activities of some manufacturers in the industry.
Prince David Iweta, the chairman of the forum, made the claim in a statement made available to newsmen.
“The on-going crisis of scarcity of the product and its current high price at N2,700 per bag in most part of the country, as of today is caused by the activities of some manufacturers.
“The cement manufacturers had recommended increased duty and levy of 35 per cent to push the landing cost of imported cement to N 1,700 per bag”, the statement quoted Iweta as saying.
According to him, this is to enable local manufacturers to sell their locally manufactured cement at the same price of N 1,700 as against N 500 and N700 per bag, which is the expected price for the product.
The chairman, therefore, pleaded with President Goodluck Jonathan to grant the forum audience to enable it state the true position of crisis in the cement industry.
He said, “the meeting will enable us to state the true position of things in the cement industry instead of the president hearing from one section of manufacturers .
It would be recalled that Jonathan met with top five cement manufacturers in the country on Monday where he directed the Cement Manufacturers Association of Nigeria (CMAN) to bring down the price of cement within 30 days.
Business
NCAA Certifies Elin Group Aircraft Maintenance

Business
SMEDAN, CAC Move To Ease Business Registration, Target 250,000 MSMEs

Business
Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
-
City Crime4 days ago
Industry Braces For Glut And Investor Demands
-
News4 days ago
“PenCom Raises Capital Requirement For PFAs To N20b …Sets December 2026 Deadline
-
Niger Delta2 days ago
Police Arrest Two Cultists, Recover Weapons In A’Ibom
-
Sports4 days ago
Ezeji Urge NFF To Investigate Igenewari George’s death
-
Niger Delta4 days ago
D’Gov Hails Amananaowei-Elect, Ogboloma Chiefs Council …Wants Accountability, Transparency In Traditional Administration
-
News2 days ago
ECOWAS Parliament adopts $26m 2026 budget, announces 25th anniversary plans
-
Sports4 days ago
Group Plan To Discover Africa next football stars
-
News4 days ago
Make in Nigeria conferences and Exhibitions; PHCCIMA, others laud organisers for boosting SMES