News
Why We Can’t Sell Cement Below ₦7,000 – Manufacturers
“Therefore, the manufacturers – BUA Cement Plc, Dangote Cement Plc and Lafarge Africa Plc have agreed to sell their cement at between N7,000 and N8,000 per 50kg depending on the location.
A bag of cement cannot be sold below N7,000 due to the increasing cost of production, manufacturers said yesterday.
They said the rise in operating costs was responsible for the price hike.
The producers have agreed to reduce the price per 50kg bag from between N9,000 to N15,000 to between N7,000 and N8,000 depending on the location nationwide.
Representatives of Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc made the commitment after a meeting with Minister of Works, David Umahi, which was attended by his Industry, Trade and Investment counterpart, Doris Uzoka-Anite in Abuja.
Umahi called the meeting following the skyrocketing price of cement.
The manufacturers blamed the high cost of gas, import duties, bad road network, smuggling and the prevailing foreign exchange rate for the hike.
Executive Director of BUA, Kabir Rabiu, said the manufacturers would abide by the agreement.
He said: “Our cost component of energy went from 39 per cent to 60 per cent.
“The price of gas last year was N415, then it went to N715.
“Today, we are paying over N1,500. All these issues were discussed and we gave our commitment.
“When our six million tonnes of cement is supplied to the market in a few weeks, definitely we will see a sharp drop in prices when that volume hits the market.”
He said the huge disparity between demand and supply also played a major role in the price increase.
According to him, some manufacturing plants could not produce for some reason, which led to a reduction in production.
“Being the highest period of cement demand in the country, the tendency that demand will outstrip supply will push the price up,” he said.
He also said cross-border smuggling contributes to the scarcity of the commodity.
According to him, a bag of cement costs far more in Cameroun, which makes it attractive to move the product there illegally.
Group Managing Director/Chief Executive Officer of Dangote Cement Plc, Arvind Pathak, said notwithstanding that the core materials are locally sourced, spare parts and other variables are subject to import duties and foreign exchange.
A communique issued after the meeting, read by Umahi, states: “We discussed extensively the current prices of Cement viz a viz the challenges of the manufacturers.
“The manufacturers talked about their challenges ranging from the high cost of gas, import duties, bad road network and of course the high rate of FX against the naira.
“We also talked about the smuggling of cement across the borders.
“The government noted the challenges and we agreed that the Minister of Industry, Trade and Investment will seek some remedies from the President on the high cost of gas, issue of import duties and fixing of the roads, especially within the distribution corridors.
“On the issue of smuggling, the Trade Minister will brief the National Security Adviser (NSA) on smuggling the commodity across the borders.
“The government and the manufacturers noted that depending on the location, ideally, the price should not be more than N7,000 and N8,000 per 50 kg bag of cement.
“Therefore, the manufacturers – BUA Cement Plc, Dangote Cement Plc and Lafarge Africa Plc have agreed to sell their cement at between N7,000 and N8,000 per 50kg depending on the location.
“The Federal government and cement manufacturers will set up a price monitoring mechanism to ensure compliance.
“The manufacturers have accepted to sanction, on their own, any of their distributors or retailers found wanting.
“The government expects the agreed price to drop after securing government’s interventions on the challenges of the manufacturers on gas, import duty, smuggling, and better road network.
“It was also agreed that the government will encourage the emergence of at least six cement manufacturers to augment the three existing companies.
“We also agreed to reconvene in 30 days to review progress.”
Uzoka-Anite said the government was working hard to ensure that the prices of all commodities were reduced.
News
Couple Kidnapped, One Shot In Ondo Estate Attack
Gunmen suspected to be kidnappers have abducted a couple from their residence in the Iluabo area of Akure North Local Government, Ondo State.
During the attack, which occurred in the early hours of Saturday, February 21, 2026, the assailants shot one person before seizing the victims.
The gunmen had stormed Olaribigba Estate in the community when they whisked Mr Jamiu Olawale and his wife into the bush.
Following the development, which has created tension in the agrarian community, residents protested and barricaded the road leading to the community over the incessant kidnappings and insecurity in the community.
According to sources, the couple had arrived at their residence in an ash-coloured Toyota Camry when they were attacked by the gunmen, who lay in ambush for them.
During the incident, a neighbour of the abducted couple, Patrick Ilumaro, who was seated in front of his residence, was shot by the gunmen while fleeing from the community.
A neighbour of the victims revealed that Ilumaro was swiftly rushed to an undisclosed medical facility where he is currently receiving medical treatment.
While confirming the incident, the Ondo State Police Command disclosed that tactical teams as well as conventional operatives have been deployed to the community.
In a statement issued by the Police Public Relations Officer, Abayomi Jimoh, the operatives are already combing the axis in an effort to rescue the victims and apprehend the perpetrators.
“Concerted efforts are ongoing to ensure the safe return of the abducted persons and bring those responsible to justice.
“Members of the public are urged to remain calm and go about their lawful activities. Meanwhile, the Command urges them to provide credible and actionable information that may assist in the investigation to the nearest police station.”
News
Brake Failure Leaves One Dead, Four Rescued At Abule-Egba
One person died and four others were rescued following a road accident at Ekoro Junction, Abule-Egba, on Friday evening, according to a statement from the Lagos State Traffic Management Authority.
The Director, Public Affairs and Enlightenment Department of LASTMA, Adebayo Taofiq, made this known in a statement issued on the agency’s X handle on Saturday.
According to the agency, the crash occurred at about 7:30 p.m. when an empty MACK tanker suffered a sudden brake failure, lost control and rammed into a Toyota Corolla before crashing into a roadside shop.
LASTMA said the tanker, with registration number EKY 900 XY, collided with a Toyota Corolla marked AAA 823 AY.
The impact caused extensive structural damage to the shop and triggered panic among traders and pedestrians in the area.
“The magnitude of the collision led to the immediate confirmation of one fatality at the scene, while four other trapped persons were extricated from the wreckage through coordinated emergency rescue efforts,” the agency stated.
The authority said it immediately activated its Rescue and Recovery Protocol, deploying specialised operatives to manage the situation.
“Personnel implemented strategic traffic diversion, vehicular evacuation procedures and crowd management in synergy with other emergency responders to forestall secondary incidents and guarantee unobstructed access for rescue operations,” LASTMA added.
It stated that emergency teams carried out rescue operations and provided medical attention to the injured victims.
According to the agency, a heavy-duty tow truck was later deployed to evacuate the damaged tanker and clear debris from the road to restore normal traffic flow.
The agency disclosed that the tanker driver fled the scene shortly after the crash and security operatives have since launched efforts to apprehend the driver and initiate legal proceedings.
“Security personnel from the Nigeria Police Force, Ekoro Division, responded expeditiously, maintaining public order, securing the accident perimeter and assisting in investigative processes aimed at establishing the precise sequence of events that culminated in the mechanical failure and subsequent collision.
“The incident precipitated considerable traffic congestion extending across adjoining routes toward Abule-Egba, necessitating robust traffic management interventions by LASTMA officials who remained on ground directing vehicular movement and implementing diversion strategies to alleviate the backlog,” it said.
According to the agency, its General Manager, Olalekan Bakare-Oki, expressed condolences to the family of the deceased and urged transport operators, particularly drivers of articulated vehicles, to prioritise routine vehicle maintenance.
“Preventable mechanical deficiencies remain a significant contributory factor in severe road traffic crashes,” Bakare-Oki said.
He also advised motorists to exercise vigilance, obey traffic regulations and maintain responsible driving practices, especially within densely populated commercial corridors.
Bakare-Oki assured the public that security agencies would conduct a thorough investigation to determine the immediate and remote causes of the incident and ensure that anyone found culpable would be prosecuted in accordance with extant laws.
The agency said other emergency responders at the scene included the Lagos State Emergency Management Agency, the Lagos State Fire and Rescue Service, the Lagos State Ambulance Service, the State Environmental Health Monitoring Unit and officers of the Nigeria Police Force, collaborated to coordinate rescue, medical response and environmental safety measures.
News
Court Sets Feb 25 For El-Rufai’s Arraignment In DSS Cybercrime Case
The Department of State Services (DSS) will arraign former Governnor of Kaduna state, Nasir El-Rufai, on February 25 over alleged cybercrime and breach of national security.
Justice Joyce Abdulmalik of the Federal High Court has fixed the date for the arraignment of the former Governor on a three-count criminal charge filed by the Department of State Services (DSS) after the Chief Judge, Justice John Tsoho assigned the case to her.
NAN earlier reported that the DSS, on Monday, filed a three-count criminal charge against El-Rufai following his alleged involvement in wiretapping the telephone lines of the National Security Adviser (NSA), Mallam Nuhu Ribadu.
The charge, instituted by the Nigerian secret police, is marked FHC/ABJ/CR/99/2026.
The service accused El-Rufai of breaching the Cybercrimes Prohibition Act (2024) and the Nigerian Communications Act (2003.)
In court, El-Rufai was alleged to have, on Feb. 13, while appearing as a guest on Arise TV station’s Prime Time Programme in Abuja, admitted during the interview that he and his cohorts unlawfully intercepted the phone communications of the NSA, Mr Ribadu.
The offence is said to be contrary to and punishable under Section 12(1) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.
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