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FG, Cement Manufacturers Reach Agreement to Sell 50Kg @ N7000 to N8000

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Federal government and cement manufacturers have agreed on a N7,000 to N8,000 per 50 kg bag of cement to halt the astronomical rise in the price of the product.

FG, Cement Manufacturers Reach Agreement to  Sell 50Kg @ N7000 to N8000
This agreement was part of a deal struck after several hours of meeting held behind closed doors at the Headquarters of the Ministry of Works, between the Federal Government and cement manufacturers , in Abuja, on Monday.
The manufacturers tentatively agreed to sell a 50kg bag of cement at a retail price between N7,000 and N8,000, depending on location nationwide,
They however put a caveat that the price drop from the current market price would largely depend on government fulfilling its promised interventions in certain areas of concern to ameliorate critical challenges faced in the industry.
Retail price for cement jumped from N5,000 to N10,000 within one week in the open market, after wholesalers citing increasing cost of transportation and other variables, made adjustments to the price they sell to retailers.
Retailers in turn transferred the additional cost burden to consumers to stay afloat.
This prompted President Bola Tinubu to order David Umahi , ministers of Works, and his Trade and Investment counterpart, Dr. Doris Uzoka-Anite. to meet with Cement manufacturers to find a solution to the crisis.
Umahi, had while calling for the meeting expressed the Federal Government’s concern over the development adding that if the situation wasn’t brought under control, it had the potential of hurting the prosperity agenda of rhe current administration .
After the meeting, Umahi read out a communique in which he mentioned concerns raised by the manufacturers.
These concerns include: bad roads, smuggling, high cost of energy, and the Forex crisis. This according to the manufacturers were the primary reasons behind the price hike.
He also said the manufacturers expressed willingness to reduce the prices going forward.

Manufacturers at the meeting include: Dangote Cement PLC, BuA Cement PLC, Larfarge Africa PLC and Cement Producers Association.
Reapresentatoves of the Federal Government include: The Minister of Works and his counterpart in the Ministry of Industry, Trade and Investment,
While reading the communique, Umahi said, “The meeting noted the challenges of the manufacturers like: Cost of gas;, High import duty on spare parts; Bad road network; High foreign exchange; and Smuggling of cement to neighbouring nations.
“The government noted the challenges and reacted as follows: Federal Ministry of Industry, Trade and Investment to seek some remedies from Mr. President on cost of gas and import duties.
“Federal Ministry of Works to give more attention to fixing of the roads, especially around the locations of the manufacturers.
“On the issue of smuggling cement, the Federal Ministry of Industry, Trade and Investment to deepen the already started engagement with the National Security Adviser on how to stop the smuggling.
“The cement manufacturers and the Government noted that the current high price of cement is abnormal in some locations nationwide. Ideally, cement retail prices should not cost more than ₦7,000.00 to ₦8,000.00/ 50kg bag of cement.
“Therefore, the three cement manufacturers: Dangote Cement Plc, BUA Cement Plc and Larfarge Africa Plc have agreed that cement cost will not be more than between ₦7,000.00 and ₦8,000.00/50kg bag depending on the location.
“Going forward, Government advised cement manufacturers to set up a price monitoring mechanism to ensure compliance, and manufacturers have willingly accepted to do so and to sanction any of her distributors or retailers found wanting.

“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.


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History as Nigeria Launches Mew 5-in-1 Meningitis Vaccine

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Nigeria has launched the new Men5CV vaccine, which offers protection against five strains of the Neisseria meningitidis bacteria (meningococcus) responsible for meningitis.

History as Nigeria Launches Mew 5-in-1 Meningitis Vaccine

Nigeria becomes the first country globally to launch the vaccine, which is recommended by the World Health Organization (WHO).

The Men5CV vaccine rollout is a significant advance in the fight against meningitis, as it provides broader protection than the previous vaccines.

It shields against the major strains A, C, W, Y and X of meningococcal bacteria in a single shot. Existing vaccines sold in Africa are only effective against strain A.

The introduction of Men5CV is particularly crucial for Nigeria, one of the 26 hyper-endemic countries in Africa, which recently experienced an outbreak leading to 1,742 suspected cases.

In response, a vaccination campaign was conducted in March 2024 to reach more than one million individuals aged from one to 29.

The vaccine’s development, spanning 13 years, was a collaborative effort between PATH and the Serum Institute of India, with funding from the UK Government’s Foreign, Commonwealth and Development Office.

The Men5CV vaccine utilises the same technology as the MenAfriVac vaccine that has eradicated meningococcal A epidemics in Nigeria.

In July 2023, the WHO prequalified the meningitis vaccine, branded as MenFive. It went on to issue a formal recommendation for its launch in October.

Gavi, the Vaccine Alliance, provided funding for the vaccine and emergency vaccination activity, and allocated resources for the Men5CV rollout in December.

The vaccine is now available for outbreak response through the emergency stockpile managed by the International Coordinating Group on Vaccine Provision.

Mass preventive campaigns involving the Men5CV vaccine rollout across sub-Saharan Africa’s ‘Meningitis Belt’ are expected to commence in 2025.

Dr Tedros Adhanom Ghebreyesus. WHO director-general, stated: “Meningitis is an old and deadly foe, but this new vaccine holds the potential to change the trajectory of the disease, preventing future outbreaks and saving many lives.

“Nigeria’s rollout brings us one step closer to our goal to eliminate meningitis by 2030.”


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NAFDAC Alerts Nigerians to EU Ban on Dex Soap

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National Agency for Food and Drugs Administration and Control (NAFDAC), has alerted Nigerians on the ban on Dex Luxury Bar Soap (No 6 Mystic Flower), by the European Union (EU).

NAFDAC Alerts Nigerians to EU Ban on Dex Soap

The notification is contained in a public alert with No. 012/2024, signed by Prof Mojisola Adeyeye, director-general, NAFDAC, and issued to newsmen in Abuja on Sunday.

“The product does not comply with the cosmetic products regulation; it also contains Butyphenyl Methylpropional (BMHCA), which is prohibited in cosmetic products due to its risk of harming the reproductive system.

“It also causes harm to the health of unborn children and may cause skin sensitisation.

“It is as a result of the defective nature of the product that the EU banned it.

“The products is not in NAFDAC database; importers, distributors, retailers and consumers are to exercise caution and vigilance within the supply chain,” she said.

NAFDAC boss urged marketers and consumers to avoid the importation, distribution, sale and use of the product, stressing that product’s authenticity and physical condition must be carefully checked.

She enjoined members of the public in possession of the product to discontinue sale or use, and submit stock to the nearest NAFDAC office.


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EFCC Discovers Fraudulent COVID Funds, World Bank Loan in Poverty Ministry

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Economic and Financial Crimes Commission (EFCC) says it has discovered shady dealings involving COVID-19 funds, World Bank loan, as well as Abacha recovered loot at the Ministry of Poverty Alleviation and Humanitarian Affairs.

EFCC Discovers Fraudulent COVID Funds, World Bank Loan in Poverty Ministry

In a Sunday statement, Dele Oyewale, EFCC spokesperson, said the funds were released to the Ministry by the Federal Government to execute poverty alleviation programmes.

The anti-graft agency said its recent investigation into the affairs of the ministry led to the recovery of N32.7 billion and $445,000 so far.

The EFCC added that “suspended officials” of the Ministry were linked to the fraudulent practice, saying those found wanting will be prosecuted accordingly.

“At the outset of investigations, past and suspended officials of the Humanitarian Ministry were invited by the Commission and investigations into the alleged fraud involving them have yielded the recovery of N32.7billion and $445,000 so far,” the statement reads

“Discreet investigations by the EFCC have opened other fraudulent dealings involving Covid-19 funds, the World Bank loan, Abacha recovered loot released to the Ministry by the Federal Government to execute its poverty alleviation mandate. Investigations have also linked several interdicted and suspended officials of the Ministry to the alleged financial malfeasance.

“It is instructive to stress that the Commission’s investigations are not about individuals. The EFCC is investigating a system and intricate web of fraudulent practices. Banks involved in the alleged fraud are being investigated. Managing Directors of the indicted banks have made useful statements to investigators digging into the infractions.

“Those found wanting will be prosecuted accordingly. Additionally, the EFCC has not cleared anyone allegedly involved in the fraud. Investigations are ongoing and advancing steadily. The public is enjoined to ignore any claim to the contrary.”

Recall that, Betta Edu, suspended Minister of Humanitarian Affairs, announced she has no link with the N30 billion purportedly recovered by the EFCC.


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