Citing a strengthened naira and declining petrol prices, the Minister for Works, David Umahi, has called on cement manufacturers to slash the price of their product to 7,000 naira.
He attributed the appreciating value of the naira and the reduction in petroleum product costs to responses to the economic policies introduced by President Bola Tinubu.
The minister, however, cautioned telecom service providers and construction company RCC Nigeria Ltd over the delayed execution of the Enugu-Onitsha Expressway project, funded under the Infrastructure Development and Refurbishment Investment (Tax Credit) Scheme.
According to a statement by his media aide, Uchenna Orji, the minister threatened to hold MTN liable for any funding challenges and ruled out any consideration for variation of price (VOP) by the government until the project is completed.
Reaffirming the government’s commitment to maintaining high construction standards, the minister highlighted the need for cost adjustments in line with the improving economic conditions, particularly in the cement sector.