In light of the recent appreciation of the naira and the decrease in petrol prices, Works Minister David Umahi urged cement producers to reduce the price of their products to N7,000.
He said, “I’m happy that the policies of Mr. President are working. Today, a dollar is about N1,400. At the time the dollar was almost N2,000, cement prices rose from N7,500. Now that the President has stabilized the exchange rate, why is cement still selling at N9,500?
“We are requesting cement manufacturers to bring down the cost of cement to N7,000. If after one week they don’t do that, I will have to complain officially to Mr. President.”
Concerning the Enugu-Onitsha Expressway project, an agreement was made with MTN Nigeria and RCC to establish a definitive completion date of May 10, 2026.
The minister, advised telecom service provider MTN and construction firm RCC Nigeria Ltd to be mindful of the slow progress on the Enugu-Onitsha Expressway project, which is financed through the Infrastructure Development and Refurbishment Investment (Tax Credit) Scheme.
In a statement issued by his media aide, Uchenna Orji, the minister indicated that he would hold MTN accountable for any difficulties regarding funding. He also emphasized that the government would not entertain any discussions about a price variation (VOP) until the project’s completion.
During a meeting in Abuja, Umahi addressed representatives from both MTN and RCC. Also present at the meeting were Minister of State for Works, Mohammad Bello Goronyo, along with the Permanent Secretary of the ministry, Mr. O.O. Adebiyi.
He said, “There will be no variation or VOP on the project. And RCC must note that going forward, the operation of VOP in their projects must be in accordance with the procedure contained in the Conditions of Contract and not at the whims and caprices of the contractor.
“MTN must not sacrifice its responsibility of funding the project at the altar of business profit, as this will wittingly or unwittingly inhibit speedy delivery and impugn the public perception of the government’s commitment to completing the project.
“There must be a written commitment between MTN and the Federal Ministry of Works to adhere to these conditions. The more the job delays, the more variation becomes a factor.”