The Mangal Cement Company Limited, owned by Katsina-born billionaire Dahiru Mangal, has started selling cement produced at its newly completed $1.5 billion plant in Kogi State.
In a post he made on X, a man, Maleek Ana, displayed two bags, claiming he bought a bag at the cost of N6,000.
The man wrote on X:
See his post:
TimesNow.com.ng reported that the facility will produce about 200 cement trucks daily, which analysts say will create direct and indirect jobs.
Mangal Industries signed a deal with a Chinese company, Sinoma, to build the facility in November 2021.
The company’s chief executive officer, Fahad Mangal, promised a state-of-the-art, technology-driven facility with no environmental threats.
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TimesNow.com.ng earlier reported that cement manufacturers have decided to reduce the product’s price to between N7,000 and N8,000 per 50kg.
This was agreed during a meeting initiated by the minister of works, David Umahi, and attended by his counterparts from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, in Abuja on Monday, February 19, 2024.
The meeting was part of efforts made to identify the underlying reasons for the abrupt increase in commodity prices.
Source: TimesNow.com.ng
