Business
Cement: Minister of Works Plans To Speak With Manufacturers To Reduce Costs
Minister of Works, Senator David Umahi, is planning to dialogue with cement manufacturers over reducing the prices of their products.
A bag of cement is currently being sold for N5, 000 ; it rose from N4,000 last year.
He spoke while featuring on Sunrise Daily, a channel television programme.
The minister said contractors have complained over the high cost of cement in the country and made claims that importing the product would be cheaper.
His words: “I’m going to be running figures with them (cement manufacturers) to check the cost of cement if we import it and the cost they are giving us here.
“A lot of contractors have complained that it is cheaper to import, but we are not allowed to import cement because we have to help the cement industries, but they also have to be reasonable with us if we are going to be patronising them.
“There is a need to use concrete technology. It’s going to make our roads last for a minimum of 50 years.”
Umahi also said the administration of President Bola Tinubu is ready to provide funds for the construction of quality roads in the country.
“We are looking at all these things. How do we cut down costs? Because the primary issue is also the cost of construction.
“We are looking at the figures but it looks like a lot of contractors are not willing, but I will make them to make the change – we are all engineers.
“I am telling them your profit, I will protect whatever thing you want to make but, let’s help Nigeria, let’s build a road that will last and the funny thing is that the government – the President will give out the money.”
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Business
Traders shut down Enugu ‘s Obollo-Afor market over N25,000 haulage levy
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
All shops and markets at Obollo-Afor, Udenu Local Government Area of Enugu State were shut yesterday, as traders staged a peaceful protest against alleged selective collection of a N25,000 haulage levy in the market.
The traders, who locked their shops and took to the streets in large numbers, carried placards with various inscriptions, alleging that the Enugu State Internal Revenue Service (ESIRS) had singled out Obollo-Afor Market for the collection of N25,000 haulage fee on every truckload of goods loaded or offloaded in the market.
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
Addressing officials of the Udenu Local Government Council at the council secretariat, where the protesters marched to present their grievances, Chairman, Obollo-Afor Market Traders Association, Charles Eze, lamented that truck operators bringing foodstuffs, building materials, and other commodities to the market had stopped coming because of the levy.
Business
Nigeria’s oil production dropped by 4% in July – NUPRC
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
The Nigerian Upstream Regulatory Commission (NUPRC) data has shown Nigeria’s average daily oil production fell by four percent in July, 2026.
According to the NUPRC, Nigeria produced 1.505 million barrels per day (bpd) of crude oil and 0.17 million bpd of condensate, bringing the combined daily production to 1.67 million bpd.
The commission said the country met and exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd for the third consecutive month.
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
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