馃嚦馃嚞NigeriaWest Africa
Federal Government pressures cement manufacturers to reduce prices
via Punch Nigeria3 min read
The Federal Government is urging cement manufacturers to lower prices, citing the burden on ongoing infrastructure projects and increasing demands for contract variations. Minister of Works, Senator David Umahi, stated this during the unveiling of Lafarge Africa's rebranding to HBM following its acquisition by HUAXIN Group. Umahi announced that formal engagements with cement manufacturers will begin on July 1 to address the high cost of cement. He emphasized that manufacturers must take responsibility for reducing costs, rather than expecting the government to adjust project contracts due to rising material prices. The minister highlighted that lower cement prices would support critical infrastructure projects and benefit ordinary Nigerians. He also noted that President Bola Tinubu's administration's infrastructure expansion creates opportunities for manufacturers, contractors, and investors, urging HBM and other industry players to increase production capacity. Umahi commended HBM's transition and commitment to the Nigerian market, assuring government cooperation for industrial growth and infrastructure development. He also showcased the Tinubu administration's infrastructure achievements, including the Lagos-Calabar Coastal Highway, as examples of economic transformation. This intervention comes amid concerns from contractors and stakeholders about rising construction material costs, with the government's engagement aiming to moderate prices while sustaining sector investme
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This summary was AI-generated from a story originally published by Punch Nigeria.
Canada's year-on-year inflation reached 3.2 percent in May, a 29-month high, primarily driven by elevated gasoline prices resulting from the Iran conflict. Statistics Canada reported that the closure of the Strait of Hormuz contributed to a 33.2 percent increase in pump prices compared to the previous year. Despite this, experts suggest that the overall inflation picture does not indicate an immediate widespread rise in consumer costs. Senior TD Bank economist Leslie Preston noted that oil prices have decreased since a tentative peace deal between Iran and the US, and gasoline prices are following this trend, leading to an expectation that May will be the peak for headline inflation this year. The Bank of Canada has maintained its core interest rate at 2.25 for five consecutive announcements, balancing the need to stimulate an economy affected by US tariffs with inflationary pressures from the Middle East.
Must ReadThe Socio-Economic Rights and Anti-Corruption Project SERAP has called on the Federal Government to release activist and journalist Omoyele Sowore and withdraw all criminal defamation and cybercrime charges against him. This appeal follows a Federal High Court in Abuja ordering Sowore's remand at the Kuje Correctional Centre. Justice Mohammed Umar issued the remand order pending the determination of Sowore's application to stay an earlier order revoking his bail, and dismissed an application for the judge's recusal. SERAP, in a statement by its Deputy Director Kolawole Oluwadare, stated that Sowore is being detained for peacefully exercising his fundamental rights. The organization expressed concern about what it described as an escalating crackdown on freedom of expression, peaceful assembly, association, and media freedom, and a disregard for the rule of law by Nigerian authorities. SERAP urged the Tinubu administration to discontinue the prosecution and release Sowore unconditionally, emphasizing that authorities should stop using criminal defamation and cybercrime laws to target journalists, bloggers, human rights defenders, and activists. The group also highlighted that public officials should be open to scrutiny and criticism in a democratic society and that legal processes should not be used to punish or silence dissenting voices. Sowore is being prosecuted by the Department of State Services for alleged criminal defamation after reportedly describing President Bola Ti
Supporters of human rights activist and former presidential candidate Omoyele Sowore have accused operatives of the Department of State Services DSS of forcefully arresting and injuring him within the court premises. This incident occurred shortly after Justice Mohammed Umar ordered Sowore to be remanded in the Kuje Correctional Centre, pending the determination of his application to stay an earlier order revoking his bail. The judge also dismissed Sowore's application for recusal due to alleged bias and adjourned the matter until June 24. A live video on Sowore's Facebook page reportedly showed a DSS operative grabbing and dragging him, while others prevented his loyalists from intervening. His supporters then blocked the Federal High Court Complex gates, insisting that the court's order was for remand in a correctional facility, not DSS or police custody. Agena Roberts Ande, the FCT Chairman of the African Action Congress, condemned the DSS's actions, stating they must obey the law. Sowore, who is being prosecuted by the DSS for alleged criminal defamation after reportedly describing President Bola Tinubu as "a criminal," had previously stated he was not surprised by the remand order and would be stronger upon his release.