A 2.5 metric tonnes cement factory in Cross River State was recently inaugurated, Financial Standard reports

The facility was built by the United Cement Company (Unicem) Nigeria Limited and is a joint venture between a consortium of Nigerian cement manufacturers. Unicem's shareholders include Flour Mills Nigeria plc, Dangote Industries and Lafarge Cement.

The factory is expected to lower the price of cement in Nigeria, as well as decrease the cost of housing construction.

Minister of commerce and industry, Achike Udenwa, who was representing the president at the inauguration said that the federal government is committed to lowering Nigeria's dependence on imported cement, Daily Independent reports.

He added that the government recognises the significant role that the private sector plays in the growth of Nigeria's economy.