Price Of Cement May Rise To #9000 – Manufacturers Warns FG

The Cement Producers Association of Nigeria has warned the federal government that the ongoing plan to introduce concrete roads will raise the price of cement to N9,000 per bag from the current price of N5,000.

According to Punch, the association made this warning in a statement jointly signed by the National Chairman, Prince David Iweta and National Secretary Chief Reagan Ufomba, on Sunday.

“Our findings from various parts of the country show that cement sells for as high as N6000 per bag in the rainy season”. The statement reads.

“Our prediction is that it will sell for over N9,000 per bag in the dry season, especially with the pronouncement of the Honourable Minister of Works on cement technology and the marching order on housing by Mr President if the government does not take proactive steps”.

“There has been so much comment on cement and cement pricing of late. What our nation needs is cement that is available and affordable. And this cannot be achieved by mere wishes, faulty policies and programmes, without breaking the chain of monopoly and favouritisms.

Nigerians are tired of waiting for a downturn in the price of cement and for decent and affordable housing.

“We call on the Tinubu government to permanently solve this perennial cement price hike problem by expanding participation in the sector with companies who have verifiable evidence of local investment, including greenfield licenses and quarrying.

As a matter of fact, we call on the government to more specifically conclude the backward integration policy of the late Yar’adua administration which was already bearing availability and affordability fruits”.

“Finally, we call on the government to urgently intervene in the foreign exchange market, intervene in restructuring bad loans of manufacturers, and review palliative modules.

The cry for elusive FDI will be drastically reduced if all manufacturing concerns are revived. The government must be decisive in the kind of economic policies it intends to foist on the people”. the statement concluded.