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FG considers importation of cement over manufacturers’ refusal to lower prices
The Minister of Housing and Urban Development, Mr Ahmed Dangiwa, has revealed that the Federal Government might open up the borders for cement importation if local manufacturers do not lower their prices.
This concern was raised during a meeting in Abuja with Cement and Building Materials Manufacturers to address the sudden increase in the cost of cement across the country.
Expressing his worries over the consistent rise in cement prices over the past few months, the minister emphasised that this surge in the cost of building material has posed great crisis for housing delivery, as it directly impacts the affordability of housing for the public.
As the country grapples with these challenges, the minister called for patriotic collaboration to tackle the issue and stabilise the situation for the benefit of everyone.
He also highlighted the government’s previous efforts to support local production by halting cement importation to promote cheaper prices.
Addressing the concerns raised by cement manufacturers regarding high gas and equipment costs, Minister Dangiwa challenged them to reassess their pricing strategies.
READ ALSO: Manufacturers give conditions to lower cement price from N15000 to N8000
He also criticised the Cement Manufacturer Association of Nigeria for not actively monitoring and controlling prices within the industry.
During the meeting, the Executive Secretary of CEMAN, Mr Salako James, commended the administration’s housing policy while calling attention to key issues such as gas supply challenges and price discrepancies within the distribution channels.
He urged the government to intervene to stabilise the market and ensure fairness for consumers.
In response to these issues, the minister directed the formation of a committee to review the situation and propose practical solutions that would benefit the general public.
Representatives from major cement producers and industry stakeholders participated in the meeting to find a lasting solution to the matter.
Neptune Prime reports that a 50kg bag of Dangote cement was sold at a price of N10,000, and N15,000 for BUA cement as of Friday, 16th February 2024.
A retailer in Abuja, Yinka Adebayo, said he sold a bag of cement for N6,000 in January 2023, but was shocked to witness the sudden increase to N15,000 in less than two months.
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