News
What FG Must Do To Reduce The Price Of Cement – Block Moulders Association Reveals
-
What FG Must Do To Reduce The Price Of Cement – Block Moulders Association Reveals
-
President of NABMON, Adesegun Banjoko, emphasizes that current cement prices remain high despite government’s threats to open borders for increased supply.
-
Banjoko highlights the need for more cement factories in Nigeria and encourages research for alternative, locally-sourced materials to reduce costs.
EKO HOT BLOG reports that the National Association of Block Moulders of Nigeria (NABMON) has urged the Federal Government to lower import duties on cement manufacturing components to stimulate increased foreign investment in the sector.
The Association recommends reducing import tariffs on these components and encouraging more international investors to participate in the industry, allowing market forces to determine fair prices.
EDITOR’S PICKS
- BREAKING: FG Declares Friday, Monday
- Why Abuja Will Experience ‘Partial’ Blackout – AEDC Public Holidays For Easter
- [JUST IN] Decades Of Darkness: Port Harcourt Airport Communities Protest Neglect, Disrupt Flight Services
The National President, NABMON, Adesegun Banjoko made the call in a statement issued on Monday in Lagos.
Banjoko lamented that the present price of one bag of cement in Nigeria, currently in the region of N7,000 and N8,000 was still considered too expensive.
He noted that the threat by the government to open the borders and increase the supply of cement has also not brought down the prices.
“Of recent, the issue of our key raw material, cement, attracted front burner attention nationwide, and the dust is yet to finally settle as far as we are concerned because the N7000 to N8000 offer is still on the high side.
Price Of Cement
“The government has threatened to open the borders to increase supply.
“Please also reduce import duties on imported components for manufacturing cement and also invite more global investors into the sector so that ‘the market can determine fair prices”, he said.
The NABMON president also urged the government to discourage cement smuggling to neighbouring countries.
He said that Nigeria has a larger population and presumably a higher demand for cement, yet it lags behind South Africa in production facilities.
“South Africa, with a population of 60million, has 15 cement factories, and Nigeria with a population three times larger has only three cement factories, then there is still much work to be done,” he added.
Banjoko, therefore, expressed optimism that ongoing research efforts would find alternative materials for cement production in Nigeria.
FURTHER READING
- BREAKING: Notorious Bandits’ Leader, Dogo Gide Is Dead
- Oil Marketers Deny Petrol Price Drop Amidst Market Stability
- Play Your Part, Prayers Will Not Fix Nigeria – Presidency
“It is, however, heart-warming to our awareness that all hands are currently on deck at our research institutes and universities on cement innovations research.
“This is with a view to finding locally sourced alternative materials for cheaper, quality cement and even other building materials“, he said.
Click to watch our video of the week
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
