The Cement Producers Association of Nigeria has issued a stern warning, indicating that the Nigerian government’s proposal to introduce concrete roads could lead to a significant surge in cement prices, potentially reaching as high as N9,000 per bag. Currently, a bag of cement is sold at around N5,000, making the projected price increase a matter of considerable concern for consumers.
In a statement jointly signed by the National Chairman, Prince David Iweta, and the National Secretary, Chief Reagan Ufomba, the association highlighted the concerns of the cement industry and stressed the need for immediate government action.
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While commending the Minister of Works for advocating cement-made roads, the association also expressed serious apprehensions about the potential consequences if supply-related issues are not adequately addressed. They argued that failing to intervene promptly would be a disservice, as fluctuating cement prices have a direct impact on the financial well-being of Nigerians and exacerbate the nation’s existing infrastructure deficit.
To address these challenges, the cement producers called on the government to prioritize road design that accommodates both cement technology and asphalt pavement concurrently. This approach would allow for a seamless transition, providing contractors with the necessary time and opportunity to invest in essential equipment and retooling.
Additionally, the association urged the implementation of weighbridges at access points on highways to effectively regulate static and dynamic load traffic. Collaboration with various ministries, such as Trade and Investment, Transport, Environment, and Finance, to develop a realistic policy on cement pricing was deemed essential during these critical times.
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The association also called upon the government to conclude the backward integration policy initiated during the late Yar’adua administration. This policy had shown promise in enhancing the availability and affordability of cement within the country.
In summary, the Cement Producers Association of Nigeria emphasized the importance of expanding participation in the cement sector by inviting companies with verifiable evidence of local investment, including greenfield licenses and quarrying. They called for policy harmonization and convergence between fiscal and monetary policies, highlighting the need for decisive government interventions in the foreign exchange market and the restructuring of bad loans for manufacturers.
As the Nigerian government grapples with economic policies, the association’s plea resonates as a call for sustainable solutions to address the cement price hike issue and support the growth of the manufacturing sector.
[Source: Cement Producers Association of Nigeria]
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