Business
Nigerians Decry Hike In Cement Price
Nigerians have expressed big doubts over the capability of the federal government to trim down the prices of cement in the country.
President Umaru Musa Yar’Adua in recent time approved the implementation of a number of measures aimed at boosting local cement manufacturing and bring down cement prices.
The price of the product at present is between N1,450 and N1,750 per bag of 50kg.
It’s high cost, as an important building material product has extensively affected the ability of many Nigerians to build houses, which market analylists attribute to the high cost of accommodation throughout the federation.
The Tide learnt that the way out were contained in the recommendations of the committee report set-up by the President to review the cement industry in the country.
The Committee which was led by the Minister of Finance, Dr. Mansur Muhtar, recommended among other things, the systematic and controlled programming of cement imports subject to appropriate tariffs, reinstating of policy of banning importation of bagged cement in line with national industrial policy.
Other measures were, issuance of cement import licences to only manufacturers and other players with outstanding commitment to back integration, including bulk cement importers with suitable bagging facilities. Furthermore, The Tide gathered that the Federal Government will also connect the granting of import licences to guarantee that the licences will be fully enforced within a short period of time.