The association believes that competition will help stabilise cement prices in the construction sector.
Adesegun Banjoko the National President of NABMON, made this appeal in a New Year message delivered in Lagos on Wednesday, January 1.
He noted that the crippling impact of high cement prices on the industry and broader construction affordability, the Guardian reports.
Banjoko said:
He warned that the high cost of cement could lead to unsafe compromises in construction quality, increasing the risk of building collapses.
He said:
Banjoko stressed that the current supply from the country’s three cement manufacturers falls short of meeting demand from private and public construction projects, NAN reports.
To alleviate the crisis, the NABMON president proposed allowing short-term cement imports to stabilise prices while the domestic industry scales up production.
Banjoko added:
Banjoko expressed optimism about potential benefits from recent government initiatives, such as fiscal federalism and tax reforms, which he believes could foster growth in the sector.
He also underscored the importance of compliance with building block standards set by the Standards Organisation of Nigeria (SON), reiterating NABMON’s readiness to collaborate with the government to provide industry data for effective planning.
The NABMON president concluded his message by wishing Nigerians a prosperous New Year and emphasizing the need for responsible citizenship to drive national development.
Ealier, TimesNow.com.ng reported that the House of Representatives Joint Committee has issued a directive to manufacturers, including Dangote Cement, BUA Cement, and Lafarge Africa.
Jonathan Gaza, the committee’s chairman, stated that manufacturers must present a detailed breakdown of production costs to justify the recent increase in cement prices.
The lawmakers observed that while cement prices are notably high in the North and several other states.
Source: TimesNow.com.ng
