High Cement Prices in Nigeria: NABMON Urges Lower Costs and Project Suspensions
In a recent statement, Adesegun Banjoko, National President of the National Association of Building Masons and Carpenters of Nigeria (NABMON), expressed concern over high cement prices in the country. According to him, the current price, ranging between 7,000 and 8,000 naira for a 50kg bag, is unjustified given the abundance of limestone, a key raw material in cement production, in Nigeria.
Banjoko warned of the potential consequences of these high prices, including compromising construction standards and increasing the risk of structural failures. He stressed that both the government and cement manufacturers should strive to offer more affordable prices to consumers.
To achieve this, Banjoko proposed reducing or eliminating tariffs on imported materials used in cement production, suggesting such measures would incentivize manufacturers to lower their prices.
Additionally, Banjoko recommended the temporary suspension of road construction projects that rely heavily on cement. According to him, this measure would relieve the pressure on demand for cement, which could lead to a fall in prices.
As the debate over high cement prices continues to rage in Nigeria, it is clear that concrete steps must be taken to ensure reasonable costs for consumers and maintain high construction standards in the country.
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