Nigeria – solving the cement price hike

Nigeria – solving the cement price hike
Published: 08 April 2011

The Federal Government of Nigeria recently convened a ‘Stakeholders’ meeting in Abuja to address the soaring price of cement in the country.

In attendance was the Minister of State for Commerce and Industry, Chief Mrs. Josephine Tapgun and representatives of the Cement Manufacturers Association of Nigeria (CMAN). In this report, our correspondent, Obinna Nwachukwu analysis the situation on ground and offers solutions to the lingering problem.

Apparently worried by the current price of cement which sells as high as N2400/bag (US$15.4)  in some cities in Nigeria, the Minister  at the meeting ‘expressed surprise’ over the continuous rise in the price of cement across the country, adding that the increase was having negative effect on the construction industry.

According to Mrs. Tapgun: “There has been public outcry regarding the recent increase in the price of cement, and as a Ministry, we also need to express our concerns. We had thought that things were going on fine in the cement industry, but we are alarmed that in the last three weeks, there have been continuous rise in the price and government feels it should not be so.

We are ready to partner local cement manufacturers to ensure that Nigeria achieves self-sufficiency in cement production”. The Minister, therefore, called on cement stakeholders to come up with suggestions on how to immediately reduce the present price of cement.”