Mr Chukwuka told the News Agency of Nigeria that 80 per cent of cement required to build houses were imported, while foreign exchange rate was fluctuating.
He explained that affordable houses entailed a situation where an individual‘s gross salary could secure a house.
“Most of the companies manufacturing cement in the country are epileptic; we can only boast of a few which cannot serve a population of over 140 million people, thus the decision to rely on imported cement.
“You do not expect someone who has imported cement to bring down the price of a house; he would be running at a loss,” Chukwuka queried.
