Senate Moves to Reduce the Price of Cement In Nigeria

We are pleased to inform you that the Nigeria Senate has advised the Federal Government led by President Muhammadu Buhari to create liberal policies that would lead to the reduction of cement price in Nigeria. gathered that Senate made the recommendation on Tuesday when they adopted a motion on the liberalisation of cement policy in the country.

However, the lawmakers called on the federal government to provide more industrial incentives to cement manufacturers across the country, saying there was a need to encourage policies that would stimulate more investment in the manufacturing of cement.

One of the Senators who sponsored the motion, Hon. Yisa, said that cement was of strategic importance to the Nigeria’s infrastructure.

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“We should be worried that the significant rise in cement prices in the country and the low purchasing power of Nigerians may result in substandard building constructions and non-completion of planned infrastructural works.

“It’s strongly believed that there is an urgent need to encourage more local production of cement to satisfy the demands of Nigeria with a steady growth rate of approximately three per cent per annum; a housing deficit of 30 million units and less engagement of over 10.5 million workforce of the building and construction industry”, Yisa said.

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Updated: April 22, 2021 — 11:34 am

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