The Federal Government has been requested to intervene and lower the price of cement in the nation by the Lagos Chapter of the Nigerian Institute of Building.

The institute made the announcement during a press conference held recently in Lagos in advance of the 32nd Builders Conference, which had the theme “Safe and Sustainable Building Production Management”.

The Federal Government’s action is required, according to Adeoye Thomas, Vice President of NIOB’s Lagos State Chapter, to stop the increasing price of cement.

Everything is predicated on foreign exchange, which is very awful, but it cannot be taken away from the cement makers since they are in the business to earn money.

“However, in advanced countries, the government intervenes. If the need is to subsidise, the government should do it. If not, sharp practices would become the order of the day, birthing building more collapses.

Cement price will increase to N9,000 – Manufacturers warn - Vanguard News

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It is unsustainable to purchase cement for N5,000 or more every bag. Buildings would thus continue to collapse because developers only care about their bottom line, which they achieve in part by hiring quacks and utilizing inferior materials.

Government involvement, whether through subsidies or partnerships with producers, is crucial.

Ogundare Abiodun, the Honorary Secretary of the NIOB’s Lagos State Chapter, also spoke during the panel discussion. Ogundare stressed the importance of government intervention in areas where the cost of manufacturing might be decreased, particularly for raw materials.

“Only 10% of the raw materials necessary to make cement are imported; the remaining 90% are found in our nation.

“If we have 90 per cent here, the government can work on whatever cost to be incurred when producing locally to help reduce the cost of production, hence the money would come down rather than increase.”

Building Institute Urges FG To Reduce Cement Price

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