By Mohammed Bello Doka
The Federal Government has issued a firm warning to Nigerian cement manufacturers, threatening to reopen borders for cement importation if they do not lower prices. Minister of Housing and Urban Development, Arc Ahmed Dangiwa, stressed that key input materials for cement production are sourced locally, making unjustified price hikes unacceptable.
In a press conference held yesterday, Minister Dangiwa emphasized that the skyrocketing prices of cement in the country are placing an undue burden on consumers and hindering infrastructural development projects. He pointed out that despite the availability of local resources for cement production, manufacturers have been increasing prices indiscriminately.
Dangiwa highlighted the case of BUA cement, commending the company for its willingness to lower prices below the agreed industry range of N7000 to N8000 per bag. He urged other manufacturers to follow suit, stating that it is imperative for them to prioritize the interests of the Nigerian people over profit margins.
Furthermore, the Minister challenged the excuses put forth by some manufacturers regarding rising gas prices and equipment costs for mining raw materials. He asserted that these challenges are not unique to Nigeria and are faced by cement industries worldwide. Therefore, he called on manufacturers to work together to find solutions instead of passing the burden onto consumers.
The threat to reopen borders for cement importation comes as a last resort measure by the Federal Government to ensure that cement prices remain affordable and conducive to national development. Minister Dangiwa warned that if manufacturers fail to heed the ultimatum, the government will have no choice but to take drastic action to protect the interests of the Nigerian people.
The announcement has stirred mixed reactions among stakeholders, with some expressing support for the government's stance on price regulation, while others caution against the potential negative impact of resorting to importation on the local cement industry.
As the deadline for compliance looms, all eyes are on Nigerian cement manufacturers to see whether they will heed the government's warning and take necessary steps to address the issue of exorbitant cement prices in the country.
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