The Cement Producers Association of Nigeria has said the price of cement could rise from N5,000 to N9,000 due to the Federal Government’s decision to replace conventional asphalt with concrete to construct roads.
The National Chairman of the body, David Iweta, and the National Secretary, Reagan Ufomba, in a statement on Monday, said without proactive steps, the decision could lead to a significant increase in the price of cement during the dry season, which is between December to March.
The association predicted that it will sell for over N9,000 per bag in the dry season, especially with the pronouncement of the Honourable Minister of Works on cement technology and the marching order on housing by the President if the government does not take proactive steps.
The group stated that if the supply end is not properly addressed in the process of constructing cement-made roads, there will be dire consequences.
The chairman commented that to do otherwise is to continue in a worsening pipe dream that prices would suddenly drop on this essential input that will continue to drain the purse of Nigerians, render them homeless, encourage chaos between demand and supply, and worsen the infrastructure deficit it sets out to cure, and lead to an unprecedented price hike.
