Nigerians To Buy Cement At N9,000 Per Bag – Manufacturers Warns

The Cement Producers Association of Nigeria has issued a warning that the federal government’s plan to introduce concrete roads may cause the price of cement to increase to N9,000 per bag from the current N5,000.

VerseNews learnt that they have called on the government to address the issue of cement price hikes and facilitate greater participation in the cement industry.

The association also commended the Minister of Works for promoting cement-made roads but cautioned about potential consequences if the supply issue is not properly addressed.

They suggested a road design that allows for both cement technology and asphalt pavement to run concurrently.

The association urged the government to conclude the backward integration policy to enhance the availability and affordability of cement in the country.

They called for policy harmonization and convergence between fiscal and monetary policies and recommended intervention in the foreign exchange market and restructuring of bad loans for manufacturers.