Plea to FG as cement prices ‘hit the roof’

Prices of cement have gone out of hand, a Sokoto industrialist has alerted the federal government.

Nigeria currently produces 28.5 million metric tonnes of cement annually and is a net exporter of the product.

However, this has not translated to lower prices, contrary to economic principles.

Isa Musa,  an industrialist in Gwadabawa local government area of Sokoto State, told NAN that the federal government must “urgently address” the rising cost of cement.

He said on Friday that the product was now selling for  N2,200 per bag as against the between N1, 600 and N1,700 it was sold for  two months ago.

According to him, the high cost of cement is not good for the nation’s economy.

The industrialist said most of the raw materials used in the production of cement were locally sourced hence the need for the federal government to ensure reduction its price.

He said that the government’s plan to provide house for all would not be a reality if the price of cement continued to soar.

Musa urged the government to regulate the price as well as that of other building materials to enable Nigerians own houses.

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