Economy
THE National Association of Block Moulders of Nigeria (NABMON) has called on the Federal Government to encourage more local cement production to increase competition and stabilise prices.
The National President of NABMON, Mr Adesegun Banjoko, made the call in his New Year message to Nigerians on Wednesday in Lagos.
Banjoko said that high cost of cement had significantly impacted the industry’s profitability as well as affordability of construction.
“ The new wage regime has also fired unprecedented rising prices of commodities and utility items, and cement, our key raw material in block moulding, cannot be left out with its negative implications for the construction industry.
“With cement currently selling at N10, 000 per bag, one would need one million Naira to procure just 100 bags.
“Unfortunately, this is a helpless situation, with avoidable temptations for compromise with its negative pointers to building/construction collapse syndrome as a fall-out.
“To avoid such despicable situations, the government should encourage more manufacturers of cement,’’ he said.
He said that a thriving cement industry would contribute significantly to economic growth and development and serve the increasing population.
He said that the three manufacturers of cement in the country could not meet the demands of both private and public constructions
Banjoko urged the government to allow short-term cement imports to stabilise prices.
“Apart from proliferation in the cement manufacturing sector, a short-term importation of quality cement should be allowed to enable the law of demand and supply to determine favourable prices as well as sales terms and conditions,’’ he said.
The NABMON president acknowledged potential benefits from new government policies such as fiscal federation and tax reforms.
The NABMON president emphasised the importance of block moulders adhering to new building block standards set by the Standard Organisation of Nigeria (SON).
He expressed the association’s willingness to collaborate with the Federal Government particularly in providing industry data for planning purposes.
The NABMON president wished Nigerians a prosperous New Year, emphasising responsible citizenship and national development. (NAN)
1st January, 2024.
C.E.
Tags: National Association of Block Moulders of Nigeria
