Amidst Economic Hardship, Cement Producers Association Of Nigeria Threatens Price Surge to N9,000: Here’s Why

 Amidst Economic Hardship, Cement Producers Association Of Nigeria Threatens Price Surge to N9,000: Here’s Why....KINDLY READ THE FULL STORY HERE▶

Written By Oshiobugie Omo-Ikirodah

The Cement Producers Association of Nigeria (CPAN) has issued a warning to the Federal Government concerning the probable hike in cement prices. They caution that the ongoing proposal to shift towards concrete roads, championed by Works Minister, David Umahi, will significantly increase the price of cement from the current N5,000 to an alarming N9,000 per bag if the supply chain isn’t strategically addressed. CONTINUE READING

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This revelation has sent shockwaves throughout the nation, prompting severe reactions from concerned Nigerians. Some reactions include:

• Tolu Ayodeji: “As if things weren’t hard enough! Now this? The government must reconsider.”
• Amina Haruna: “Importing cement might be our best option if it means stabilizing prices.”
• Chuka Okeke: “Our economy can’t handle such a hike right now. This is concerning!”

Amidst these concerns, the Minister of Works, sensing the urgency, has suggested that President Tinubu consider permitting the importation of cement. This move is seen as a strategic decision to boost competition in the sector and potentially keep prices in check.

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Adding to the pressure on cement supply is the ambitious super highway project, slated to run from Abuja to Lagos. With the highway projected to be completed in the next four years, it’s designed to be constructed primarily using coastal cement. This massive demand, as pointed out by the association, is a key factor driving their price projection.

Source: Bushradiogist