CEMENT, BUILDING MANUFACTURERS, HOUSING AND URBAN DEVELOPMENT MINISTER MEET OVER HIKE IN PRICES ..... Minister Says Increase In The Prices Of Cement, Other Materials, Alarming.
 |
Arc Ahmed Musa Dangiwa |
"The government is taking steps to create an enabling environment that helps them boost local manufacturing of building materials." Arc Ahmed Danigwa
In order to address the alarming rise in the prices of materials in the construction industry and to ensure the delivery of affordable housing for all in Nigeria, the Minister for Housing and Urban Development Arc. Ahmed Musa Dangiwa has met with Cement and Building Materials Manufacturers.
The Minister, during the meeting in his office in Abuja, assured the Cement and Building Materials Manufacturers that under the Renewed Hope Agenda of President Bola Ahmed Tinubu, the government is taking steps to create an enabling environment that helps them boost local manufacturing of building materials.
Arc Dangiwa stated that, "As you are aware, over a couple of months, our country has witnessed a steady, recurring, and alarming increase in the prices of cement and other materials.
"This situation has worsened in the past weeks, with the price of a bag of cement in some parts of the country reported to be as high as over N10,000 from the average cost of N4,500-N3,500 months ago, which represents a N100 percent rise.
He recalled that, "Late last year, BUA Cement announced a commendable reduction in the price of Cement from N5,500-N3,500 which was applauded by him and other stakeholders, wondered why today, the reality is that of escalating Cement prices.
Arc Dangiwa acknowledged that, "Clearly, this is a crisis for Housing delivery and the Construction industry. An increase in essential building materials means an increase in the prices of houses. An increase in the cost of building houses means more and more Nigerians can no longer afford to own houses and provide decent shelter for themselves and their loved ones.
He stated that, "That is why as a government, and the Federal Ministry of Housing and Urban Development, we are alarmed, and we had to quickly convene this meeting. The aim is to engage with you so we can fully understand the reasons for these increases and map out ways to address this crises from snowballing and threatening the plans of President Bola Ahmed Tinubu to actualize the Renewed Hope Agenda for housing and urban development.
The Minister who said the government was aware of the macroeconomic challenges that the country is facing, such as the volatility in the country's foreign exchange market, the Naira-dollar rate, and the impact on business operations, said "we also know that most of the components/raw materials of producing building materials, especially cement, are locally sourced, and considered recurring disproportionate increase in the price of Cement as unacceptable and unreasonable.
"Key inputs materials such as limestone, clay, silica sand, gypsum within our borders should not be dollar-rated.
"As we work hard to deliver the Renewed Hope Vision to provide decent and affordable shelter from all Nigerians, particularly the low and medium income earners, as well as vulnerable members of our society, the burden on increasingly exorbitant prices of building weighs heavily on our efforts, The Minister stated.
Making sure that all at the meeting participate and carried along in the discussion to finding a solution to the hike in prices, the Minister told the Cement and Building Materials Manufacturers that, "So, in this meeting, we want to hear from you so we can address this crisis that we face.
No comments
Drop Comment