Time For Tinubu To End Monopoly, Nigeria Has Highest Cement Price In The World — Producers

The National Chairman, Cement Producers Association of Nigeria (CEPAN), David Iweta, on Thursday, said Nigeria has remained the country with the highest cement price in the world for about 10 years now.

Iweta noted that despite claims by the three major cement plant owners in the country, Nigeria will need d additional seven to 10 million metric tonnes (mmts) per annum to meet local demand, no thanks tan o increase in housing and infrastructure construction.

He called on President Bola Tinubu to end the monopoly in cement production and distribution by allowing other players to come in.

Speaking in Lagos, Iweta said the inability of the industry to meet the demands for the commodity was the cause of the high price of cement in the country.

He called for the inclusion of companies with verifiable local investments in cement within the participation scope.

According to Iweta, government should deliberately encourage new players into the industry by giving licences for limestone exploration to produce locally.

Besides, he urged government to encourage financial institutions to support the initiative.

Iweta said, “The only remedy is for the government to allow those with unutilised cement licences to be brought in. I mean the quarry licenses that were given to us to produce cement locally, which should have expired, it should be updated so that when we finish those quantities (500,000 mmts import each), we will now start producing locally and that will be within the period of two to three years.

“As we bring the imported product for the interim supply to fill the gap, after we will all go back into local production.

“If you check the price of cement anywhere in the world, Nigeria has the highest price.

“Presently, Dangote produces 17mmts, BUA, – 10mmts and Larfarge, -7mmts. There is need for additional 10mmts to meet demand.”