Nigeria has remained the country with the highest cement price in the world for about 10 years.
This was disclosed by David Iweta, the national chairman, Cement Producers Association of Nigeria (CEPAN) in a chat with newsmen.
Besides, he said despite claims by the three major cement plant owners in the country, Nigeria will need additional seven to 10 million metric tonnes (mmts) per annum to meet local demand, no thanks to increase in housing and infrastructure construction.
All Nigeria Latest News reported that Iweta maintained that the high cement price in the country was due to the inability of the industry to meet the demands for the commodity.
“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,” Iweta said.
The national chairman of CEPAN while suggesting ways out called on President Bola Tinubu to end the monopoly in cement production and distribution by allowing other players to come in.
Iweta called for the inclusion of companies with verifiable local investments in cement within the participation scope.
According to him, government should deliberately encourage new players into the industry by giving licences for limestone exploration to produce locally.