Connect with us

Business

Block Moulders Association calls for lower import duties for fair prices of cement

Published

on

Blocks

The National Association of Block Moulders of Nigeria (NABMON) has appealed to the Federal Government to lower the import taxes on cement production materials to increase foreign investments and reduce the price of cement in the country.

Mr. Adesegun Banjoko, the National President of NABMON, issued this statement on Monday in Lagos.

He stated that the pricing of a cement bag in Nigeria, presently between N7,000 and N8,000, is regarded as too costly.

Banjoko said the threat by the government to open up the borders to increase supply had also not brought down the prices.

Moreover, the president of NABMON also recommended that the government take measures to prevent the smuggling of cement to neighboring countries.

Banjoko observed that despite Nigeria’s larger population and presumably greater cement demand, its production facilities fall short compared to South Africa’s.

He said the need to invest in building more cement factories to meet the country’s domestic needs and become a potential exporter.

Banjoko, therefore, expressed optimism that ongoing research efforts would find alternative materials for cement production in Nigeria.

Earlier in February, the he federal government and cement manufacturers came to an agreement in Abuja on setting the price of one 50 kg bag of cement between N7,000 and N8,000.

Trending