In a recent announcement, the Cement Producers Association of Nigeria has issued a cautionary note to the public, forewarning of an impending hike in cement prices from ₦5000 to ₦9000.
This development is directly linked to the Federal Government’s ambitious plan to implement concrete roads across the nation.
The Association’s statement, jointly signed by its National Chairman, Prince David Iweta, and National Secretary Chief Reagan Ufomba, was released on Sunday.
It applauded the Minister of Works, David Umahi, for his resolute stance in favor of constructing roads using cement.
However, the Association has sounded a clarion call, asserting that if the supply-side challenges are not adequately addressed, this move could have dire consequences.
It contends that a failure to manage the supply chain effectively could dash the hopes of countless Nigerians who had been anticipating a decrease in the price of cement.
The looming price increase has sparked concerns among consumers, builders, and stakeholders in the construction industry, as they grapple with the potential economic implications of this decision.