In a bid to stimulate growth in Nigeria’s cement manufacturing sector, the National Association of Block Moulders of Nigeria (NABMON) has called on the Federal Government to reduce import duties on components crucial for cement production.
The association emphasized the need to attract more foreign investment into the sector to enable market-driven pricing.
Adesegun Banjoko, the National President of NABMON, conveyed this appeal in a statement issued on Monday in Lagos. Banjoko expressed concern over the prevailing high prices of cement in Nigeria, ranging between N7,000 and N8,000 per bag, which he deemed excessive.
Despite government efforts to boost cement supply by considering opening borders, Banjoko noted that prices remained stubbornly high. He urged the government to not only lower import duties on cement manufacturing components but also encourage more global investors to participate in the sector, allowing market forces to determine fair prices.
Banjoko also highlighted the need to curb cement smuggling to neighboring countries, stressing that Nigeria, with its larger population, should have more robust production facilities compared to South Africa. He pointed out that while South Africa, with a population of 60 million, boasts 15 cement factories, Nigeria, with a population three times larger, only has three.
In light of this, Banjoko expressed optimism about ongoing research efforts aimed at discovering alternative materials for cement production within Nigeria. He commended the collaborative efforts between research institutes and universities in exploring locally-sourced alternatives for cheaper yet high-quality cement and other building materials.
The statement from NABMON underscores the urgency of addressing challenges within Nigeria’s cement sector and highlights the potential for innovation and collaboration to drive positive change in the industry.
