NIOB urges FG to subsidise cement

The Nigerian Institute of Building, Lagos Chapter, has called on the Federal Government to intervene and reduce the cost of cement in the country.

It made the call at the press briefing in preparation for the 32nd Builders Conference themed “Safe and Sustainable Building Production Management” in Lagos recently.

The Vice President of NIOB, Lagos State Chapter, Adeoye Thomas, said the intervention of the Federal Government was needed to stop the skyrocketing prices of cement.

He said, “Everything is based on foreign exchange, which is very bad, and it cannot be taken away from the manufacturers of those cement because in the business to make a profit. However, in advanced countries, the government intervenes. If the need is to subsidise, the government should do it. If not, sharp practices would become the order of the day, birthing building more collapses.

“Buying cement at the rate of N5,000 or more is not sustainable. Hence, buildings would keep on collapsing as developers just want to make a profit, and they do this also by engaging quacks and using substandard materials. The intervention of the government is very important either by subsidising or collaborating with the manufacturers.”

In the same vein, the Honorary Secretary, NIOB, Lagos State Chapter, Ogundare Abiodun, said there was a need for the government to intervene in the areas where the cost of production can be reduced, especially for the raw materials.

He said, “About 10 per cent of the material used in the production of cement is imported, and we have 90 per cent here in the country. If we have 90 per cent here, the government can work on whatever cost to be incurred when producing locally to help reduce the cost of production, hence the money would come down rather than increase.”