CPAN calls for slash in cement price

CPAN – Cement producers association of Nigeria, called on the President-elect, Muhammadu Buhari, to slash the price of cement from the current N2, 200 to N1, 000 per bag.

CPAN made the request in a congratulatory message sent to Buhari and Prof. Yemi Osinbajo for emerging victorious at this year’s presidential election. They noted that the move would serve as the first dividend of change, which Nigerians voted for.

According to the group, cement sells costliest in Nigeria, noting that in countries that have attained self-sufficiency in production, the product goes for as low as N500 per bag. Yet the reverse is the case in the country despite government’s success claims and mouthing of Nigeria as a net exporter of the product.

CPAN noted that the product still sells under N1,000 per bag in most African countries. This, of course, raises question as to how that is possible if the product is exported at the same price as it is sold in Nigeria.

In the statement, they lamented that the cement industry has, in the last six years since the passage of President Musa Yar’Adua, witnessed wanton corruption and injustice.

The association particularly frowned at a situation where new foreign investors were allegedly barred from venturing into cement production to maintain the status quo. It reiterated that the situation is like that because a cabal, which wishes to monopolize the industry and enrich itself enough, is behind the opposition.