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Quantity surveyors ask FG to throw the borders open to crash cement prices

The Federal Government recently held a meeting with local manufacturers over the rising cost of cement in the country.

Quantity surveyors ask FG to throw the borders open to crash cement prices

The Nigerian Institute of Quantity Surveyors (NIQS) has called on the Federal Government to open up the borders for cement importation to crash the commodity's price in Nigeria.

The body's position was made known by its president, Kene Nzekwe, at a press conference in Abuja on Friday, March 1, 2024.

The media parley was used to address the impact of hyperinflation on the Nigerian construction industry.

The NIQS aligned itself with the Federal Government, which recently threatened to open the borders for cement importation if the local manufacturers fail to adhere to a price agreement.

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Following a meeting with BUA, Dangote, Lafarge, and others on February 19, the government and cement manufacturing companies agreed to peg the price of the commodity between ₦7,000 and ₦8,000 per 50kg bag.

But a recent market survey showed that prices now hover between ₦10,000 and ₦13,000, representing a mile distant from the agreed price.

For his part, Nzekwe said, “The institute is in full support of the federal government’s pronouncement to open the borders, which was made by the Minister of Housing and Urban Development. We want it to be implemented, not just mere words.

“If the major cement manufacturers, Dangote, BUA and Lafarge want to hold the whole country to ransom, then the appropriate thing to do is to open up the borders to allow people bring in the same product and give them good competition,” he said.

The NIQS president further stated that there was an urgent need to sustain engagement with construction manufacturers to understand and address their peculiar challenges, especially the impact of the exchange rate volatilities.

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