In a proactive move to address the escalating cost of cement and other building materials, Ahmed Dangiwa, Nigeria’s Minister of Housing and Urban Development, has convened a strategic meeting with manufacturers within the industry.
This initiative, as outlined in a statement by his special adviser on media, Mark Chiese, on Thursday, aims to delve into the challenges facing the sector, with a focus on devising strategies to curb the rising prices and facilitate the provision of affordable housing across the country.
The minister expressed concern over the soaring costs of building materials, which have seen a dramatic increase despite Nigeria’s rich deposits of raw materials necessary for production.
A recent survey along the airport road indicated that the price for a 50kg bag of cement has surged to N9,000, marking a 38.8 percent increase from its previous rate of N5,500 just a week earlier.
Particularly troubling to Dangiwa is the sharp rise in cement prices, a situation he finds paradoxical given that local producers source the majority of their raw materials domestically.
This observation raises questions about the factors contributing to the disproportionate price hikes and underscores the need for collaborative efforts to find lasting solutions.
The meeting’s agenda also extended to discussions on the progress of partnerships between the Federal Mortgage Bank of Nigeria (FMBN), the Nigeria Labour Congress (NLC), the Trade Union Congress (TUC), and the Nigeria Employers Consultative Association.
These talks highlighted the National Affordable Housing Delivery Programme for Nigerian Workers, an initiative Dangiwa championed during his tenure as Managing Director of the FMBN.
By engaging directly with cement and building material manufacturers, the Ministry of Housing and Urban Development seeks to forge a path towards more affordable housing in Nigeria, mitigating the impact of high construction costs on housing accessibility for Nigerian workers and the general populace.
Dangiwa said, “It is disheartening to see how much Nigerians have to pay for essential building commodities like cement, with the prices rising almost on a daily basis. I don’t understand the reason for this increase, and it is not acceptable.