The Minister of Housing and Urban Development, Ahmed Dangiwa, has expressed concern over the escalating prices of building materials nationwide.
Dangiwa revealed his intention to convene a meeting with cement manufacturers and other suppliers of building materials across the country to address the issue.
During a visit by a delegation comprising the Federal Mortgage Bank of Nigeria (FMBN), Nigeria Labour Congress (NLC), Trade Union Congress (TUC), and the Nigeria Employers Consultative Association (NECA) to his office in Abuja, the Minister voiced his dismay at the substantial rise in prices of essential construction commodities like cement, which he noted are increasing almost daily.
He emphasized, “It is disheartening to witness the exorbitant costs Nigerians are now forced to bear for crucial building materials such as cement. The continuous price hikes are unacceptable.”
Dangiwa pledged to engage with manufacturers to ascertain the reasons behind the persistent price hikes, particularly since the raw materials for cement production are sourced locally in Nigeria.
He challenged the notion of solely attributing the price increases to fluctuations in the exchange rate, stressing that essential minerals like limestone, clay, silica sand, gypsum, and iron ore are readily available within the country.
The Minister’s comments come amidst reports that the price of a 50kg bag of cement has surged to over N10,000 in some regions, a significant jump from its previous price of N5000 just weeks ago.
