Key officials from Lafarge Holcim Africa shed light on the factors contributing to the current cement price surge in the country..READ FULL ARTICLE HERE>>>>
According to Head of Corporate Communications, Ginika Frank-Durugbor, the high cost of ancillary inputs into cement production, heavily impacted by the high cost of foreign exchange, has led to the current price hike.
While President Bola Tinubu had earlier directed cement manufacturers to reduce the price of a bag of cement from N15,000 to N7000, the realities of the market have made this difficult to achieve.
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The persistent hyperinflation in Nigeria has further complicated the situation.
Despite these challenges, Lafarge Africa has been able to maintain a certain level of affordability through local sourcing of quarry materials in Akamkpa and Akpabuyo Local Government Areas, as well as local production of cement bags.
However, the company has not been able to provide a clear timeline on when the price of cement will revert to its former rate.
Tina Shobola, another key official of the firm, addressed concerns that the price increase could lead to building collapse due to potential corner-cutting in the block industry.
To mitigate this risk, Lafarge Africa has been offering free technical assistance to their customers in the construction industry to ensure durable and quality projects.
The cement price surge in Nigeria is a complex issue, with various factors at play.
While the government and manufacturers like Lafarge Holcim Africa are working to find a solution, it is essential that quality assurance remains a top priority to avoid potential hazards in the construction industry..READ FULL ARTICLE HERE>>>>
