Price Hike: Senator Ashiru Introduces Motion To ‘Liberate Cement Industry’

…Says Price Hike Almost Collapse FG Procurement Plan

…Calls for concessionary loans, tax incentives for new entrants

The Senator representing Kwara South Senatorial District, Arch Oyelola Ashiru on Tuesday sponsored a motion on the “Need for Liberalization of Cement Policy in Nigeria”.

Senator Ashiru noted that, the increase in price of Cement ( from N2,600 – N3,800) has slow down the pace of construction work being embarked upon thus negatively reducing labour engagement and almost collapsed the procurement plan of the government in 2020 Appropriation Act.

The lawmaker therefore call on the Federal Government to provide more industrial incentives and industrial protection such as offering concessionary loans and larger tax incentives for new entrants in order to boost production of cements, reduce price and encourage more valuable producers in Nigeria.

He further urged the Federal Government to set up a Committee to investigate anti-competitive practices by local cement producers; direct the cement industries in Nigeria to increase their productions and reduce the price of 50 Kg of cement to barest minimum considering the fact that the materials for its production are mainly sourced locally.