Nigeria needs more cement manufacturers to stem price increase - BUA

The 5th edition of general meeting of cement companies held in Abuja yesterday the 8th of June 2021.

Wherein, the Chairman of the Board of Directors of BUA Cement Plc, Alhaji Abdul Samad Rabiu Spoke in favour of more "players" in the cement industry, while adding that the need of Nigeria's is hardly meet by Dangote , Lafarge and BUA, with regards to quantity of production against demand.

Currently, he explained, the aforementioned cement companies in the country are responsible for the production of only around 30 million tonnes of cement each year which hardly satisfies a population of about 200 million. He further added that and increase in population, perhaps by new "players" will for good, reduce the prices. 

He explained that this although would provide him with more competitors, was better and in some way will contribute to the economic growth of the country. 

He therefore encouraged the federal government to do the very best they can to bring in more investors into the sector with respect to meeting the demand of Nigerians.

He emphasized that the cost of cement in the country is hardly dependant on an individual, it is instead as a result of the rate of demand and supply.  He however assured that they will give support where necessary to making sure that the price of cement is becomes more and more considerable to potential home owners, builders as well as anyone needing cement.

The meeting concluded with promising efforts underway to ensure the drop in price of building cement.

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