, Osilama Emmanuel Osilama, has said that reduction in cement price will help developers across the country deliver affordable houses to Nigerians.
The bill sponsored by Senator Ashiru Oyelola Yisa and five others said such policies should include provision of industrial and larger tax incentives to encourage local investments in cement production in Nigeria. Yisa said: “As at 2018, the installed capacity of cement producers was about 47.8 million metric tonnes which is far above the estimated consumption of about 20.7MMT.“Yet, the prices of cement in Nigeria- – is about 240 per cent higher than the global average”.
“Mindful that the Nigerian cement market is oligopolistic in nature with three players ; Lafarge Africa Plc and BUA Group , largely dominating the scene therefore making it susceptible to price fixing practices.
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