However the price slash which many had waited patiently for did not materialize and industry watchers believe that the announcement was a form of marketing strategy by company, noting that no manufacturer can afford to sell a 50kg bag of cement at N1, 000 with Nigeria’s present economic condition.
However the Cement Producers Association of Nigeria (CPAN) has said that the product can be sold even below N1, 000 if the sub sector is adequately sanitized, DAILY INDEPENDENT reports.
The association has called on the president- elect, General Mohammadu Buhari, to declare, at his inauguration, a change in the price of cement from N2, 200 per bag to N1, 000 per bag, saying this would serve as the first dividend of change, which the people of Nigeria voted for.
According to a statement signed by the chairman of the association, Prince David Iweta, Nigeria is the country with the highest price of cement in the World.
He said countries that have attained self sufficiency in cement production all over the world sell cement at N500 per bag but lamented that in Nigeria where the federal government has claimed success in the cement industry and net exporter of cement, the product is selling at N2, 200 per bag.
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