Nigerian Quantity Surveyors Support Government’s Move to Open Borders for Cement Importation

The Nigerian Institute of Quantity Surveyors (NIQS) has backed the Federal Government’s decision to open the borders for cement importation if local manufacturers fail to adhere to a price agreement.

This move comes as a response to the rising cost of cement in the country, which has significantly impacted the construction industry.

During a press conference in Abuja on March 1, 2024, the President of NIQS, Kene Nzekwe, stated that the body is in full support of the government’s plan to open the borders and allow cement importation.

The move is aimed at providing good competition to major cement manufacturers such as BUA, Dangote, and Lafarge, who currently dominate the market.

Following a meeting with the major cement manufacturers on February 19, 2024, the government and cement producers agreed to peg the price of cement between ₦7,000 and ₦8,000 per 50kg bag.

However, recent market surveys have shown that prices now hover between ₦10,000 and ₦13,000, indicating that the agreed price is not being adhered to.

Nzekwe emphasized the need to sustain engagement with construction manufacturers to understand and address their unique challenges, particularly the impact of exchange rate fluctuations.

The NIQS’s support for the government’s decision to open the borders for cement importation could potentially lead to increased competition and a more stable construction industry in Nigeria.