The national chairman of the Cement Producers Association of Nigeria (CEPAN), David Iweta, stated that Nigeria has had the highest cement prices globally for about a decade.

He highlighted the need for an additional 7 to 10 million metric tonnes (mmts) per annum to meet local demand due to the increasing construction of housing and infrastructure.

Iweta called on President Bola Tinubu to end the cement industry’s monopoly by allowing new players to enter the market.

He suggested updating quarry licenses and encouraging financial institutions to support the initiative, emphasizing the importance of meeting demand at a reasonable price.