Business
Rising cost of cement is posing a threat to housing projects – FG cries out
The Federal Government has bemoans the rising cost of cement in the country.
The minister of Housing and Urban Development, Ahmed Dangiwa, in a meeting with cement manufacturers in Abuja on Tuesday, February 20, said there has been 100 percent increment in the price of cement in the past few months.
He said the unfortunate situation poses a thr£at to housing delivery which is the main focus of the Ministry, and a priority of the Bola Ahmed Tinubu administration.
Dangiwa noted that the incessant hike had overtaken the country in the past few months, causing a 100 per cent rise in price from N5,500 to N10,000.
According to him, “This represents a 100 per cent rise, and it is not only on cement. we have also seen near-record high escalations in the prices of other building materials such as iron rods and other fittings. An increase in essential building materials means an increase in the prices of houses.
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