In a bid to stem the rising value of cement and different constructing supplies and enhance the supply of inexpensive housing in Nigeria, the Minister of Housing and City Improvement, Ahmed Dangiwa, has referred to as for a gathering with producers of cement and different constructing supplies within the nation. .
This transfer is aimed toward higher understanding the challenges within the sector, strengthening measures to mitigate the rising prices of development supplies within the nation and discovering sustainable methods to deal with them.
In an announcement by particular media advisor Mark Chiese on Thursday, the minister regretted the excessive value of development supplies, regardless of the abundance of uncooked supplies within the nation.
Checks by our correspondent revealed {that a} 50kg bag of cement bought for N9,000 alongside the airport highway, a rise of N3,500 or 38.8 % from the N5,500 bought the week earlier than.
He additionally questioned the recurring disproportionate improve within the value of cement specifically, particularly contemplating that cement producers within the nation supply nearly all their uncooked supplies regionally.
The minister mentioned this throughout a courtesy go to of a delegation from the Federal Mortgage Financial institution of Nigeria, Nigeria Labor Congress, Commerce Union Congress and the Nigeria Employers Consultative Affiliation to evaluate the progress of collaboration between the FMBN and the employment facilities, particularly because it issues the Nationwide Inexpensive Housing Supply Program for Nigerian Staff, which he initiated throughout his time as Managing Director of the FMBN.
Dangiwa mentioned: “It’s disheartening to see how a lot Nigerians should pay for important development supplies like cement when costs are rising nearly every day. I don't perceive the rationale for this improve and it’s not acceptable.
“I’ll quickly be assembly with these producers in order that they will clarify to Nigerians the explanations for such incessant will increase. I do know that the cement producers get their uncooked supplies from Nigeria; limestone, clay, quartz sand, gypsum, iron ore and the remainder. These minerals are in abundance in Nigeria and these producers supply them right here, so there isn’t a motive to attempt to blame this all on the rise of the greenback,” he mentioned.
Dangiwa additional assured the delegation of presidency's dedication to offering first rate and inexpensive shelter and livable communities to low and center revenue earners in addition to the susceptible within the society.
He mentioned the federal government will create an enabling surroundings for the non-public sector to thrive, together with by making certain that development supplies are inexpensive and accessible.
Recall that the ministry inaugurated the Constructing Supplies Reform Job Crew in January as a part of efforts to develop the constructing supplies trade by way of the institution of Constructing Supplies Manufacturing Hubs in every of the nation's six geopolitical zones.
The minister mentioned whereas the hubs are but to be commissioned, there’s a want to interact with trade gamers, comparable to constructing materials producers, to advertise affordability.
Talking on the partnership between the FMBN and arranged labour, Dangiwa confused the necessity for the FMBN to reform and innovate its operations, calling on the NLC, TUC and NECA to undertake the Financial institution and the Nationwide Housing Fund Scheme as their very own operations contemplate. encourage and assist the establishment to carry out higher in offering first rate shelter to their members.
“The reality is that regardless of the shortcomings of FMBN, which we try to deal with, there isn’t a different residence possession platform that may present housing to the phase of Nigerians you characterize, on the phrases that the FMBN affords.
“From the single-digit rates of interest on loans starting from 6 to 7 % versus the business rate of interest of 18 to 24 % on business residential loans, to lengthy phrases of 30 years versus business phrases of 5 to 10 years. Zero to a most of 10 % fairness versus 30 % fairness for business loans, FMBN is an establishment that requires the assist of all stakeholders to operate. There may be completely no various,” he mentioned.
