Analyzing The High Cost of Cement
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Analyzing The High Cost of Cement

The governorship candidate of Accord Party in Akwa Ibom State in the 2023 general election, Engr (Dr) Emem Coffie, has blamed the rising cost of cement and reinforcement bars which are key component materials in the construction industry that employs over 70 per cent of the youths. This he stated is a calculated attempt by a cabal to strangulate the economy in order to disparage the government of the day.

In a statement he made available to journalists in Abuja, Engr (Dr) Emem Coffie said government cannot be blamed each time desperados who are players in those markets decide to insult the collective intelligence of Nigerians. In his words " How can you explain a situation where Cement prices increase daily at 500 naira per day per bag and reinforcing bars at 50,000 per Ton per day!! What economic law is that? It is just a programed Arithmetic progression of enemies of this Nation. Like a virus manufactured in the laboratory. A careful check, you will discover that is the trend across board".

He said that it is pertinent to note that if one says the government is insensitive, the real saboteurs are members of the cartel and cabal who are not only insensitive but barbaric and devilish.

He noted that the people committing the ‘dastardly acts’ have relations and family members suffering the same fate as a result of their greed, adding that the government should put a benchmark and sanction key players who won't play by the rules and also allow importation of food and cement, at least temporarily, into the country to force prices down with increased supply.

He said government needs to make very stringent rules on dollar transactions such that it encourages increase inflow of the dollar but discourages profiteering its sales, saying that this dangerous trend which has become the main drive of local banks, and the cartel should be curtailed.

He advised that more investors should be allowed to invest in cement production through waivers etc, in which most raw materials are locally sourced. “We cannot also ignore steel development and production if our industrialization drive must succeed. Government must be proactive in taking decision,” he added.

He noted that the Nigerian media has a huge burden and a responsibility to both the government and the citizenry.

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