The Cement Producers Association of Nigeria (CPAN) has expressed concerns over the federal government’s plan to construct concrete roads, warning it could cause cement prices to soar to N9,000 per bag.
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In a statement, CPAN commended the Minister of Works for supporting cement-based roads but cautioned about potential price hikes without adequate supply-side measures.
The association noted cement already sells for N6,000 in the rainy season, predicting over N9,000 in the dry season if supply issues are not addressed before the proposed concrete road projects.
CPAN called on the FG to intervene in the cement industry to permanently resolve frequent cement price spikes, saying Nigerians should not pay more than N5,600 per bag.
The producers recommended allowing time for a smooth transition to cement roads, enabling contractors to invest in necessary equipment.
They also want FG intervention in forex and loan restructuring to aid manufacturers.
The caution comes as the FG plans mass construction of concrete roads instead of asphalt. The Bua Group had earlier predicted that cement prices will drop from N5,000 to N3,500 with its new plant.
However, CPAN warns that concrete road projects could create a huge supply-demand imbalance and price shock without proactive measures by the government.
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