The Federal Government has been called on by the National Association of Block Moulders of Nigeria to promptly institute a Commodity Price Regulation Board aimed at overseeing the pricing of cement nationwide.<\/p>\n
Mr Adesegun Banjoko the National President, NABMON, said that setting up the board and effectively implementing its recommendations on the prices of cement would address the continued rise in prices nationwide.<\/p>\n
He made the call in Lagos on Thursday.<\/p>\n
Vice President Kashim Shettima, earlier at a two-day high-level strategic meeting on climate change, food systems, and resource mobilisation in Abuja, announced the Federal Government\u2019s plan to set up a commodity board to regulate the prices of grains and other items in the country.<\/p>\n
A Federal High Court in Lagos on February 7 had also said the Federal Government should fix the prices of goods and petroleum products within seven days.<\/p>\n
According to Banjoko, the swift establishment of the board will also prevent unfair practices and make it easier for many Nigerians to own their own homes.<\/p>\n
He said, \u201cThe rate at which the cost of building materials in Nigeria keeps increasing daily leaves much to be desired as our price index.<\/p>\n
\u201cIn particular, the daily increase in the cost of cement, which is commonly used for various construction works as a main bonding agent to other materials, is of very grave concern.<\/p>\n
\u201cOne of the inevitable fallouts of this vicious trend will be a fresh wave of building and construction collapses\/ distress.
\n\u201cThis will be attributable to the factor of managing materials and cutting corners as a result of high prices, thereby, leading to loss of lives and property.\u201d<\/p>\n
The government were urged by the NABMON president to increase competition by encouraging both local production and responsible importation to lower prices through higher supply.<\/p>\n
\u201cAccording to reports reaching my table as the national president, cement presently sells for between N7,500 and N11,000 per bag.<\/p>\n
\u201cIn particular, reports from Ondo State confirm N11,000.<\/p>\n
\u201cOur government should braze up against enemies of this nation, making life unbearable for the common man in their various disservice roles.\u201d
\nBanjoko also called on the government to address and manage the foreign exchange volatility.<\/p>\n
He explained that managing foreign exchange volatility through monetary policies and diversifying export revenue sources could help stabilise the impact of the dollar.<\/p>\n
He, therefore, advised the government to act proactively, stressing that delaying action could exacerbate the situation, making future solutions more complex and expensive.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Federal Government has been called on by the National Association of Block Moulders of Nigeria to promptly institute a Commodity Price Regulation Board aimed at overseeing the pricing of cement nationwide. Mr Adesegun Banjoko the National President, NABMON, said that setting up the board and effectively implementing its recommendations on the prices of cement […]<\/p>\n","protected":false},"author":24,"featured_media":19901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[617],"class_list":["post-19894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-fg"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/19894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=19894"}],"version-history":[{"count":2,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/19894\/revisions"}],"predecessor-version":[{"id":19915,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/19894\/revisions\/19915"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/19901"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=19894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=19894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=19894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}