Ancillary inputs into cement production won’t allow price crash – Lafarge

Key officials of Lafarge Holcim Africa have said that it is very unlikely that the cost of cement will revert to its former price.

Head of Corporate Communications, Ginika Frank-Durugbor gave this indication at a media interaction in Calabar on Wednesday.

It would be recalled that a few weeks ago, President Bola Tinubu gave a directive to cement manufacturers in the country to cut down the price of a bag of cement from N15,000 to N7000 which has failed.

Frank-Durugbor explained that the huge rate of foreign exchange in recent times has contributed to the high cost of cement.

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“The high costs of the ancillary inputs into the production of cement as seriously impacted by the high cost of foreign exchange are what has affected the price of cement.  Our products will go to customers at the right price”, she said.

She could not say if they would be able to revert the price of a bag of cement to the former rate as directed by the president given the hyperinflation in the country.

She added that local sourcing of quarry in Akamkpa and Akpabuyo LGA of the state, as well as, local production of contents, including cement bags, have helped to sell at ‘affordable price’.

Another key official of the firm, Tina Shobola disagreed that the sharp increment in cement price might lead to building collapse as the block industry might decide to cut corners.

She said they now ensure that they provide free technical assistance to their customers who are into construction to ensure durable and quality projects.