Cement hits N13,000/bag: Why Nigerian govt should intervene now – Wammakko
Aliyu Wammakko, an expert in the housing sector has explained why the Federal Government needs to cut taxes associated with cement production and consider subsidies to bring down the rising cost of building materials and housing in Nigeria. Wammakko made this disclosure in an interview with DAILY POST on Friday. His comments come amid a hike […] Cement hits N13,000/bag: Why Nigerian govt should…
Former President of the Real Estate Developers Association of Nigeria, Aliyu Wammakko, has called for the Nigerian government to intervene in order to bring down the rising cost of cement and other building materials. Wammakko, speaking in an interview with DAILY POST, explained that the government should sign the Real Estate (Regulation and Development) Bill, also known as the RECON Bill, and review the multiple taxes and levies imposed on cement manufacturers.
He noted that the price of cement has risen by over 50 percent, leading to a spike in house rents. Wammakko emphasized that the soaring prices of building materials are worsening Nigeria's housing deficit and making home-ownership increasingly unaffordable for ordinary Nigerians. He specifically urged for incentives and subsidies for cement production, asserting that cheaper building materials would ultimately reduce the cost of housing.
Wammakko also called for more funding to be directed into the Federal Mortgage Bank so that Nigerians can access affordable finance for affordable construction, estimating a requirement of at least N1 trillion.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
