Two weeks ago when I wrote about the cement manufacturers in the country and the need to encourage them, one of the responses was in the form of a question. The reader asked how to tackle the glut in the industry as of today. It is rather unfortunate that both the government and the private sector in Nigeria are not forward looking. At the moment the construction and housing sector of the economy which make use of cement are depressed.
As a result, the demand for cement is on the low side. Even if the price of cement comes down today, those who are not in position to build will not buy cement because it can not be stored for a long time. Perhaps in the new year as government at various levels begin to award contract for road construction, housing and others, the demand for cement will pick.
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