Nigeria’s cement industry is in a dire need of healthy competition, as this would ensure that cement prices are brought down and there is a fair playing field, this is according to the Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Adedotun Bamigbola.

Bamigbola shared this in an interview with BizWatch Nigeria on the issue of housing in Nigeria, and the critical role of the Federal Government in enacting policies that would ensure that materials required for construction are locally produced and that no player is favoured over the other.

According to a report by financial journal Bloomberg, Dangote Cement’s global margin stands at 42 percent, in contrast to the 17 percent of the average global margin.

In Nigeria alone, Dangote Cement has cornered 65 percent of the cement market, while it has a 41 percent and 13 percent hold of the cement business in Cameroon and Ghana respectively.

Why Dangote continues to amass wealth from a business that has brought no significant innovation baffles many.

Many experts have pointed to favours in high places as the main reason for the chokehold the business has in the industry.

Read More: https://bizwatchnigeria.ng/fg-must-curb-monopoly-in-cement-industry/

Damgote will not be happy