Nigeria: The Senate of Nigeria has known as for the federal authorities to introduce insurance policies, akin to tax breaks, to encourage native investments in cement manufacturing. The higher legislative chamber made the decision following a debate a few invoice meant to calm down guidelines surrounding cement coverage within the nation, in accordance the Punch newspaper. It additionally requested the federal authorities to supply extra industrial incentives and protections akin to providing concessionary loans and bigger tax incentives for brand spanking new entrants to be able to increase manufacturing of cement, cut back costs and encourage extra ‘invaluable’ native producers.
Senator Lola Ashiru, one of many co-sponsors of the invoice, famous that cement was one of many few constructing supplies during which Nigeria was self-sufficient with manufacturing capability reportedly over twice as excessive as estimated consumption in 2018. Nonetheless, he stated that cement costs within the nation have been about 240% greater than the worldwide common.