He made this disclosure at the 8th Annual General Meeting of the company recently in Abuja.
According to Rabiu, while BUA Cement sold over a million tonnes of cement to dealers at N3,500 per bag, intending that the benefits would be passed on to end-users, the dealers sold the cement to consumers at prices as high as N7,000 to N8,000 per bag.
In a bid to ensure housing affordability in Nigeria and address the country’s housing deficit, the government has implemented several measures, including stakeholder engagement.
However, many of those interventions seem out of reach for the average citizen, with the high unit cost of houses often blamed on the rising cost of inputs.
The International Human Rights Commission reported last year that more than 28 million Nigerians lack access to decent and affordable housing.
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