- Yemi Osinbajo has lamented the high price of cement in the country
- In spite of the fact that Nigeria is ranked the biggest producer of the product in Africa, cement is still expensive
- Osinbajo notes that cement production is a profitable business
Vice President Yemi Osinbajo on Tuesday, July 17, decried the high price of cement in the country despite the fact that Nigeria is ranked the biggest producer of the product in Africa.
Osinbajo, who spoke at Kalambaina, Sokoto, during the commissioning of the $350 million BUA Sokoto cement plant, said cement production is a profitable business despite the challenges of high cost of inputs and exchange rate in the country, Daily Trust reports.
Legit.ng gathers that Osinbajo said that with the little margin, the manufactures stood to make profits because of the high demand for cement.
According to him, Nigeria has about 40 million tons annual capacity of cement production, which is the largest any country can produce in Africa.
The chairman of BUA Group, Abdulsamad Rabiu, said that the Sokoto cement plant would create at least 2,000 direct and 10,000 indirect jobs when fully operational, the chairman of the group, Abdulsamad Rabiu.
According to Rabiu, the 1.5 million metric tons capacity plant is equipped with ultra-modern facilities that enable it operate both on fuel and coal or mixed.
Meanwhile, Legit.ng previously reported that Vice President Yemi Osinbajo told Nigerian youths to brace up for political leadership of the country in the years ahead.
Osinbajo made the statement on Thursday, April 19, at the Presidential Villa in Abuja when he received a delegation of Not Too Young To Run movement.
Northern elders say Osinbajo cannot be president in 2019, is this right? - on Legit.ng TV