Senate Seeks Policies to Encourage Local Investors in Cement Production


79046ce1 senate plenary

By Deji Elumoye and Udora Orizu

The Senate has called on the federal government to provide more industrial incentives and protections such as concessionary loans and larger tax incentives for new entrants into the local cement production with a view to boosting production, reduction of price and encouragement of more valuable producers in the country.

The Senate passed a resolution at yesterday’s plenary, following the adoption of a motion, entitled, ‘Need for Liberalisation of Cement policy in Nigeria,’ sponsored by Senator Ashiru Yisa (Kwara South) and five others.

The co-sponsors are Senators Muhammad Bima (Niger South); Adelere Oriolowo (Osun West); Samuel Egwu (Ebonyi North); Kabiru Gaya (Kano South); and Michael Nnachi (Ebonyi South).

Moving the motion, Yisa said cement was of strategic importance to the country’s infrastructure such as roads, bridges, drainages as well as in the construction of residential and public…

Source: Thisday Newspaper

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