Real Estate Developer, Alhaji Ahmed Abubakar has revealed that the Federal Government of Nigeria earlier pledged to carryout foreign exchange transactions with manufacturers of building materials at a very flexible business rate.
Ahmed Abubakar who doubles as Chairman, Hortigraph Nigeria, explained on Tuesday in Abuja to Nigerian Pilot that Government is ready to exchange a dollar at the negotiable rate of N197, specifically to manufacturers of locally made merchandise.
Explaining further, the Chairman disclosed that, “We are talking about Forex, which is about N420 per dollar or more, but the Government said if you are a manufacturer of local contents, come to me and I will sell dollar at Government official rate at N197.
“If you are importing diesel to power a factory you can go to Central Bank of Nigeria, CBN, and state whatever you want to buy and they will give you approval with that exclusive transaction dividend.” Abubakar said.
He however lamented over the present cost of cement, adding that its manufacturers should also be considered in the chain of beneficiaries, so as to enable them reduce the cost of cement to N1, 600, instead of selling at N2, 300.
“Cement is expensive, sold at N2, 300 instead of it to come down to N1600 or N900 per bag, the price is still going up. When are we expecting the cement to come down or go back to the normal price? Because everything that goes up in this country is difficult for it to come down.
“My call on government most especially the Minister of the Federal Capital Territory, FCT, Muhammadu Bello, one is for him to look at the procedures required to secure C of O, and if you have been given land for 10 years and nothing has been done, what necessary steps to be taken aftermath, especially plots allocated to politicians.” he suggested.
Abubakar also appealed to Government to slash the price developers need to acquire land, he said that “You will see a land of three or four hectares, they will tell you N500 million, from where will you get the money as a developer and the people that are real developers are not given access to land, so how can we build affordable housing?

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