In recent years, Nigeria has experienced a significant increase in the price of cement, a crucial building material for infrastructure development and construction projects. This surge in cement
prices has sparked concerns among stakeholders across various sectors, prompting a closer examination of the factors driving the hike and exploring potential solutions to mitigate its adverse
effects.
To grasp the gravity of the situation, let’s examine some statistics regarding cement prices in Nigeria. In previous years, the average price of a 50kg bag of cement ranged from ₦3,500 to ₦4,500. However, recent reports indicate that prices have surged to as high as ₦9,000 to ₦12,000 per bag, representing a substantial increase. This escalation has raised alarms within the construction industry and among consumers alike.
The surge in cement prices has reverberated across various sectors, leading to several adverse effects, such as directly contributing to elevated construction costs, impacting both public infrastructure projects and private development initiatives, posing affordability challenges for
individuals and businesses involved in construction activities, which can deter investments in housing, commercial buildings, and other essential infrastructure, exacerbating Nigeria’s already pressing housing deficit.
To address the challenges posed by the hike in cement prices, it is imperative to consider diverse perspectives from various stakeholders within the construction sector. Here are perspectives from three individuals actively engaged in the industry: Efe Ufuoma: The housing deficit in Nigeria stands at a staggering 28 million units as of 2023, with an estimated investment of 21 trillion Naira required to address this shortfall. Given the current state of the economy, the conventional construction methods in Nigeria are becoming increasingl unsustainable, at such we need to start looking inwards at readily available, more sustainable and more affordable building materials to bridge this housing deficit. Nigeria’s construction industry has become overly reliant on cement, which is used extensively in various building processes such as casting, block molding, and tiling. In contrast, many other parts of the world utilize a diverse range of materials like wood finishes, wooden floors, and rammed earth houses, reducing their dependency on cement. We need to have reduced demand for cement to reduce the price increase and this can be achieved by diversifying the materials used in construction and promoting alternative building methods that are both sustainable and cost-effective.
Chinedu Osonwa: To address the price hike, we can focus on enhancing local production, reducing importation, and investing in modern technology and infrastructure within the cement industry.
Promoting competition among cement producers fosters fair pricing and quality standards.
Additionally, supporting alternative building materials, engaging stakeholders through consultative forums, and ensuring price stability in a conducive environment are key strategies.
John Adeokhor: There’s need to create an alternative for cement to curb the continuous increase in cement prices. While cement serves as a binder in construction, diversifying materials used in building can help mitigate the impact of price fluctuations in the cement market.
Temitayo Oguntade
Chief Financial Officer
Temitayo Oguntade is a seasoned finance professional with proven experience across diverse sectors. Her broad skill set and experience span areas such as Corporate Reporting, Auditing, Tax & Regulatory Compliance, Due Diligence, Consulting, Treasury & Financial Management, Corporate Finance, Stakeholder Management, Business Strategy, Internal Control & Process Optimization, Finance Business Partnering, Risk Management, Financial Planning & Analysis and General Administration.
Temitayo holds an MBA from Edinburgh Business School, Heriot-Watt University, United Kingdom as well as a Bachelor’s degree in Accounting from Olabisi Onabanjo University. She is a member of the Association of Chartered Certified Accountants (ACCA).
She began her professional career with AO&A Audit in 2011 after which she joined PricewaterhouseCoopers (PwC), Nigeria. She led and managed various engagements in diverse sectors while working in both firms.
Prior to joining CKL, Temitayo worked as the Country Head of Finance for Kyosk Digital Solutions Nigeria Limited and as the Chief Financial Officer for Accrete Petroleum Limited. She collaborates and supports Senior Business Executives and Cross-Functional Teams to achieve corporate objectives.
She is a volunteer at The FATE School of FATE Foundation.
Sam Etomi
Director
Samuel is a Quantity Surveying and Subcontracting Professional with several years of Commercial Management industry experience in all forms of building. Establishing Samuel Etomi & Associates in 1993 and later rebranded as SEA Surveyors Ltd in 2007, Samuel assumed the role of Managing Director, orchestrating a multitude of large-scale projects across Nigeria. Notably, his portfolio includes engagements with prestigious entities such as the Central Bank of Nigeria, Lagos State Government, Petroleum Trust Fund, and various multinational corporations.
His illustrious career, spanning decades, encompasses both contracting and private practice, with significant contributions in the UK and Nigeria. Samuel embarked on his educational journey at Edo College, Benin, Nigeria, before pursuing a Bachelor’s degree in Quantity Surveying from Bristol Polytechnic in the United Kingdom. His professional stature is underscored by his esteemed affiliations, including a Fellow of the Nigerian Institute of Quantity Surveyors (NIQS), a Registered Member of the Quantity Surveyors Registration Board of Nigeria, and a Membership in the Royal Institute of Chartered Surveyors (RICS). Additionally, his association with the Institute of Directors (IOD), Construction Arbitration Institute, Fellows’ Forum NIQS, and the Association of Consulting Quantity Surveyors (AQS) reflects his commitment to excellence and continuous professional development.
Aidevo D. Okaisabor
Director
Aidevo D. Okaisabor is an Industrial Engineer with a remarkable track record of enhancing quality and production efficiency in advanced engineering environments.
Aidevo’s expertise also extends to project management. Graduating from Texas Tech University with a BSc in Industrial Engineering and a minor in Mathematics, Aidevo’s educational foundation equips her with a strong analytical prowess.
Her professional journey has included various roles both in Nigeria and abroad. She has spearheaded initiatives to enhance preventive maintenance procedures and address equipment inefficiencies. She brings a breadth of technical skills, including proficiency in software such as Autodesk Inventor, SAP, and Microsoft Project, complemented by certifications in Google Analytics and Lean Green Belt.
Beyond her professional pursuits, Aidevo is actively engaged in community service through organizations like the National Society of Black Engineers, where she mentors youth and contributes to charitable initiatives
Ademola Ogundipe
Director
Ademola started his professional career in Civil Engineering Design, Construction and Project Management followed by 24 years in a variety of roles in Banking and Investment Management. He was most recently the Global Director of Credit Risk at Aviva Investors, before which Ademola was a Managing Director at Bank of America Merrill Lynch and before that a Director at Barclays Capital.
He holds a Bachelors degree in Civil Engineering from The University of Benin, an MSc and DIC from Imperial College London and an MBA from The University of Bradford School of Management.
Detlev Lubasch
Director
Detlev worked for Julius Berger for 30 years of which 25 years were in Nigeria. He retired as Managing Director of Julius Berger Nigeria Plc. in 2016. Some notable positions and roles Detlev occupied in Julius Berger Plc include: Project Manager for Infrastructural contracts in Abuja; Project Manager for the Building Department (ABD) in Abuja; Divisional Manager for ABU-FSP.
He was a member of the Board of Julius Berger International GmbH and was an Office Engineer for Technical Departments at the Bilfinger Berger Nigeria GmbH in Wiesbaden. He has a Diploma – Ign. (Civil Engineer) in 1983 from Technical University, Darmstadt.
Ayuli Jemide
Chairperson
Ayuli is a highly regarded Corporate and Commercial lawyer who brings an unmatched eye to key aspects of service delivery. He has led notable transactions including: Lagos State Blue Line Railway; UPDC Plc N30 billion REITS; 2nd Niger Bridge Design Build Operate & Transfer; Warri Industrial Bank Project; Consultant on World Bank’s Nigeria PPP Project.
Ayuli obtained a degree in Law from the University of Benin in 1987 and was admitted to the Nigerian Bar in 1988. He obtained a Masters Degree in Law from the Northwestern University, Chicago, USA and has a Post Graduate Certificate in Business Administration from the Institute de Empresa, Madrid, Spain. He is also a Certified Public Private Partnership Specialist from the Institute of Public Private Partnerships Washington DC, USA.
Johnson Olubusayo Joseph
Project Manager
Joseph is an experienced Civil Engineer with over 15 years of work experience. He has executed key Construction Kaiser projects including the construction of the 450MW gas turbine Project, Lot 3 Sapele Power plant Project, Delta state, and Ikoyi Plaza Multi-Level Carpark on Awolowo Road, Ikoyi Lagos.
He holds HND in Civil Engineering from Federal Polytechnic, Ilaro Ogun state, and a B.Eng. from Federal University Oye-Ekiti, Ekiti state. A member of the Nigerian Society of Engineers
Tosin Soremekun
Head – Land Surveying
Tosin is a tested Land Surveying professional with 15 years of professional experience.
His professional journey has taken him across different construction firms most recent of which was Abrico Plc, where he held the position of Assistant Principal Surveyor.
Tosin obtained a Bachelor’s of Science in Surveying and Geoinformatics from the
University of Lagos. He is a registered member of the Surveyors Council of Nigeria and an Associate Member of the Nigeria Institution of Surveyors. Completed projects in his portfolio include the JK Randle Centre for Yoruba Culture and History, Onikan, Lagos
and the Ikeja Aviation Centre
Faith Ezeugoh
Commercial Team Lead
Faith is a qualified Quantity Surveyor and Quality Management Systems professional.
She is a QMS ISO 9001:2015 Lead Auditor and was responsible for leading
Construction Kaiser Limited to attain an ISO 9001:2015 Certification.
Faith has a Higher National Diploma in Quantity Surveying from the Yaba College of
Technology, a Bachelor of Science in Building from the University of Lagos and a Master’s in Construction Management also from the University of Lagos. Before joining CKL, Faith was the Head – Cost Management and Control at Alpha Mead
Facilities and Management Services
Kizito Meze
Senior project Manager
Kizito is a certified Civil Engineer whose professional experience has seen him pass through different construction companies including Bouygues Construction Nigeria Limited. During his time there, he functioned as a Deputy Site Manager on numerous
projects including the 16-storey FIRS Headquarters in Abuja, The Ivory Coast Embassy
Abuja and The NLNG Head Office Development in Port Harcourt.
He holds a Bachelor of Engineering in Civil Engineering and is a registered member of the Council for the Regulation of Engineering in Nigeria (COREN).
Tossan Ossai
Head, System Compliance
A resourceful, motivated and dynamic management system professional with comprehensive
Quality Management System(QMS), HSSE, ISMS,BCMS,EMS, FSMS, Auditing experience, proven management and leadership ability, and a strong background in process development and improvement.
Skilled in identification of compliance gaps and quality related issues, utilizing resources and personnel as well as fearless approach to problem solving to quickly resolve issues and achieve improved output.
John Adeokhor
Head of Procurement & Logistics
John is an experienced Quantity Surveyor with over two decades of relevant work experience. He spent 16 years with Costain West Africa Plc where he ascended to the position of Assistant Commercial Manager. Before joining Construction Kaiser Limited, John held the position of Cost Supervision and Procurement Manager at HFP Engineering Nigeria Limited.
John holds a Higher National Diploma in Quantity Surveying from Yaba College of Technology. He also has a Master’s degree in Business Administration from Ambrose Alli University, Ekpoma, Edo State. He is a registered member of the Nigerian Institution of Quantity Surveyors. Throughout his career, John has executed several construction projects including the Watari Water Treatment Plant Kano, Civil Works for Dangote Cement Power Plant Ibeshe, Ogun State and the Development of Luxury Residential Apartments in Ikoyi, Lagos State.
Abiodun Mamora
Executive Director – Finance
Abiodun is the Executive Director of Construction Kaiser Limited, a highly reputable indigenous construction company servicing valuable companies across Nigeria. She was previously the Chief Financial Officer of Filmo Realty. Abiodun has a strong reputation for forecasting an organisation’s financial and business health before it becomes apparent to others.
Abiodun is known for eliminating financial leakages, championing a value-based culture, and putting business processes on a healthy path to growth. She is an alumnus of the Daystar Leadership Academy, a Fellow of ACCA (Association of Chartered Certified Accountants), and holds a first-class Bachelor’s degree in Applied Accounting from Oxford Brookes University, United Kingdom. Abiodun also has a bachelor’s degree in Economics and is currently undertaking an Executive MBA degree at INSEAD. She also attended the Advanced Management Programme at the Lagos Business School, Lekki.
Chinedu Osonwa
Chief Operations Offficer
Chinedu is an experienced Civil Engineer with his professional experience
exceeding 15 years. He has executed key CKL projects including the constrution
of a Switchyard in Odukpani, Calabar, the 540MW NIPP gas-fired power plant in
Calabar, and NIPP Employers Accommodation (50+ Units) Calabar to mention a
few.
Chinedu is a QMS ISO 9001:2015 Lead Auditor, a registered member of the
Nigerian Society of Engineers (NSE) and Council for the Regulation of Engineering in Nigeria (COREN). He holds a Bachelor of Engineering Civil Engineering
from the Enugu State University of Technology
Executive Director
Jamila holds a Bachelor of Science Degree in Building, from the Ahmadu Bello University, Samaru, Zaria. She is a member of the Nigerian Institute of Building (NIOB).
She has attended many local and international training programs, including the Advanced Management Programme at the Lagos Business School, Lekki, Building Businesses in Turbulent Times (BBTT) at the Harvard Business School, Boston, MA in the United States of America, and Project Management training in CPMS, Lagos. She is a member of the Project Management Institute (PMI).
She joined the company in 2005 and has served in various capacities as a Planning Engineer, Project Manager, Operations Manager and currently an Executive Director.