BCPG Expresses Concern Over Quality of Reinforcement Steel Bars
By Kingsley Adegboye
Building Collapse Prevention Guild (BCPG) has expressed worry over the stability of the price of concrete reinforcement steel bars known as iron rods despite the persistent depreciation of the naira, hinting that the development arouses safety concern.
According to the president of the Guild, Kunle Awobodu, a fellow of the Nigerian Institute of Building (NIOB) in a statement, "There are two popular grades of locally manufactured high tensile reinforcement steel bars in the Nigerian building materials' market. The price of the high grade H.T. steel rebar has remained N140,000 per tonne for the past four years while that of the low grade H.T. steel rebar has been hovering around N100,000 per tonne for the same period. However, exchange rate of Naira to one US Dollar was around N156 in 2012 while it is fluctuating around N300 to one US Dollar today.