Cement prices escalate, hit N4,600 in materials’ markets | The Guardian Nigeria News - Nigeria and World News

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The nations’ housing sector is not out of the woods yet, as prices of cement continues to rise in the building materials market.

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The nations’ housing sector is not out of the woods yet, as prices of cement continue to rise in the building materials market.

Within the past six months, the price of cement rose from N3, 200 to N4, 600. The Guardian’s market survey in locations like Abuja, Ogun, Osun, Imo, Rivers, Anambra, Lagos, Oyo, Enugu states among others last week revealed that the price for a 50kg bag hovers around N3, 800 and N4, 600 respectively. Another dealer, Mr. Ebenezer Nwosu, said although there was no particular reason attributed to the escalating prices from the producers, he stressed that it is not unconnected with the inflation trend in the country, which has impacted the prices of goods and services across board.

Speaking on the development, the Chairman, Faculty of Estate Agency and Marketing, a business division of the Nigerian lnstitution of Estate Surveyors and Valuers , Mr. Kayode Ogunji, observed that a major problem facing the manufacturing sector is that when a particular product is on higher demand, people play with the price.

Regrettably, he said, Nigeria is not ripe for the kind of building construction in Western world, where they don’t use more cement but prefabrication of buildings and wooden housing. A past chairman, Nigerian Institute of Building Lagos Chapter, Mr. Adelaja Adekanmbi, called for improved capacity and production to reduce price increases.

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Today price of cement one bag 50k is 5200 is very difficult to find it ,why the price of cement always raises,we have limestone ,companies and shareholders all is citizens of Nigeria after this wheat flour ,sugar,spaghetti, macoroni and every thing produced at dangote and Bua com

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