The price of cement yesterday rose to N2,300 in Lagos and other parts of the country.
Before the hike, a bag of cement costs about N1, 600 marking over 35 per cent rise in the cost of the raw material used in the building and construction industry.
Reacting to the development, 2nd Vice President Vice President, Nigeria Institute of Building (NIOB), Mr. Kunle Awobodu said the increase may have been as a result of cost of production and the devaluation of the naira.
He lamented that with the hike, the cost of construction will increase while the need for cost variation in all ongoing contracts and abandonment of projects may become inevitable, adding that it may also discourage people from embarking on new projects.
He said: “Clients, contractors and quantity surveyors may have disagreements due to price variations. New price on old contracts in a competitive bidding may eventually lead to sub-standardisation in construction.”
A cement distributor in Arepo, Ogun State said the new price came as a surprise, adding that it many have been occasioned by the current economic down-turn. Another distributor at Ajah area of Lagos, Mr. Kunle Salami said he has stopped his requests for more supplies as he is not sure of his customers reactions.
He decried the increase and urged the government to intervene either in terms of policy for the manufacturing sector or the provision of constant electricity in order for them to thrive. Click to signup for FREE news updates, latest information and hottest gists everyday
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This is very unconnected as we now produce cement in commercial quantities here in Nigeria: Dangote Cement, Ibeto Cement, Burham Cement, etc. How is the dollar now affecting these ones too?
ReplyDelete...And this clueless APC government and their voodoo economists are tying to convince the millions of starving Nigerians that once Dangote rice come from his farm The hunger currently ravaging Nigeria is over. Maybe Dangote na charity worker- Red Cross and Red Crescent kwo! Incompetent selfish and clueless people.
ReplyDeleteWhy can't the Nigerians enter the street of Nigeria to protest these evil government. If landlords begins to increase rent now to join foodstuffs, it means the end has come. APc. Thank u.
ReplyDeletewhere are we doing???
ReplyDeleteSo those of us that had it in mind to build house someday, where do we start from? this Buhari government na case!!!, it did'nt favour majority
ReplyDeleteHmmmmmmmm. God help us in this country o with this govt.
ReplyDeleteAll we hear is change! Change!! Change!!!. And that we will soon get to the promised land. I guess what they mean is chain, chain chain, to the promised hell.
The more we try getting to the so-called promised land, the longer the distance and the rougher and tougher the road to it becomes.
All we seem to be heading to is hell/cell with d chain slogan.God forbid. The govt can not boast of any positive change since they came into power. Rather cheaper prises r now higher. God help us.