Reactions As Cement Price Soar In South East

A market survey conducted by NAN at various wholesale and retail shops in the zone shows that the price of the product has increased almost by double when compared to the price in 2020. A cement dealer at Kenyetta Market in Enugu State capital, Mr Ifeanyi Amadi said the increase in the product’s price started last year due to the COVID-19 pandemic and increase in dollar exchange.

He noted that a trailer load of Dangote cement with 600 bags initially sold at N1.5 million in 2020 but is now N2.3 million in the first quarter of 2021.

“The prices change on daily basis, so as we are talking now, I cannot guarantee the prices it will be sold tomorrow,” he said.

Another store at Uwani, Samuel Uwakwe, stated he was amazed on the price prices of the product in the us of a.

According to him, a bag of Dangote Cement is bought at N3,900, Unicem for N3,700; Bua Cement for N3,700 and Kogi Super Cement is bought at N3,600.

Uwakwe lamented that few people were given possibility to deliver the product and pleaded with providers to lessen the expenses and make it to be had for the citizens.

He maintained that the costs could likely crash for the duration of raining season.

A Block Industry Owner, Mr Albert Okechukwu mentioned that boom inside the rate of the product affected his enterprise as he nonetheless bought six-inch and 9-inch block at N170 and N180 respectively.

“This is the equal charge we offered last 12 months and it is same till date because we can't exchange rate with the intention to retain our clients however most block industries have reduced high-quality in their blocks,” he stated.

A site Engineer, Mr Emma Ugwuoke said he desired to start a constructing in the village whilst the price became N2,800 final yr however was waiting to peer if it might come down.

“When I went again subsequent time, I turned into informed it changed into N3, 000 and to my best marvel, they promote N3,900 and N4,000 now in my village.

“There is nothing you possibly can do than to buy it like that. I want government to do something urgently about it due to the fact it's far frustrating buying cement at that price,” Ugwuoke said.

In Abia, a move-section of citizens of Umuahia, the kingdom capital, additionally decried the high fee of cement, which tiers from N4,000 to N4,a hundred in step with 50kg bag.

Those who spoke to NAN stated the rate hike had similarly dashed the wish of many Nigerians, wishing to personal their non-public homes.

A businessman, Mr Victor Ugwu, said he needed to suspend his constructing project because of the “unfortunate development”.

Ugwu said: “I even have stopped my project for now. I cannot afford to continue with the contemporary charge of the commodity.

“The economy is very bad so I desire to wait till there's a drop within the rate.

“I assume the hike may be attributed to the monopoly being enjoyed with the aid of the cement producers within the country. Unfortunately, there won't be any respite till that monopoly is damaged.”

However, a cement provider, Mr James Ogbonna, stated the hassle had not anything to do with the manufacturers of the commodity.

Rather, Ogbonna blamed the charge hike at the activities of “shylock vendors” of cement.

He said that the hike had affected his commercial enterprise adversely, adding that cement patronage have been at the bottom ebb, for the reason that price hike.

He stated: “In the first and second week of March, we sold a bag for N3,two hundred, however inside the third week we commenced selling at N3,500.

“By the end of March, the fee moved as much as N4,000 and now, we promote among N4,000 and N4100, relying at the brand.”

Another dealer, Mr Godwin Okafor, stated that his sales had dropped appreciably because of the hike.

“We have a lot of demanding situations on this cement business now. When we make deposit and order for the products, it takes approximately one month before we get transport,” he said.

It is a similar scenario in Awka in Anambra as stakeholders decry the situation.

Mr Kenechukwu Okoye, a cement dealer alongside Zik Avenue, Awka said earlier than the #EndSARS protest in 2020, a 50kg bag of cement become sold at N2,500.

“Shortly after the #EndSARS, the fee rose to N3,000 and from there to the present price of N4,000 and N4,a hundred, we are promoting today,” he said.

Okoye stated although the distributors first of all blamed the hassle on problems encountered by way of the hauling corporation transporting the product, the state of affairs had come to live.

In Owerri, Imo capital, fee of cement is among N3,850 and N4300, depending at the logo.

At the Building Materials Market in Naze, Owerri North Local Government Area, Dangote and BUA cement are bought at N4,000 per bag while BUA and UNICEM are bought for N3,900.

Mr Okechukwu Okonya, a dealer, said the value can be attributed to excessive cost of transportation as a result of fuel fee.

Okonya additionally stated most important sellers from time to time hoard the product in their warehouses to create synthetic scarcity.

Another trader, Mr Marcel Iwu, agreed that despite the fact that there had been hoarding by main sellers, manufacturers had also complained of multiplied value of raw substances.

Iwu delivered that the prices ought to cross higher or lessen at any given time, noting that although prices fall, buyers might need to promote off their antique inventory at better rates.

NAN reports that during Abakaliki, Ebonyi, charges of just about all building substances have long gone up.

The costs of cement, rods of numerous sizes, corrugated roofing sheets and different constructing substances and add-ons in line with NAN findings had been at the increase seeing that January.

The price of Dangote and Bua which offered at N2,500 in advance in November and December 2020 now sold between N4000 and N4500.

Similarly, Unicem cement which additionally offered at N2,300 within the same period had additionally gone up to N4,000 and N4,300.

Mr John Okoh, a cement dealer at Kpiri-Kpiri marketplace in an interview with NAN attributed the development to loss of rate manipulate mechanism and high price of change price of the Naira in opposition to the greenback.

“The development is certainly affecting income and business because many builders have positioned a stop to their constructing and other construction tasks because they cannot address the existing high fee of the product.

Another resident, Mr Clement Igbo, who owns a block moulding enterprise, said that the excessive fee of cement turned into hampering production, announcing that he now not produced maximally due to loss of buyers.

“A bag of Dangote cement that's one of the excellent merchandise for our business is promoting for N4500 and it's far hard to shop for at this winning price and make enough production.

“We promote six inch and 9-inch block before this charge growth at N150 and N200 but now 6 inch-block is offered at N220 at the same time as the 9-inch sells for among N250 and N300 respectively.

“Many block industries within the metropolis have closed down manufacturing whilst a few have compromised fashionable which pose terrific risks to the constructing industry,” Igbo stated.

He expressed fears that the high price of cement which had brought about unsuitable ‘combination’ of concretes for constructing cause might affect first-rate and trendy of homes.

Mr Jerry Onwe, an economic activist urged the Federal and state governments to restore moribund cement factories across the states to meet the increasing needs of cement intake in Nigeria.

He stated that the search for mass housing for negative Nigerians could continue to be elusive if pressing steps were now not taken to deal with the excessive value of building substances in Nigeria.

“In a nation where a mean worker earns N30,000 monthly as take-home wage, how can such a person have enough money a residence of his personal in view of the winning fee of constructing materials?

“We have reached a pass avenue as a ways as the difficulty of building substances is concerned and that is a time for government to intervene and produce the scenario below manipulate.

“The Nkalagu Cement Factory in Ebonyi is capable of supply the cement needs of the entire South-East if properly revived,” Onwe said.