Following the sudden hike in the prices of bags of cement, Peoples Democratic Party (PDP) chieftain, Chief Sunny Onuesoke, has urged all builders to halt all ongoing projects henceforth. The former governorship aspirant of PDP in Delta State expressed anger over the astronomical hike in cement price across the country, appealing to builders across the country to suspend whatever projects they are undertaking for now until the price of cement returns to status quo.....KINDLY READ THE FULL STORY HERE▶
National newspapers, including Tribune Online, have reported that the price of a bag of cement has jumped from N5,000 to N8,000, N10,000, and N15,000, varying from state to state.
Onuesoke lamented the rising prices of building materials across the nation, stressing that it is disheartening to see how much Nigerians have to pay for essential building commodities like cement, with the prices rising almost daily.
The PDP Chieftain maintained that the high cost of cement would render most Nigerian families homeless if not checked, adding that it is totally condemnable to sell a bag of cement at the rate of N15,000 per bag in a country where so many families go to bed hungry.
He alleged that the astronomical increase in the price of cement in Nigeria is not genuine, stressing that sellers of the product which is cheaper in other West African countries only want to take advantage of the vulnerable economy to make huge profits.
According to him, nothing is moving in the country because the high cost of cement has greatly reduced the rate of development, adding that those intending to build companies, industries, and new buildings cannot do so because of the exorbitant rate of the commodity.
“You cannot tell me that between last week and this week, the cost of producing cement increased to warrant this high price.
“It is disheartening to see how much Nigerians have to pay for essential building commodities like cement, with the prices rising almost daily. I don’t understand the reason for this increase, and it is not acceptable.
“The limestone, clay, silica sand, gypsum, iron ore, and the rest for the production of cement are bound in Nigeria and these manufacturers get them here at zero cost, so there is no justification to try and blame it all on the rise of dollar,” he argued.
Analysing the effect of the rise in the cost of cement on the masses, Onuesoke said, “No prospective trader that can afford the house that is build with N15,000 bag of cement. There is no magic. No young graduate, no civil servant that can afford a single bedroom flat that is build with a bag of cement of N15,000. There is problem in the land.”
He pointed out that the high cost of cement has greatly reduced the rate of development hence those intending to build companies, industries, and new buildings cannot do so because of the exorbitant rate of commodity.
Consequently, the PDP Chieftain demanded that the Federal Government should reduce the price of a bag of cement to N1,000, and issue licence to Nigerians who are ready to do the cement business while also creating an enabling environment for them to thrive.