Amidst fuel, electricity price rise cement price skyrockets

By Ezurike Ugochikwu

The hope of most Nigerians who have been struggling to build houses of their own regardless of the high cost of various building materials may have been brought to a abrupt halt as the price of cement has soared higher.

Builders and other users of the product on Monday were treated to a shocker when they were alerted to an increase in the price of cement in the open market.

Prior to last week, a bag of cement was sold for N2,500, currently, a bag sells between N2,800 and N3,200.

The new price has brought an increase of between 12% or 28% to this major building material.

Reactions have trailed the increase especially in the social media, Mr Alli, a facebook on his page stated, “I’m beginning to be ok. A bag of cement in Iwo as at this morning is #3,200,” Mr

Nigerians are grappling with the recently announced hike in the price of fuel and electricity in the country, an action which they have described as ill-timed

While the change in cement price is yet to be made official, feelers from manufacturers hinted that price of cement may go as high as N2,900 or N2,950.