Cement price soar in South East
Prices of cement has increased by 67 per cent in the South East states of Abia, Anambra, Ebonyi, Enugu and Imo, the News Agency of Nigeria (NAN) reports.
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 retailer at Uwani, Samuel Uwakwe, said he was surprised at the rate prices of the product in the country.
According to him, a bag of Dangote Cement is sold at N3,900, Unicem for N3,700; Bua Cement for N3,700 and Kogi Super Cement is sold at N3,600.
Uwakwe lamented that few individuals were given opportunity to supply the product and pleaded with suppliers to reduce the prices and make it available for the citizens.
He maintained that the prices would likely crash during raining season.
A Block Industry Owner, Mr Albert Okechukwu noted that increase in the price of the product affected his business as he still sold six-inch and nine-inch block at N170 and N180 respectively.
“This is the same price we sold last year and it is same till date because we cannot change price in order to retain our customers but most block industries have reduced quality of their blocks,” he said.
A site Engineer, Mr Emma Ugwuoke said he wanted to start a building in the village when the price was N2,800 last year but was waiting to see if it would come down.
“When I went back next time, I was told it was N3, 000 and to my greatest surprise, they sell N3,900 and N4,000 now in my village.