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Cement: FG Cautions Against Panic Buying - Properties - Nairaland

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Cement: FG Cautions Against Panic Buying by sunnybobonwa: 3:39am On Jan 27
The federal government has cautioned Nigerians against panic buying and stockpiling of cement as it allayed fears that the commodity would be scarce.

The Permanent Secretary in the Ministry of Industry, Trade and Investment, Nasir Sani-Gwarzo, in a statement, blamed the rise in the price of cement on the reduction in production volumes in the second and third quarters of 2020 due to the COVID-19 pandemic, EndSARs protests and downtimes in some manufacturing plants.

He said these affected cash flow of major distributors along with the high cost of transportation as he also confirmed the recent price increase of cement.

Africa housing news had exclusively reported recently that cement price skyrocketed from about N2,700 in October to up to N3,400 and N5,000 in some parts of the country.

By January 2021, the product still sold for N3,400 in Abuja, and up to N4,000 in some states, our survey at the weekend shows.

The ministry’s scribe however said the Ministry has been working to engage stakeholders in the cement manufacturing sector to address the lingering situation.

He said there has been a massive build-up of demand from public works contractors as they are in a hurry to meet milestones and deadlines on projects across the country.

“We urge the public not to embark on panic buying and storage of the product as the current market price is temporary,” said Sani-Gwarz

https://dailytrust.com/cement-fg-cautions-against-panic-buying

1 Like 2 Shares

Re: Cement: FG Cautions Against Panic Buying by Abujaexpress: 3:45am On Jan 27
The monopolistic handiwork of Dangote and his brother, Abdulsamad of Bua cement

85 Likes 5 Shares

Re: Cement: FG Cautions Against Panic Buying by Hadeylex: 3:56am On Jan 27
That's what happens when an individual (Dangote) controls the prices of virtually all commodities in the country, from cement to rice, flour, sugar, etc. Expectedly, our top politicians are silent because most of them are shareholders in the Dangote Group!

85 Likes 2 Shares

Re: Cement: FG Cautions Against Panic Buying by Rugaria: 5:58am On Jan 27
This is a sick excuse,.. that cement prices went up because of covid! Very convenient excuse to make.. The truth is that a "Cement Mafia" headed by Dangote and his brother Rabiu are desperate to make stupendous gains from cement sales at the detriment of the welfare of Nigerians and we have a very sectionally minded government that is not ready or willing to lift a finger and do the needful in order to save poor Nigerians! The cement majors have the country on a chokehold! 5000 naira for a bag of cement!? When they're selling cheaper in other countries where they have production facilities! We are dealing with a group of invaders who are not interested in the betterment of the country. That's obvious because no patriotic entrepreneur or good government will sit by and allow the price of such an essential commodity to skyrocket in this fashion! How can you build a modern country without cement? Folks should have known better! But the government doesn't care because we're being led by a set of people who prefer cave existence and mud houses to any sort of city life..

58 Likes 6 Shares

Re: Cement: FG Cautions Against Panic Buying by Sicilyjoe: 6:08am On Jan 27
I would have say that if u don't have money to buy cement u forget it is not by force, after all most of the people supported transporters when they charged x3 of thier initial price during festive season

5 Likes

Re: Cement: FG Cautions Against Panic Buying by truthfulparrot(m): 6:26am On Jan 27
Dangote is bitting more than he can chew. Some of us know that if the Federal government allow and encourage other foreign and local investors to invest in cement production in Nigeria, the price will crash to less than N1000.

Even with the current high exchange rate, the price of imported cement will still be less than N2000. If the Federal Government is really serious, it should either call Dangote to order or break his monopoly on cements by lifting the ban on importation of cements.
The argument that Dangote is generating employment for Nigerians is no longer tenable economically as millions are loosing their jobs because of the high cost of cements.

Have you ever wondered, why our billionaire entrepreneurs will donate billions of Naira to support an incompetent candidate for presidency? The fact is that most billionaires in Nigeria thrives under bad government.

One day, Nigerians will be pushed to the wall.

Meanwhile, wise Nigerians are embracing a building technology that requires less blocks and cements.

63 Likes 2 Shares

Re: Cement: FG Cautions Against Panic Buying by PropertyVendor(m): 6:34am On Jan 27
Dangote officially increased the price of Cement last Sunday, now it's sold for 3,200 in Benin City.

11 Likes 2 Shares

Re: Cement: FG Cautions Against Panic Buying by nony43(m): 7:07am On Jan 27
We have lime stone yet cement is still expensive, in my Area it is sold at 4300 per bag. In Benin republic ��, a bag of cement is sold at 800 naira per bag. if convert the CFA to naira

21 Likes

Re: Cement: FG Cautions Against Panic Buying by SEGLIZ: 7:24am On Jan 27
Abujaexpress:
The monopolistic handiwork of Dangote and his brother, Abdulsamad of Bua cement

why blame this on Dangote? there are other cement manufacturers in Nigeria, BOA cement is in existence, former West Africa Portland Cement (Elephant) now LaFarge are there.
the problem with us is that manufacturers and service providers forms union to protect themselves against consumers and government but the consumers isn't protected in all this.
until we the consumers have a right protection group or groups then we would have a ease of life from all this monsters. even our politicians has form a union e.g. the governors forum, what do you make out of that?

17 Likes 2 Shares

Re: Cement: FG Cautions Against Panic Buying by SEGLIZ: 7:27am On Jan 27
nony43:
We have lime stone yet cement is still expensive, in my Area it is sold at 4300 per bag. In Benin republic ��, a bag of cement is sold at 800 naira per bag. if convert the CFA to naira

I don't get that calculation of yours beside are talking of Benin Republic or Benin city?

2 Likes

Re: Cement: FG Cautions Against Panic Buying by nony43(m): 7:29am On Jan 27
SEGLIZ:

I don't get that calculation of yours beside are talking of Benin Republic or Benin city?







I am talking of Benin republic. In my last sentence

16 Likes

Re: Cement: FG Cautions Against Panic Buying by SEGLIZ: 7:33am On Jan 27
nony43:








I am talking of Benin republic. In my last sentence

I don't get that your calculation, 800 Naira.
Re: Cement: FG Cautions Against Panic Buying by oluseyiforjesus(m): 7:36am On Jan 27
On a serious note leaving Nigeria is a good idea if u have d opportunity
Price of goods n services increase daily
No security to travel now u have to pray n fast
No good road
No employment
Who ever did dis to Nigeria will not make heaven

5 Likes

Re: Cement: FG Cautions Against Panic Buying by nony43(m): 7:37am On Jan 27
SEGLIZ:

I don't get that your calculation, 800 Naira.





What is there not to understand? That a bag of cement is sold at 800 NGN per bag in Benin republic?

31 Likes

Re: Cement: FG Cautions Against Panic Buying by Mickeybook(f): 7:38am On Jan 27
DANGOTE KNOW THESE FOOLS MUMU BUTTON

3 Likes

Re: Cement: FG Cautions Against Panic Buying by lastmessenger: 8:29am On Jan 27
When will Ibeto start rolling out cement. There is need to break this monopoly.

1 Like

Re: Cement: FG Cautions Against Panic Buying by Sicilyjoe: 8:37am On Jan 27
nony43:






What is there not to understand? That a bag of cement is sold at 800 NGN per bag in Benin republic?

Can someone buy from cotonou and bring it to naija ?

4 Likes

Re: Cement: FG Cautions Against Panic Buying by Baawaa(m): 9:01am On Jan 27
This government is nothing but failure
Re: Cement: FG Cautions Against Panic Buying by Orire001: 9:01am On Jan 27
Panic buying











I still sell affordable laptops with free delivery and pay on delivery.

Details on my signature.

Re: Cement: FG Cautions Against Panic Buying by IamDavid(m): 9:01am On Jan 27
Na Monopoly dey cause all these things. Communication would have been more expensive if not for the competition. FG should allow other players

4 Likes

Re: Cement: FG Cautions Against Panic Buying by airminem(f): 9:01am On Jan 27
Government the best was to reduce panic buying is to encourage the producers, dealers, marketers with funds sad
Re: Cement: FG Cautions Against Panic Buying by Olukat(m): 9:01am On Jan 27
Panic buying, really?
Maybe same panic buying is what's affecting the Naira/Dollar exchange rate angry angry angry

1 Like

Re: Cement: FG Cautions Against Panic Buying by buyhairs: 9:02am On Jan 27
Why will the price not go up when heavy tax is imposed on other manufacturers while Dangote enjoys tax relief. He now determines the market price and who stays in the market. This country na wah. Abeg I never build oo.

2 Likes

Re: Cement: FG Cautions Against Panic Buying by Nobody: 9:02am On Jan 27
as the government and Dangote has monopolize everything .. abeg make we hear word...
Re: Cement: FG Cautions Against Panic Buying by MOVIC6: 9:03am On Jan 27
What’s the essence of long epistle, when you know the outcome of all this, the rich get richer to the detriment of the poor...
Rugaria:
This is a sick excuse,.. that cement prices went up because of covid! Very convenient excuse to make.. The truth is that a "cement Mafia" headed by Dangote and his brother Rabiu are desperate to make stupendous gains from cement sales at the detriment of the welfare of Nigerians and we have a very sectionally minded government that is not ready or willing to lift a finger and do the needful in order to save poor Nigerians! The cement majors have the country on a chokehold! 5000 naira for a bag of cement!? When they're selling cheaper in other countries where they have production facilities! We are dealing with a group of invaders who are not interested in the betterment of the country. That's obvious because no patriotic entrepreneur or good government will sit by and allow the price of such an essential commodity to skyrocket in this fashion! How can you build a modern country without cement? Folks should have known better! But the government doesn't care because we're being led by a set of people who prefer cave existence and mud houses to any sort of city life..

2 Likes

Re: Cement: FG Cautions Against Panic Buying by Anointedclass: 9:04am On Jan 27
truthfulparrot:


Meanwhile, wise Nigerians are embracing a building technology that requires less blocks and cements.

Please tell me more about the new building technology

1 Like

Re: Cement: FG Cautions Against Panic Buying by Faith557: 9:05am On Jan 27
undecided
Re: Cement: FG Cautions Against Panic Buying by ismaog4u(m): 9:05am On Jan 27
Where are consumer protection agency ??.. In real sense the price of cement in Nigeria market is arbitrary. Are we saying no one can checkmate this price ?.. This is very terrible

1 Like

Re: Cement: FG Cautions Against Panic Buying by Weselion(m): 9:06am On Jan 27
Okay
Re: Cement: FG Cautions Against Panic Buying by wkid(m): 9:06am On Jan 27
Dangote. Alhaji Putin.
Re: Cement: FG Cautions Against Panic Buying by Ask4bigneyo(m): 9:06am On Jan 27
Government of push and start
Re: Cement: FG Cautions Against Panic Buying by Badgers14: 9:07am On Jan 27
Someone some where is getting paid to say and do nothing about this ugly issue.

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