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

Abujaexpress:
The monopolistic handiwork of Dangote and his brother, Abdulsamad of Bua cement

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

SEGLIZ:

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

nony43:








I am talking of Benin republic. In my last sentence

SEGLIZ:

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

nony43:






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

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..

truthfulparrot:


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