Business
Building Materials Prices Stabilise In Delta
Prices of some essential building materials have remained stable in some major towns in Delta State in spite of rising cost of fuel and transportation.
An investigation by our correspondent revealed that prices of granite, iron rod, sharp sand and cement blocks have not changed in the state in the last one month.
According to the survey, a tipper load of granite stone which was sold at N49,000 in Asaba in January still sells at the same amount while the cost of a tipper load of sharp sand has remained at N14,000.
The survey also showed that cost of a single bar of iron rod has remained at N2,000 since January.
Nine-inch and six-inch blocks, which have been selling at N120 and N105, respectively, since the beginning of the year in Asaba, Sapele, Warri, Ughelli and Agbor, have maintained the prices.
Some dealers on the building materials who spoke to our correspondent, attributed the stability in prices of the commodities to the economic situation of the country.
Mr John Adebayo, a cement block producer in Asaba, said that though this period of the year was usually busy for building materials dealers and contractors, “the demand is low because of economic crunch”.
According to him, builders are no longer having jobs because most people have been hit by “low finances”.
Meanwhile, a market survey by Delta Ministry of Economic Planning revealed that there was eight per cent reduction in the price of cement in the state.
According to the survey, which result was made available to newsmen, a bag of Elephant and Dangote brands of cement which were sold at N2,300 in Asaba, Agbor, Sapele and Warri in January, has dropped to N2,100.
Confirming the prices, some cement dealers attributed the slight reduction to drop in the importation of the commodity due to the recent inauguration of a cement factory in Ogun State by the Dangote Group.
One of the dealers, Mrs Oluchi Eze, said that the effect of the new cement factory had already being felt with the price drop as the commodity supply has become steady from major dealers.