Cement Price Soars Amid Import Licence Issuance

Inspite of the Federal Government granting of licenses to Nigerians to import cement into the country, to complement the efforts of local cement manufacturing companies in Nigeria, it has been observed that the prices of the product are not coming down.

The scarcity and the current increase in the price of cement across the country shows that the government needs to do more to overcome this challenge.

Market survey carried out by The Tide in Port Harcourt last Monday revealed that a 50 kilogram bag of cement now sells for between N1, 700 and N1,800 depending on the area as against N1,500 and N1,600 before last December. Also a six-inch and nine-inch blocks which sold at N120 and N130 respectively before December now sells for between N130 and N150, respectively.

Speaking to The Tide on this development, Engr Derrick Haruna who moulds inter locking blocks, told our reporter that because many site owners are now rushing to conclude construction jobs on their sites before the end of the dry season, middle men are therefore taking advantage of the situation to increase the price of cement, believing that site owners have no option than to buy at any price provided the product is available.

A cement dealer Chike Akuoma who spoke to The Tide, blamed the situation on non-effective distribution chains of the local cement manufacturers in the country, adding that the delay in supply after paying for the product for a long time is one of the causes of the problem.