Cement Dealers Lament Supply Shortages

The price of cement, one of the prime building materials has slightly increased in the new year, as the product is currently sold between N1,700 and N1,800, as against the former prices of N1,600 and N1,650 per bag sold last December.

The Tide’s investigation shows that the slight increase in the price of the product is as a result of short supply of the product, where dealers now take advantage of the increasing demand of the product in this dry season to increase price.

Some cement traders whom The Tide cornered explained that there had been reduction in the supply of cement in the new year due to the Christmas and new year holidays where companies were shut temporarily to enable their staff enjoy the yuletide celebrations.

Livingstone Eze, one of the cement dealers along the East-West road told The Tide that demand for the product has increased slightly more than what it was before Christmas, and that the supply has been low this new year due to the yuletide.

He said the old stock they had would not be sold at the old rate since demand is on the increase, pointing out that many dealers are now hoarding the product until normal supply is restored.

Meanwhile, Okogbule Nwokama also a building material merchant, is of the view that the price of cement will still rise this new year above the current N1,700 and N1,800, because the season is set for construction activities, and that normal supply will not be restored instantly.

He said that the prices of all the cement brand are the same, but lamented that companies should restore supply.