‘Why construction is stalled in Rivers’

Developers  in Rivers State have decried the high cost  of cement. They said the steady increase in the price of the commodity has affected construction. Cement price across the three major cement companies in Lagos for instance  hovers between N2,650 and N2,700 but same cannot be said of Port Harcourt, the Rivers State capital.

Checks on the current price regime  revealed that a bag of Dangote Cement which was sold at N3,000 last week now goes for between N4,000 and N4,500, while a bag of Elephant Cement that sold for N2,600 now sells at N3,500, white cement is between N3,300 and N3,500.

The new price regime represents an increase of about N900 per bag, which translates to about 45 per cent rise in a swoop.

A visit to some construction sites  showed that many builders had stopped work as a result of the astronomical increase in this important building component.

It was gathered that the sudden increase in prices of cement became visible during the #EndSARS protests across the country.

Reacting to the development in an interview, a developer lbecheme Kinika said: “Just two weeks ago, I bought a bag for N2,600, only to mobilise for continuation of work today and find out that the price has increased to N3,500.

“How many bags will I buy with the little amount I have now. I will wait till things normalise and I know things will normalise.”

Contributing, Mrs Ngozi Uruakpa, a dealer, lamented that the #Endsars  affected her supplies which led to the increase on the price of her old stock. She advised government to listen to the demonstrators  and kick-start the economy which is almost comatose. She said though she didn’t go out nor allowed her  teenage children to join in the demonstration, she asked the government to reach a truce so that there could be peace while businesses would return in top gear.

A cement dealer in Diobu,  Stanley Madukwe, said the shortage in supply of cement was responsible for the increase in its prices.

According to him, the high cost of transporting cement to Port H arcourt occasioned by the #EndSARS protests led to the increase in the price of the product.

Madukwe, who said he had exhausted his in stock, however, expressed hope that things would return to normalcy as soon as the protests were over.

 

Source link

Nelson

Omotimehin Nelson is a Nigerian award-winning content writer. He derives passion for creative writing. Join me

%d bloggers like this: