Cement @N15,000/bag: Nigerians advised to suspend housing projects

Maureen Aguta

Peoples Democratic Party (PDP) chieftain and former Delta State governorship candidate, Chief Sunny Onuesoke, has expressed anger over the astronomical hike in cement prices across the country.

Consequently, he has appealed to builders to suspend whatever projects they are undertaking temporarily until the price of cement returns to the status quo, reports Sunday Vanguard.

The price of a bag of cement has risen from N5, 000 to up to N15, 000. The price varies from state to state. In Abuja, it was reported that a bag of cement sells for as high as N15, 000.

Speaking to journalists on the sideline during a conference on the economy of Nigeria in Lagos, Onuesoke lamented the rising prices of building materials across the nation, stressing that it is disheartening to see how much Nigerians have to pay for essential building commodities like cement, with the prices rising almost daily.

The PDP chieftain maintained that the high cost of cement would render most Nigerian families homeless if not checked, adding that it is totally condemnable to sell a bag of cement at the rate of N15,000 per bag in a country where so many families go to bed hungry.

According to him, nothing is moving in the country because the high cost of cement has greatly reduced the rate of development, adding that those intending to build companies, industries and new buildings cannot do so because of the exorbitant rate of the commodity.

He demanded that the federal government reduce the price of a bag of cement to N1, 000, and issue licences to Nigerians who are ready to do the cement business while also creating an enabling environment for them to thrive.