FG blames #EndSARS protest, COVID-19 for rising cement prices


FG blames #ENDSARS protest, COVID-19 for rising cement prices

By Victoria Ojeme

The Federal Government says last year’s #ENDSARS protests and the COVID-19 pandemic which disrupted production flows were responsible for the skyrocketing of cement price in Nigeria.

The Permanent Secretary of the Ministry of Industry, Trade and Investment, Nasir Sani-Gwarzo said this at an event in Abuja adding that the development affected the volume of stock levels in the supply chain due to reduction of cash flow of major distributors and high cost of transportation.

Market surveys show that prices of cement and associated products, such as blocks, in many states, including Abuja, have continued to rise.

For instance, the price of a 50-kilogramme bag now goes for N3, 700 in Lagos and Cross River states; N4,000 in Enugu and Imo states; Rivers state N4,300; Abuja N3,700; Kano and Oyo states N3,500.

Until the last quarter of the year, cement was sold for between N2400 and N2500 in many of the states.

While nine-inch block in Enugu is sold at N200, and a six-inch…

Source: Vanguard Newspaper