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Tag: cement price

Federal Govt Blames Conornavirus, #EndSARS Protests For Rising Cement Prices

Federal Govt Blames Conornavirus, #EndSARS Protests For Rising Cement Prices

Economy
The Federal Government has attributed last year’s #EndSARS protests and coronavirus pandemic to rising prices of cement in Nigeria. The Permanent Secretary in the Ministry of Industry, Trade and Investment, Nasir Sani-Gwarzo, who said this at an event in Abuja, explained 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...