‘Current Price Of Bag Of Cement Can Be Fatal’ – Builder Voices Concerns

‘Current Price Of Bag Of Cement Can Be Fatal’ – Builder Voices Concerns

Samuel Abayomi, a resident of the Federal Capital Territory (FCT) currently constructing his own home, has expressed deep frustration over the exorbitant prices of cement, which he believes pose a significant threat to individuals’ financial stability…..READ ALSO Reps Push For Stricter Enforcement: Proposed Fine For Nigerian Flag Violation Soars To N100,000

In an interview with Vanguard, Abayomi lamented that the federal government’s policies, or lack thereof, are exacerbating the already daunting challenge of homeownership for middle-income earners in Nigeria.

The surge in cement prices, ranging from N12,000 to N15,000 per 50kg bag, has created immense financial strain for homebuilders, real estate developers, and the construction industry at large.

Reacting to the steep hike, Abayomi remarked, “I had set a timeline to complete my house by June based on my budget. Despite the initial price increase this month, I managed to adjust. However, the current price is alarming and can cause severe distress.”

Expressing concern about the broader economic implications, Abayomi questioned the government’s approach, stating, “How does the government expect us to cope? Must we resort to unlawful means to secure our homes? I fear for Nigeria. Everything is skyrocketing, not just cement. We are struggling to survive each day.”

Abuja-based building contractor Peter Ekondu echoed Abayomi’s sentiments, expressing shock at the unprecedented surge in cement costs. He revealed that the inflated prices had forced him to halt work at one of his construction sites.

“It’s distressing. Less than a week after a client paid N5,500 for 100 bags of cement, they were asked to pay nearly 50% more or seek a refund. Consequently, I had to suspend operations at the site, leaving daily wage workers without income,” Ekondu stated.