Onuesoke Urges Action Amidst Soaring Cement Prices: "Suspend Projects," He Advises Builders

The surge in cement prices has been staggering, with a bag now fetching as much as N15,000, a significant jump from its previous price of N5,000. This spike varies across different states, with reports indicating even higher prices, such as in Abuja, where a bag can command N15,000.

Speaking passionately on the sidelines of an economic conference in Lagos, Onuesoke decried the escalating costs of building materials across Nigeria. He expressed deep concern over the financial burden placed on Nigerians, highlighting the necessity of cement in construction and the detrimental impact of its skyrocketing prices on families.

Onuesoke underscored the potential consequences of unchecked cement prices, warning that many families could face homelessness if swift action isn’t taken. He criticized the unjustifiable sale of cement at exorbitant rates, emphasizing the stark contrast between such prices and the prevalent poverty in the country.

The PDP stalwart pointed out the broader implications of the cement crisis, noting its adverse effects on national development. He lamented how the exorbitant cost of cement impedes progress, hindering initiatives to establish new businesses, industries, and infrastructure projects.

Calling on the Federal Government to intervene decisively, Onuesoke demanded a drastic reduction in cement prices to a more affordable level, suggesting a target price of N1,000 per bag. Additionally, he urged authorities to facilitate licensing for Nigerians interested in the cement trade, emphasizing the need for a conducive business environment to support their endeavors.