Cement price hits roof top

Cement. Price hits rooftop

The prices of different brands of cement have increased astronomically leaving builders and home owners complaining seriously about the high cost.

This has already triggered a ripple effect in the open market, with prices going up by about 44 percent in few days.

Investigations revealed that operators under the Cement Manufacturers Association of Nigeria (CMAN) have raised prices of brands by N600 per bag in factories, including additional N100 cost for haulage.

This has increased retail prices from N1,600 to N2,300 depending on location. In some areas, prices have shot up to N21,350 or higher.Members of the CMAN include Dangote Cement Plc, which is emerging as a market leader and has factories in Gboko, Benue State; Obajana, Kogi State; and Ibeshe, Ogun State.

Other are: Lafarge Cement WAPCO Plc; Cement Company of Northern Nigeria Plc; Ashakacem Plc and Cross-River based United Cement Company.

Vice President, Nigerian Institute of Building, Kunle Awobodu, said: “This is going to create crisis in the construction sector and bad blood between clients and contractors, as developers will make claims for fluctuations.

“Invariably, it will lead to upward reviews of contract sums. New and on-going projects will be delayed until there is agreement on the contract variations. It can also expedite construction activities because of the anticipation of further increase.”

According to an official in one of the cement manufacturing companies, the hike is not unconnected to difficult operating environment.

Comments

Houthis Claim Attack on Central Israel in Response to Gaza ‘Massacres’

The ongoing conflict between Israel and Hamas has taken a concerning regional turn as the Houthi rebels in Yemen claimed responsibility for an attack on central Israel. The group announced this as part of their escalating response to what they describe as "massacres" in Gaza amid the Israeli military’s operations in the strip. Details of the Attack The Houthis, a Shiite militant group with ties to Iran, declared that they launched missile and drone strikes targeting Israel. While the exact impact of these attacks remains unclear, reports suggest that Israel’s defense systems intercepted several threats over its airspace. This marks a significant escalation as the Houthis widen their involvement in the conflict beyond their typical operations within Yemen and neighboring Saudi Arabia. The Houthis’ Justification In their statement, the Houthis framed the attack as retaliation for Israel’s military actions in Gaza, which they characterized as indiscriminate bombings resultin...

Fire: UniJos Senate convenes emergency meeting on Monday

Fire at the University of Jos Library University of Jos is to convene an emergency senate meeting on Monday to review the level of damage done to the institution by the Saturday night inferno. The Vice Chancellor, Prof. Sebastian Maimako, disclosed this on Sunday after inspecting areas affected by the incident. The fire, which lasted for more than six hours, destroyed the Library Complex that equally houses the faculties of management and social sciences. The fire also destroyed examination scripts, books and very crucial materials. Consequently, the vice-chancellor said “the Senate will meet tomorrow (Monday) to take a decision about the unmarked examination scripts that were burnt.” On the cause of the inferno, Maimako said investigation had commenced, adding that “nothing has been confirmed yet. We are still investigating.” The vice chancellor said the school was already working with federal authorities toward establishing a main fire station since the mini fire station in t...

UK gets new prime minister Wednesday

Britain Home Secretary Theresa May to be officially unveiled as UK’s new Prime Minister on Wednesday David Cameron is to step down as Prime Minister on Wednesday after Prime Minister’s Questions. Theresa May will succeed him. An eurozone’s top official says it’s important that Britain’s next prime minister gets on with sorting out the implications of Britain’s decision to leave the European Union as soon as possible, reports Associated Press. Speaking after it became apparent that Theresa May could replace David Cameron as soon as this week, Jeroen Dijsselbloem said the next British prime minister will have to “find solutions for the Brexit which has been causing a lot of problems particularly for the U.K., but also for Europe.” He said that the “sooner we can sort out this problematic situation the better.” Dijsselbloem spoke ahead of a meeting of the eurozone’s 19 finance ministers in Brussels. Though Britain’s decision to leave the EU isn’t a primary topic of discussion, the ...

Global Naija Info

Search This Blog