Benue residents bemoan cement price hike

Some residents of Benue State have bemoaned the sudden hike in the price of the product from N5,500 to N8,000.

According to the News Agency of Nigeria This end users of cement decried this increase on Wednesday in Makurdi, the state capital.

One of the users, Mr James Toryila noted that the astronomical increase in the price of cement is not genuine, explaining that sellers of the product only want to take advantage of the vulnerable economy to make a huge profit.

“You cannot tell me that between last week and this week, the cost of producing cement increased to warrant this high price.

“What is happening to our economy is worrisome. The Nigerian economy has not been this bad,” Toryila said.

Also speaking, Mr Simon Adzende decried the sharp increase in the price of the product, describing it as shocking.

Adzende said it would discourage low-income earners from embarking on any building project.

He noted that urgent intervention is needed by the government to save the country’s economy from total collapse.

Mr Oche Onah, who said that he bought the product on Monday at the rate of N7,500, was shocked that the price of cement had soared to N8,000 on Wednesday.

Meanwhile, a cement trader, Mr Ternenge Shima, pointed out that the increase was gradual and not as sudden as most buyers were claiming.