On Wednesday, February 14, in an interview with the News Agency of Nigeria(NAN), the end users of cement in Benue denounced the sudden increase in the price of cement from ₦5,500 to ₦8,000.
According to Mr James Toryila, the astronomical increase in the price of cement is not genuine, stressing that sellers of the product only want to take advantage of the vulnerable economy to make 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, Mr Simon Adzende, condemned 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 called for the urgent intervention of 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 ₦7,500, expressed shock that cement had gone up to ₦8,000 on Wednesday.
Mr Ternenge Shima, a cement trader however, said that the increase was gradual and not so sudden as most buyers were claiming.
