WRITTEN BY: CHIOMA MADONNA NDUKWU
The price of cement in the Federal Capital Territory has surged to unprecedented levels, with a 50-kilogram bag now commanding between N10,000 and N15,000.
According to a report by Daily Post, a recent market survey conducted in various areas including Gwarimpa, Kubwa, Lugbe, and Dawaki revealed that the cost of Dangote cement stands at N10,000 per bag, while BUA cement is priced at N15,000. Retailers lamented the drastic increase, with some reporting selling the same bag for as low as N6,000 just a year ago.
The Minister of Housing and Urban Development, Arc. Musa Dangiwa, expressed concern over the exorbitant rise, attributing it to factors beyond fluctuations in the exchange rate. This surge comes amidst Nigeria’s soaring inflation rate, which recently hit 29.90 per cent according to the National Bureau of Statistics.
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