LAGOS FEBRUARY 18TH (URHOBOTODAY)-Peoples Democratic Party (PDP) Chieftain and former Delta State Gubernatorial candidate, Chief Sunny Onuesoke has expressed anger over the astronomical  hike of cement price across the country.

Consequently, he has appealed to builders across the country to suspend whatever projects they are under taking for now until the price of cement returns to the status quo.

Recall that just recently, the price of a bag of cement has risen from N5,000 to N8,000 or  N10,000. The price varies from state to state. In Abuja, it was reported that a bag of cement sells for outrageous N15,000.

Speaking to journalists on the sideline during a conference on the economy of Nigeria in Lagos, Onuesoke lamented the rising prices of building materials across the nation, stressing that it is disheartening to see how much Nigerians have to pay for essential building commodities like cement, with the prices rising almost on a daily basis.

The PDP Chieftain maintained that the high cost of cement would render most Nigerian families homeless if not checked, adding that  it is totally condemnable to sell a bag of cement at the rate of N15,000 per bag in a country where so many families go to bed hungry.

He  alleged that the astronomical increase in the price of cement in Nigeria is not genuine, stressing that sellers of the product which is cheaper in other West African countries only want to take advantage of the vulnerable economy to make huge profits.

According to him, there is nothing movinh in the country because the high cost of cement has greatly reduced the rate of development, adding that those  intending to build companies, industries and new buildings cannot do so because of the exorbitant rate of the commodity.

“You cannot tell me that between last week and this week, the cost of producing cement increased to warrant this high price. It is disheartening to see how much Nigerians have to pay for essential building commodities like cement, with the prices rising almost on a daily basis. I don’t understand the reason for this increase, and it is not acceptable.

“The limestone, clay, silica sand, gypsum, iron ore, and the rest for the production of cement are bound  in Nigeria and these manufacturers get them here at zero cost, so there is no justification to try and blame it all on the rise of dollar,” he argued.

Analyisng the effect of the rise in the cost of cement  on the masses, Onuesoke said, “No prospective trader that can afford the house that is build with N15,000 bag of cement. There is no magic. No young graduate, no civil servant that can afford a single bedroom flat that is build with a bag of cement of N15,000. There is problem in the land.”

He pointed out that the high cost of cement has greatly reduced the rate of development hence those intending to build companies, industries and new buildings cannot do so because of the exorbitant rate of commodity.

Consequently, the PDP Chieftain demanded that the Federal Government should reduce the price of a bag of cement to N1,000, issue licence to Nigerians who are ready to do the cement business while also creating an enabling environment for them to thrive.

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