Spike in Cement Prices Raises Concerns Among Benue State Consumers

End users of cement in Benue State have expressed frustration over a sudden surge in the price of the product, with rates skyrocketing from N5,500 to N8,000. Residents of Makurdi, the state capital, voiced their concerns during interviews on Wednesday, highlighting the impact of the price hike on construction projects and the local economy.

Mr. James Toryila, one of the residents, denounced the significant increase in cement prices, attributing it to opportunistic sellers aiming to capitalize on the nation’s economic challenges. He questioned the legitimacy of the surge, stating disbelief that production costs could justify such a sharp rise within a week.

Echoing Toryila’s sentiments, Mr. Simon Adzende condemned the price hike, labeling it as shocking and warning of its adverse effects on low-income earners. Adzende emphasized that the inflated prices would deter individuals from undertaking building projects, further straining the already fragile economy.

Adding to the chorus of discontent, Mr. Oche Onah recounted his recent purchase of cement at N7,500 on Monday, only to be surprised by the sudden increase to N8,000 just two days later. This rapid escalation in prices has left many consumers bewildered and concerned about the affordability of essential construction materials.

In contrast, Mr. Ternenge Shima, a cement trader, offered a differing perspective, suggesting that the price increase had been gradual rather than abrupt. However, this assertion conflicts with the experiences of many buyers who have felt the impact of the surge acutely.