At a time when Nigerians are passing through a difficult economic situation and when everybody believes that the country is self-sufficient in cement production.
Cement manufacturers yesterday shocked home seekers and builders by suddenly increasing the price of a 50 kilogramme bag of cement by 35.2 per cent from N1,700 to N2, 300 in 24 hours. As at Monday, the product was still sold at N1,700 per bag.
Homebuilders who bought some bags of cement on Monday at N1,700 in Aba, Abia State could not understand happenings in the building materials market, as they were told by traders that cement price had increased to N2,300.
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