There is an English saying that whatever goes up must surely come down.
This saying maybe applicable everywhere but I tell you, it is not applicable in Nigeria because when things go up in Nigeria, they stay there permanently.
So, considering how prices of products have skyrocketed in the country other producers have hiked the prices of their products to benefit in the jumbo.
Cement companies that had hitherto promised to reduce their products to ₦3,500, have now raised the price to ₦15,000.
But the President of the federal Republic of Nigeria is not going to sit by and allow such abnormality to thrive.
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So, President Bola Tinubu has directed all cement companies in Nigeria to revert to old prices amid the hike in the cost of the commodity.
The Minister of Works, David Umahi, disclosed this after inspecting the BUA cement factory in Sokoto State.
Umahi said, “Mr President insisted that they should go back to status quo as far as cement price is concerned for the common man.
“Abide by the directive of Mr President so that we can achieve a massive housing programme and building of concrete roads,” he said.
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The bags of cement surged to ₦10,000 and ₦15,000 in Abuja from ₦5,000. Outside cement, the cost of other building materials had also skyrocketed.
Meanwhile, the Minister of Housing and Urban Development, Ahmed Dangiwa, threatened to open the border for cement importation if manufacturers failed to cutdown prices.
