Monday, June 20, 2011
Cement price drops
Agency Reporter
The price of Dangote Portland Cement in Benue State has gone down from N2,600 to N2,250, while that of Bua Cement has also gone down from N2,700 to N2,250.
The News Agency of Nigeria reports from Makurdi that the drop in the price of the product may be as a result of the Federal Government's ultimatum to cement manufacturers to cut down their prices.
A dealer in the commodity, Mr. Ejike Okafor, told NAN that the cost of manufacturing the product was still very high but that companies had opted to cut down their prices in line with the government's order.
Okafor said that the cost of transporting the product from the factories to warehouses was still high.
Another dealer, Mrs. Veronica Nwabueze, blamed the high price of cement on the high cost of diesel.
"Cement companies use diesel in their production process and diesel is also used by the articulated vehicles that transport the product to dealers," Nwabueze said.
Mr. Timothy Gbin, a trader, urged the Federal Government to prevail on oil companies to cut down the cost of diesel and other products.
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