By Dawud Ahmed in Lokoja.
Photo credit: Premium Times Nigeria.
Cement broke the jinx of hyper inflation in Nigeria as the price of a bag of the product fell from N11,000 to N8,000 in Lokoja, kogi state, north central Nigeria.
This is the outcome of the market survey conducted by our correspondent in the state capital on Wednesday.
Some cement sellers,interviewed by our correspondent, traced the down word trend to the appreciable level of naira to dollar from about N1,700 per dollar down to N1,500 or less in recent time. They described the development as a big relief, not only to them, in terms of business rebound but also that other segments of the population, especially members of the construction sector of the nation’s economy, would feel one positive experience or the other in the construction industry.
The Reporters reports that cement and other building materials joined other goods and services with frightening hike in price tag as they hit the roof resulting in astronomical rise in cost of living in the country.
As a result of the positive development in price of cement,many building contractors have returned to sites and engaging many bricklayers hitherto thrown into labour markets as the price of cement skyrocketed to almost intolerable degree.
Members of the public who also spoke with our correspondent prayed for more down word prices of cement, other building materials as well as food stuffs amon others.
Feelers from some local government areas of kogi state also indicate to The Reporters that,the price of cement has started coming down as well.
