The cost of building materials in Nigeria has become a constant cause for worry.
Following the uproar and reactions of Nigerians after research by SaharaRepoters on Nigeria’s construction markets revealed that Dangote Cement sells for N3,500, while Lafarge sells for N3,400 in Nigeria, speculations have been made as to whether the concerned authorities will move to curb the increment.
Is there a problem?
According to the findings, the price appears to be double of what Zambians pay for the same commodity. As the uncurbed increment of construction materials continues to rise at an alarming rate in Nigeria, the Zambia Board of Commissioners of the Competition and Consumer Protection Commission said it ordered Lafarge Zambia Plc, Dangote Cement Zambia Limited and Mpande Limestone Limited to revert to the cement prices ranging between Kwacha 99 to Kwacha 110 after there was uproar over its recent increment.
The Board also fined Lafarge Zambia Plc and Mpande Limestone Limited 10% of their annual turnovers for the year 2019 and another 10% of their 2020 annual turnovers for price fixing and division of markets.
In the midst of the chaos is the speculation of another increment as the Ramadan fasting continues.
And with the rising competition in the construction ecosystem BUA Group, manufacturer of food products and other consumables, has assured its customers of steady supply of its products at constant price throughout the Ramadan fasting period.