Connect with us

latest

Nigerians Lament Rising Building Costs As Cement Hits New Peak This Week.

Published

on

Concerns have intensified across the construction sector as the price of cement in Nigeria climbs to a new threshold amid ongoing economic reforms under the Tinubu administration. Market observations gathered on Sunday indicate that major producers are now operating within a narrow pricing band, with only slight variations among competitors.....KINDLY READ THE FULL STORY HERE▶

According to Nivo News, Dangote Cement and BUA Cement are currently selling at ₦10,000 per 50kg bag, while Mangal Cement is offering its product at ₦9,800, making it marginally cheaper than the leading brands. Analysts note that several factors continue to shape the cost of cement nationwide.

Energy and fuel remain the most significant cost drivers, as cement plants rely heavily on gas, coal, and diesel to power operations. Frequent disruptions in fuel supply, especially petrol scarcity, also trigger spikes in diesel prices, ultimately raising production and distribution expenses.

Transportation costs are another critical contributor, with manufacturers attributing rising prices to deteriorating road networks and increased maintenance expenses for haulage trucks. Higher diesel costs further elevate the charges imposed by transport operators.

Although most cement is produced locally, the industry’s reliance on imported machinery and industrial components exposes manufacturers to port challenges, customs fluctuations, and foreign exchange scarcity. These factors continually push up the cost of maintaining and replacing essential equipment.

Exchange rate instability adds additional pressure, as key materials used in cement production — including gas, lubricants, spare parts, and specialized tools — often require dollar-linked payments. Any movement in the Central Bank’s official rate directly affects production expenses.

The availability of raw materials such as limestone, gypsum, fly ash, and laterite also plays a significant role, especially in regions where distance from mining sites increases extraction and transportation costs. Seasonal demand patterns further influence pricing, with costs typically rising during the dry season, year-end building activities, and periods of increased government infrastructure spending.

Experts also point to taxes, levies, and regulatory compliance requirements as part of the cumulative cost burden shouldered by manufacturers. Nevertheless, some companies with higher operational efficiency, such as certain northern producers, are able to offer slightly lower prices, giving them a competitive edge in specific markets.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

latest

Ronaldo-less Portugal Suffer Crushing Defeat Against Denmark In First Major Test Without Their Captain.

Published

on

Portugal suffered a humiliating 4-1 defeat at home to Denmark in the UEFA Nations League on Saturday night, November 14, setting unwanted records in their first match since Cristiano Ronaldo announced his retirement from international football.....KINDLY READ THE FULL STORY HERE▶

The Seleção were beaten at the Estádio Municipal de Braga, with Danish striker Rasmus Højlund scoring twice to inspire his country to an emphatic victory.

Naija News reports that the encounter was Portugal’s first outing since Ronaldo brought his 23-year international career to an end on November 5, 2026.

The 41-year-old forward retired from international football as the country’s most-capped player, with a world-record 234 appearances and 146 goals.

Before kick-off, Portugal paid tribute to their legendary former captain. The players wore shirts featuring his iconic number seven, while supporters gave him a standing ovation around the seventh minute of the match. Messages reading “Obrigado, capitão” (Thank you, captain) were also displayed on the stadium screens.

However, Denmark quickly turned the occasion into a disappointing night for the hosts.

The visitors took the lead in the 43rd minute after Rúben Dias handled a header from Højlund inside the penalty area, allowing Pierre-Emile Højbjerg to convert from the spot.

Højlund doubled Denmark’s advantage five minutes into the second half before completing his brace in the 57th minute.

Joachim Andersen then made it 4-0 in the 75th minute, handing Portugal their first-ever four-goal defeat in an official home fixture.

Bernardo Silva managed to pull one back for Portugal in the third minute of stoppage time, but his effort did little to change the outcome as the hosts suffered a heavy defeat.

The result also ended Portugal’s impressive record of never losing by more than one goal without Ronaldo in the team since their 3-0 defeat to Spain on September 6, 2003, shortly after the forward made his international debut.

Furthermore, it was the first time Portugal had conceded four goals in a match since their 4-2 loss to Germany at Euro 2020 in June 2021.

Despite the disappointing result, Portugal remain top of Group 4 with 12 points and had already secured qualification for the quarter-finals before the encounter.

Denmark, meanwhile, moved to nine points, keeping their hopes of finishing top of the group alive.

Portugal will now turn their attention to their final group fixture against Wales as they look to maintain their position at the summit.

Continue Reading

latest

Atiku, Makinde Move Closer To Political Alliance As 2027 Presidential Race Heats Up.

Published

on

Representatives of former Vice President Atiku Abubakar and Oyo State Governor, Seyi Makinde, have reportedly held several meetings to discuss the possibility of forming a political alliance against President Bola Tinubu ahead of the 2027 general election.....KINDLY READ THE FULL STORY HERE▶

Makinde had earlier confirmed that he was engaged in discussions with Atiku and the presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi.

However, a report by The Punch indicates that the negotiations between Atiku and Makinde are separate from the broader consultations among opposition leaders seeking to present a common presidential candidate against Tinubu.

According to the publication, there are strong indications that the former Vice President and the Oyo governor could eventually work together ahead of the 2027 presidential election.

Political figures familiar with the discussions disclosed that representatives of both camps had held several meetings and were making progress towards reaching an agreement.

A South-West leader of the African Democratic Congress (ADC), who spoke on condition of anonymity, expressed optimism about the outcome of the negotiations.

He described the discussions as recent, purposeful and promising, adding that both politicians could formally announce their plans soon.

When asked when the proposed alliance would be made public, the ADC chieftain jokingly responded, “before January 16,” accompanied by a laughing emoji in a text message.

Similarly, a candidate of the Allied Peoples Movement (APM), who is familiar with Makinde’s political activities, expressed confidence that the governor would work with Atiku during the 2027 presidential election.

He explained that the proposed alliance was gradually taking shape following several virtual and physical meetings involving representatives of both political camps.

“The available information is that the Atiku and Makinde alliance is very possible, and it is taking shape. A series of meetings, both virtual and physical, have been held in the last few weeks, and they are fruitful.

“What is on the ground shows that both parties have reached compromises, and they are going to unveil that very soon,” he said.

Meanwhile, the Oyo State Commissioner for Information, Dotun Oyelade, confirmed that Makinde was holding discussions with other opposition leaders, although he did not specifically confirm an agreement between the governor and Atiku.

Oyelade described the politicians involved in the consultations as experienced individuals who understand the complexities of contemporary politics, particularly issues surrounding the Tinubu administration.

He added that Makinde was willing to collaborate with other opposition groups if such an arrangement could provide a practical solution to the challenges facing Nigerians.

According to the commissioner, the governor believes that the country must address the growing hardship and poverty affecting citizens.

He stated, “As far as Governor Seyi Makinde is concerned, he is not averse to working directly with other opposition tendencies as long as there’s light at the end of the tunnel to end the unequalled sufferings of the masses, because he believes that the level of renewed poverty is absolutely needless.”

However, the specific details of the negotiations remain unclear, including the proposed structure of the alliance and how the parties intend to resolve possible disagreements over the presidential ticket.

The ADC has also confirmed that opposition parties are continuing consultations on possible collaboration ahead of the 2027 general election.

The party’s National Publicity Secretary, Bolaji Abdullahi, maintained that the discussions involved several opposition parties and were not restricted to any particular political figure.

“All opposition parties are still talking. And it’s never too late,” he said in a WhatsApp message to the publication.

Continue Reading

latest

Atiku Raises Alarm, Reveals Governor Suspended Imam At Mosque Where He Prayed.

Published

on

The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has accused some politicians of targeting and victimising individuals associated with him.....KINDLY READ THE FULL STORY HERE▶

Atiku made the allegation on Saturday during a courtesy visit to the Emir of Bauchi, Alhaji Rilwanu Suleiman Adamu, as part of his ongoing presidential campaign activities in the state.

The former Vice President claimed that an Imam was suspended after leading a congregational prayer he attended at a mosque.

Atiku explained that his visit to the Emir’s palace was intended to demonstrate respect for traditional institutions and their leadership.

Addressing the traditional ruler, he said Bauchi was his home and that he considered it important to pay homage to the Emir.

“Your Royal Highness, for me, this is my home. I came to the palace to pay my respect and honour to our royal father,” he stated.

Atiku also praised Bauchi State Governor, Bala Mohammed, for allowing him access to the traditional emirate and facilitating his meeting with the Emir.

He noted that in some states he had visited, political authorities allegedly prevented him from meeting traditional rulers and paying his respects.

The ADC presidential candidate, however, expressed concern over what he described as growing interference by politicians in the affairs of traditional institutions.

He cited the alleged suspension of an Imam at a mosque where he had prayed, questioning the authority of a governor to take such action.

According to Atiku, Imams in Northern Nigeria traditionally operate under the authority of paramount traditional rulers, including Emirs, rather than state governors.

He argued that governors occupy temporary political offices, while traditional rulers remain custodians of their institutions and heritage.

Atiku further accused politicians of disregarding established procedures and encroaching on the responsibilities of traditional rulers.

He assured the Emir that such practices would not be tolerated under his administration if given the opportunity to lead the country.

The former Vice President also recalled that traditional rulers maintained authority over religious scholars, clerics and other traditional institutions even before the colonial era.

Atiku concluded by praying for Allah to grant him the opportunity and determination to uphold the interests of traditional institutions and preserve the history and heritage of the people.

Continue Reading

Trending