Inflation: Cement, Tomato, Garri Prices Drop

Building industrial is beginning to withness gradual relief as price of a bag of cement is gradually dropping from its initial N8,000 a bag.

The skyrocket of a bag of cement started around March of 2024 after the federal government floated the Naira to adopt a single window exchange rate.

This made cement manufacturing companies like Dangote Cement, BUA Cement and Lafage to increase the cost of a bag to over N13,500 before the federal government intervention through the Minister of Work, Davi Umahi, persuaded them for a reduction.

The cement manufacturers agreed on the reduction which made the retailers to sell at the rate of N8,000 a bag.

Blaze Newz gathered from a cement retailer in Ogo-olowu area of Osun state that a bag of cement now sell for N7,500.

Also, in a market survey carried out by our reporter at the Owode-Ede market in Ede, Osun state, tomato sold for N500 before Eid-il-Kabir festival is now N200.

Speaking, Mallam Sanusi told our reporters that for now only tomato dropped in price insisted that Onion, pepper, dry pepper prices may also drop.

He blamed the federal government for not doing enough by providing security for farmers in the north, added that high cost of fuel price also contributed to the unpleasant situation.

A congo of Garri that sells for N1,500 now sell for between N1,200, and N1,100.

A Garri seller who spoke with our reporter said cost of processing the food led to the high price.

Labourers now demand for hug amount and transporting the food to market price has doubled comparing to last year.