By Okhide Em’ya David
Property merchants in Benin City, Edo State of Nigeria have amongst several other concerned, raised alarm over worsening, escalating cost of building materials in the State, which they say may lead to outrageous or astronomical increase in rents and other property charges.
Investigations revealed that since November 2020, the price of tipper load of sand jumped up from N15, 000.00 to N35, 000. 00, while the cost of a bag of cement which had gone down from N4, 000.00 to N3, 500.00 is steadily climbing between N3, 600.00 and N3, 800.00.
Also the cost of unskilled labor at construction site which used to be between N1, 000. 00 and N1, 500.00 is now N2, 000.00 and N2, 500.00.
First to speak on the issue was, Mr. Omorogie Cyril, the CEO of Prince Builders in South-South Nigeria, but based in Benin who told Alltimepost.com that although few of them may not resort to lowering standard and quality of buildings or construction work on site “one can hardly rule out such compromises amongst vast numbers of Estate Managers.”
Cyril said if the issue of escalating cost of building materials in Edo State is not urgently addressed, there could be tragic scenes of collapsed buildings waiting to happen adding that a lot of pressure is being put on the Stakeholders to perform to standard under the hostile price regime.
He said even the cost of “Virgin Plots of Land may soon follow suit as they are in the same “Economic Parlor ” as building or construction work is an all-encompassing enterprise where the market swings which affect one article naturally boomerangs on others.
The property Merchant says it will not be out of place or projection to see the cost of nails, wood, Iron (Rods) POP, Zinc, Aluminum Roofing Sheets and Pebbles or Granites suddenly assuming costlier dimension as they all revolve round the same process of commerce and trade balance.
On his part, a human Right Activist and global President, One Love Foundation, Patriot Patrick Eholor said nobody should point accusing fingers at the key players in the Building or Construction sub sector of the economy as they also buy what they expend at their various sites from either wholesalers or directly from the Manufactures.
Eholor said: “The Traders behavior is largely determined by Government’s reluctance to address lack of local manufacturing of building materials adding that even the few being produced locally such as Cement has no direct intervention from Government to enhance mass production so that the Masses can access the products which price will be at their reach.”
The human right Activist who also deals in real Estate and Mortgage Business said for instance if the moribund Edo Cement Factory at Okpella is revamped it will go a long way to address the astronomical increase in price of Cement.
He said above all, “Government also urgently either in collaboration or directly build Estates for owners/ Occupier transaction, where Tenants in such Estates pay for the Houses for a long period of time as a form of Mortgage offer”
In his comments a Member of the Tipper Lorry Association in Benin who spoke under anonymity for security reasons told Alltimepost.com that costs of tipper Lorries have tripled from N4m to about N12m and above depending on the model.
He says “even getting spare parts has been compounded by the recent closure of borders by the Federal Government explaining that although the policy has been reviewed ,it will certainly take time for the business to stabilize.”
