Home BUSINESS Prices of timber products and building materials Increase in Akwa Ibom

Prices of timber products and building materials Increase in Akwa Ibom

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FILE PHOTO: Building materials

 

By Christopher Tom, Uyo

Prices of timber products and building materials have continue to be at the Skyrocketing increase even as we are approaching Christmas and New Year.

In Akwa Ibom State precisely, traders and timber dealers in Ifa Ikot Okpon market are seriously complaining bitterly how the skyrocketing prices of product has affected and cripple their businesses, as customers are not patronizing their business towards the experience of  price increase of  timber product and building materials .

They complain that federal government economic policies also contribute effect toward purchasing power of their customers who travel from far distance and within cannot extent hand of fellowship in patronizing them.

The secretary of Ifa Ikot Okpon timbers dealers association, Mr. Aniedi Iwok told our correspondent during a visit to the market over the week that the economic is not friendly with their business while customers has significantly reduced witnessing low patronages without any profit because of the economic situation in the country need urgent attention if not would continue to experience and witness hunger in the land with increase of timber product and especially food items.

Mr. Aniedi, who frowned at the rate things are going in the country, said know government has patronize their business despite their huge project in the state. While we have not fail to pay our levy regularly.

He said some of their members are seriously in a huge debt while some are already backup from the business over the present situation at hand called on government to assist them with grants understanding timber business is capital intensive.

The Ifa Ikot okpon timber dealers secretary, explain some of the increase in the timber market for example timber – 4 by 12 before is hundred naira now is seven hundred and nine hundred naira respectively while cheapest timber product load truck is between seven hundred thousand and nine hundred thousand now is 1.5 Million which cannot be affordable by them but two persons can collaborate to buy the truck.

He revealed that towards the development cause by lack of funds may generate set back in the business come 2021.

In the same vain, the vice president of Uyo building material dealers association, Mr. Sunday Arimze also complain to our correspondent over their own predicament in the business, saying that it was an unfortunate situation experience the increase of building materials which has cause more than 100 shops close down because of lack of funds and serious debt on their members.

He said zinc that was cost before Covid-19 was sixty three thousand now is ninety five thousand while cement is two thousand three hundred now three thousand two hundred, rob which is 16 mm three thousand five hundred now five thousand naira, 12 mm one thousand eight hundred now three thousand two hundred etc while called on government assistance.

 

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