The District Chief Executive for Talensi, Thomas Duanab Wuni says the astronomical increase in prices of cement is driven by high demand for the building material.
According to him, the substance is highly sought after because of people’s desire to put up buildings for various purposes.
“We can’t buy cement and people are building all over the place? Get out there and see individuals who are building. So what they are using? Not cement? Demand and supply will always drive prices,” he stated on Breakfast Today on Dreamz FM.
In his observation, many, who could not erect buildings in yesteryears, are now in better positions and doing so, resulting in hikes in the cost of materials used in such activities.
He said that just like how the cost of land has gone through the roof due to high demand, the quest for building materials including cement has pushed their prices up.
“If there was no demand, the price will come down. But there’s high demand. Maybe, I should take you to mining area to see the quantum of cement being consumed”.
Players in the construction sector have in recent times bemoaned the rising cost of building materials particularly cement.
An analysis of the trend of the increases shows that cement prices have skyrocketed in the last few years.
Many have attributed the situation to the free fall of the Ghanaian cedi, which has pushed up prices of raw materials used in its production.
This has resulted in the sector contracting.
An industry player, in an interview on State of Our Nation, said some construction businesses have folded up due to the prevailing situation.
