steel metal is expensive right now either unprocessed or processed. within the last 4 years it increases greatly by 10 folds but this year alone the price was above the roof. Plain sheet of iron pan 8by4inch is 30k right now from 5k just about 5 years ago.

Locally made thick iron door just 20years was 8k and the one with fine design was 10k to 12k. While the lite one made with thin pan sheet was much more cheaper far below Like 4k.

I bought those short iron frame for my water tank 2019 just 8k. Today that same iron is about 90-120k.

I recently did a modification to the frame and spend 60k for the small work i couldn’t believe it.

What could be the reason? Is it due to the war in Ukraine? Energy cost in Europe is affecting steel over there and it might be the reason outside of the dollar inflation in Nigeria.

They're using it for war in Ukraine. War definitely will affect price of steel

Bullfallo:
steel metal is expensive right now either unprocessed or processed. within the last 4 years it increases greatly by 10 folds but this year alone the price was above the roof. Plan sheet of iron pan 8by4inch is 30k right now from 5k just about 5 years ago.

Locally made thick iron door just 20years was 8k and the one with fine design was 10k to 12k. While the lite one made with thin pan sheet was much more cheaper far below Like 4k.

I bought those short iron frame for my water tank 2019 just 8k. Today that same iron is about 90-120k.

I recently did a modification to it pending 60k couldn’t believe.

What could be the reason? Is it due to the war in Ukraine? Energy cost in Europe is affecting steel over there and it might be the reason outside of the dollar inflation in Nigeria.

Your country is trying to discourage steel import by imposing high import duty

Without improving local production capacity

Ukraine war is the major culprit with our exchange rates. Those trade embargos on Russia too.

8 by 4 2mm sheet of pan went from 30 to 70k within one year. This thing is affecting my business badly

Everything went up in like manner



January 2023 I bought Ramz lattafa designer perfume for 8k


Today it's 25k


Just in 1 year

michlins:
Ukraine war is the major culprit with our exchange rates. Those trade embargos on Russia too.

8 by 4 2mm sheet of pan went from 30 to 70k within one year. This thing is affecting my business badly

how much is iron door now? Just few years ago 20k to 30 would get good one. Alot of people have abandoned such projects now. Land of 1m two years ago is 5m now.

Bullfallo:
how much is iron door now? Just few years ago 20k to 30 would get good one. Alot of people have abandoned such projects now. Loans of 1m two years ago is 5m now.

65,000 for the ones below