- Dangote Cement, BUA Cement, Lafarge Africa, and other cement manufacturers recently agreed with the federal government
- Despite the agreement to reduce prices by approximately 50%, cement prices in Nigeria remain high, ranging from N10,000 to N14,000
- A Nigerian man bought cement at the price of N8,200 per bag in Kaduna state and received a surprise from the seller
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Dangote, BUA, Lafarge and other cement major manufacturers recently agreed to reduce the price of cement by 50%.
Photo credit: Pius Utomi Ekpei
Source: Getty Images
The meeting initiated by the minister of Works, David Umahi was also attended by the minister of Industry, Trade, and Investment, Uzoka-Anite, in Abuja on Monday, February 19, 2024.
No changes cement prices
The meeting was convened in response to a nationwide outcry against the sharp rise in the price of cement.
Despite the meeting, there have been no changes, as a bag of cement still sells for between N10,000 and N14,000, depending on the manufacturer.
Legit.ng reported that David Iweta, the national chairman of the Cement Producers’ Association of Nigeria (CEPAN), the continuous rise in the price of cement is a result of demand outweighing supply.
He stated that a better understanding with the federal government could lead to a reduction in cement prices within 30 days.
He further attributed foreign exchange rates as a contributing factor.
Cement prices
According to Vanguard reports here are the recent cement prices by producers.
| Cement producers | Prices |
| Dangote | N11,000 to N13,000 |
| BUA | N10,000 – N12,000 |
| Lafarge | N13,000 – N14,000 |
| Ibeto | N10,000 – N12,500 |
| UNICEM | N11,000 – N13,000 |
Cement seller refund customers N400
In a similar report, a Nigerian man bought cement at the price of N8,200 per bag in Kaduna state, where he lives.
However, when he got home, he received a phone call from the cement seller informing him the price had been reduced to N7,800 per bag.
Ahmad Kargi said he was surprised when the cement seller offered him his N400 balance even after he had left the shop.
Source: Legit.ng
