Reported Surge: Cement Prices Allegedly Reach ₦15,000 per Bag

In the Federal Capital Territory, reports from Daily Post indicate that the price of a 50-kilogram bag of cement has surged to between ₦10,000 and ₦15,000. A recent market survey conducted by Daily Post in various areas like Gwarimpa, Area 10, Kubwa, Lube, and Dawaki revealed that a 50kg bag of Dangote cement is priced at ₦10,000, while other competitors’ cement is selling at ₦15,000.

Yinka Adebayo, a retailer in Gwarimpa, highlighted the drastic price increase, noting that he sold the same bag of cement for ₦6,000 in January 2023. Similarly, Rukiyat Abdullahi, a retailer in Kubwa, disclosed that Dangote cement now sells for ₦10,200, while other brands are priced at ₦16,000 per bag.

In Lugbe, retailers confirmed to Daily Post that Dangote cement is priced at ₦10,000, with other brands selling at ₦15,000 per bag. Meanwhile, Minister of Housing and Urban Development, Arc. Musa Dangiwa, expressed concern over the significant rise in cement prices, attributing it to factors beyond exchange rate fluctuations.

This surge in cement prices follows warnings from the Cement Producers Association of Nigeria regarding potential increases due to the government’s plan to introduce concrete roads, with predictions of prices reaching ₦9,000 per bag. These developments occur amidst Nigeria’s persistent inflation, as reported by the National Bureau of Statistics, with inflation reaching 29.90% in January.