LATEST UPDATE: Despite Tinubu’s Order, Dangote/BUA Cement Price Skyrocket Again; See States To Buy It Cheap
The attempts to regulate cement prices in Nigeria have not yet produced the desired results because the price of a 50- kg cement bag is not stable but instead fluctuates across the various retail markets from N8, 500 to N10, 500. The magnitude of this range also deviates substantially from the envisaged N7, 000 to N8, 000, thus
In the midst of the main cement producers in Nigeria, which include Dangote, Lafarge, Ibeto, BUA, and UNICEM, the country is still in a higher price range as compared to its African counterparts. Both brands are reputed for their quality and wide distribution network, but the prices of cement are at almost the same level across the country.
Specifically, Ibeto and BUA Cement are affordable products compared to the ones already on the market. Dangote Cement, on the other hand, lies in the mid-range category. UNICEM and Lafarge Cement, indeed, are high-end products.
Wholesale buying may be able to cut back some of the cost, but retail prices are still high enough to be unaffordable to the average Nigerian and small-scale builders. This price volatility is a great challenge, and it is a serious problem in the construction industry and infrastructural development.
Concerning cement prices all over Nigeria, the price consistently ranges. from N8, 500 to N10, 000 per bag. Nonetheless, Abuja City also remains with prices ranging from 8, 500 to 15, 000, which is the most fluctuating price in the country.
However, the indispensability of some popular brands of cement and government interventions could not completely stop the variation in the price of cement in Nigeria, as it remains a challenge to both the construction industry operators and the consumers. This matter should be taken on board. with no room for error if we want to have properly laid- out infrastructure as well as sustainable economic growth.
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