No More 7000 Per 50kg? See The Current Prices Of Cement As Dangote, BUA, And Others Reveal New Rates
Despite concerted efforts by President Bola Tinubu’ s administration to stabilize the economy, the price of cement continues to fluctuate in Nigeria. This development comes amid the government’ s recent economic strategies aimed at enhancing market stability.
In a significant move, President Tinubu inaugurated the Presidential Economic Coordinating Committee (PECC), tasked with addressing the nation’ s economic challenges. The committee includes prominent figures from the private sector, such as Aliko Dangote, Chairman of Dangote Group; Tony Elumelu, Chairman of Heirs Holdings; Bismarck Rewane, CEO of Financial Derivatives Company Limited; and Wale Edun, the Minister of Finance and Coordinating Minister for the Economy.
Amid these developments, Aliko Dangote has voiced concerns over recent policy decisions by the Central Bank of Nigeria (CBN). Speaking at a three- day summit organized by the Manufacturers Association of Nigeria (MAN) at the Banquet Hall of the State House in Abuja, Dangote criticized the CBN’ s consecutive interest rate hikes. The latest increase saw the Monetary Policy Rate (MPR) rise from 24. 75 percent to 26. 25 percent in May. Dangote argued that such high rates are unsustainable for businesses, stating, ” Businesses cannot cope with the current rate. ”
Dangote emphasized the need for governmental policies that protect and promote business growth, suggesting that a nurturing environment is essential for the survival and thriving of businesses in Nigeria. His statements underscored the broader implications of fiscal policies on the industrial sector, particularly in manufacturing and construction, where cement plays a critical role.
Price of Dangote Cement ₦6, 830 to ₦7, 500 per 50kg bag, depending on location.
Price of BUA Cement ₦6, 600 to ₦7, 000.
Price of Ibeto Cement ₦6, 300 to ₦7, 000.
Price of Lafarge Cement ₦6, 500 to ₦7, 300.
Price of UNICEM Cement ₦6, 900 to ₦7, 500, depending on location.
Price of POP Cement ₦8, 500.
These prices reflect the ongoing volatility in the cement market, highlighting the need for effective economic policies to ensure stability and support business growth in Nigeria.
