JUST IN! ! See How Dangote, BUA, Other Cement Are Being Sold This Week; Details Emerge
The cost of cement in Nigeria has been on a steady rise, creating significant concern among consumers and stakeholders in the construction industry. Over the past six to eight months, the average price of a 50kg bag of cement has climbed to around ₦8, 800 nationwide, with prices reaching as high as ₦10, 000 in certain regions. This consistent upward trajectory has sparked debates about affordability and the underlying factors driving these increases.
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In response to the growing outcry, the House of Representatives summoned major cement manufacturers earlier this year, including Dangote and BUA, to address concerns over the rising prices. During the discussions, these companies faced allegations of exploiting currency exchange rate fluctuations, engaging in questionable business practices, and manipulating the market to sustain high prices. Despite these hearings and ongoing engagements with lawmakers, the cost of cement remains prohibitively high for many Nigerians.
For individual homebuilders, the financial burden has become especially pronounced. The escalating price of cement has made it increasingly difficult to fund construction projects, forcing many to delay or abandon plans for building homes. This has led to widespread frustration as citizens and industry professionals alike continue to grapple with the economic implications of these price hikes.
Below is a breakdown of the current prices for some of the leading cement brands in Nigeria as of this week:
Dangote Cement: Priced at ₦8, 650 per 50kg bag, though prices may vary by location.
BUA Cement: Currently sold at ₦7, 000 per 50kg bag.
POP Cement (Plaster of Paris White Cement): Available for ₦10, 300 per 50kg bag.
Waterproof Cement: ₦10, 500 per 50kg bag.
Water Shield High- Quality Waterproof Cement: ₦12, 000 per 50kg bag.
The persistent increase in cement prices has raised questions about regulatory oversight and market competition. Industry experts and consumer advocacy groups have called for a more robust intervention to address the factors contributing to these rising costs. They argue that creating a competitive and transparent market could lead to more affordable prices for consumers.
While the government and lawmakers have expressed concern and initiated conversations with industry leaders, tangible solutions remain elusive. Many Nigerians hope for decisive actions that will make building materials like cement more accessible and affordable. Until then, individuals and businesses involved in construction must continue to navigate the challenges posed by these rising costs.
The need for collaborative efforts between government agencies, manufacturers, and consumer groups cannot be overstated. Addressing the root causes of the price hikes and implementing long- term solutions will be critical to ensuring that cement, a cornerstone of infrastructure development, becomes more affordable for all.
