LATEST UPDATE: See Current Price For Bag Of Dangote, BUA, Other Cement
As of February 28, 2025, the price of cement in Nigeria has been highly unstable, experiencing significant fluctuations. In response to the rising costs, the Federal Government has stepped in, urging cement manufacturers to lower the price of a 50kg bag of cement to ₦7, 000. This directive was issued by the Minister of Works, David Umahi, during a meeting on February 26, 2025. He stressed that the recent stabilization of the naira, coupled with a decline in petrol prices, should make it feasible for cement manufacturers to implement a price reduction.
Umahi made it clear that cement producers had a one- week deadline to adjust their prices to ₦7, 000 per bag. He warned that failure to comply with this directive would force him to escalate the matter to President Bola Tinubu. Despite the government’ s intervention, reports from market surveys indicate that the prices of cement remain considerably higher than the government’ s recommended pricing. Currently, Dangote Cement is being sold for amounts ranging between ₦9, 500 and ₦10, 000 per 50kg bag, depending on the region and the specific retailer. Similarly, BUA Cement is available at prices ranging from ₦8, 000 to ₦9, 000 per bag. Additionally, other cement brands such as Elephant Supaset Portland Limestone Cement are being sold at ₦10, 000 per bag, while POP Cement is retailing at ₦9, 500 per bag.
The rising cost of cement has broader implications for Nigeria’ s construction industry. Cement is a fundamental component in building and infrastructure projects, and its high price has led to increased costs for developers, contractors, and individual homebuilders. The situation has made it more expensive to construct buildings, roads, and bridges, potentially slowing down development across the country. Many stakeholders in the construction sector have expressed concerns that if cement prices remain high, it could have a negative impact on economic growth and job creation.
The government’ s intervention in the cement market is part of a broader effort to curb inflation and ease the financial burden on citizens. However, its effectiveness remains uncertain, given that manufacturers are dealing with economic realities such as production costs, foreign exchange rates, and supply chain disruptions. While the government has issued a directive for cement prices to be reduced to ₦7, 000 per bag, manufacturers have argued that pricing is determined by various factors beyond their control. They have called on the government to address underlying economic challenges, including improving energy supply, reducing transportation costs, and stabilizing foreign exchange rates.
As the deadline set by the Minister of Works approaches, all eyes are on cement manufacturers to see whether they will comply with the government’ s directive or continue to sell at prevailing market rates. If manufacturers fail to reduce their prices as instructed, it remains to be seen whether the government will take further action or introduce additional measures to regulate the industry. Some industry analysts have suggested that a collaborative approach between the government and cement producers would be more effective than issuing directives, as it would allow both parties to address concerns and work toward a long- term solution.
In the coming weeks, the outcome of this situation will determine whether consumers will experience relief in cement prices or if the current pricing trends will persist. Given the importance of cement to national development, many Nigerians are hopeful that an agreement can be reached to make cement more affordable. However, unless the root causes of high production costs are addressed, cement prices may continue to remain volatile, regardless of government intervention.
