Current Prices Of Dangote, BUA, And Other Cement Brands This Week.

Current Prices Of Dangote, BUA, And Other Cement Brands This WeekThe price of cement in Nigeria continues to rise, with a 50kg bag now averaging ₦8,800 nationwide, and prices reaching as high as ₦10,000 in some states. This persistent price hike, which has been ongoing for the past six to eight months, is putting considerable strain on both individual homebuilders and the broader construction industry.....KINDLY READ THE FULL STORY HERE▶

Earlier this year, the House of Representatives summoned major cement manufacturers, including Dangote and BUA, to address the soaring costs. Lawmakers accused the companies of exploiting exchange rate volatility, engaging in corruption, and manipulating market dynamics to sustain high prices.

Despite these interventions, cement prices have largely remained unchanged, leaving many Nigerians unable to afford essential building materials.

Factors Driving Cement Price Increases

Several factors have been identified as contributing to the rising cost of cement in Nigeria:

1.Exchange Rate Volatility: The depreciation of the naira against the dollar has increased the cost of imported raw materials, driving up production costs.

2.High Transportation Costs: Poor road infrastructure and rising fuel prices have significantly increased the cost of transporting cement across the country.

3.Limited Competition: The dominance of a few major players in the cement market has led to concerns over monopolistic practices and price manipulation.

4.High Demand: Population growth and urbanization continue to fuel high demand for cement, further pushing up prices.

As cement prices continue to weigh heavily on the economy, Nigerians are calling for policy changes to address the affordability of housing and construction materials.

Cement Prices for Major Brands This Week

•Dangote Cement: ₦8,600 per 50kg bag (location-dependent)

•BUA Cement: ₦8,000 per 50kg bag

•POP Cement (Plaster of Paris): ₦7,900 per 50kg bag

•Lafarge Cement:

•Waterproof Cement: ₦10,500 per 50kg bag

•Water Shield High Quality Waterproof Cement: ₦12,000 per 50kg bag

As the cost of cement remains high, the hope is that effective policy measures will be introduced to ease the burden on Nigerians and ensure more affordable building materials.