The week recorded notable reduction in cement prices across Nigeria, influenced by various market dynamics and government interventions.
Initially, a standard 50kg bag of cement was priced between ₦8,500 and ₦10,000 in most regions of Nigeria.
However, recent developments have led to a significant price drop. For instance, BUA Cement has reduced its ex-factory price per bag as part of its efforts to make cement more affordable.
This reduction is in anticipation of increased production capacity and is aimed at fostering growth in the building and infrastructure sectors.
Other major cement producers like Dangote, Lafarge, and UNICEM are also showing price fluctuations within a range of ₦6,500 to ₦8,500 for a 50kg bag, depending on the region.
This variance often results from differences in transportation costs, local demand, and distribution logistics.
The Nigerian government has been actively engaging with cement manufacturers to stabilize prices.
These efforts include addressing challenges such as high gas prices and import duties, which impact production costs.
A recent meeting between cement manufacturers and government officials concluded with commitments to further price reductions and to reassess progress in the coming months.
Despite these promising developments, market enforcement remains inconsistent, with reports of cement still being sold above the suggested retail prices in certain areas.
Price Of Dangote Cement
The current price of Dangote cement varies from ₦7,500 to ₦8,000 per 50kg bag, depending on the location.
The new price of Ibeto cement in Nigeria ranges between ₦8,500 to ₦10,000.
Price Of Lafarge Cement
The new Lafarge cement price in Nigeria is between ₦7,950 to ₦9,500.
Price Of UNICEM Cement
The price of UNICEM Cement ranges between ₦8,000 and ₦9,000, depending mostly on the location of purchase.
Price Of POP Cement
The price of POP Cement is ₦10,000.
Cement Prices Drops Significantly
