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| Cement Prices in Nigeria |
The manufacturers agreed that the current prices of cement were abnormal and unsustainable, and that they should ideally range from N7,000 to N8,000 per 50 kg bag, depending on the location.
The Minister of Works, Engr David Umahi, has brokered a deal with cement manufacturers to reduce the prices of cement in the country. The deal was reached after a meeting in Abuja, where Umahi invited the representatives of Dangote Plc, BUA Plc and Lafarge Plc, the major cement producers in Nigeria.
The meeting was necessitated by the soaring prices of cement, which reached as high as N15,000 per 50 kg bag in some parts of the country. The minister and his Industry, Trade and Investment counterpart, Doris Uzoka-Anite, listened to the challenges faced by the manufacturers, such as poor road infrastructure, high energy costs, and foreign exchange crisis.
The manufacturers agreed that the current prices of cement were abnormal and unsustainable, and that they should ideally range from N7,000 to N8,000 per 50 kg bag, depending on the location. They also pledged to work with the government to address the issues affecting their operations and the supply chain.
The minister expressed his appreciation to the manufacturers for their cooperation and assured them of the government’s commitment to creating an enabling environment for the cement industry. He also urged the public to report any cases of price gouging or hoarding of cement to the relevant authorities.
