Cement Prices in Nigeria: A Growing Concern for Construction Sector Stakeholders
The construction industry in Nigeria is facing a pressing issue: the soaring cost of cement. As of 2024, prices have been fluctuating rapidly, driven by a complex array of economic factors.
Industry experts point to supply chain disruptions as a major contributor to the price surge. The instability has hindered the flow of raw materials and finished products, further straining an already stretched market.
Foreign exchange rates have also played a significant role in the price hikes. Since cement production relies heavily on imported raw materials, fluctuations in the naira’s value against major currencies have driven up costs.
Rising labor costs and inflation have further compounded the situation, forcing manufacturers and wholesalers to adjust prices to stay afloat.
Adding to the burden, some wholesalers have raised prices even higher than factory rates, making it increasingly challenging for consumers to purchase cement for their projects.
The price increase at distribution points has had a particularly devastating impact on individual homebuilders, who are struggling to source cement for their projects.
Here’s a breakdown of the current prices of major cement producers:
Dangote Cement
The current price of Dangote cement stands at ₦8,800 per 50kg bag, depending on the location.
BUA Cement
The retail price of BUA cement in Nigeria sells for ₦8,500 per bag.
POP Cement
Pop White Cement or Plaster Cement is priced at ₦10,500 per bag.
Lafarge Cement
A bag of Lafarge cement sells for ₦8,500.
4 Liters Abro Cement for Roofing
This product is priced at ₦32,000 per bag.
