Cement Prices in Nigeria Continue to Rise, with Nominal Gains Across the Nation
The cost of cement in Nigeria has experienced a prolonged upward trend, with prices increasing by as much as 43% over the past six to eight months. As of now, a 50kg bag of cement averages ₦8,800 nationwide, with some regions even recording prices as high as ₦10,000.
This consistent hike has generated widespread concerns, particularly among individual homebuilders and the construction industry as a whole.
Earlier this year, the House of Representatives summoned major cement manufacturers, including Dangote and BUA, to address the issue. Lawmakers accused the companies of exploiting exchange rate volatility, corruption, abuse of power, and manipulating market dynamics to sustain high prices.
Despite this intervention, prices have remained largely unchanged, leaving many Nigerians struggling to afford basic building materials.
What’s Driving the Rise in Cement Prices?
Industry experts have pinpointed several key factors contributing to the soaring cost of cement in Nigeria:
1. The Nigerian Naira’s Decline: The currency’s depreciation against the US dollar has significantly increased the cost of importing raw materials, resulting in higher production costs.
2. Increased Transportation Costs: Poor road infrastructure and rising fuel prices have amplified the expenses associated with transporting cement across the country.
3. Limited Competition: The dominance of a few major players in the cement industry has raised concerns about monopolistic practices, including price manipulation.
4. Heightened Demand: Nigeria’s population growth and urbanization have sustained high demand for cement, further driving up prices.
As the high cost of cement continues to weigh on the economy, Nigerians are urging policymakers to develop lasting solutions that will make housing and construction more affordable.
Current Prices from Major Manufacturers
Here are the current prices of major cement producers in Nigeria:
Dangote Cement
Proceed with caution, as prices may vary depending on your location, but generally range from ₦8,600 for a 50kg bag of Dangote cement.
BUA Cement
BUA cement retails for around ₦8,000 per 50kg bag in Nigeria.
POP Cement
Pop White Cement or Plaster Cement – approximately ₦7,900
Lafarge Cement
Lafarge Waterproof Cement – ₦10,500
Water Shield High Quality Waterproof Cement – ₦12,000
