Cement price surges to N15,000 in Abuja

cement price

HYPEBLOG9JA MEDIA reports that the price of a 50-kilogram bag of cement in the Federal Capital Territory has skyrocketed to between N10,000 and N15,000.

According to a market survey conducted on Friday by HYPEBLOG9JA in areas such as Gwarimpa, Area 10, Kubwa, Lugbe, and Dawaki, Dangote cement is being sold for N10,000 per bag, while BUA cement is priced at N15,000.

Yinka Adebayo, a retailer in Gwarimpa, disclosed that the price of Dangote cement has surged to N10,000, compared to N6,000 per bag in January 2023. Similarly, Rukiyat Abdullahi, a retailer in Kubwa, stated that Dangote cement is now sold for N10,200, while BUA cement is priced at N16,000.

Retailers in Lugbe also confirmed to HYPEBLOG9JA MEDIA that the prices of Dangote and BUA cement stand at N10,000 and N15,000, respectively.

Meanwhile, Minister of Housing and Urban Development, Arc. Musa Dangiwa, expressed concern over the significant increase in cement prices and other building materials nationwide. He emphasized that the surge in prices was unacceptable, attributing it to factors beyond fluctuating exchange rates.

The Cement Producers Association of Nigeria had previously cautioned that the Federal Government’s plan to introduce concrete roads could further hike cement prices to N9,000 per bag over a five-month period.

These developments occur against the backdrop of Nigeria’s escalating inflation rate, which the National Bureau of Statistics reported to have reached 29.90 per cent in January.

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