Dangote, BUA, Lafarge, and other major cement manufacturers recently agreed to reduce the price of cement by 50%. The minister of works, David Umahi, attended the meeting initiated by the Minister of Industry, Trade, and Investment, Uzoka-Anite, in Abuja on Monday, February 19, 2024.
The meeting was convened in response to a nationwide outcry against the sharp rise in the price of cement.
Despite the meeting, there have been no changes, as a bag of cement still sells for between N10,000 and N14,000, depending on the manufacturer.
Legit.ng reported that David Iweta, the national chairman of the Cement Producers’ Association of Nigeria(CEPAN), said the continuous rise in cement prices results from demand outweighing supply.
He stated that a better understanding with the federal government could reduce cement prices within 30 days.
He further attributed foreign exchange rates as a contributing factor.
According to Vanguard reports,
here are the recent cement prices by producers.
Cement producers Prices;
Dangote N11,000 to N13,000
BUA N10,000 – N12,000
Lafarge N13,000 – N14,000
Ibeto N10,000 – N12,500
UNICEM N11,000 – N13,000.
