In the midst of a brewing storm over cement prices, a comprehensive investigation has uncovered the full price list of cement produced by major manufacturers in the country, including BUA, Dangote, Lafarge, Ibeto, and others.
The Federal Government has recently issued a stern warning, threatening to open borders if cement manufacturers fail to comply with the agreed price reduction, highlighting the urgency of the situation.
Initially, major cement producers, including Dangote, Lafarge, BUA, and others, had reached an agreement to sell a 50kg bag of cement within the price range of N7,000 to N8,000. This agreement was brokered at a meeting initiated by the Minister of Works, David Umahi.
However, despite the consensus reached, reports have surfaced indicating that retailers are still selling cement at exorbitant prices, reaching as high as N10,000 and N11,000 in certain areas, such as the Idimu area of Lagos state.
A recent survey conducted by The Nation and Legit further confirms that the agreed-upon prices have yet to be implemented, with traders admitting to purchasing cement at prices exceeding N7,000.
Here is the current market price breakdown of cement, based on the survey carried out:
With the disparity between agreed-upon prices and actual market rates, consumers are left grappling with inflated costs, prompting calls for urgent intervention to address the situation and ensure affordability and accessibility of cement across the nation.
