Nigerian cement prices up 25 per cent
As the dry season peaks, signalling another spell of increased construction activities, the price of cement in Nigeria has risen 25 per cent in one month from NGN1750/50kg bag in November to NGN2200.
In Lagos and neighbouring towns in Ogun State, where the construction of housing has witnessed unprecedented growth in recent years, Dangote’s Obajana brand sells for NGN2100/bag while imported brands sell for NGN2200.
In May last year, cement prices rose to NGN2900/bag prompting Nigerian president Goodluck to issue a directive requesting producers cut prices. Accordingly, Dangote reduced its wholsale prices from NGN1380 to NGN1350. Other local producers and importers also followed suit which resulted in retail prices stabilising at NGN1750-1800/bag.
Source: The Leadership, Nigeria