Nigeria: cement price rises 20% to N1,900 in two months

Nigeria: cement price rises 20% to N1,900 in two months
Published: 27 May 2008

The price of cement in Nigeria has risen by 20 per cent in the past two months in spite of government lifting the ban on imports.

Cement price dropped significantly from N2000 and N25000 in January/February to N1, 500 in March and early April, according to a Business Day of Nigeria survey.

But a fresh survey conducted weekend revealed that a bag of cement, which sold for between N1500 and N1600 last week in Lagos has risen to between N1700 and N1800.

In the Federal Capital Territory and Niger State, a 50-kilogram bag of cement now sells for N1900, which is also the prevailing price in Bwari, Kubwa, Karu, Piwoyi as well as Suleja ( Niger State). Only last week, the commodity went for N1650 in Suleja.

In Ibadan and Port Harcourt, the price of the commodity is relatively stable at N1700 and N1500, respectively.