Nigeria: Lagos sees cement prices rise over last week

Nigeria: Lagos sees cement prices rise over last week
05 February 2008

Prices of cement have notably increased in the Lagos market, according to a survey by Daily Trust market over the past week.

This may not be unconnected to the granting of provisional license to some cement manufacturers and stakeholders for importation of bulk cement towards bagging it in the country, this paper has learnt.

Before the announcement by the Federal Government through the Ministry of Commerce and Industry, prices of bagged cement, (Dangote Cement and the West Africa Portland Cement) range between N1,350 and N1,200.

Few days ago the major ingredient in building a house experienced short in supply and subsequent price increase. It now goes for between N1,400 and N1,550 in the market.

Dozens of cement retailers has been complaining of inability to get their normal supply from the major distributors owing to shortfall in the supply.

Mrs. Adunni Akomolafe who trades in the market of Abule-Egba, in the outskirt of Lagos, complained that the shortage in supply coupled with the information that spread among the traders that the Federal Government has lifted the ban on importation of cement may responsible for the sudden increase in prices. Published under Cement News