In the latest development, Cement has become the biggest thing that every Nigerian will make use of for their completion of building and other forms of aspect. The price for the Dangote and BUA cement manufacturers has now continued to keep going despite the government’s effort to reduce the price.
As of Today, 9th April 2024, the Cement price for the cement manufacturers has continued to look the same without any reduction after FG intervention in the industry.
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Cement Price in Nigeria as of Today 9th April 2024
- Dangote Cement ₦6,000 – ₦8,500
- BUA Cement ₦5,000– ₦8,000
Reason for Cement Price Hike
- The Biggest reason for the cement price in Nigeria has occurred due to the increase in the demand for the cement which caused the rise globally due to the COVID-19 pandemic.
- Another reason for the cement price is the inflation in everything which causes the general inflation in every aspect of sector and industry.
- Finally, the Federal government’s move to introduce concrete roads has also been blamed for the cement price soaring in Nigeira which leads the Cement Producers Association of Nigeria (CPAN) to show their concerned and vow to increase the cement price to N9,000 per bag.
Read Also: Dollar to Naira Black Market Exchange Rate Today 4th May 2024
Ways To Tackle Cement Price Hike
- The decrease in demand must be made in other to reduce the cement price hike
- The Government must open land borders to allow foreign countries to supply Nigeria with cement in abroad.
- The federal government must make sure they improve transportation infrastructure by coming up with a way to reduce the fuel price or the transportation cost.
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Federal government should fixed price for cement, fuel and rice then any of them ingnor the fixed should pay fine. Thanks