In the fast-paced realm of construction materials, understanding the current market prices for essential commodities like cement is crucial. Today, we bring you an in-depth exploration of the latest pricing updates from major players in the industry, including Dangote, BUA, and Lafarge.
Contents
Federal Government’s Warning Sparks Controversy
Recently, there’s been a surge in controversy regarding the pricing of cement, as the Federal Government issued a stern warning. A recent article by Justina Otio shed light on the government’s threat to open borders if cement manufacturers refuse to reduce their prices.
Unveiling the Agreement: Cement Producers Commit to Affordable Pricing
In response to the government’s concerns, major cement producers, including Dangote, Lafarge, and BUA, had reached a consensus to sell a 50kg bag of cement within the price range of N7,000 to N8,000. This pivotal agreement materialized during a meeting convened by the Minister of Works, David Umahi.
Reality Check: Prices Soar Despite the Accord
Despite the agreed-upon pricing, recent investigations have exposed a disconcerting reality. The Nation’s reports reveal that cement is still being sold at exorbitant rates, reaching as high as N10,000 and N11,000 in the Idimu area of Lagos state.
The Persistent Challenge: Prices Remain Unchanged
Contrary to expectations, a survey conducted by Legit indicates that the initially agreed-upon prices are yet to be enforced. A trader named Kunle, quoted in the publication, shared his experience, stating that he continues to purchase cement at prices exceeding N7,000.
Kunle emphasized, “All the talk about N7,000 is just in the media; I still buy from my suppliers at above N7,000.”
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Current Market Prices: A Comprehensive Overview
Let’s delve into the current market prices obtained from a recent survey:
Dangote Cement Plc – N11,000 to N12,500
Dangote Cement, a heavyweight in the industry, is presently priced between N11,000 and N12,500 per 50kg bag.
Lafarge Africa Plc – N12,000 to N14,000
Lafarge Africa Plc, another prominent player, reflects pricing ranging from N12,000 to N14,000.
BUA Cement– N10,000 and N11,000
BUA Cement, known for its quality, maintains a pricing spectrum between N10,000 and N11,000.
UNICEM Cement – N12,000 to N14,000
UNICEM Cement is positioned in the market with prices oscillating between N12,000 and N14,000.
In conclusion, the cement industry’s pricing dynamics continue to elicit concern, with discrepancies between agreed-upon rates and actual market prices. Stay informed as we keep you updated on the evolving landscape of cement pricing in Nigeria.
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