The cost of cement in Nigeria continues its upward trajectory, with prices soaring to unprecedented levels across major cities. Recent market surveys reveal a significant surge in cement prices, posing challenges to the construction industry and homeowners alike.
In Abuja’s Kubwa area, Dangote cement now commands prices ranging from N8,600 to N9,600 per 50-kilogram bag, while BUA cement is priced between N8,500 and N9,500. Similarly, in Sokoto, Dangote cement is being sold for N9,200, with BUA priced at N8,650. Ilorin residents are also feeling the strain, with BUA cement priced at N8,700 and Dangote at N9,000.
The Minister of Housing and Urban Development, Ahmed Dangiwa, has expressed concern over the relentless surge in cement prices. He has announced plans to engage cement manufacturers to address the underlying issues contributing to the price hikes. Despite Nigeria’s abundant raw materials for cement production, including limestone, clay, silica sand, and gypsum, consumers are grappling with exorbitant prices.
READ ALSO: Latest Update On New Cement Price Increase On 16th February 2024
Dangiwa’s commitment to fostering affordable housing initiatives underscores the government’s dedication to providing shelter for low- and medium-income earners. As stakeholders await the outcome of discussions between the government and cement manufacturers, the pressing need to stabilize cement prices remains paramount for the country’s construction sector.
The skyrocketing cost of cement underscores broader economic challenges, including inflationary pressures and supply chain disruptions. As Nigeria navigates these complexities, stakeholders across the construction industry are eagerly anticipating sustainable solutions to alleviate the burden on consumers and promote growth in the housing sector.
In conclusion, the latest cement price update reflects the urgent need for collaborative efforts between the government, industry players, and stakeholders to address the root causes of price escalations and ensure a more stable and affordable market for essential building materials.
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