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Latest Cement Price Update in Nigeria as of Today, 17th May 2024

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Latest Cement Price Update in Nigeria as of Today, 17th May 2024

Cement Prices in Nigeria Today: 17th May 2024

As of today, 17th May 2024, we provide you with the latest updates on cement prices in Nigeria from various manufacturers. Despite efforts from the Federal Government and cement manufacturers to stabilize prices, the cost of cement remains high across the country. Below, we detail the current prices from leading manufacturers and retailers.

Federal Government and Cement Manufacturers’ Agreement

Recently, under President Bola Ahmed Tinubu, the Federal Government reached an agreement with major cement manufacturers, including Dangote Cement, BUA Cement, Lafarge, Ibeto, and others. The aim was to stabilize the market and make cement more affordable for Nigerians. The agreement set a target price range of ₦7,000 to ₦8,000 per 50kg bag.

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However, market conditions and non-compliance by some retailers have led to prices exceeding this range.

READ ALSO: Cement Price in Nigeria as of Today 16th May 2024

Current Cement Prices in Nigeria

Based on our latest market research, here are the current prices of cement from various manufacturers:

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  • Dangote Cement: ₦7,000 to ₦8,000 per 50kg bag, depending on location.
  • BUA Cement: ₦6,700 to ₦8,000 per 50kg bag.
  • Ibeto Cement: ₦8,500 to ₦9,500 per 50kg bag.
  • Lafarge Cement: ₦7,950 to ₦9,500 per 50kg bag.
  • UNICEM Cement: ₦8,000 to ₦9,000 per 50kg bag, depending on location.
  • POP Cement: ₦9,100 per 50kg bag.

Market Dynamics and Compliance Issues

Despite the agreement, many cement retailers continue to sell at higher prices, ranging from ₦7,000 to ₦9,500 per 50kg bag. This non-compliance has led to ongoing price volatility and consumer dissatisfaction.

Conclusion

Staying informed about the latest cement prices is crucial for both buyers and industry stakeholders. Despite efforts to control prices, the market remains volatile. We will continue to monitor and provide updates on cement prices to help you make informed decisions.

Always refer to reputable sources and conduct your market research for the most accurate and up-to-date information.

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