Cement prices in Nigeria have surged to N13,000 per 50kg bag, raising concerns in the construction sector. Dealers express frustration over frequent price changes disrupting businesses and affecting customers' financial plans. Experts urge the government to license more importers to foster competition and mitigate rising costs.
Price Hike Across Nigeria
The latest increase follows adjustments by major manufacturers like Dangote Cement and BUA Cement. A few weeks ago, cement sold for around N12,000 per bag, but now it has reached N13,000 in many markets nationwide. Builders, contractors, and landlords are struggling to cope with the rising costs.
Dealers Lament Frequent Changes
Dealers report that constant price adjustments disrupt operations and frustrate customers. One dealer recounted booking 50 bags in January at N11,000 per bag, only to be told later that he must pay the new rate of N13,000 before collection. This forced him to seek additional funds.
Experts Call for More Import Licenses
Financial expert Osas Igho stated that Nigerians should not be at the mercy of a few manufacturers who control pricing. He urged the government to grant new import licenses to create competition and force local producers to lower prices.
Potential Rent Hikes
Igho warned that rising cement costs may trigger rent increases as landlords offset higher repair and renovation expenses. He added that home ownership could become more difficult for average citizens, worsening Nigeria's housing crisis.
Current Prices Nationwide
A market survey in Kwara, FCT, Kano, Kaduna, and Jigawa shows cement prices ranging from N10,500 to N11,000 per bag, depending on brand and location. In Ilorin, prices rose from N9,300–N9,700 in January to N10,500–N10,700 now.
