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Cement Chaos: Dangote, BUA Prices Climb – Here’s The Latest Update This Week

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1 year ago

February 7, 2025

Ireporteronline

Cement Chaos: Dangote, BUA Prices Climb – Here’s The Latest Update This Week

As of February 7, 2025, Nigeria is witnessing significant fluctuations in cement prices, driven by inflation, rising production costs, and currency depreciation. Here’s an overview of the current market rates for major cement brands:.……READ MORE

Current Cement Prices in Nigeria:

Cement Brand	Retail Price per 50kg Bag (₦)	Wholesale Price for 600 Bags (₦)
Dangote Cement	₦9,900 – ₦10,500	₦5,940,000 – ₦6,300,000
BUA Cement	₦8,000 – ₦11,000	₦4,800,000 – ₦6,600,000
Lafarge Cement	₦9,100 – ₦10,500	₦5,460,000 – ₦6,300,000
UNICEM Cement	₦11,500 – ₦13,500	₦6,900,000 – ₦8,100,000
Ibeto Cement	₦9,500 – ₦10,500	₦5,700,000 – ₦6,300,000

Factors Driving Cement Price Increases:

Inflation: Rising inflation rates have led to higher production and distribution expenses, inflating cement prices nationwide.
Currency Depreciation: The weakening of the Naira against foreign currencies has increased the cost of importing raw materials and machinery essential for cement production.
Production Costs: Increased energy prices, transportation fees, and maintenance costs have further escalated the cost of manufacturing cement.
Regional Variations: Prices differ across regions, with cities like Lagos experiencing higher costs due to elevated demand and transportation expenses.
Market Dynamics: Industry stakeholders urge the government to encourage more cement manufacturers to enter the market, promoting competition that could stabilize or reduce prices. Recent fluctuations in the stock market, particularly involving companies like Dangote Cement Plc, have also influenced investor confidence and market pricing.