The price of a 50 kg bag of cement in the Federal Capital Territory has increased to between N10,000 and N15,000.
According to DAILY POST, a survey carried out in Gwarimpa, Area 10, Kubwa, Lugbe, and Dawaki on Friday showed that the price of a 50 kg bag of Dangote cement is N10,000, while the price of BUA cement is N15,000.
A Gwarimpa shopkeeper, Yinka Adebayo, stated that BUA cement costs N15,000 whereas Dangote cement costs N10,000.
In January 2023, he claimed to have sold a bag of cement for N6,000 which is way much more than it costs now.
He said, “We charge N10,000 per bag of Dangote cement and N15,000 for BUA. You’ll be surprised to learn that last month I sold the identical bag of cement for between N5,500 and N6000.”
Similarly, a Kubwa trader, Rukiyat Abdullahi claimed that BUA cement costs N16,000 while Dangote cement costs N10,200.
She said “Dangote is now N10,200 while BUA goes for N16,000 per bag.”
The retailers at Lugbe verified that the pricing of cement at Dangote and BUA are N10,000 and N15,000, respectively.
Minister of Housing and Urban Development, Arc. Musa Dangiwa, bemoaned the nation’s building materials’ skyrocketing prices.
He claimed that “the dollar’s fluctuating exchange rate could not be held responsible and declared the price increase to be intolerable”.
The Cement Producers Association of Nigeria had been warning for more than five months that the Federal Government’s intention to install concrete roads may drive up the cost of cement to N9,000 per bag.
The event occurs as Nigeria’s inflation rate continues to climb. According to the National Bureau of Statistics’ January Consumer Price Index report, inflation shot up to 29.90%.
