In a bid to address the soaring cement prices in Nigeria, major cement manufacturers, including Dangote Cement, BUA Cement, and Lafarge Africa, recently agreed to slash prices by approximately 50%. This decision came after a meeting convened by the Minister of Industry, Trade, and Investment, Uzoka-Anite, which was attended by the Minister of Works, David Umahi. However, despite the agreement, cement prices in the country remain exorbitant, ranging from N10,000 to N14,000 per bag.
Despite the concerted efforts by the federal government to intervene in the situation, there has been no noticeable change in cement prices on the ground. Despite assurances from officials, a bag of cement still commands a high price, leaving consumers frustrated.
David Iweta, the national chairman of the Cement Producers’ Association of Nigeria (CEPAN), attributed the persistent rise in cement prices to the persistent demand surpassing supply. He expressed optimism that with better cooperation between the government and stakeholders, there could be a significant reduction in prices within 30 days. Additionally, he cited foreign exchange rates as another contributing factor to the high prices.
According to recent reports, the prices of cement by various producers stand as follows: Dangote Cement sells for N11,000 to N13,000 per bag, BUA Cement ranges from N10,000 to N12,000, Lafarge Africa sells for N13,000 to N14,000, Ibeto Cement ranges from N10,000 to N12,500, and UNICEM sells for N11,000 to N13,000 per bag.
In a notable incident, a customer in Kaduna State reported purchasing cement for N8,200 per bag. However, shortly after leaving the shop, he received a call from the seller informing him of a price reduction to N7,800 per bag. The customer, Ahmad Kargi, was pleasantly surprised when the seller refunded him N400, demonstrating a rare act of integrity in the midst of soaring prices.
Despite such gestures, consumers are eagerly awaiting concrete actions from authorities and manufacturers to alleviate the burden of high cement prices, which have persisted despite promises of reduction.
