According to media reports, in the Federal Capital Territory, the price of a 50-kilogram bag of cement has skyrocketed to between N10,000 and N15,000.
A market survey conducted on Friday in Gwarimpa, Area 10, Kubwa, Lugbe and Dawaki showed that a 50kg bag of Dangote cement is N10,000 and BUA cement stood at N15,000.
A retailer in Gwarimpa, Yinka Adebayo, said that the price of Dangote cement is N10,000 while that of BUA is N15,000.
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He said he sold a bag of cement for N6,000 in January 2023.
“We sell Dangote cement at N10,000 per bag, and BUA is N15,000. Unfortunately, it will surprise you that I sold the same bag of cement, N5,500 to N6000, last month,”he said.
Similarly, Rukiyat Abdullahi, a retailer in Kubwa, said Dangote cement is sold for N10,200 while BUA goes for N16,000.
“Dangote is now N10,200 while BUA goes for N16,000 per bag”, she said on Friday.
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At Lugbe, the retailers confirmed that Dangote and BUA cement prices are N10,000 and N15,000, respectively.
Meanwhile, Minister of Housing and Urban Development, Arc. Musa Dangiwa decried the astronomical rise in the price of cement and other building materials across the country.
He said the price hike was unacceptable and insisted the fluctuation in the exchange rate of the dollar could not be blamed.
Recall that for more than five months, the Cement Producers Association of Nigeria cautioned that the Federal Government’s plan to introduce concrete roads could increase cement prices to N9,000 per bag.
The development comes amid a continued soar in Nigeria’s inflation. The National Bureau of Statistics, in its Consumer Price Index report for January, said inflation soared to 29.90 per cent.
Photo Credit: Getty
