The prices of major cement brands in Nigeria, including Dangote Cement, BUA Cement, Lafarge Cement, and Mangal Cement, have continued to rise steadily in recent weeks, causing concern among builders, contractors, and business owners in the construction sector.
Market checks by Naija News revealed that cement prices now range between ₦11,800 and ₦12,000 per 50kg bag across several markets, with traders lamenting the absence of a stable pricing structure.full, details. .
Construction stakeholders say the frequent increases have negatively affected their operations and slowed building projects across the country.
Many contractors also noted that rising cement prices have increased the overall cost of building materials, forcing some developers to suspend projects.
Factors Driving The Price Increase
Industry stakeholders attributed the rising price of cement to several economic and production-related factors.
1. High energy costs:
Cement production relies heavily on gas, diesel, and electricity. Rising energy prices have significantly increased production costs for manufacturers.
2. Transportation and logistics costs:
Increased fuel prices and poor road infrastructure have pushed up transportation costs for cement distribution across the country.
3. Exchange rate volatility:
Many production inputs, spare parts, and machinery used in cement plants are imported, making the industry sensitive to fluctuations in the naira.
4. Increased demand in the construction sector:
Ongoing housing projects, infrastructure development, and private building activities have raised demand for cement.
5. Inflation and operational costs:
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General inflation has increased labour, maintenance, and operational costs for manufacturers and distributors.
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