The price of a 50-kilogram bag of cement in the Federal Capital Territory, Abuja has escalated to between N10,000 and N15,000.
A recent market survey carried out by DAILY POST on Friday across Gwarimpa, Area 10, Kubwa, Lugbe, and Dawaki revealed that Dangote cement is priced at N10,000 per 50kg bag, while BUA cement is at N15,000.
Yinka Adebayo, a retailer in Gwarimpa, stated that the current price of Dangote cement is N10,000, and that of BUA cement is N15,000.
He mentioned that he was selling a bag of cement for N6,000 back 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.
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Also, Rukiyat Abdullahi, a retailer in Kubwa, noted that 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 told DAILY POST on Friday.
In Lugbe, retailers confirmed to DAILY POST that Dangote cement is priced at N10,000 while BUA cement is priced at N15,000.
In the midst of this, Minister of Housing and Urban Development, Arc. Musa Dangiwa, expressed concern over the steep increase in cement prices and other building materials nationwide.
He criticized the unacceptable price hike and rejected the notion that fluctuations in the dollar’s exchange rate were solely responsible.
It’s worth noting that the Cement Producers Association of Nigeria had previously warned that the Federal Government’s plan to introduce concrete roads could push cement prices up to N9,000 per bag, a caution issued over five months ago.
These developments coincide with Nigeria’s persistent inflationary trend.
According to the National Bureau of Statistics’ Consumer Price Index report for January, inflation has reached a staggering 29.90 per cent. #Abuja