As of February 7, 2025, cement prices in Nigeria have been experiencing notable fluctuations, influenced by factors such as inflation, rising production costs, and the depreciation of the naira......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
Current Cement Prices in Nigeria
Below is an overview of the prevailing market prices for major cement brands:
| Cement Brand | Retail Price per 50kg Bag (₦) | Wholesale Price for 600 Bags (₦) |
|---|---|---|
| Dangote Cement | ₦9,900 – ₦10,500 | ₦5,940,000 – ₦6,300,000 |
| BUA Cement | ₦8,000 – ₦11,000 | ₦4,800,000 – ₦6,600,000 |
| Lafarge Cement | ₦9,100 – ₦10,500 | ₦5,460,000 – ₦6,300,000 |
| UNICEM Cement | ₦11,500 – ₦13,500 | ₦6,900,000 – ₦8,100,000 |
| Ibeto Cement | ₦9,500 – ₦10,500 | ₦5,700,000 – ₦6,300,000 |
Key Factors Driving Cement Price Increases
- Inflation and Economic Conditions
Nigeria’s rising inflation has led to increased costs in production and distribution, directly impacting cement prices. - Currency Depreciation
The weakening naira has escalated the cost of importing raw materials and machinery essential for cement manufacturing, further pushing up prices. - Production Costs
High energy prices, expensive transportation, and increased maintenance costs have significantly contributed to the overall rise in cement prices. - Regional Price Variations
Cement prices are not uniform across the country. Locations with higher demand, such as Lagos and Abuja, often experience steeper prices compared to less populated regions. Transportation and logistics costs also play a crucial role in regional price differences. - Market Competition and Supply Chain Issues
The Nigerian government has been urged to encourage more players in the cement industry to foster competition, which could lead to more competitive pricing. Additionally, activities in the stock market, including investor sentiment toward major cement producers like Dangote Cement Plc, have had indirect effects on cement pricing trends.
Looking Ahead
The cement industry in Nigeria remains heavily influenced by economic policies, supply chain dynamics, and government intervention. As inflation and currency challenges persist, industry stakeholders are calling for measures to stabilize the market, including policies to improve local production capacity and reduce reliance on imported raw materials.
For the most accurate and location-specific prices, buyers are advised to check with local suppliers, as cement costs can vary depending on logistics and regional demand.