Cement Prices Skyrocket in Abuja Amid Economic Challenges

The cost of cement has surged significantly within the FCT, with a 50-kilogram bag now fetching between N10,000 and N15,000 respectively.

A recent market survey conducted in various areas of Abuja, including Gwarimpa, Area 10, Kubwa, Lugbe, and Dawaki, revealed the stark increase in cement prices. Retailers reported that a 50kg bag of Dangote cement is being sold for N10,000, while BUA cement commands a higher price of N15,000.

Yinka Adebayo, a retailer in Gwarimpa, lamented the drastic price hike, recalling that just a year ago, he was selling a bag of cement for N6,000. Now, the same bag fetches double that amount.

Similarly, Rukiyat Abdullahi, another retailer in Kubwa, echoed Adebayo’s sentiments, stating that Dangote cement now sells for N10,200, while BUA cement is priced at N16,000 per bag.

In Lugbe, retailers confirmed that Dangote and BUA cement prices stand at N10,000 and N15,000, respectively.

The surge in cement prices has drawn criticism from various quarters, including the Minister of Housing and Urban Development, Arc. Musa Dangiwa. He decried the astronomical rise, emphasizing that blaming fluctuations in the dollar exchange rate is unjustifiable.

This development comes amidst ongoing economic challenges and a persistent increase in Nigeria’s inflation rate. According to the National Bureau of Statistics, inflation soared to 29.90 percent in January, further exacerbating the financial strain on citizens.

Source: Dailypostng
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