Business
New Cement Prices In Nigeria Revealed
By Benjamin Abioye

As of January 17, 2025, cement prices in Nigeria have risen significantly due to various factors, including inflation, production costs, and currency depreciation. Here’s a detailed look at the situation:
Current Cement Prices in Nigeria
Cement prices now vary by brand, as shown below:
Dangote Cement: ₦9,900 – ₦10,500 (retail), ₦5,940,000 – ₦6,300,000 (wholesale for 600 bags)
BUA Cement: ₦8,000 – ₦11,000 (retail), ₦4,800,000 – ₦6,600,000 (wholesale)
Lafarge Cement: ₦9,100 – ₦10,500 (retail), ₦5,460,000 – ₦6,300,000 (wholesale)
UNICEM Cement: ₦11,500 – ₦13,500 (retail), ₦6,900,000 – ₦8,100,000 (wholesale)
Beto Cement: ₦9,500 – ₦10,500 (retail), ₦5,700,000 – ₦6,300,000 (wholesale)
Reasons for Price Hikes
Several factors have been driving the increase in cement prices:
Inflation: Rising inflation has significantly raised the costs of production and distribution, which are passed on to consumers.
Currency Depreciation: The weakening of the Naira against foreign currencies has increased the costs of importing raw materials and production equipment.
Production Costs: Higher expenses for energy, transportation, and equipment maintenance have also contributed to the price surge.
Regional Variations
Cement prices differ across Nigeria due to transportation costs, demand, and supply variations. For example, Lagos and other high-demand areas often experience higher prices compared to other regions. Consumers are encouraged to verify prices with local suppliers for the most accurate rates.
Calls for Industry Expansion
Stakeholders have called on the government to encourage the entry of more manufacturers into the cement industry. This move could enhance competition and potentially bring down prices.
Market Trends
The stock market has also seen shifts related to the cement industry. For instance, profit-taking activities in companies like Dangote Cement Plc have influenced market capitalization and investor confidence.
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