Cement prices in the Federal Capital Territory have witnessed a significant increase, causing concerns among consumers and stakeholders.
A market survey conducted by DAILY POST on Friday in various locations, including Gwarimpa, Area 10, Kubwa, Lugbe, and Dawaki, revealed a sharp increase in the cost of cement.
As per the survey, a 50-kilogram bag of Dangote cement is currently priced at N10,000, while BUA cement is being sold at N15,000.
This represents a substantial escalation compared to the prices in January 2023 when a bag of cement was reportedly sold for N6,000.
Yinka Adebayo, a retailer in Gwarimpa, expressed concern over the rapid price hike, stating that Dangote cement now costs N10,000 per bag, and BUA is priced at N15,000.
He emphasized that the same bag of cement was sold for N5,500 to N6,000 just last month.
“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.
Rukiyat Abdullahi, another retailer in Kubwa, confirmed the escalating prices, citing Dangote cement at N10,200 and BUA at N16,000 per bag.
At Lugbe, retailers concurred with the prevailing trend, indicating that Dangote and BUA cement prices stand at N10,000 and N15,000, respectively.
The surge in cement prices has raised concerns among consumers and industry stakeholders.
The Minister of Housing and Urban Development, Arc. Musa Dangiwa, recently decried the astronomical rise and deemed it unacceptable.
He also rejected the notion that fluctuations in the exchange rate of the dollar were solely responsible for the price hike.
Recall that the Cement Producers Association of Nigeria had previously cautioned that the government’s plan to introduce concrete roads could lead to an increase in cement prices to N9,000 per bag.