Cement price surges to N15,000 in Abuja

According to ZINGTIE, the price of a 50 kg bag of cement in the Federal Capital Territory has increased to between N10,000 and N15,000.

In Gwarimpa, Area 10, Kubwa, Lugbe, and Dawaki, a market study carried out by ZINGTIE on Friday revealed that the price of a 50 kg bag of Dangote cement is N10,000, while other rivals’ cement is priced at N15,000.

Yinka Adebayo, a Gwarimpa shopkeeper, claimed that Dangote cement costs N10,000 while a rival brand costs N15,000.

In January 2023, he claimed to have sold a bag of cement for N6,000.

“We sell Dangote cement at N10,000 per bag, and another is N15,000. Unfortunately, it will surprise you that I sold the same bag of cement, N5,500 to N6000, last month,” he said.

In the same vein, Kubwa trader Rukiyat Abdullahi claimed that Dangote cement costs N10,200, while another brand costs N16,000.

She said to ZINGTIE on Friday, “Dangote is now N10,200 while its competitors goes for N16,000 per bag.”

The shops at Lugbe verified to ZINGTIE that the pricing of Dangote and other cement are N10,000 and N15,000, respectively.

Minister of Housing and Urban Development Arc. Musa Dangiwa, in the meantime, lamented the skyrocketing prices of the nation’s building materials.

He claimed that the dollar’s fluctuating exchange rate could not be held responsible and declared the price increase to be intolerable.

Remember that the Cement Producers Association of Nigeria had been warning for more than five months that the Federal Government’s intention to install concrete roads may drive up the cost of cement to N9,000 per bag.

The event occurs as Nigeria’s inflation rate continues to climb. According to the National Bureau of Statistics’ January Consumer Price Index report, inflation shot up to 29.90%.

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