FLASH SALES

Cement Prices Skyrocket in Abuja, Reaching N15,000 per Bag

Medinat
By Medinat - Editor
Cement Prices Skyrocket in Abuja, Reaching N15,000 per Bag

Reports from the Federal Capital Territory indicate a significant surge in the price of cement, with a 50-kilogram bag now fetching between N10,000 and N15,000. A market survey conducted by DAILY POST across various areas including Gwarimpa, Area 10, Kubwa, Lugbe, and Dawaki revealed that Dangote cement is being sold at N10,000 per bag, while BUA cement commands a price of N15,000.

Yinka Adebayo, a retailer in Gwarimpa, lamented the drastic price increase, noting that just a year ago, he was selling a bag of cement for N6,000. He highlighted the current prices of Dangote and BUA cement at N10,000 and N15,000 respectively.

Similarly, Rukiyat Abdullahi, a retailer in Kubwa, confirmed the steep rise, citing prices of Dangote cement at N10,200 and BUA cement at N16,000 per bag.

Retailers in Lugbe echoed similar sentiments, with Dangote and BUA cement priced at N10,000 and N15,000 respectively.

Arc. Musa Dangiwa, the Minister of Housing and Urban Development, expressed concern over the exorbitant increase in cement prices nationwide. He emphasized that blaming the fluctuation in the exchange rate of the dollar for the price hike is unacceptable.

This surge in cement prices follows warnings from the Cement Producers Association of Nigeria about potential increases to N9,000 per bag due to the government’s plans to introduce concrete roads.

These developments occur against the backdrop of Nigeria’s persistent inflation, with the National Bureau of Statistics reporting a staggering inflation rate of 29.90 percent in its Consumer Price Index report for January.

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