Cement bag now cost N15,000 in Federal Capital Territory

Cement bags weighing fifty kilograms now cost between N10,000 and N15,000 in the Federal Capital Territory.

A market survey carried out on Friday in Gwarimpa, Area 10, Kubwa, Lugbe, and Dawaki revealed that BUA cement cost N15,000 and Dangote cement cost N10,000 for a 50kg bag.

According to Yinka Adebayo, a retailer in Gwarimpa, Dangote cement costs N10,000 while BUA costs N15,000.

He claimed to have made N6,000 in January 2023 off of a bag of cement.

“BUA is N15,000, and we sell Dangote cement for N10,000 per bag. Sadly, you’ll be surprised to learn that I made between N5,500 and N6000 last month selling the same bag of cement,” he said.

Rukiyat Abdullahi, a Kubwa retailer, also mentioned that BUA costs N16,000 while Dangote cement costs N10,200.

On Friday, she disclosed, “Dangote is now N10,200 while BUA goes for N16,000 per bag.”

Dangote and BUA cement prices at Lugbe are N10,000 and N15,000, respectively, as the retailers confirmed.

Arc. Musa Dangiwa, Minister of Housing and Urban Development, lamented the nation’s building materials’ ridiculous price increases while this was going on.

He declared that the price increase was intolerable and maintained that the dollar’s fluctuating exchange rate was not to blame.

Remember that for over five months, the Cement Producers Association of Nigeria issued advisories threatening to drive up cement prices to N9,000 per bag due to the Federal Government’s intention to install concrete roads.

This development coincides with Nigeria’s inflation rate continuing to rise. Inflation surged to 29.90%, according to the National Bureau of Statistics’ January Consumer Price Index report.