Price Of Bag Of Dangote, BUA, Other Cement This Week

As of January 17, 2025, the cement price in Nigeria has seen a significant increase, influenced by factors such as inflation, production costs, and currency fluctuations. Below is an overview of the current prices for major cement brands:

Current Cement Prices in Nigeria:

Cement Brand| Retail Price per 50kg Bag (₦)| Wholesale Price for 600 Bags (₦)

Dangote Cement | 9,900 – 10,500 | 5,940,000 – 6,300,000 |

BUA Cement | 8,000 – 11,000 | 4,800,000 – 6,600,000 |

Lafarge Cement | 9,100 – 10,500 | 5,460,000 – 6,300,000 |

UNICEM Cement | 11,500 – 13,500 | 6,900,000 – 8,100,000 |

Ibeto Cement | 9,500 – 10,500 | 5,700,000 – 6,300,000 |

Factors Influencing Cement Prices:

– Inflation: The rising inflation rate in Nigeria has contributed to increased production and distribution costs, leading to higher cement prices.

– Currency Fluctuations: The depreciation of the Naira against major currencies has escalated the cost of importing raw materials and machinery necessary for cement production.

– Production Costs: Elevated expenses related to energy, transportation, and maintenance have further driven up the cost of cement manufacturing.

Regional Price Variations:

Cement prices are not uniform across Nigeria; they vary based on location due to factors like transportation costs and demand. For instance, prices in Lagos and other high-demand areas may be higher compared to other regions. It’s advisable to check with local suppliers for the most accurate pricing in your area.

Market Dynamics:

The Nigerian government has been urged to encourage more manufacturers of cement to enter the market to foster competition and potentially reduce prices. Additionally, recent activities in the stock market, such as profit-taking in major cement companies like Dangote Cement Plc, have influenced market capitalization and investor sentiment.