The Digest:
Cement prices have surged to between N10,500 and N11,000 per bag across Nigeria, leaving builders, block makers, and households struggling with soaring construction costs. Market surveys in Kwara, Abuja, Kano, Kaduna, Jigawa, and Lagos show major brands, Dangote, BUA, Lafarge, and Mangal, now retail at N10,500–N11,200, up from N9,300–N9,700 last month. In Lagos, sellers blame dealers and middlemen for arbitrary markups, with one seller stating: "We buy from middle men, not manufacturers. They inflate prices." In Kano, dealers report manufacturers supplying at N10,450–N10,550, pushing retail to N11,000. Block makers have already increased prices, with nine-inch blocks rising from N750 to N800. Stakeholders express concern over cross-border price differences, with Nigerian cement reportedly cheaper in Niger Republic at about N7,500 per bag. Former Nigerian Institute of Builders President Kunle Awobodu called for government intervention, warning the hikes will reduce housing construction.
Key Points:
- The price surge severely impacts housing affordability and construction projects.
- It adds to inflationary pressures on households already struggling with living costs.
- Builders and consumers bear burden, while manufacturers cite dollar costs.
- This signals potential slowdown in construction sector activity.
- The timing, with cross-border price disparities, fuels public anger.
Sources: Daily Trust, Nigerian Institute of Builders
