The Digest:
Major cement producers in Nigeria, including Dangote and BUA, have raised the price of a 50kg bag to approximately N10,500, an increase from around N9,800 in December 2025. According to a DAILY POST report, this hike occurs despite previous assurances from industry stakeholders to cap prices at N7,000. The former President of the Real Estate Developers Association of Nigeria (REDAN), Aliyu Oroji Wamakko, warned that the surge threatens property development, will increase rents, and could lead to job losses within the construction value chain.
Key Points:
- The price hike directly increases the cost of building and home repairs for Nigerians, affecting affordability.
- It will escalate construction costs, leading to higher property prices and rents across the country.
- Cement manufacturers benefit from increased revenue, while developers, construction workers, and tenants bear the economic burden.
- The increase highlights a gap between industry pledges and market reality, raising questions about price regulation mechanisms.
- This occurs amidst high inflation and a cost-of-living crisis, worsening economic pressure on households and businesses.
The situation places focus on the need for clarity regarding the causes of the increase and potential regulatory or governmental response.
Sources: DAILY POST
