Cement prices have crashed in some states in the North following efforts by the Nigerian government to reduce the surging costs of construction materials.
A bag now sells for between N8,000 and N9,500, a decrease from previous rates.
Stakeholders say the product remains relatively expensive in Nigeria compared to other countries in Africa.
States with low prices:
According to a recent survey, top brands such as Dangote, Lafarge and BUA all sell the product at almost the same price.
Cement prices have declined in the Federal Capital Territory (FCT), Niger, and Nasarawa states compared to the previous rates where it sold above N13,000 per bag before the government’s intervention.
According to findings, Dangote cement sells for N8,000 and N9,500, Lafarge cement goes for N8,000 and N9,300, and BUA cement stands at N7,500 and N9,000.
Reports say traders shared insights into the market dynamics following the government’s directives to manufacturers to lower prices.
Traders predict further price reduction:
The traders say the prices may drop further but remain cautious as the manufacturers, wholesalers, and retailers play a critical role in setting the prices for end users.
According to them, differences arise from modes of procurement, with some sourcing them directly from the manufacturers and others via dealers.
Only traders with old stocks sell the products at about N9,500, N8,500 and N8,000 per bag.
Seller calls customer, refunds N400 balance:
Reports say that a man bought cement in Kaduna at N8,200 per bag and shared his experience on X.
The man, Ahmad Kargi, said he went home with the cement only to receive a phone call from the seller. According to Ahmad, the cement seller told him the price of a bag of cement had been reduced to N7,800.