EKO HOT BLOG reports that according to a recent survey, cement prices in some northern states have seen a decline. As reported by Legit, major cement manufacturers like Dangote, Lafarge, and BUA are selling the product at nearly identical prices.
Despite efforts by the Nigerian government to alleviate the rising costs of construction materials, cement remains relatively expensive in Nigeria compared to other African countries.
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States With Lowest Prices
Cement prices have declined in the Federal Capital Territory (FCT), Niger, and Nasarawa states and are now being sold between N8,000 and N9,500, compared to the previous rates where it sold above N13,000 per bag.
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.
Some traders shared insights into the market dynamics following the government’s directives to manufacturers to lower prices.
Speaking to the aforementioned publication, traders say that the prices may drop further, but they are being cautious as the manufacturers, wholesalers, and retailers play a critical role in setting the prices for end users.
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According to them, differences arise from modes of procurement, with some sourcing them directly from the manufacturers and others via dealers.
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