Cement Prices Double in 3 Years, Squeezing Nigerian Construction Industry

Cement prices have risen 100% in 3 years, from ₦3,300-3,500 per bag in 2021 to ₦6,500-7,000 currently
Rise attributed to global cement demand increase due to COVID-19 and low returns from capital markets driving construction activity
Continuous price increases negatively affecting block producers' production output and income
Plans for concrete roads could raise prices further to ₦9,000 per bag
Cement producers call for government to address cement price hikes by allowing more cement industry participation