Posted 2/17/2024, 7:12:01 AM
Cement Prices in Nigeria Rise to N10,000 per Bag Despite Recent Price Cuts
- Cement prices in Nigeria have risen to between N9,000 and N9,500 per 50kg bag in the last 6 days
- The price hike cuts across cement manufacturers despite recent price slash by BUA Group
- Cement now sells for up to N10,000 per bag in some parts of the South East
- Retailers say announced price cuts by manufacturers not being reflected on the ground
- Price increases blamed on inflation, high business costs and foreign exchange scarcity
