Utweets
The Minister of Works, David Umahi, emphasized this directive during a meeting on February 26, 2025, highlighting the stabilization of the naira and a drop in petrol prices as factors supporting this reduction....READ THE FULL CONTENT FROM THE SOURCE | READ THE FULL CONTENT FROM THE SOURCE
The Minister told the manufacturers to reduce the price of cement to ₦7,000 within one week, or he would have to report them to President Bola Tinubu.
Despite this directive, market surveys indicate that retail prices remain elevated. For instance, Dangote Cement is currently priced between ₦9,500 and ₦10,000 per 50kg bag, depending on the location and retailer.
Similarly, BUA Cement is available in the range of ₦8,000 to ₦9,000 per bag.
Elephant Supaset Portland Limestone Cement – ₦10,000
POP Cement – ₦9,500
The disparity between the government’s recommended pricing and the actual market prices has been attributed to factors such as demand outweighing supply and challenges related to foreign exchange.
The national chairman of the Cement Producers’ Association of Nigeria (CEPAN), David Iweta, noted that a better understanding with the federal government could lead to a reduction in cement prices within 30 days.
It’s important to note that these prices can vary based on location, retailer, and prevailing market conditions. Consumers are advised to check with local suppliers for the most current pricing...CONTINUE THE FULL READING HERE:
