Nigerian Cement and Iron Rod Prices Remain High Despite Inflation Decline

Despite a decline in Nigeria's inflation rate for the fifth consecutive time, cement and iron rod prices have remained high, with cement averaging at N10,000 per 50kg bag. Brands like Dangote and Lafarge are selling cement at prices ranging from N10,000 to N10,200 per bag in different regions like Lagos and Enugu.

While the inflation rate has decreased, factors like currency depreciation and increased demand for infrastructure projects have contributed to the stability of building material prices over the last six months. Local dealers like Samuel Chinwendu and Sebastin Ovi have noted that iron rod prices have remained stable, with 12mm rods selling between N9,500 and N12,500.