Cement Prices Surge Past N15,000 Amid FCCPC Investigation

The price of a 50kg bag of Dangote Cement has reportedly exceeded N15,000 in various locations, raising alarms among developers, architects, and quantity surveyors regarding the potential exacerbation of Nigeria’s housing crisis. The Federal Competition and Consumer Protection Commission (FCCPC) is currently investigating cement dealers and manufacturers due to these price fluctuations.

Amusan Oluseyi, Principal Partner of Space Button Architecture Limited, criticized the price hike, citing Nigeria's ample limestone deposits and cement production capacity of 60 to 65 million metric tonnes annually against a domestic consumption of 25 to 30 million metric tonnes. Soji Adeniji, Chairman of the Lagos Chamber of Commerce and Industry’s Engineering and Construction Group, attributed the price increase to temporary scarcity linked to plant maintenance and access restrictions, expressing optimism for improved supply.

John Agbezin, Public Relations Secretary of the Nigerian Institute of Quantity Surveyors, identified rising costs and logistical challenges as contributing factors to the price surge and called for greater transparency in the cement supply chain.