Rising Cement Prices in Nigeria Impact Construction Sector

The price of major cement brands in Nigeria, including Dangote Cement, BUA Cement, Lafarge Cement, and Mangal Cement, has risen steadily, now ranging from ₦11,800 to ₦12,000 per 50kg bag. This increase has raised concerns among builders and contractors, who lament the absence of a stable price structure in the construction sector.

Stakeholders in the industry have noted that frequent price hikes negatively impact operations and slow down project completions across the country. The rise in cement prices is attributed to several economic factors, including significant increases in diesel and electricity costs, which have raised overall manufacturing costs.

Additionally, poor road infrastructure has pushed transportation costs higher, while fluctuations in the naira and increased labor and maintenance costs further complicate the situation. These factors have led to the suspension of various housing and infrastructure development projects, as demand for cement continues to rise amidst inflationary pressures.