The current cost of a 50kg bag of cement in Abuja, the Federal Capital Territory, falls within the price range of N10,000 to N15,000.
The price of Dangote cement is N10,000, whereas BUA cement is priced at N15,000.
Yinka Adebayo, a retailer in Gwarimpa said, “We sell Dangote cement for N10,000 per bag, and the BUA is N15,000. Unfortunately, it may surprise you that I sold the same bag of cement for N5,500 to N6000 last month.”
He said the price hike was unacceptable and insisted the fluctuation in the exchange rate of the dollar could not be blamed.
Recall that for more than five months, the Cement Producers Association of Nigeria cautioned that the Federal Government’s plan to introduce concrete roads could increase cement prices to N9,000 per bag.
The development comes amid a continued soar in Nigeria’s inflation. The National Bureau of Statistics, in its consumer price index report for January, said inflation soared to 29.90 per cent.
Similarly, Rukiyat Abdullahi, a retailer in Kubwa, said Dangote cement is sold for N10,200 while another brand goes for N16,000.
