Estate Developers Frown On 53% Cement Price Increase

Nigerians are lamenting the rising cost of cement across the country, despite the commitment by Dangote cement and other manufacturers to reduce the price of the commodity.

This comes as LEADERSHIP gathered that the prices of various brands of cement in Nigeria have remained high, between N12,000 and N9,500, across various locations. Recall that, in March 2025, cement prices dropped  to as low as N7,800 per 50-kilogramme bag from as high as N15,000 on February 16, 2024.

In a more recent development in May 2025, cement manufacturers in Nigeria, such as BUA and Dangote Cement, had vowed to slash the product to support President Bola Ahmed Tinubu’s renewed hope housing initiative. However, the price of cement has remained high, affecting Nigeria’s building sector.

LEADERSHIP learnt that cement prices, whether for Dangote, BUA, or Lafarge, have increased between 28 per cent and 53 per cent in Abuja and other locations in Nigeria. A situation that has worsened the cost of house rent and properties across the country.

Reacting, a stakeholder, Benjamin Udoka lamented  that the likes of Dangote had not replicated the reduction in petrol price in the cement industry.

RELATED

LCCI Bemoans CBN’s Rate Retention

4 hours ago

Commodities Exchanges, Warehouses Can Unlock $500bn – SEC

5 hours ago

“It is painful that Dangote did not replicate his supposed fuel reduction strategy in the cement sector. In some parts of Abuja, a 50 kg bag of cement goes for as much as N11,000. It is pathetic. The federal government needs to do something about price control in the cement industry; Nigerians can no longer bear the exorbitant house rents”,” he stated.

A resident of Dawaki, Maryam Abubakar, also re-echoed Udoka’s position.

Reacting, Past national president and member of the Board of Trustees of the Real Estate Developers Association of Nigeria (REDAN), Aliyu Wamakko, blamed the  development on lack of effective price control by the federal government, demand, and lack of engagement between the FG and cement manufacturers.

As a solution, he urged the federal government to engage cement manufacturers in Nigeria as it did in March 2025 to reduce the price of the product and soften the economic hardship on Nigerians nationwide.

“The usage of cement in Nigeria is more now compared to before. This is because there is more demand in the market. The basic economics showed that as long as demand exceeds supply, the price of the product is bound to rise. The challenge is that cement is supposed to be cheaper, as 70 per cent of its raw materials are found in Nigeria.

“The other issue is that the government has started using cement to do roads, further worsening the demand challenge. Cement constitutes the primary target of any building as far as Nigeria is concerned. Two, there is no price control imposed by the government despite the Renewed Hope Agenda in housing. There is a need for the government to engage cement manufacturers as was done the other time when it was brought down to N7,000 per bag.

“Due to non-engagement by the government, Dangote Cement, BUA, Lafarge, and other products are now sold around N10,000, and some are N11,000 to 12,000 per 50-kilogramme bag in other places. This is the reason for the high cost of house rent and properties. It is simple arithmetic. As long as the cost of building materials is high, the cost of rent and properties will remain on the high side. I urge the government to engage manufacturers of cement.

“I think cement should be used solely for the building of houses, not roads in Nigeria to cut down its demand; the natural resources from refinery waste should be used. The government needs to revive its price control so that the country can move forward,” he pointed out.