The cost of cement in Lagos has reached unprecedented levels, with retailers now selling 50kg bags for as high as N9,500, a surge that is significantly impacting inflation rates across the region.<\/p>\n
Reports from retailers indicate a steady upward trend in prices since the beginning of the year, prompting some to cease sales altogether due to the unpredictability of pricing from distributors.<\/p>\n
Despite assurances from BUA Cement to cap prices at N3,500, consumers are facing a harsh reality with prices averaging at N9,500 for Dangote Cement products. This vast disparity between promised and actual prices exacerbates the financial strain on both businesses and consumers.<\/p>\n
This surge in cement prices aligns with projections made by Cardinal Stone, a leading investment firm, which anticipated sustained high prices throughout 2024. Rising operational costs for cement producers are cited as a primary factor driving this trend, as manufacturers grapple with increased expenses in production and distribution.<\/p>\n
The Federal Government’s emphasis on the use of concrete in road construction projects has also contributed to the escalation of cement prices. With concrete being a primary component in infrastructure development, the demand for cement has surged, further exacerbating supply chain pressures and driving prices upward.<\/p>\n
Warnings abound that the current trajectory of cement prices could see them skyrocketing to N9,000 per 50kg bag, posing significant challenges for construction projects and further fueling concerns about inflationary pressures in the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"
The cost of cement in Lagos has reached unprecedented levels, with retailers now selling 50kg bags for as high as N9,500, a surge that is significantly impacting inflation rates across the region. Reports from retailers indicate a steady upward trend in prices since the beginning of the year, prompting some to cease sales altogether due […]<\/p>\n","protected":false},"author":25,"featured_media":19958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-19957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/19957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=19957"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/19957\/revisions"}],"predecessor-version":[{"id":19962,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/19957\/revisions\/19962"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/19958"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=19957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=19957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=19957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}