In response to recent fluctuations in cement prices, Nigeria faces a pressing need to assess the prevailing rates set by major cement producers, highlighting potential disparities in the market.
Initially, collaborative efforts between key cement producers like BUA, Dangote, Lafarge, Ibeto, and governmental bodies aimed to establish a standardized pricing framework.
The agreement outlined a pricing range of N7,000 to N8,000 for a 50kg bag of cement.
Insights from Market Observations:
A comprehensive analysis of current market prices exposes significant variations from the agreed-upon rates. Here’s a breakdown of prevailing prices offered by major cement producers:
- Dangote Cement Plc: Prices fluctuate between N7,000 and N8,500 per bag.
- Lafarge Africa Plc: Cement is available within the price bracket of N7,000 to N8,000 per bag.
- BUA Cement: Retail prices vary from N6,500 to N7,500 per bag.
- UNICEM Cement: Prices fluctuate between N6,000 and N7,000 per bag.
- Ibeto Cement: Retail prices range from N6,500 to N7,000 per bag.
Amidst these discrepancies, stakeholders urge for enhanced regulatory measures to ensure fair pricing practices across the cement industry, safeguarding consumers’ interests and fostering market stability.