Investigations have indicated that retailers of major cement producers in the country have continued to sell the commodity at high prices despite the agreement between the Federal Government and the manufacturers.
Truetells Nigeria recalls that Dangote, Lafarge, BUA, and other cement producers had agreed to sell 50kg bag of cement between N7,000 and N8,000.
The agreement was reached at a meeting initiated by the Minister of Works, David Umahi.
However, despite the initial agreement, reports from The Nation have shown that cement is being sold for as high as N10,000 and N11,000 in the Idimu area of Lagos state.
Also, a survey from Legit revealed that the agreed prices are yet to be implemented.
A trader identified as Kunle told the aforementioned publication that a bag of cement was still being sold for over N7,000.
He said: “All the talk about N7,000 is just in the media; I still buy from my suppliers at above N7,000.”
Here are the current market prices of cement based on the survey carried out,
Dangote Cement Plc – N11,000 to N12,500
Lafarge Africa Plc – N12,000 to N14,000
BUA Cement– N10,000 and N11,000
UNICEM Cement – N12,000 to N14,000
Ibeto Cement– N10,000 to N11,000.
