Cement price skyrockets as coys declare record profits

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Daily Trust investigation reveals that the price of a 50kg bag of cement initially rose from N2,500 to N3,600 around November 2020.

The Nigerian cement market is dominated by three players –Dangote Cement, Lafarge Africa Plc and BUA Cement.investigation reveals that the price of a 50kg bag of cement initially rose from N2,500 to N3,600 around November 2020.A wholesale dealer in various kinds of Cements at Okera in Ajah Axis of Lagos state, Adeleke Oluwafemi, said a bag of Dangote Cement was sold for N3,400 from the company while wholesalers sold same for N3,600 within January and April 2021.

 

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