This article is about the current prices of cement in Nigeria this 2023. In our country Nigeria today, cement prices fluctuate a great deal and this has made it almost impossible to give the exact figures. You would think that this price fluctuation is as a result of cement being imported into the country but that is not the case as the cement being used across the federation are totally made in Nigeria by the best cement manufacturing companies in Nigeria. irrespective of the price difference, we have done our research and made a price list of the estimated costs of cement in the country today. We urge you our esteemed readers to keep reading to find out more.
REASONS FOR THE PRICE FLUCTUATIONS OF CEMENT IN NIGERIA TODAY
Numerous unpleasant factors, which are complicating business for cement producers in the country, are to blame for Nigeria’s frequent price changes in cement. While some of these factors are within the direct control of the producers, others are completely out of their hands. Here are a few causes of Nigeria’s fluctuating cement costs despite the country’s prohibition on cement imports. They are:
HIGH COST OF MAINTENANCE
The cost of maintenance can be very high because the production of cement necessitates the use of large facilities and heavy equipment. Because of this, operating cement manufacturing plants on a daily basis is quite expensive. Manufacturers tend to raise prices to maintain a profit.
HIGH COST OF DISTRIBUTION
When it comes to the distribution and delivery of goods, it is widely known that the cost of delivery is directly associated with the weight of the conveyed goods. This explains why the product’s distribution costs so much money for the producers given the product’s type and content. This also explains why most businesses aim to situate their facilities close to their target market and why most factories solely serve the neighbouring areas.
EPILEPTIC POWER SUPPLY
The economy of Nigeria has been plagued by this issue for a very long time. It is therefore reasonable to believe that it will have a considerable impact on the nation’s cement manufacturing, which calls for heavy-duty automated equipment that is driven by electricity. Nigeria’s epileptic power supply forces cement makers to rely on expensive alternative energy sources, which drives up overhead costs and, eventually, product prices.
UNFAVOURABLE GOVERNMENT POLICIES
The Nigerian government has long been antagonistic to the nation’s cement producers through its policies. Although the prohibition on cement imports is to be applauded, there are other policies that make it challenging for producers. These include a variety of taxes and other ever-changing policies.
Other explanations for the fluctuating cement costs in Nigeria include technological shortcomings on the side of the cement producers and limitations on customer purchasing power brought on by the difficult economic situation in Nigeria.
CURRENT PRICES OF CEMENT IN NIGERIA 2023
The following are the current prices of cement as of today in Nigeria this 2023:
- Dangote Cement Retail Price (per 50kg bag) costs between the price range of ₦3,900 – ₦4,200
- Dangote Cement Wholesale Price (600 bags) costs between the price range of ₦2.3 million – ₦2.5 million
- Elephant Cement (WAPCO) Retail Price (per 50kg bag) costs between the price range of ₦3,850 – ₦4,150
- Elephant Cement Wholesale Price (600 bags) costs between the price range of ₦2.3 million – ₦2.4 million
- Ashaka Cement Retail Price (per 50kg bag) costs between the price range of ₦3,900 – ₦4,100
- Ashaka Cement Wholesale Price (600 bags) costs between the price range of ₦2.3 million – ₦2.5 million
- Ibeto Cement Retail Price (per 50kg bag) costs between the price range of ₦3,900 – ₦4,100
- Ibeto Cement Wholesale Price (600 bags) costs between the price range of ₦2.2 million – ₦2.4 million
- Eagle Cement Retail Price (per 50kg bag) costs between the price range of ₦3,800 – ₦4,100
- Eagle Cement Wholesale Price (600 bags) costs between the price range of ₦2.2 million – ₦2.4 million
- BUA Cement Retail Price (per 50kg bag) costs between the price range of ₦3,850 – ₦4,050
- BUA Cement Wholesale Price (600 bags) costs between the price range of ₦2.3 million – ₦2.4 million
- UNICEM Retail Price (per 50kg bag) costs between the price range of ₦3,850 – ₦4,100
- UNICEM Wholesale Price (600 bags) costs between the price range of ₦2.2 million – ₦2.4 million.
Please be aware that not all areas in Nigeria have the same cement prices. Prices in Lagos are often a little bit more than those in other regions of the country, especially in the more upscale districts. In Lagos, a 50kg bag of cement can actually cost up to ₦200 more than the standard rate. You probably will not receive anything less than the standard rate in the market, though. If you are in Lagos or any other region of the country where the cost of goods and services is often greater, always add roughly ₦200 to the current prices shown in this article just in case.
HOW MUCH DOES A BAG OF CEMENT COST IN NIGERIA TODAY?
Depending on the brand, location, and other considerations, the retail price of cement in Nigeria is currently between the price range of ₦3,600 – ₦3,900 per bag. And, depending on the manufacturer, the wholesale price (600 bags) ranges from ₦2.1 million – ₦2.5 million.
