Cement price jumps by 40%
Prices of various brands of cement skyrocketed overnight across the country putting builders and suppliers under unexpected pressure. Brands of cement initially sold at between N1, 500 and N1, 600 have jumped to between N2, 200 and N2, 400 in most parts of the country.
Dealers of cement in Kano State yesterday attributed the increase to unexpected suspension of production by the major cement companies.
Communications manager at Lafarge Africa Plc in Calabar, Mrs Anita said she was not in a position to explain why the price had suddenly jumped up.
A staff of one of the cement companies said: “We were directed not to collect any new payment from dealers since last week and on Monday another circular was issued directing for the increase of N600.”
Our correspondents across the states reported that cement buyers have also said most construction works within the capital city will soon be put on hold.
In Maiduguri, the Borno State capital, prices of cement went up.
A cement dealer at Yerwa Peace area near Maiduguri Flour Mills in Maiduguri, Alhaji Ibrahim Modu said a bag of Dangote cement, which was selling at N1,510 three days ago, was N2,200 as at yesterday.
In Umuahia, Dangote and other brands of cement are now sold at N2,200. A dealer whose name was simply given as Ojike Cosmos at the Timber market said he was surprised when buyers besieged his shop few days ago to buy cement in large quantity.
In Lokoja, the Kogi State capital, checks showed that a bag of Dangote 3x cement now sells between N1,970 and N2,000 as against the N1,600.
In Jos, the Plateau State, the current price of cement is N2,200 per bag. Kenneth, a major dealer, who declined giving his full identities told Daily Trust that the current price per truck of 600 bags is over N1.260 million, a rise that is almost 50 percent compared to what they bought before, adding that an off-loading cost of N9,000 caused dealers to raise the per bag cost to N2,200.
Our correspondent in Taraba state reports that a bag of cement sold at N1600 few days ago in Jalingo is now sold at N2,200. A cement dealer in Jalingo, Mallam Garba Yahaya said he received instruction on the new price of cement from his supplier yesterday.
In Rivers State, a market survey carried out yesterday by Daily Trust in Port Harcourt, showed that a bag of 50kg cement which was sold at N1,600 last week now goes for N2,200.
A major cement dealer at the popular mile 3 market in Port Harcourt said “Since last week we have been selling cement at N1,600. But by yesterday the depot price has gone up to N1900 at the depot and when we add up the cost of transportation everything will go high and we sell at N2,200.”
In Bauchi, price of cement rose from N1,600 to between N2,200 to N2,300 Tuesday indicating an increase of between N500 to N600 on a 50kg bag.
Cement in Kwara our correspondent learnt has increased from N1, 550 to N2,100, while in Yobe State, Ashaka cement is being sold at N2,100 and Dangote is N2,300. Our correspondent in Damaturu reports that cement shops have started shutting in the state.
In Gombe, the price went from N1600 per bag to N2000 and N2100 for Ashaka and Dangote Cement respectively.
Meanwhile, building contractors and property owners in Calabar, Cross River State, said they might no longer embark on new buildings because of the new price of cement.
In Kebbi state, a bag of cement which was sold at N1,500 on Monday has suddenly jumped to N2,100 by Tuesday at various sales outlets and depots in Birnin Kebbi. A bag of cement is now selling at N2,100 in Zamfara, Daily Trust checks have revealed.
Market survey at most of the cement stores in Gusau and other local governments revealed that the price skyrocketed from N1,700 to N2,100. Similar reports came in from the FCT, Katsina, Kaduna, Edo states and other parts of the country.
Dealers of cement in Kano State yesterday attributed the increase to unexpected suspension of production by the major cement companies.
Group Head, Corporate Communications at Dangote,
Anthony Chiejina, said the increment was due to the acute shortage of
forex and increase in the energy price of gas due to depreciation of the Naira.
Communications manager at Lafarge Africa Plc in Calabar, Mrs Anita said she was not in a position to explain why the price had suddenly jumped up.
A staff of one of the cement companies said: “We were directed not to collect any new payment from dealers since last week and on Monday another circular was issued directing for the increase of N600.”
Our correspondents across the states reported that cement buyers have also said most construction works within the capital city will soon be put on hold.
In Maiduguri, the Borno State capital, prices of cement went up.
A cement dealer at Yerwa Peace area near Maiduguri Flour Mills in Maiduguri, Alhaji Ibrahim Modu said a bag of Dangote cement, which was selling at N1,510 three days ago, was N2,200 as at yesterday.
In Umuahia, Dangote and other brands of cement are now sold at N2,200. A dealer whose name was simply given as Ojike Cosmos at the Timber market said he was surprised when buyers besieged his shop few days ago to buy cement in large quantity.
In Lokoja, the Kogi State capital, checks showed that a bag of Dangote 3x cement now sells between N1,970 and N2,000 as against the N1,600.
In Jos, the Plateau State, the current price of cement is N2,200 per bag. Kenneth, a major dealer, who declined giving his full identities told Daily Trust that the current price per truck of 600 bags is over N1.260 million, a rise that is almost 50 percent compared to what they bought before, adding that an off-loading cost of N9,000 caused dealers to raise the per bag cost to N2,200.
Our correspondent in Taraba state reports that a bag of cement sold at N1600 few days ago in Jalingo is now sold at N2,200. A cement dealer in Jalingo, Mallam Garba Yahaya said he received instruction on the new price of cement from his supplier yesterday.
In Rivers State, a market survey carried out yesterday by Daily Trust in Port Harcourt, showed that a bag of 50kg cement which was sold at N1,600 last week now goes for N2,200.
A major cement dealer at the popular mile 3 market in Port Harcourt said “Since last week we have been selling cement at N1,600. But by yesterday the depot price has gone up to N1900 at the depot and when we add up the cost of transportation everything will go high and we sell at N2,200.”
In Bauchi, price of cement rose from N1,600 to between N2,200 to N2,300 Tuesday indicating an increase of between N500 to N600 on a 50kg bag.
Cement in Kwara our correspondent learnt has increased from N1, 550 to N2,100, while in Yobe State, Ashaka cement is being sold at N2,100 and Dangote is N2,300. Our correspondent in Damaturu reports that cement shops have started shutting in the state.
In Gombe, the price went from N1600 per bag to N2000 and N2100 for Ashaka and Dangote Cement respectively.
Meanwhile, building contractors and property owners in Calabar, Cross River State, said they might no longer embark on new buildings because of the new price of cement.
In Kebbi state, a bag of cement which was sold at N1,500 on Monday has suddenly jumped to N2,100 by Tuesday at various sales outlets and depots in Birnin Kebbi. A bag of cement is now selling at N2,100 in Zamfara, Daily Trust checks have revealed.
Market survey at most of the cement stores in Gusau and other local governments revealed that the price skyrocketed from N1,700 to N2,100. Similar reports came in from the FCT, Katsina, Kaduna, Edo states and other parts of the country.
Daily Trust
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