Cement costs 100% more and reaches ?7,000 per bag in three years

The difficulties facing the country's cement sector are a result of manufacturers trying to reduce operating expenses, unstable foreign exchange rates, and elevated inflation.A bag of cement now costs ?7,000, a 100% increase in just three years, as Nigerians struggle with crippling inflation.Cement retail prices in Lagos and Ogun states in 2021 were between ?3,300 and ?3,500. In both states, the price ranged from ?6,500 to ?7,000 as of last week, February 2024.The Cement Producers Association of Nigeria had warned against the FG's plan to implement concrete roads, and this coincided with the increase in cement prices per bag. The organization forewarned that the proposal will raise cement prices to ?9,000 per bag from the current price of ?5,000.