Current Prices of Cement in Nigeria (May, 2024)
Last updated on April 30th, 2024 at 10:18 pm
A building is as strong as the type and quality of materials used in its construction.
For this reason, it is advisable you go for a very good and highly-rated building materials whenever you’re set to have a building of your own.
When we’re talking of building materials, the first thing that comes to mind is cement, this is because it plays a very important role in every mansion or any kinds of buildings.
Its no news that the prices of cement in Nigeria has increased due to the failing economy, instability of the Naira to the Dollar and other factors.
This has not deterred builders from purchasing it as it is very vital if you must build your house.
There is no house or mansion that can be constructed without cement.
Therefore, you should be very careful while choosing the choice of cement for your building.
As one of the most important building materials, cement is essential for construction projects of all kinds.
In Nigeria, the cost of cement can vary widely depending on a range of factors, including supply and demand, government policies, and global market trends.
In this article, we’ll take a closer look at the current state of cement prices in Nigeria, and examine the various factors that contribute to price fluctuations.
TOP CEMENT PRODUCING COMPANIES IN NIGERIA
There are five popular cement producing companies in Nigeria, but two of them are widely known across the country and across the whole of Africa.
These two brands are Dangote cement PLC and Lafarge/WAPCO cement
- Dangote Cement Plc
This is one of the firms owned by Africa’s richest man Alhaji Aliko Dangote and it was founded in 1992.
At first, it was called Obajana cement because it was located at Obajana street in Kogi state, middle-belt region of the country.
But as time passed, by the year 2010, the name was changed from Obajana cement to Dangote cement.
Despite dumping Obajana as its identity, Dangote cement still has a plant at Obajana street in Kogi up till today.
In fact, the plant in Kogi state is the company’s largest plant in the country because it produces over 10.25mm tones of cement per year.
Other plants in Nigeria include Obeshe in Ogun state which manufactures nothing less than 4mm tones per annum; and Gboko in Benue State which produces over 4mm tones per annum.
The company also have many plants in some African countries, which include: Congo, Senegal, Tanzania, South Africa, Cameroon , Ghana, Zambia, Sierra Leone, Liberia, Ivory Coast, and Ethiopia.
- Lafarge Cement/ WAPCO Nigeria
This is another big name in cement-making and distributing industry in Nigeria.
Lafarge, just like Dangote, is a group of companies but the branch that deals with the production of cement is known as WAPCO Cement.
This company has three massive plants in Ogun state and they all combine to produce at least 4.5mmtpa of cement in one year.
Other plants include: Ashaka cement plant in Gombe state which produces 1mmt on yearly basis; United Cement Company of Nigeria plant in Calabar state which produces 2.5mmtpa of cement per year.
LATEST PRICES OF CEMENT IN NIGERIA TODAY (2024)
As much there are many brands of cement you can choose to buy whenever you’re ready to build your own house, it’s important you very much careful not to end up buying substandard products, all in the name of cheap prices.
Many contractors have fall victim to frauds who sells fake cements products at a very cheap prices.
To end this trend, we made some purposeful researches and came up with the standard prices of cements for different brands in the country.
The price list for various cement brands this May, 2024 is unveiled below:
| Brand | Retail Price (per 50kg bag) | Wholesale Price (per 50kg bag) |
|---|---|---|
| Dangote Cement | ₦9,900 – ₦10,500 | ₦8,000 – ₦11,300 |
| Lafarge Cement | ₦9,100 – ₦10,500 | ₦8,000 – ₦10,440 |
| BUA Cement | ₦9,900 – 10,500 | ₦8,000 – ₦11,000 |
| Elephant Cement | ₦9,200 – ₦10,500 | ₦8,000 – ₦10,400 |
| Ashaka Cement | ₦9,900 – ₦10,500 | ₦8,000 – ₦11,000 |
WHOLESALE CEMENT PRICES IN NIGERIA (2024)
Purchasing cement in bags is more expensive than purchasing it in wholesale.
If you do this, free delivery is provided to your location.
With prices about to crash by over 50%, 100 bags is the minimum order quantity for wholesales.
There are 600 bags of cement in a full trailer load.
As of May, 2024, the average wholesale price of cement in Nigeria is ₦10,000 per bag and over ₦6,000,000 per trailer load.
After the meeting between the Federal Government and cement manufacturers in Nigeria, it was agreed that the price of cement should be pegged at ₦7,000 to ₦8, 500 per 50kg bag depending on the location to enable consumers buy.
| Cement Brands | Prices |
|---|---|
| Dangote Cement | ₦4,800,000 |
| Lafarge Cement | ₦4,240,000 |
| BUA Cement | ₦4,120,000 |
| UNICEM cement | ₦4,240,000 |
| Ibeto Cement | ₦4,240,000 |
CURRENT PRICES OF CEMENT IN NIGERIA’S 36 STATES (APRIL, 2024)
We have done our research to know how much you can get a bag of 50kg cement in all the 36 states in Nigeria like Lagos, Abuja, Ekiti, Ibadan, Abia, etc.
Note that these cement prices are subject to change.
| State | Price Range | Size (kg) |
|---|---|---|
| Abia | ₦8,500 – ₦10,000 | 50kg |
| Adamawa | ₦8,500 – ₦10,000 | 50kg |
| Akwa Ibom | ₦8,500 – ₦10,000 | 50kg |
| Anambra | ₦8,500 – ₦10,000 | 50kg |
| Bauchi | ₦8,500 – ₦10,000 | 50kg |
| Bayelsa | ₦8,500 – ₦10,000 | 50kg |
| Benue | ₦8,500 – ₦10,000 | 50kg |
| Borno | ₦8,500 – ₦10,000 | 50kg |
| Cross River | ₦8,500 – ₦10,000 | 50kg |
| Delta | ₦8,500 – ₦10,000 | 50kg |
| Ebonyi | ₦8,500 – ₦10,000 | 50kg |
| Edo | ₦8,500 – ₦10,000 | 50kg |
| Ekiti | ₦8,500 – ₦10,000 | 50kg |
| Enugu | ₦8,500 – ₦10,000 | 50kg |
| Gombe | ₦8,500 – ₦10,000 | 50kg |
| Imo | ₦8,500 – ₦10,000 | 50kg |
| Jigawa | ₦8,500 – ₦10,000 | 50kg |
| Kaduna | ₦8,500 – ₦10,000 | 50kg |
| Kano | ₦8,500 – ₦10,000 | 50kg |
| Katsina | ₦8,500 – ₦10,000 | 50kg |
| Kebbi | ₦8,500 – ₦10,000 | 50kg |
| Kogi | ₦8,500 – ₦10,000 | 50kg |
| Kwara | ₦8,500 – ₦10,000 | 50kg |
| Lagos | ₦8,500 – ₦10,000 | 50kg |
| Nasarawa | ₦8,500 – ₦10,000 | 50kg |
| Niger | ₦8,500 – ₦10,000 | 50kg |
| Ogun | ₦8,500 – ₦10,000 | 50kg |
| Ondo | ₦8,500 – ₦10,000 | 50kg |
| Osun | ₦8,500 – ₦10,000 | 50kg |
| Oyo | ₦8,500 – ₦10,000 | 50kg |
| Plateau | ₦8,500 – ₦10,000 | 50kg |
| Rivers | ₦8,500 – ₦10,000 | 50kg |
| Sokoto | ₦8,500 – ₦10,000 | 50kg |
| Taraba | ₦8,500 – ₦10,000 | 50kg |
| Yobe | ₦8,500 – ₦10,000 | 50kg |
| Zamfara | ₦8,500 – ₦10,000 | 50kg |
| Abuja | ₦8,500 – ₦15,000 | 50kg |
It is very important you know that the prices listed above are the standard prices for any brand of cement you are looking for.
However, some retailers might add little sum of money to their goods in order to increase their profit by the end of the day.
With the recession hitting Nigeria, there has been a sharp increase in prices of goods.
A bag of cement today goes from ₦9,500 to ₦13,000 depending on the state and area of purchase. In Abuja, we heard that the price of 50kg bag of cement is ₦15,000.
Irrespective of the changes in prices, you shouldn’t go below the prices listed above, else, you’re going for substandard cements.
Before we delve into the factors influencing cement prices, let’s take a brief look at the Nigerian cement industry.
Currently, there are several major cement manufacturers operating in Nigeria, including Dangote Cement, Lafarge Africa, and BUA Cement.
These companies produce cement using both locally-sourced and imported raw materials, and compete to meet the growing demand for cement in Nigeria’s construction industry.
FACTORS AFFECTING CEMENT PRICES IN NIGERIA
Now, let’s explore the various factors that can impact the cost of cement in Nigeria.
SUPPLY AND DEMAND
Like any commodity, the price of cement is largely determined by supply and demand.
When demand for cement is high and supply is limited, prices tend to rise.
Conversely, when supply exceeds demand, prices may fall.
In Nigeria, the construction industry is the primary driver of cement demand, and fluctuations in construction activity can have a significant impact on cement prices.
RAW MATERIALS COSTS
The cost of raw materials such as limestone, clay, and gypsum can also impact the price of cement.
If the cost of these materials increases, cement manufacturers may raise their prices to maintain profitability.
In addition, fluctuations in the exchange rate can also affect the cost of imported raw materials, which can in turn impact cement prices.
TRANSPORTATION COSTS
Transportation costs are another important factor to consider when examining cement prices in Nigeria.
Cement is a heavy and bulky material, which means that transportation costs can be significant, particularly for manufacturers located far from their customers.
These costs can be passed on to consumers in the form of higher prices.
GOVERNMENT POLICIES AND REGULATIONS
Government policies and regulations can also have an impact on cement prices in Nigeria.
For example, the government may impose tariffs or taxes on imported cement to protect local manufacturers.
In addition, regulations on the use of cement in construction projects can also impact demand, and therefore prices.
CHALLENGES FACING CEMENT-PRODUCING COMPANIES IN NIGERIA
Despite the fact that Nigeria doesn’t import cement, the prices of this building material continues to increase from time to time.
The constant increase in the price of cement in Nigeria could be traced to many factors, which one of them is the diverse challenges facing the industry in general.
What are the challenges facing cement companies in Nigeria? The answers to your question are rightly discussed below:
- Epileptic Power Supply
This is the oldest and the toughest challenge facing almost every sector of Nigeria’s economy.
Any firm or industry in a country without adequate and regular supply of electricity is bound to struggle.
Unfortunately, this is what all cement-making companies, and other companies, experience in Nigeria today.
Hence, their level of productivity drastically reduces on daily basis.
For well-established companies, the effect isn’t really felt because they have the financial capacity to power alternative source of electricity to run the business.
For young companies, they have no option but to rely solely on the country’s epileptic source of electricity which lowers their annual yield.
- Unfavorable Government Policies
Nigerian government are known for their harsh policies towards the cement-making companies, which has — in one way or the other reduced their productivity rate.
Though the current government place an embargo on importation of cement in the country — which is a commendable move, the same government also ensures that cement manufacturers pay too many taxes.
- High Cost of Maintenance
Production of large scale cement involves the use of many sophisticated machines which are very expensive to get and to maintain.
This is why many cement companies added some extra charges on their products in order to make mouthwatering profit after the sale of their products.
- High Cost of Distribution
It is one thing to produce, it is another thing to distribute their products to all part of the country.
In Nigeria, the cost of transportation or distribution of goods from one place to another is very expensive.
This is why many companies prefer distributing their products to a specific location rather than targeting all parts of the country.
Reliably informed, thanks Sir.