Tag: Cement price

Cement price hits ₦12,000, as fuel, logistics costs soar

Aminu Imam
Cement price hike

Stakeholders in cement distribution have blamed the surge in cement prices on rising fuel and transportation costs, citing global geopolitical tensions as a major factor. According to some of the stakeholders, including the Ondo State Commissioner for Commerce, Industry and Cooperative Services, Pastor Bola Ademuwagun, attributed the recent increase in cement prices in Nigeria from about ₦11,000 and ₦11,500, depending on location, to around ₦12,000 per bag to rising energy and logistics costs. Ademuwagun said that although factory production costs remain relatively stable, high petrol prices have significantly increased the…

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Revert to old price of cement – Tinubu directs Dangote, BUA, others

Aminu Imam

President Bola Ahmed Tinubu has directed cement companies to revert to the old price as it was in the country. Minister of Works, Senator David Umahi, revealed this to newsmen yesterday, shortly after inspecting BUA cement factory in Sokoto. The minister said during a meeting with the manufacturers, the President directed them to revert to the earlier price of cement. I want to encourage them to abide by the directive of Mr. President so that we can achieve massive housing programme and the renewed hope agenda of concrete roads of…

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Cement marketers defy BUAs price slash announcement, sell at old price of N5,500 per 50kg bag

Aminu Imam

Cement marketers in the South-western region have refused to adhere to the recent price reduction of the product announced by the management of BUA Cement company. Recall that the cement manufacturer had, in an issued statement last week, announced that from Tuesday, October 2, 2023, it will slashed the ex-factory price of the commodity by 30 percent, with a bag selling for N3,500 per bag. However, findings have revealed that the price of BUA branded cement had largely remained the same in the South-West, especially in Abeokuta, Osogbo, Ibadan and…

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?angote denies reducing cement price from N5, 500 to N2, 700

Aminu Imam

The management of ?angote Cement Plc has debunked reports that the company has reduced the price of cement from N5, 500 to N2, 700 effective from October 1st. Speaking with newsmen, Group Head, Corporate Communications, ?angote Group, Anthony Chiejina, said the report was lie being spread by some people on social media in order to trend, generate traffic and make money. He further urged members of the public to disregard any statement that did not originate from ?angote Group. Also, the ex-presidential aide to former President Muhammadu Buhari, Bashir Ahmad, confirmed…

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