In the last five weeks, cement prices in the Federal Capital Territory have seen a significant decline, with reductions ranging from 22% to 26% per 50kg bag.
A recent survey by DAILY POST across areas like Jabi, Area 10, Kubwa, Lugbe, Utako, Lifecamp, and Gwarimpa revealed that Dangote and BUA cement are now priced at N7,800 and N11,000 per 50kg bag, respectively.
This marks a decrease from the previous prices of N10,000 and N15,000 recorded on February 16, 2024.Local retailers in Abuja have confirmed the price drop, with Dangote cement selling for N7,800 and BUA at N11,000 per bag.
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Dr. Muda Yusuf, Director of the Centre for the Promotion of Private Enterprise, attributes this reduction to improvements in the supply chain and macroeconomic factors, including the Naira’s appreciation against the US dollar.
Additionally, President Bola Ahmed Tinubu’s call for cement manufacturers to revert to previous prices may have also influenced the recent adjustments.
