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High cement price pushes up building costs

26 February 2014, 13:49

Lagos- With demand firming up and the continued shutdown of one of Dangote Cement’s plant, cement prices have once again gone up across the country, reports New Telegraph.

Prices have gone up by at least N700 per 50 kg bag within the last few days. Cement prices in Lagos have been ruling in the range of N1,250 and N1 800 for the past few days.

With the trend expected to continue, a cement bag is likely to cost over N2 000 within the next few days except there is a meaningful intervention from relevant stakeholders, especially cement manufacturers and distributors.

The price hike is already affecting the realty sector as block moulders have increased the price of the various sizes of blocks. A six inch block now sells for N150 as against the former price of N120.

Read more at New Telegraph.


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