Low production pushes up cement price by 35%
Punch Newspapers Sections Femi Asu, Ife Ogunfuwa and Temiloluwa O’Peters The inability to meet market demand for cement coupled with low production volume by major cement companies in Nigeria have driven prices up by 35 per cent. An investigation by The Punch indicated that a 50kg bag of cement, which cost between N2,400 and N2,600 as of September this year now sells for N3,500. Stakeholders attributed the recent hike in price which started in October this year to insufficient supply of the product that resulted in artificial scarcity. It was gathered that though the price of cement from ...