"Cement Price Did Not Reduce": Man Buys 50 Bags of Cement For N475,000, Pays N9,500 Per Bag
- A man has said there is no reduction in the price of cement in Nigeria as he recently bought it at the price of N9,500 per bag
- The man said he bought 50 bags of Dangote cement at the cost of N475,000, and insisted that the cost was still high
- He said there was a need to lower the cost of cement in Nigeria so that people who wanted to build houses could afford it
A man said the price of cement in Nigeria did not go down as he bought a bag at the cost of N9,500.
In a post he made on X, the man, Olu, said he bought 50 bags of cement at the cost of N475,000.
Source: Twitter
He therefore said the cost of cement did not reduce and called on cement manufacturers in Nigeria to reduce the price.
The man wrote on X:
"I bought 50 bags of Cement yesterday for N9,500 Naira. The hoax News that the Cement price has come down to N7k it’s not helping. Selling Dangote Cement for N7k in Nigeria. It’s even too much compared to other Countries. We urge our billionaire family to help in this situation."
Recently, the price of cement and other building materials skyrocketed in Nigeria.
A man posted on social media that he bought cement at the cost of N7,800 per bag in Kaduna state.
However, a price check by Legit.ng showed that the crucial building material was selling between N10,000 and N13,000 in some places in Nigeria.
Even the cost of the rod for building has risen from N8,500 to N18,500, according to a lady who did a market survey.
Speaking to Legit.ng on the high cost of building materials such as cement, Obi Obianozie a real estate expert at OB Real Estate, said if the number of cement manufacturers could increase, the price would fall drastically.
His words:
"If Nigeria were to increase its number of cement producers, the price of cement would likely decrease due to increased competition. Currently, Dangote Cement, Bua, and Lafarge are the three major players in the market, producing a combined 30 million tonnes per annum. However, this production volume is insufficient to meet the growing local demand for cement."
See Olu's post below:
Another man laments after buying cement
A Nigerian man lamented the high cost of building materials in Nigeria after recently buying cement.
Godswill said he bought a bag of cement at the price of N13,000 per bag, but he did not say if it was Dangote or BUA.
He added that cement was not the only expensive thing in Nigeria, as he got other building materials like zinc and tiles at a high price.
PAY ATTENTION: Donate to Legit Charity on Patreon. Your support matters!
Source: Legit.ng
