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› › Dangote and BUA Cement Prices Drop in Northern Nigeria
Dangote and BUA Cement Prices Drop in Northern Nigeria

Dangote and BUA Cement Prices Drop in Northern Nigeria

By Sunday 10 March 2024 Comment
Dangote and BUA Cement Prices Drop in Northern Nigeria



In a significant move, Dangote and BUA Cement have lowered their prices in northern Nigeria on March 10, 2024. This price reduction aligns with the Federal Government's efforts to address the rising costs of construction materials, specifically cement.

The official price range for a 50kg bag of cement in the North is now between N8,000 and N9,500, a substantial drop from previous rates. This reduction is a positive outcome of the government's intervention, aiming to make construction more affordable and support infrastructure development.

Despite the government's intervention, challenges in price regulation persist due to the influence of wholesalers and retailers. Okechukwu Uche, a trader in Abuja, explains that differences in procurement methods contribute to varying prices. Some traders source directly from manufacturers like Dangote, while others rely on dealers. CONTINUE READING.....

For cost-effective solutions, purchasing cement wholesale, equivalent to a trailer load, is a viable option. Major cement brands, including Dangote, Lafarge, and BUA, offer attractive wholesale deals, catering to construction businesses and individuals involved in large-scale projects.

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The impact of this intervention is noticeable in the Federal Capital Territory (FCT), Niger, and Nasarawa States. Prices in these regions have significantly dropped compared to the previous levels, surpassing N13,000 per bag before the government's involvement. Current prices for major cement brands in these states are as follows:

- Dangote Cement: N8,000 to N9,500
- Lafarge Cement: N8,000 to N9,300
- BUA Cement: N7,500 to N9,000

Despite the positive trend, traders remain cautious, awaiting further market developments. Okechukwu Uche notes that while there are signs prices might drop below N8,000, traders are observing the market until next week Wednesday to assess the situation thoroughly. CONTINUE READING.....

The current market suggests the potential for further reduction in cement prices. Traders with older stock may maintain prices around N9,500, but current prices range between N8,000 and N8,500, indicating a potential for further reduction. However, it's essential to note that these prices may not return to the previous levels of N5,000 per bag.

In conclusion, the recent price drop by Dangote and BUA Cement reflects a positive development in line with the Federal Government's efforts to make construction more accessible in Nigeria. The impact on the Northern region, particularly in the FCT, Niger, and Nasarawa States, is significant. As market dynamics continue to evolve, the cautious optimism among traders and the potential for further price reduction create an intriguing narrative for stakeholders in the construction industry.

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