Latest Update Of New Price For Cement, Other Building Materials as Chinese Firm Takes over Lafarge In Nigeria In December 2024
Latest Update Of New Price For Cement, Other Building Materials as Chinese Firm Takes over Lafarge In Nigeria In December 2024
Cement prices in Nigeria can vary depending on several factors, including brand, location, and volume of purchase. However, as of December 2024, the average retail price of a 50kg bag of cement from major brands like Dangote, Lafarge, and BUA ranges from NGN 6,800 to NGN 7,000.
For the most accurate and up-to-date pricing information, I recommend checking online platforms like PriceNow NG or visiting local hardware stores in your area.....CLICK HERE TO CONTINUE READING
The cost of building materials has skyrocketed, increasing by more than 100% in the past year The cost of a bag of cement increased by 100% from N4,000 to N8,800, as have other materials The naira depreciation policy has reportedly caused many difficulties for the real estate industry.
Depending on the manufacturer, iron rods, which range from 10mm to 16mm and cost N800,000 per ton in 2023, are currently N1,600,000 or more per ton.
Paint prices have also increased; products that previously cost between N23,000 and N25,000 now cost between N46,000 and N50,000.
According to investigations, the price of building materials in Nigeria skyrocketed by more than 100% over the past year.
For example, blocks were sold for N250 each last year; now, depending on the size, they range from N550 to N600 each.
Cement prices increased by 100%, from N4,000 to N8,800 per bag.
The Legit.ng News Paper earlier reported that Holcim AG would sell its 83.8% share in Lafarge Africa to Huaxin Cement Co., a Chinese cement company.
A statement by the group on December 1, 2024, disclosed that the $1 billion deal would be finalised in 2025, subject to regulatory approval.
If the new owners do not delist from the Nigerian Exchange Limited, the deal could double Lagarge's market capitalisation on the list.
Source: Legit.ng
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