BREAKING: Bag of Cement climbs to ₦11,000 Across Nigeria
By UcProgress Business Desk The retail price of a 50kg bag of cement has risen to as high as ₦11,000 in several markets across Nigeria, according to checks conducted by UcProgress across major urban centres. The development has triggered fresh concerns within the construction sector, as contractors, property developers, and individual home builders grapple with rising building material costs. Market surveys in Lagos, Abuja, Port Harcourt, and parts of the South-East indicate that cement prices now range between ₦9,800 and ₦11,000 per bag, depending on location and brand availability. The increase comes amid persistent inflationary pressure and ongoing economic adjustments affecting production and logistics nationwide. Industry stakeholders say the surge could further slow construction activities, especially for low- and middle-income Nigerians building personal homes. Background Cement prices in Nigeria have experienced consistent volatility over the past three years. In early 2023, av...