Cement Prices Hits New High
The cost of cement has surged to about ₦12,000 per bag across parts of Nigeria, driven largely by rising energy expenses affecting production.
Industry players say the increase is linked to higher prices of gas, diesel, and electricity used by manufacturers.
Manufacturers depend heavily on energy to power factories and transport materials, and recent cost spikes have pushed production expenses upward.
This has forced companies to adjust prices to stay afloat in a tough operating environment.
The development is already affecting the construction sector, where builders and developers are struggling to cope with the rising cost of materials.
Many projects are slowing down, while others face possible delays due to budget pressure.
Stakeholders warn that if energy costs remain high, cement prices may continue to climb, adding more strain on housing and infrastructure development across the country.
