Cement hits N11,000 in Lagos

Despite the purported agreement between manufacturers and the government that cement should be sold for N7,000, residents of the Idimu area in Lagos state are still grappling with prices ranging between N10,000 and N11,000.

A local retailer, known only as Alhaja, dismissed the notion of cement being sold at N7,000 as a mere rumor. According to her, during negotiations with the Federal Government, Dangote Group halted all payment channels. Upon reopening, prices soared once more.

Alhaja remarked, “Even BUA, which initially sold for N3,500, swiftly raised its prices. Last week, Dangote’s payment portal was inaccessible, only to reopen with a N400 increase. The talk of N7,000 is merely media hype; it’s far from reality. But we hope for its implementation soon, as these price hikes severely impede business.”

Another retailer, requesting anonymity, echoed Alhaja’s sentiment, revealing a complete absence of cement stock. He lamented, “At this juncture, I’m at a loss. Cement is beyond reach, and restocking seems impossible. The N7,000 figure touted in the news is unrealistic. Prices surged by N400 after discussions with the government. We can only hope for a swift resolution to this crisis.”