Rising cost of inputs as well as demand-supply dynamics have pushed up the price of 50-kg bag of cement to between N1900 and N2200, from N1600 and N1700, BusinessDay has exclusively gathered, Business Day Online reports.
Following Nigerian Government’s favourable industry initiatives, cement prices fell, while production capacity rose. In 2013, industry capacity reached 28 million tons, making the country the largest manufacturer in sub-Saharan Africa (SSA), while prices remained less than N1700.
Industry sources have attributed the rising prices (up to N2200) to high input costs, demand-supply dynamics as well as fluctuations in exchange rate.
By Odinaka Anudu