“No More N12k/Per Bag:” Survey Shows Dangote, BUA, Others Crash Cement Prices to New Low

A market survey conducted by Legit.ng shows cement prices have dropped from the high of N15,000 it sold in January 2024. Retailers of the product said the drop is due mainly to ex-depot prices, which have also dropped following a meeting the producers had with the Nigerian government.

Nigerians reduce demand for cement According to them, the demand for cement has thawed since February 2024 as Nigerians have resisted buying the product due to its high cost.

A dealer in the Iju-Ishaga area of Lagos, identified as Olayinka Olaniyi, told Legit.ng that sales are picking up due to the reduced price. “At a point, Nigerians stopped buying due to the high price of N15,000. I am sure most dealers ran at a loss then because we had mainly old stocks which we wanted to offload quickly,” he said. He said that currently, the product sells for between N7,500 and N8,000, depending on the brand and the demand for the brand.

Another seller, Justice Ike, in the Ogba area of Ikeja, corroborated Olaniyi’s assertions, saying that the prices are crashing as manufacturers adjust their depot prices. Crash in dollar leads to price crash He also said the naira’s appreciation against the dollar may be responsible.

“We know that the naira is doing well against the dollar now, and it would be absurd if manufacturers continued to sell the product at the old prices. “I also believe that the Federal Government’s intervention and the threat to license more importers may have worked, leading to the reduction in price,” he said. A major distributor in Owerri, John Ikechukwu, told Legit.ng in a telephone interview that low demand is also driving the price crash. “People are backing off now due to the high price, but it is beginning to come down now.”

He confirmed that the product is currently sold at N9,000 in the southeast despite the brand. Ikechukwu also attributed the fall in price to the gains of the naira against the US dollar. In a previous report by Legit.ng, Nigerians reacted to the rising cement prices, with stakeholders saying the hike would lead to more building collapses as people may resort to cheap means.

Cement price moves from N6,500 The price of a 50kg bag of cement has risen to about N9,500 in many parts of Lagos and around the country, primarily caused by the biting effect of inflation in Nigeria. Findings show that building materials’ prices have steadily risen from N6,000 to N6,500 to over N9,000 in many parts of the country. The Guardian reports that the cement price rose to N8,000 in Kogi state as many builders were unaware of the sudden price change. The periodic increase in the product’s price has caused retailers to halt sales, fearing that manufacturers might increase prices soon.

Price list of Dangote, BUA, Lafarge, others Legit.ng earlier reported that retailers of significant cement producers in the country have continued to sell the commodity at high prices despite a recent agreement between manufacturers and the federal government of Nigeria. Dangote, Lafarge, BUA, and other cement producers had agreed to cap 50kg bag of cement between N7,000 and N8,000.

This was agreed during a meeting initiated by the minister of works, David Umahi, attended by his counterparts from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, in Abuja on Monday, February 19, 2024.

Dangote Refinery Female Worker Shot By Company’s Private Security Becomes Amputee, Laments Abandonment By Employer

Afemale staff of the Dangote Refinery, Ibeju Lekki in Lagos State, Rashidat Ahmed, whose right hand was amputated after a security official of the company shot her, has lamented that the company abandoned her in her worst moment.

Rashidat, who said she was employed as a cook by Dangote Refinery, told SaharaReporters that she was shot in her right hand by one of the local security the company recruited to scale up the security of the company.

Rashidat’s husband, Ishmaila Sa’adu Zango, who is also a casual staff of the Dangote Refinery narrated his wife’s ordeal to SaharaReporters, recalling how she was shot by the security personnel, Nanin Wada, a hunter recruited by the company and how Dangote Refinery gave them N730,000 and abandoned them while they were still in the hospital since 2023.He further lamented how Dangote Refinery allegedly blocked every means of communication and anyone who attempted to contact the company over the matter.

Zango said, “I have been working with Dangote as their driver under the security department, casual staff, for almost 3 years now. Along the line, the company started having security challenges and brought enough security, army, police, and the hunters to protect the company.“In March 2023, my wife was employed in the company to cook for security hunters. Ever since she started working with the company, there was no challenge until August 27, 2023, when Dangote bus came to pick us up to go to work in the morning.

“While we were inside the bus, one of the Dangote security hunters was inside the car with his gun. My wife and I were inside the bus also with some of our colleagues in the company.On our way going, when I saw the way this security was holding his gun inside the bus, I personally asked him why he held the gun that way but he looked at me and started laughing.“I told him that was not how policemen hold guns but he refused to listen to me.

On our way, I heard the sound of a gun. My wife and her colleague shouted inside the bus. When I looked at her, she told me that her hand was cut and immediately I saw my wife’s condition, I shouted.We went to two hospitals but they rejected us, until we went to the General Hospital Lagos before they started treating my wife. The hunter security that shot my wife, by name Nanin Wada, was arrested by police officers and locked up.

“Police wanted to collect the gun but they refused to give it to the police, saying that it was a family issue. Meanwhile, nothing joined me with Nanin Wada.“While we were in the hospital, doctors said that the only thing they could do was cut my wife’s hand, so I called the company.“Here is the listed money the company sent to me to treat my wife. On August 28, 2023, N100,000. On August 28, 2023, N150,000. On August 30, 2023, N30,000. On September 5, 2023, N150,000. On September 9, 2023, N100,000. On September 14, 2023, N100,000. On September 19, 2023, N100,000. In total, the company sent the sum of N730,000.”Zango said that “After the company sent this mentioned money, they refused to send other money and we were still in the hospital by then.

I was the one that kept on struggling, borrowing money before I was able to pay for the hospital bills before we were discharged on October 3, 2023.”He said that while his wife’s hand got amputated, he had spent an extra N453,780, lamenting that “Since the time we were in the hospital, I kept calling Dangote orderly to send the money we spent in the hospital but he kept on turning me up and down.

“Up till now, my wife has not recovered properly because they asked us to be returning to the hospital every week for dressing, which involves money but the company has abandoned my wife and I.

“Because of this incident, my mother-in-law died because she had high blood pressure.”SaharaReporters’ several efforts to contact Dangote Refinery for comment and reaction failed as none of its official means of communication was reachable.Calls made to its contact phone numbers provided on its official website did not connect. Similarly, text messages sent to the numbers did not deliver as they bounced back.Also, an email sent to the company’s official communication email did not deliver but bounced back saying, “Your message to communications@dangote.com couldn’t be delivered.

The group communications only accepts messages from people in its organization or on its allowed senders list, and your email address isn’t on the list.”SaharaReporters was also informed that the National Human Rights Commission (NHRC) engaged the company through a letter after an attempt to visit the company’s Ibeju Lekki office was rebuffed by their private security.

However, though the letter was received on March 11, the company has not taken any action on the matter nor given any explanation to why it is no longer taking any action on the issue.SaharaReporters was also informed that on Wednesday, an official of the National Human Rights Commission visited the company’s office at Falomo but the security also refused to allow the government officials access to meet the Head of Legal department of the company on the matter……..