BREAKING NEWS: Traders Sell a Bag of Cement at New Prices As Dangote, BUA, Lafarge Make Over N2trn From Sales

Nigerians react as report shows states with cheapest cement prices after FG agreement<<<READ FULL ARTICLE>>>

BUA Cement also saw its revenue increase to N459 billion in 2023, while Lafarge Africa’s revenue rose to N405 billion.

A further breakdown of the cement companies’ financials reveals that only Dangote Cement recorded a positive profit after tax (PAT) for the year, as the depreciation of the Naira hit other cement manufacturers, Punch reports.

Dangote Cement’s PAT appreciated by 19.17% to N455.58 billion from N382.31 billion in the previous financial year.

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The profit after tax of BUA Cement declined by 31% to N69.4 billion from N101.01 billion recorded in 2022.
Cement price reduction in Northern states.

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EllaNews earlier reported that there is a respite for residents of Northern states as the official price for a bag of cement now stands between N8,000 and N9,500.

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This is a big drop from the N10,500 and N14,000 quoted in Lagos and Ogun States.

Businessday reports that states that have currently experienced reduction include the Federal Capital Territory (FCT), Niger, and Nasarawa States.

The current prices for major cement brands in these states are as follows:

Dangote Cement is between N8,000 and N9,500Lafarge Cement is between N8,000 and N9,300 BUA Cement stands at N7,500 to N9,000.
Cement seller refunds customers N400

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In a similar report, a Nigerian man said he bought cement at N8,200 per bag in Kaduna state, where he lives.

However, when he got home, he received a phone call from the cement seller informing him the price had been reduced to N7,800 per bag.

Ahmad Kargi said he was surprised when the cement seller offered him his N400 balance even after he had left the shop<<<READ FULL ARTICLE>>>