Cement Prices Stay High as Costs, Profits and Competition Face Scrutiny

Cement prices remain elevated in Nigeria, with recent market estimates placing a 50kg bag at roughly ₦12,000–₦13,000 in several major cities. Prices vary by location, brand and delivery arrangements. Meanwhile, Dangote Cement, BUA Cement and HBM Nigeria reported combined nine-month revenue of about ₦5.79 trillion and profit after tax of about ₦1.71 trillion in 2026. These group results include operations beyond Nigeria and do not, on their own, prove excessive pricing or anti-competitive conduct. Dangote Cement and BUA Cement reported combined energy expenditure of ₦797.1 billion for the first nine months of the year. The figure includes Dangote’s operations outside Nigeria, so it is not a Nigeria-only industry total. Energy, exchange rates, transport and logistics are among the costs manufacturers have cited as contributing to prices. The FCCPC has said it is investigating possible price manipulation and competition concerns. Its findings are preliminary, not a final determination. The article examines how production efficiency, domestic supply, distribution costs and high borrowing costs could affect cement affordability and construction budgets.

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