• Tuesday, May 21, 2024
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Top 5 cement manufacturers in Nigeria and current prices

Top 5 cement manufacturers in Nigeria and current prices

Nigeria is a country with more block houses than wood. The country’s weather conditions do not completely support wooden buildings.

For an extremely tropical country like Nigeria, composed of two major seasons— dry and rainy–sturdy houses built with cement bring more naira and kobo to real estate investors.

Cement, a leading commodity in Nigeria’s real estate market has made the product both demanding and competitive.

It is a widely used binder in Nigeria’s constructions; houses and roads and is produced from materials like limestone, clay, shells, and chalk.

Just recently, Doris Uzoka-Anite, minister of Industry, Trade and Investment along with David Umahi, minister of works decried the hiking rise in cement prices across the country.

Africa’s most populated nation majorly uses locally sourced materials for its cement production and also exports to other neighbouring countries. Hence the industry’s ongoing hike in price is deemed unnecessary.

The cement industry in Nigeria faces diverse competition within itself, however, some cement over time have become known for their effectiveness in getting the work done and adhesiveness in plastering walls.

They have also come to be regarded as household names both within the industry and amongst Nigerians.

BusinessDay delves into some of these companies with their prices based on our market survey.

Read also: 5 takeaways from FG, cement manufacturers meeting on price

Dangote Cement Plc

Owned by multi-business, and Africa’s all-time richest man, Aliko Dangote, Dangote Cement Plc subsidiary of Dangote Industries Limited, tops Nigeria’s cement-producing companies.

The company was created on 4 November 1992 and has branches in over ten African countries.

It is Nigeria’s number one manufacturer and distributor of cement used in building construction and is a known household name in homes.

With its headquarters in Lagos, a bag of Dangote 50kg cement today sells for N12,500 (market price), a price the minister of Industry, Trade and Investment has said should be reduced to less than N10,000.

Due to the demand and supply of its market, the price of Dangote’s cement differs from seller to seller.

BusinessDay’s market survey shows that this cement brand is commonly demanded because of how durable it is and how fast it dries after plastering.

Lafarge Africa Plc

Lafarge Africa, popularly referred to as ‘Elephant Cement’ owing to its legendary logo of an elephant, comes after Dangote as a top cement-producing company in Nigeria.

It is a member of the Holcim Group and is believed to be Nigeria’s “most commonly” used cement for building houses.

Aside from Elephant Cement, Lafarge also has other kinds of cement under its brand, made for different purposes.

Omonike Faidija who works as a Quantity Surveyor said “People prefer to use Lafarge because of how durable it is,” she said. “While it might take about 24 hours to get dried after plastering, you can be sure of a building that will last.

Today, a 50kg bag of Elephant cement sells between N12,000 to N14,000 due to price irregularity in the industry and across the country.

BUA Cement Plc

A subsidiary of BUA Group owned by Abdulsamad Rabiu, BUA cement, considered a top-class brand in Nigeria, is preferred for its extreme affordability.

It is still considered to be Nigeria’s cheapest cement despite galloping prices in cement.

Today, the price for a 50kg bag is between N10,000 and N11,000, depending on the seller and location.

Ibeto Cement

Owned by Cletus Madubugwu Ibeto, Ibeto Cement is just one of the Ibeto Group subsidiaries.

It was established in 1970 and gained popularity in the market with its automotive business side of the company which is still a major part of the Ibeto Group today.

Ibeto cement is regarded as Nigeria’s go-to cement due to its “cheap” price and its ability to get work done.

A 50kg bag of Ibeto cement today costs between N10,000 and N11,000.

United Cement Company of Nigeria Limited (UniCem)

UniCem, an acronym for United Cement Company of Nigeria, is a leading cement company in eastern Nigeria. It is another cement brand under the Lafarge Group.

It is believed to be suitable for both general and structural purposes.

As of today, a 50kg bag costs between N12,000 to N14,000 depending on your location across the country.

The Manufacturers Association of Nigeria has agreed to slash the prices of cement by half to make average Nigerians able to own their homes and to help “bridge the gap between the poor and rich.” However, this is only after the federal government interventions are fulfilled.