JUST IN: Despite N7,000 Agreement With Manufacturers, Cement Sells For N11,000 In Lagos
Findings have revealed that despite the agreed price of N7,000 for cement with manufacturers, it is still being sold at a higher rate ranging from N10,000 to N11,000 in the Idimu area of Lagos state.
According to The Nation, a retailer known as Alhaja dismissed the reports of the N7,000 price, labeling it as false information.
She explained that during negotiations with the Federal Government, Dangote shut down all payment portals. When they were eventually reopened, the price had been increased once more.
She said: “Even BUA which was selling for N3,500 was the first to hike prices. In fact, the Dangote payment portal was blocked last week, only for them to reopen it and the price was increased by another N400. All the noise of N7,000 is just in the media, it’s not real.
“But we pray and hope it is effected soon enough because this price hike is really slowing down business.”
According to the report, the owner of an outlet who spoke on the condition of anonymity said: “At this point, I don’t know what else to do. Cement is off-limit for now because I don’t even know how to restock. The N7,000 price being bandied in the news is unreal. The price was increased by N400 after manufacturers met with the government. We just hope things return to normal as soon as possible.”
