The price of a 50kg bag of cement costs N9500 in many retail outlets in Lagos, further exacerbating the effects of inflation in the country.
According to Nairametrics, the price in many retail shops in Lagos, since January, has risen from around N6,000 to N6,500 to over N9000 as of today.
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The sporadic rise in the price of the product has made some retailers halt selling fearing they might see increased prices in the near future.
An earlier statement by the Cement Producers Association of Nigeria had warned that cement prices may hit N9,000 from around N5000 then over the federal government’s insistence on building roads with concrete.
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