BUA Cement has stated that the price of cement in Nigeria will decline only when production and logistics costs come down, driven by foreign exchange stability and lower energy expenses.
The company’s explanation comes amid public frustration over persistently high cement prices, which have made housing construction unaffordable for many Nigerians.
BUA noted that the naira’s volatility and rising gas prices have pushed up manufacturing costs, forcing producers to adjust prices.
While the federal government has urged cement makers to reduce prices, manufacturers argue that they cannot absorb losses indefinitely.
Many Nigerians have accused cement companies of profiteering, but BUA insists the market determines prices.
The high cost of cement has stalled numerous building projects and deepened the housing deficit. Consumers are hoping that ongoing government efforts to stabilise the forex market and improve energy supply will eventually lead to cheaper cement. Until then, the burden remains on ordinary Nigerians.
