Nigerians groan as cement price skyrockets to N6,500 per bag amid forex woes, inflation - Newstrends
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Nigerians groan as cement price skyrockets to N6,500 per bag amid forex woes, inflation

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Bags of cement

Nigerians groan as cement price skyrockets to N6,500 per bag amid forex woes, inflation

Just over two months, there has been a significant surge in the retail price of cement in Nigeria. Formerly N5,000 per bag in December 2023, the cost has escalated to N6,500 in different parts of the country

Investigations reveal that the Cement Manufacturers Association of Nigeria (CMAN) has increased prices by over N1,000 per bag for respective brands.

As a result, retail prices have surged to N6,200 or higher in Lagos and the Southwest, while in the Southeast and Abuja, they have surged to as much as N6,500 or even more.

Major cement producers in Nigeria

According to Leadership, the cement industry in Nigeria is primarily dominated by three key players. Leading the pack is Dangote Cement Plc, which holds a commanding 60.6% market share.

Dangote Cement has an impressive local installed capacity of 29.3 million MT.

Following closely behind is Lafarge Africa Plc, with a 21.8% market share and a production capacity of 10.5 million MT. Completing the trio is BUA Group, accounting for 17.6% of the market share.

Cost of blocks affected by cement price hikes

The latest changes in the market have affected the pricing of concrete blocks significantly. Manufacturers have responded by revising their prices, resulting in an increase in the cost of a six-inch block from N450 to N500 and a rise in the price of a nine-inch block from N550 to N600 per unit.

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Moreover, there has been a notable uptick in the price of ready-mix concrete, and the expenses related to in-situ concrete production are anticipated to increase substantially.

This surge in costs is expected to worsen the economic challenges, leading to higher prices for new homes, elevated rental rates, and increased maintenance costs.

Consumers lament rising cost

Last year, Abdulsamad Rabiu, the chairman of BUA Group, announced a reduction in the cost of a bag of BUA cement from N5,000 to N3,500.

While the announcement was well received, many Nigerians quickly mounted pressure on Dangote Cement to also do the same, but the company declined, insisting that its product sold for far less than in other African countries.

Despite Rabiu’s announcement of a price reduction, investigations showed that retailers were still selling at higher prices, citing expenses along the supply chain.

The recent spike in the price of the product has generated serious concern amongst retailers, builders, block moulders and even average consumers.

Speaking with Legit.ng, Micah Akinloye, PRO of Akerele Block Manufacturers Association, expressed concern over the persistent increase in cement prices, highlighting its adverse impact on association members’ production output and income.

He said:

Cement prices have become so expensive and it is affecting how much we can make from the production of blocks. This has also affected how lucrative block production used to be. Because the hike in cement prices and every other building materials in the market, patronage has become very low.

Akinloye appealed to the Federal Government to intervene by issuing additional licenses to industrialists for cement production.

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In 2023, the Cement Producers Association of Nigeria cautioned about the Federal Government’s proposal to implement concrete roads, forecasting a potential increase in cement price to N9,000 per bag from the current N5,000 price.

In a statement, they also urged the current administration to take decisive action to resolve the recurrent issue of cement price hikes by promoting wider involvement in the cement industry.

They emphasized that Nigerians should not have to pay more than N5,600 per bag for cement.

Builders ask FG to slash cement price

In related news, Legit.ng reported that the Lagos Chapter of the Nigerian Institute of Building has called on the federal government to intervene and lower the cement price in the country.

The institute stated this at a briefing in Lagos state ahead of its 32nd Builders Conference tagged “Safe and Sustainable Building Production Management.”

They attributed the skyrocketing cement prices to poor foreign exchange, adding that this has taken a toll on producers.

Nigerians groan as cement price skyrockets to N6,500 per bag amid forex woes, inflation

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ACF hails 19 Northern governors for launching Northern Nigeria Security Trust Fund

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ACF hails 19 Northern governors for launching Northern Nigeria Security Trust Fund

ACF hails 19 Northern governors for launching Northern Nigeria Security Trust Fund

The Arewa Consultative Forum (ACF) has commended the 19 Northern governors for establishing the Northern Nigeria Security Trust Fund (NNSTF), describing the initiative as a landmark regional response to the growing security challenges confronting Northern Nigeria.

The forum said the creation of the trust fund demonstrates the governors’ commitment to complementing the efforts of federal security agencies in tackling terrorism, banditry, kidnapping, cattle rustling, communal violence and other criminal activities that have continued to threaten lives, livelihoods and economic development across the region.

In a statement issued in Kaduna on Friday, Chairman of the ACF Board of Trustees, Bashir Dalhatu, said the initiative reflects a shared understanding among Northern leaders that insecurity can only be addressed through sustained collaboration, adequate funding, innovation and stronger partnerships between governments, security agencies, traditional institutions and local communities.

Dalhatu described the trust fund as a strategic intervention that would mobilise additional financial resources to strengthen regional security architecture and improve the operational capacity of security agencies working across the North.

According to him, years of insecurity have inflicted enormous human and economic costs on the region, forcing thousands of residents to flee their communities, disrupting farming activities, discouraging investments, affecting interstate commerce and slowing overall economic growth.

He stressed that restoring peace remains critical to achieving food security, improving agricultural productivity, creating employment opportunities and attracting both local and foreign investments to Northern Nigeria.

The ACF chairman expressed confidence that the Northern Nigeria Security Trust Fund would enhance intelligence gathering, surveillance operations, operational logistics, communication systems and the deployment of modern security technologies needed to combat emerging security threats.

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He added that the initiative would also strengthen community-based security mechanisms, improve coordination among security agencies and provide assistance to victims of attacks, while supporting ongoing efforts to restore peace in troubled communities.

Dalhatu congratulated members of the newly inaugurated Board of Trustees of the trust fund, expressing optimism that they would provide transparent, accountable and effective leadership in managing the initiative.

He specifically congratulated the Co-Chairmen of the board, Yayale Ahmed and retired General Martin Luther Agwai, describing them as accomplished public servants whose extensive experience in governance, public administration and national security would strengthen public confidence in the management of the fund.

He urged the governors to sustain the political will that gave birth to the initiative by ensuring prudent utilisation of resources, strict accountability and transparency in all financial transactions.

According to him, the trust fund must remain focused on its core objectives of protecting lives and property, supporting security operations, rebuilding communities devastated by violence and creating an enabling environment for sustainable economic and social development.

“The people of Northern Nigeria deserve to live peacefully, cultivate their farms without fear, carry out legitimate businesses safely and travel freely across the region without constant security concerns,” Dalhatu said while reaffirming the forum’s commitment to supporting credible efforts aimed at ending insecurity.

The ACF’s endorsement follows the formal inauguration of the Northern Nigeria Security Trust Fund by the Northern States Governors’ Forum (NSGF) in collaboration with the Northern Traditional Rulers’ Council during a high-level meeting held at the Sir Kashim Ibrahim House in Kaduna.

At the meeting, the 19 Northern governors unanimously approved a monthly contribution of ₦1 billion from member states to finance the trust fund and strengthen regional efforts to combat insecurity. The governors explained that the initiative would complement federal security operations through improved intelligence sharing, enhanced logistics, technological surveillance and stronger collaboration among states in addressing cross-border criminal activities.

The governors also reiterated the need for broader security reforms, including improved policing, enhanced intelligence coordination and greater investment in modern security infrastructure to address evolving threats across the region.

Security experts and stakeholders have welcomed the initiative, describing sustainable funding, regional collaboration and community participation as essential components in addressing the complex security challenges facing Northern Nigeria. They, however, stressed that effective implementation, transparency and accountability would determine the long-term success of the trust fund.

As insecurity continues to affect farming, education, transportation and commercial activities across several Northern states, many residents and development partners are expected to closely monitor the implementation of the initiative and its impact on improving safety, restoring confidence and accelerating economic recovery.

ACF hails 19 Northern governors for launching Northern Nigeria Security Trust Fund

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BREAKING: Kidnapped Oyo Pupils, Teachers Regain Freedom After 55 Days + VIDEO

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BREAKING: Kidnapped Oyo Pupils, Teachers Regain Freedom After 55 Days + VIDEO

Kidnapped Oyo Pupils, Teachers Regain Freedom After 55 Days

– Eight Arrested, Several Neutralised

The pupils and teachers abducted from three schools in Oriire Local Government Area of Oyo State have regained their freedom after spending 55 days in captivity, the Presidency has confirmed. The release was announced on Friday evening by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, in a post on his verified X handle: “Finally, all the kidnapped pupils and teachers in Orire, Oyo have been rescued by our security agencies”. The announcement brought relief to families who had endured nearly two months of agonising uncertainty, with communities across Oyo State celebrating the safe return of their loved ones.

A total of 46 people—comprising 39 pupils and seven teachers—were abducted when gunmen launched simultaneous attacks on Baptist Nursery and Primary School (Yawota) , Community High School (Ahoro-Esinele) , and L.A. Primary School (Ahoro-Esinele) on May 15, 2026. The Defence Headquarters later identified the abductors as dislodged members of Boko Haram, confirming that the terrorists had crossed into Oyo State from the North-East after being displaced by sustained military operations. The kidnapping triggered widespread concern and prompted the Nigeria Union of Teachers (NUT) to declare a statewide strike in Oyo, which was later suspended following assurances from the Oyo State Government on improved security measures.

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In a follow-up post, Onanuga provided further details on the operation, stating that eight of the kidnappers were arrested and are now in DSS custody, while some others were neutralised during the rescue. He emphasised that “there was no quid pro quo in the rescue” and that the kingpin whose release the kidnappers had demanded remains under prosecution for his terrorist activities. The rescue followed months of coordinated operations involving security forces from the Office of the National Security Adviser (ONSA) , the State Security Service (SSS) , the Nigerian Army, and other security agencies, with sources familiar with the operation telling Premium Times that several terrorists were killed during the rescue mission.

The abduction triggered widespread concern, especially after one of the abducted teachers, Michael Oyedokun, was reportedly killed and his execution shown in a disturbing video released by the kidnappers. During the 55-day ordeal, security forces faced significant challenges, with Minister of Defence Christopher Musa revealing that the kidnappers had threatened to kill all the children if troops advanced on their hideout. The abductors were reportedly seeking the release of detained terrorist commanders, including Mahmud Usman (also known as Abu Bara’a or Abbas Mukhtar) and his deputy Abubakar Abba (also known as Isah Adam or Mahmud Al-Nigeri), both senior members of the Jama’atu Ansarul Muslimeena Fi Biladis Sudan (Ansaru) faction of Boko Haram.

Following their release, one of the rescued teachers expressed gratitude to President Bola Tinubu and security agencies in a video shared by the Presidency. The teacher praised the security operatives involved in the operation, saying: “Every security operative tried so much and that is why we are still alive now”. The Oyo State Government has previously denied claims of ransom payment, describing such reports as “false, misleading and a deliberate attempt to misinform the public”. As of the time of this report, full details of the rescue operation—including where the victims were found—remain unclear. Authorities are expected to provide further information in the coming hours as investigations continue into the circumstances surrounding the 55-day captivity ordeal.

BREAKING: Kidnapped Oyo Pupils, Teachers Regain Freedom After 55 Days

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INEC Disowns Fake CVR Portal, Warns Nigerians of Phishing Scam

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INEC Disowns Fake CVR Portal, Warns Nigerians of Phishing Scam

INEC Disowns Fake CVR Portal, Warns Nigerians of Phishing Scam

The Independent National Electoral Commission (INEC) has disowned an online portal for the ongoing Continuous Voter Registration (CVR) exercise currently circulating on social media platforms, describing it as a phishing scam designed to harvest the personal data of unsuspecting citizens. The Commission’s Deputy Director of Information and Publicity, Wilfred Ifogah, issued the warning in an interview in Abuja on Thursday, urging Nigerians to exercise caution and ignore the fraudulent message. The viral post, titled “INEC ONLINE VOTERS REGISTRATION 2026 ONGOING,” has been widely shared on WhatsApp and other digital platforms. It directs users to the fraudulent website https://linksnapro.com/cvrreg, falsely claiming that the registration deadline is August 17, 2026. The post also falsely states that the home addresses provided by applicants would be used to deliver their Permanent Voter Cards (PVCs).

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Ifogah advised members of the public to disregard the message and avoid clicking on the link, warning that doing so could expose users to identity theft and cyber fraud. He emphasised that INEC does not use third-party blogging links or private URLs for official exercises, nor does it deliver PVCs to private residences. The only official and approved INEC portal for all voter registration activities, including updates, transfers, PVC replacement, and registration centre location, remains https://cvr.inecnigeria.org. Ifogah urged citizens to verify all electoral information through INEC’s official website inecnigeria.org or its verified social media handles.

The warning comes as the Commission recently extended the nationwide CVR exercise by two weeks and introduced a self-service online registration option for eligible first-time voters. The exercise, which began on August 18, 2025, was originally scheduled to end on July 10, 2026, but will now close on Friday, July 24, 2026. The new self-service portal, launched on July 8, 2026, allows eligible citizens to initiate and complete their voter registration, including biometric capture, using their personal devices without visiting an INEC office. This development is part of INEC’s broader efforts to leverage technology to enhance voter participation and make the registration process more accessible to Nigerians across the country.

INEC Disowns Fake CVR Portal, Warns Nigerians of Phishing Scam

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