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Nairaland Forum / Nairaland / General / Business / Why Exactly Is The Cement Price Going Up This Way? (40220 Views)
BUA Moves To Crash Cement Price To N3,500 After Meeting Tinubu / BUA Promises To Reduce Cement Price / Dangote: Our Cement Price Is Lower In Nigeria Than Other Countries (2) (3) (4)
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Re: Why Exactly Is The Cement Price Going Up This Way? by Menclothing: 11:19am On Feb 17 |
Nigerians are greedy at all level Like leaders like followers 2 Likes |
Re: Why Exactly Is The Cement Price Going Up This Way? by DaTruths: 11:19am On Feb 17 |
Peter Obi stole 30 Trillion Dollars from Anambra State treasury, that's why. And also for obidients that Abuses our lovely president, they won't have the capacity to build house again. Jagaban of Borgu promised to reduce their purchasing power, and that's what he's doing. Jagaban is the biggest politician in Africa, this is politics 404. By the time obidients knows what's happening, they will be drinking gutter water 3 Likes |
Re: Why Exactly Is The Cement Price Going Up This Way? by CHIOMAEZEH: 11:20am On Feb 17 |
Lol.....them dey even sell old stock at new price ....we are greedy as a nation .and agencies meant to enforce market forces to do the right thing are also non existent in the country https://www.youtube.com/watch?v=DAuB6UgR1DU |
Re: Why Exactly Is The Cement Price Going Up This Way? by fmlala: 11:20am On Feb 17 |
Wickedness 1 Like |
Re: Why Exactly Is The Cement Price Going Up This Way? by lexy2014: 11:22am On Feb 17 |
Tituxy: Dangote does not own Nigeria 1 Like |
Re: Why Exactly Is The Cement Price Going Up This Way? by Bullfallo(m): 11:23am On Feb 17 |
Naira has lost value while neighboring countries cefa has appreciated X3 to the naira. Its now profitable to export it. 1 Like 1 Share |
Re: Why Exactly Is The Cement Price Going Up This Way? by Dwaizman(m): 11:25am On Feb 17 |
I once worked in ashaka cement... It's a lengthy essay 1 Like |
Re: Why Exactly Is The Cement Price Going Up This Way? by Nyanabo(m): 11:25am On Feb 17 |
MASTERCHIEF0847: You can make you statements intelligently without abusing anybody. You have a point with what yiy are saying but don't add abuse to your statement. It make you appear unintelligent. 7 Likes 1 Share |
Re: Why Exactly Is The Cement Price Going Up This Way? by Majesty7: 11:25am On Feb 17 |
BluntCrazeMan: Corruption and dead policies. Come to think of it. Cement raw material is usually 90% locally sourced. The only chemical needed to always make it dry quickly is the only foreign material and most of them such as Lafarge and Bua hardly uses it. Why is cement price high? They should just come up with the excuse. Is it the diesel? How many percentage increment do we have on diesel and what should be the average increment on the price? Nigeria is like a dunghill. You can throw in anything and people will swallow it sinker. Likewise some idiots already supporting Dangote to sell at par with the international market. I wonder when production cost in poor countries became at par with developed countries? Nigeria just a dunghill 5 Likes |
Re: Why Exactly Is The Cement Price Going Up This Way? by Flier: 11:26am On Feb 17 |
Dealer are exporting it to neighboring countries because their currency is stronger than our own at the moment so they are making a lot on each bag of cement,that leads to demand higher than supply in Nigeria hence the price increase The same is happening to food at the moment,northerners are selling to neighboring countries Exchange rate need to go down otherwise neighboring countries will start raiding Nigeria to get cheap products there by creating scarcity and price increase in Nigeria 11 Likes 1 Share |
Re: Why Exactly Is The Cement Price Going Up This Way? by nairalanda1(m): 11:28am On Feb 17 |
Simple, cost of production, cost of doing business, cost of even staff salaries LIke someone has already explained here, fuel costs have shot up well well since. Especially since diesel was deregulated a long time ago. Dangote trucks and machinery run on diesel. Add the cost of equipment and machinery, and you get the picture. Add the fact that workers salaries have to be increased at some point... Naira devaluation too obviously knocked things down badly. Especially now since our forex is at an all time low, meaning Nigeria cannot defend naira unless we borrow to do so...which is not a viable option. |
Re: Why Exactly Is The Cement Price Going Up This Way? by emmaitive(m): 11:29am On Feb 17 |
After voting for tiefnubu you are here asking why prices are going up 1 Like |
Re: Why Exactly Is The Cement Price Going Up This Way? by shoodboi2: 11:29am On Feb 17 |
BluntCrazeMan: While Dangote is a Nigerian business on the surface, it is a foreign-owned business underneath. It's machines are foreign, and so are it's top technicians, engineers, and operators. They receive their pay in dollars. The machines and machine parts are also repaired, set up, and maintained in dollars. Many of the raw materials are also affected by the dollar, outside of the limestone, that is. 3 Likes 1 Share |
Re: Why Exactly Is The Cement Price Going Up This Way? by OmoOshodi(m): 11:29am On Feb 17 |
BluntCrazeMan:let him be defending rubb!sh 2 Likes |
Re: Why Exactly Is The Cement Price Going Up This Way? by Flier: 11:30am On Feb 17 |
Majesty7:The price increase has nothing to do with corruption,it’s simply because of demand higher than supply,dealers are now selling their cement to neighboring countries to make double profit because of weak Naira something that is not a crime till government make it a crime 2 Likes |
Re: Why Exactly Is The Cement Price Going Up This Way? by nairalanda1(m): 11:31am On Feb 17 |
Nbote: Tax relief does not mean that prices would go to N3000 per bag, it is probably why the cement isn't above 20000 per bag right now. Add the fact that a lot of the componets that go into making the cement are imported from abroad. If Nigeria was making the equipment Dangote was using, even I myself would be asking questions, but they are not. Then salaries have to go up, Dangote workers live in Nigeria, most of them spend in naira. Naira value is falling, and salaries have to go to keep up. |
Re: Why Exactly Is The Cement Price Going Up This Way? by Flier: 11:32am On Feb 17 |
nairalanda1:The price increment isn’t from factory,it’s from distributors and dealers. 7 Likes |
Re: Why Exactly Is The Cement Price Going Up This Way? by bluecircle470: 11:33am On Feb 17 |
MASTERCHIEF0847: Shut up and stop saying nonsense 2 Likes 1 Share |
Re: Why Exactly Is The Cement Price Going Up This Way? by crossbreedwears(m): 11:33am On Feb 17 |
Would you tell your son same thing ifbhe asked you this question? Passionnn: |
Re: Why Exactly Is The Cement Price Going Up This Way? by Tradepunter2: 11:33am On Feb 17 |
MASTERCHIEF0847: Men STFU..... So all of a sudden the need to import teg equipment came up Haven't these equipment been on ground for a while?? Isn't maintenance the daily monthly and periodical cost associated with the equipment..... Una go just to justify nonsense.... Enjoy your suffering na nonsense 4 Likes |
Re: Why Exactly Is The Cement Price Going Up This Way? by Badgers14: 11:35am On Feb 17 |
MASTERCHIEF0847: Why would anyone working in Nigeria be paid in foreign currency? Do Nigerias working in US paid in naira or Euro? Are expatriate working in UK paid in dollars or yen? 5 Likes 1 Share |
Re: Why Exactly Is The Cement Price Going Up This Way? by ALLNIGERIANSMAD(m): 11:35am On Feb 17 |
MASTERCHIEF0847:are you normal? Why are you defending evil, with the free cement parent raw materials, 50kg shouldn't be more than #2000 even with cost you mentioned so far. Just tell the oppressor to kill everyone then so they can be fine. 2 Likes |
Re: Why Exactly Is The Cement Price Going Up This Way? by DARLINGTON869(m): 11:36am On Feb 17 |
Cost of transporting these cement from the factories to different parts of Nigeria is the main reason. A litre of diesel is over 1000 naira now. If they tell you how much diesel a 10 ton HOWO truck consumes to transport 5000 bags of cement across Nigeria, fear go catch you self. Business in Nigeria is not easy. Whether you go large scale or small scale. 1 Like |
Re: Why Exactly Is The Cement Price Going Up This Way? by hamtabfawaz(m): 11:36am On Feb 17 |
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Re: Why Exactly Is The Cement Price Going Up This Way? by nairalanda1(m): 11:37am On Feb 17 |
Flier: Yeah, and the price of the fuel they use to transport the cement stuff to end users from the factory..? Gone up. Things like workers salaries at the factory...probably going up because country hard., and workers better get paid well or else. Cost of maintaing machinery? Gone up. I also suspect some of the expat workers are being paid in dollars and so. Even that transport, the further it gets from the factory, the more the cost of transport rises. DIstributor is not just paying for the cement, he or she is paying for its cost of transport. DIesel prices have been going up, even before TInubu's latest partial subsidy removal. The price increase is a reflection of decades of bad government polices on the economy. We rely on oil for evereything, and when oil prices crash, we borrow to the hilt. We are seeing the end result..inflation, reduced value of the naira, reduced money for subsides....kapoom..bad economy. 1 Like |
Re: Why Exactly Is The Cement Price Going Up This Way? by Ologbo147: 11:37am On Feb 17 |
Feldie:really what changed masterchief0847? If dollar was already 1350 as at October last year and diesel was 1200 yet cement was sold for 4800, what changed? |
Re: Why Exactly Is The Cement Price Going Up This Way? by blacknp(m): 11:37am On Feb 17 |
GanagiBitrus:Very good question. 1 Like |
Re: Why Exactly Is The Cement Price Going Up This Way? by FireUpNow(m): 11:37am On Feb 17 |
Oxb90: Baba I beg to disagree with you on this. The cost of production and running of business in Nigeria of today is above the ceiling and no businessman wants to run his business at loss. Harsh economic policies, no steady power supply, transportation and over head cost 2 Likes 1 Share |
Re: Why Exactly Is The Cement Price Going Up This Way? by waveman2: 11:38am On Feb 17 |
I believe the increase in price is actually caused by scarcity of the product.The federal govt have started using cement to make concrete road which have increased the demand for the product.But other little factors like cost of diesel etc also add up which may not be too significant. 2 Likes |
Re: Why Exactly Is The Cement Price Going Up This Way? by kpompey: 11:39am On Feb 17 |
MASTERCHIEF0847: So gypsum is not available in Nigeria.Dangote spokesman. He is a greedy man. Virtually every thing you listed up there can be sourced in Nigeria, and nothing warrants cement price to surge to 16k 1 Like |
Re: Why Exactly Is The Cement Price Going Up This Way? by ZaddyJ: 11:43am On Feb 17 |
Passionnn:Umm I ve Google it and I discovered that Seyi Tinunbupoop and Iyabo ojo tinubupoop own it. Na wa oo |
Re: Why Exactly Is The Cement Price Going Up This Way? by geezyk(m): 11:44am On Feb 17 |
MASTERCHIEF0847:Bro, when diesel price increased to 1000 was when a bag of cement hovered around 4-5k. The major component for cement, limestone and gypsum are available in large quantities in Nigeria, machinery for mining the materials are not bought everyday, service and maintenance are what's required of the machinery. Expats are paid in dollars alright, but doesn't make it right for the surge increase. For the price of cement to quadruple within a week, then there's an invisible force behind it. 2 Likes |
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