The high price of cement and sugar in the country has been attributed to the higher demand over supply of the product.
One of the major cement production firms, BUA Cement Plc has explained that the price of cement is high in Nigeria today simply because Nigeria doesn’t have enough supply.
According to BUA: “In Nigeria, every day people come up to say we are self-sufficient in cement and that Nigeria can now start exporting cement; it not true. Look at the numbers: Nigeria is over 200 million people today in terms of its population. If you look at the production of cement, last year, we were under 30 million tonnes. In fact, last year was higher than the year before. Which means that in 2019, we were doing between 26 million and 27 million. I am talking about production, and not installed capacity, which is another thing entirely. I am talking about actual cement production.”
The firm stated that Nigeria is 200 million…
Source: Vanguard Newspaper