Business
Cement Prices Surge Above N10,000 Across Nigeria
Cement prices in Nigeria rise above N10,000 per bag as Dangote, BUA, Lafarge, and Mangal cite higher production and logistics costs
Cement prices have risen above N10,000 per bag across multiple Nigerian states, affecting major brands including Dangote Cement, BUA Cement, Lafarge Africa and Mangal Cement.
Also read: Olu of Warri Confers Historic Title on Oluremi Tinubu
A market survey by Daily Trust shows prices now range from N10,500 to N11,200 depending on location, brand, and retailer.
Builders, block makers, and private consumers are facing significantly higher construction costs.
In Kwara State, cement that sold for N9,300–N9,700 in January now averages N10,500–N10,700.
In Abuja, BUA cement sells for as high as N11,200 per bag, while Dangote is listed around N10,800–N11,000.
Dealers noted that full truckloads of 900 bags can attract prices near N10,500 per bag, but this is beyond reach for small-scale buyers.
In Lagos State, prices have risen from about N9,000 in December 2025 to N10,000 in January 2026 and now to N11,500 in some areas.
Retailers attributed increases to middlemen, while dealers cited higher logistics, statutory costs, and distributor margins.
Northern states including Kano, Kaduna, and Jigawa also recorded retail prices above N10,500. Block makers are adjusting, raising nine-inch blocks from N750 to N800 in Kano.
Stakeholders warn that the rise could slow down construction projects and weaken purchasing power.
Former president of the Nigerian Institute of Builders, Kunle Awobodu, urged government engagement with manufacturers to ease production costs and improve affordability.
Also read: Olu of Warri Confers Historic Title on Oluremi Tinubu
Industry observers highlighted that weak competition and high market concentration keep cement prices high in Nigeria despite surplus production capacity. Analysts call for competition reforms rather than reopening imports.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
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