According to Nigeria's Business Daily, since the beginning of 2015, domestic cement prices in Nigeria have risen rapidly from the low level in the fourth quarter of last year. At present, the average price of 50 kilograms of cement loaded by Dangote Company, the largest cement producer in Nepal, is 2000 naira (about $11), the price of Lafarge Company, the second largest cement producer, is about 1950-2000 naira, and other cement producers follow suit. In November 2014, Dangote cut the price of cement by 40%, and the price of 50 kilograms of cement dropped to 1000-1150 naira, triggering a comprehensive price reduction in the cement industry in Nepal.
Market analysts believe that despite the rapid growth of production capacity in the cement industry in Nepal, the recent depreciation of the naira and the political situation of the general election have led to a rebound in prices. The middleman also confirmed that the ex-factory price of cement has risen by about 40% in the past two weeks.
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