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Why we cannot sell cement below N7,000, by Dangote, Bua, Lafarge

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Cement price hike: FG threatens to open borders
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Cement manufacturers have said a surge in their operating costs was responsible for the sudden increase in the prices of the commodity around the country.

They have however agreed to bring down the price of the product from between N9,000 to N15,000 to between N7,000 and N8,000 per 50kg depending on the location nationwide.

This development emerged after a meeting by the Minister of Works, David Umahi attended by his Industry, Trade and Investment counterpart, Doris Uzoka-Anite on Monday in Abuja with representatives of Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc.

After almost three hours of discussion, the Works Minister read the communique of the meeting where the cement manufacturers explained the reasons why the price could not be lower than N7,000 for the time being and why it went up astronomically in the first place.

The manufacturers noted that the challenges of the high cost of gas, import duties, bad road network and the prevailing high rate of foreign exchange against the naira are militating against an instant drop in the price of the commodity.

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Kabir Rabiu, the Executive Director of BUA said the meeting was extensive but the manufacturers would abide by the agreement.

According to him, the manufacturers were helpless over the issue of the surging prices.

He said: “First our cost component of energy went from 39 percent to 60 percent because of gas.

“The price of gas last year was 415, then to N715, today we are paying more than N1,500. All these issues were discussed and we gave our commitment.

“When our 6 million tonnes of cement is supplied to the market in the few weeks, definitely we will see a sharp drop in prices when that volume hits the market”.

He said the big disparity between demand and supply also played a major role in the price surge considering the season too.

According to him, some manufacturing plants have issues and cannot produce probably by choice or accident, which leads to a reduction in production.

“And being the highest period of cement demand in the country, the tendency that demand will outstrip supply will push the price up,” he added.

He also noted that smuggling across the border contributes to the scarcity of the commodity which added to the surge in price.

He said the commodity is much costlier in Cameroon, for instance, which makes Nigerian cement a target for cross-border smuggling to Cameroon and other neighbouring countries.

The representative of Dangote Cement Plc, the Group Managing Director/Chief Executive Officer,  Arvind Pathak, said notwithstanding that the core materials of the commodity are locally sourced, he said spare parts, among several other variables are subject to the mechanism of Import Duties and foreign exchange which makes it difficult for the manufacturers to disregard the prevailing economic indices.

Parts of the communique read by Umahi read:  “The government and the manufacturers noted that depending on the location, ideally, the price should not be more than N7,000 and N8,000 to get to the consumer per 50 kg bag of cement.

“The manufacturers, BUA Cement Plc, Dangote Cement Plc and Lafarge Africa Plc have agreed to have their cement price nationwide to between N7,000 and N8,000 per 50kg depending on the location.

“Between the Federal government and cement manufacturers to set up a price monitoring mechanism to ensure compliance for the price we have set today and manufacturers have accepted to sanction, on their own, any of their distributors or retailers found wanting.

“Government expects the agreed price to drop after securing government’s interventions on the challenges of the manufacturers on gas, import duty, smuggling, and better road network.

“It was also agreed that the government will encourage the emergence of at least six cement manufacturers to augment the three existing companies.”

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Dollar to Naira exchange rate today, September 23, 2026

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Naira rebounds to 1,275/$ at parallel market
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The Nigerian naira is trading at different rates against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Wednesday, September 23, 2026.

The latest available data show that the naira strengthened to N1,327.78 per dollar at the NFEM on Tuesday, from N1,329.80 recorded on Monday.

The latest movement represents a N2.02 appreciation by the naira against the dollar on a day-to-day basis.

In the parallel market, the dollar was quoted at about N1,389 on Tuesday, down from N1,390 recorded the previous day.

The parallel-market rate puts the gap between the official NFEM rate and the street-market selling rate at about N61.22 per dollar.

At the parallel market rate of N1,389, customers buying $100 would need approximately N138,900, while $1,000 would cost about N1.389 million.

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The exchange rate available to individuals and businesses may vary depending on the dealer, location, transaction size and prevailing market conditions.

The naira’s recent performance has come amid developments in Nigeria’s foreign exchange market, including changes in dollar liquidity and monetary policy.

The Central Bank of Nigeria has continued to monitor conditions in the foreign exchange market as the naira trades around the N1,300-per-dollar level at the official market. Reuters also reported in September that the naira had remained relatively stable, supported by central bank dollar sales and subdued import demand.

For Wednesday, September 23, the latest confirmed figures put the dollar at N1,327.78 at the NFEM and around N1,389 in the parallel market.

The rates could change during the day as demand and supply conditions shift across both markets.

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Enugu Air Launches New Website

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…moves online services to www.enuguairlines.ng

Enugu Air has announced the launch of its new official website, enuguairlines.ng, as part of efforts to provide passengers and customers with a better, safer and more convenient digital experience.

The airline said the migration to the new website is designed to improve how passengers connect with Enugu Air and access its services online, including flight bookings, schedules and the latest updates.

Announcing the development, the airline said: “We’ve moved! We’re innovating! We’ve migrated to a better, safer and convenient website to connect you to the world.”

Passengers can now access Enugu Air’s online services through its new web address, enuguairlines.ng, which the airline described as its new digital home.

The airline urged passengers and prospective travellers to save the new web address and use it for flight bookings, checking schedules and obtaining the latest information about its operations.

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“Same Enugu Air. New web address,” the airline stated, emphasising that the change represents an improvement in its digital platform while retaining the Enugu Air brand and services.

The airline further encouraged customers to visit, www.enuguairlines.ng for all flight-related information and online services.

It further stated that the old website, enuguairlines•com has been discarded and no longer in use.

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Nigeria records 8.51m terabytes of data use in first half of 2026

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Nigerian Communications Commission
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Nigerians consumed a record 8.51 million terabytes of data in the first half of 2026, underscoring the country’s accelerating shift toward a digital-first economy.

Data from the Nigerian Communications Commission (NCC) confirmed this. Specifically, in January, consumption was 1.385 million terabytes; February, 1.260 million terabytes and March, 1.422 million terabytes.

In April, consumption was 1.414 million terabytes. It climbed to 1.504 million terabytes in May and 1.532 million terabytes in June.

In 2025 alone, Nigerians consumed over 13.2 million terabytes of data, a 35 per cent increase from 2024, reflecting how connectivity has become essential for daily life.

The surge in consumption was driven largely by the twin giants of the telecom sector, MTN Nigeria and Airtel Nigeria, whose half-year reports revealed data services have firmly overtaken voice as the primary revenue stream.

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According to industry figures, average monthly data usage per subscriber rose sharply, reflecting the growing reliance on mobile broadband for work, entertainment, and commerce.

Streaming platforms, social media, fintech apps, and remote work tools have all contributed to the spike in demand.

MTN Nigeria reported that its 55.7 million active data subscribers consumed an average of 14.8 gigabytes per month, representing a 15.2 per cent increase year-on-year. Overall, MTN’s data traffic surged by 25.8 per cent across its network in the period.

This translated into a massive N1.70 trillion in data revenue, a 38.4 per cent jump compared to the same period in 2025. Data now accounts for more than half of MTN’s total service revenue, dwarfing its voice earnings of N993.5 billion, which grew at a modest 12 per cent.

Airtel Nigeria also posted strong numbers, recording N691 billion in data revenue ($507 million). While Airtel’s voice services contributed to a combined N1.42 trillion in voice earnings alongside MTN, the clear trend is that data has become the dominant driver of growth.

Together, MTN and Airtel generated N2.4 trillion from data services in H1 2026, cementing their role as the backbone of Nigeria’s digital economy.

MTN invested N620.5 billion in capital expenditure during the period, focusing on expanding 4G coverage, scaling 5G rollout, and strengthening fibre infrastructure. The company’s aggressive push into next-generation networks is aimed at meeting the surging demand for high-speed connectivity.

Airtel, meanwhile, faced challenges with fibre cuts and vandalism, forcing reinvestments to stabilize its network. The operator is blending 5G expansion with satellite partnerships to extend coverage into rural and semi-urban areas, where demand for reliable Internet is rising.

Despite these investments, many consumers continue to express dissatisfaction with service quality. Complaints of slow speeds, unstable connections, and high costs remain widespread, highlighting the gap between consumption growth and infrastructure capacity.

The NCC has repeatedly urged operators to deepen investments in fibre, towers, and spectrum to sustain the country’s digital transformation. Analysts note that the sector is undergoing a structural shift from voice-first to data-led growth, with internet connectivity now central to economic activity.

Industry experts predict that Nigeria’s data consumption will continue to rise exponentially as smartphone penetration increases and more services migrate online. The rollout of 5G is expected to further accelerate usage, enabling innovations in fintech, e-commerce, healthtech, and entertainment.

The consumption of 8.51 million terabytes in H1 2026 marks a historic high for Nigeria’s telecom industry. It reflects not only the appetite of a digitally hungry population but also the broader transformation of the economy.

With MTN and Airtel leading the charge, the challenge now lies in improving service quality, expanding infrastructure, and ensuring affordable access for millions of Nigerians. As data becomes the lifeblood of communication and commerce, the telecom sector’s ability to keep pace with demand will determine how effectively Nigeria harnesses the opportunities of the digital age.

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