Dangote Reacts To High Cement Price Criticism
LAGOS AUGUST 31ST (NEWSRANGERS)-Dangote Cement Plc has said that its cement price is in line with or lower than prices across the West African coast.
The company also said that the price of a bag of cement from its factories across Nigeria had not increased, contrary to viral reports across various media.
There had been widespread criticism directed at the company over the disparity of the price of its cement in Nigeria, compared to other West African countries.
However, a statement by the company said as of Monday, the price of Dangote Cement was N4,010 in Okpella, and N4,640 in Ibese, Objana, and Gboko.
The statement noted that including transportation costs and the location of delivery, prices could range between N5,000 to N5,300 per bag.
The company said the clarification was made in view of recent misinformation that the company sold cement in Nigeria at significantly higher prices relative to other countries, particularly the Republic of Benin, and other neighbouring countries.
According to Dangote Cement’s Group Managing Director, Mr Arvind Pathak, it was important to distinguish Dangote Cement’s ex-factory prices from prices at which retailers sold cement in the market.
The company said that its check in Cotonou, the commercial capital of the Republic of Benin indicated that cement sold between CFA 3,495 and CFA 4,500, which at the current exchange rate of CFA 1: NGN 1.43, was between N4,997 to N 6,435 per bag.
Pathak said, “We continue to innovate new ways to deliver quality products to millions of our customers across Africa, while providing top-notch customer services.
At Dangote Cement, we are committed to building an inclusive and sustainable business for all stakeholders across the value chain.”
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Posted by News Rangers
on Aug 31 2023. Filed under Business, National.
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