August 29, (THEWILL) – The Management of Dangote Cement Plc., has clarified that Nigeria’s cement price is in line with or lower than prices across the West African coast.
It said the “clarification was made in view of recent misinformation that the company sells cement in Nigeria at significantly higher prices relative to other countries, particularly, the Republic of Benin and other neighbouring countries.”
A statement by the group managing director, Arvind Pathak, explained that the price of a bag of cement from its factories across Nigeria (as of August 28, 2023) is N4,010 in Okpella and N4,640 in Ibese, Obajana and Gboko, Including transportation costs and the location of delivery, prices could range between N5,000 to N5,300 per bag.
“Our check in Cotonou, the commercial capital of the Republic of Benin, indicated that cement sells between CFA 3,495 and CFA 4,500, which at the current exchange rate of CFA 1: NGN 1.43 is between N4,997 to N 6,435 per bag”, he said.
Pathak, who urged the Nigerian public to distinguish Dangote Cement’s ex-factory prices from prices at which retailers sell cement in the market, noted that Dangote Cement is focused on delivering quality cement at the best price possible, despite the current inflationary environment.
“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”, he added.
