Dangote reacts to arbitrary hike in cement prices in Nigeria

Petroleum Industry Bill Would only give permission to Dangote to Import Fuel

Dangote Cement Plc’s management has responded to allegations of price discrepancies in Nigeria and neighboring countries concerning its cement.

Last week, a viral post on social media claimed that Nigerians pay more than the market value for the product, while neighboring countries enjoy a lower rate.

Addressing these claims, the company stated that as of August 28, 2023, the price for a bag of cement from their factories in Nigeria was N4,010 in Okpella and N4,640 in Ibese, Objana, and Gboko.

The company also clarified that the price of their cement could vary between N5,000 and N5,300 per bag, including transportation costs and delivery location.

They emphasized the importance of this clarification due to the misinformation that Dangote cement is sold at significantly higher prices in Nigeria compared to other countries, especially the Republic of Benin and neighboring countries.

Dangote Cement’s Group Managing Director, Mr Arvind Pathak, explained that it was important to distinguish Dangote Cement’s ex-factory prices from prices at which retailers sell cement in the market.

”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 said that Dangote Cement was focused on delivering quality cement at the best price possible, despite the current inflationary environment.

He added: “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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