Dangote speaks on purported cement price difference between Nigeria and other countries
The Management of Dangote Cement Plc has stated that the price of a bag of cement from its factories across Nigeria (as at 28th August 2023) is N4,010 in Okpella and N4,640 in Ibese, Objana, and Gboko.
It said including transportation costs and the location of delivery, prices could range between N5,000 to N5,300 per bag, noting that 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.
Dangote Cement’s Group Managing Director, Mr Arvind Pathak, advised 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 stated
Pathak added, 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
The company was reacting to an anonymous social media post in circulation claiming that though produced in Nigeria, with the raw materials sourced locally, “the price of cement is N5200 naira in Nigeria and same is sold in Seme, Benin Republic at N1500 naira”.
