Dangote Reacts to Rising Cement Price in Nigeria

The Management of Dangote Cement Plc has stated that Nigeria’s cement price is in line with or lower than prices across the West African coast.

The company, in a release made this clarification. According to Dangote Cement, 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, Obajana, and Gboko. Including transportation costs and the location of delivery, cement prices could range between N5,000 to N5,300 per bag.

“This 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,” it stressed.

The group managing director of Dangote Cement, Mr Arvind Pathak, advised that, it is important to distinguish Dangote Cement’s ex-factory prices from prices at which retailers sell cement in the market.

Also Read: Dangote Cement Gets AA+ Ratings

“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 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 explained as regards cement prices.