Dangote breaks silence on purported arbitrary hike of cement prices in Nigeria

• The company said the price of a bag of cement from its factories across Nigeria (as at August 28, 2023) was N4,010 in Okpella and N4,640 in Ibese, Objana, and Gboko
• The company said the clarification became imperative in view of the misinformation that it sold cement in Nigeria at significantly higher

The management of Dangote Cement Plc has reacted to purported prices differential of its cement in Nigeria and other neighbouring countries.

A viral post on social media last week had claimed that the company forces Nigerians to pay way more than the market value for its cement while neighbouring countries get the same product at a relatively cheaper rate.

Reacting to claim, the company said the price of a bag of cement from its factories across Nigeria (as at August 28, 2023) was N4,010 in Okpella and N4,640 in Ibese, Objana, and Gboko.

Clarifying misinformation about the price of its cement yesterday, the company said it could range from N5,000 to N5,300 per bag, including transportation costs and the location of delivery.

The company said the clarification became imperative in view of the misinformation that it sold 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, 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”.