Companies

Dangote Cement denies high price sales in Nigeria

The management of Dangote Cement Plc has debunked reports that the company sells cement in Nigeria at higher prices relative to other countries, particularly Benin Republic and other neighbouring nations.

Dangote Cement noted that the price of a bag of cement from its factories across Nigeria (as of Monday, August 28, 2023) was N4,010 in Okpella and N4,640 in Ibese, Objana, and Gboko.

The company stated that including transportation costs and the location of delivery, prices could range between N5,000 to N5,300 per bag.

Dangote Cement’s Group Managing Director, Arvind Pathak, in a statement on Monday, August 28, said: “It is 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.”

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

He stated: “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 Star