AFRICA: NIGERIA: Dangote crashes cement price

Dangote Cement Plc has announced a significant reduction in the factory price of its product to N1,350 per bag.

While briefing cement distributors, Friday, the company’s Executive Director in charge of sales and marketing, Mr. Ekanem Etim, said the reduction was in line with the company’s declared policy to make cement affordable to Nigerians as it expands its local capacity in the country.

Etim also informed the distributors at the meeting that the country will be self-sufficient in cement production this year, especially with the commissioning of Ibeshe Plant before the end of the year, with an installed capacity of six million metric tons of cement per annum.

Reacting to the significant price reduction by the Dangote Group, Executive Secretary of Cement Manufacturers Association of Nigeria, CMAN, Mr. James Salako, said the group has done so well by bringing its prices down for the benefit of the masses in line with the objectives of CMAN.

While assuring Nigerians that the country will soon become self-sufficient in cement production and even commence exportation of the product to other African countries, he assured that the price of the product will further crash.