Dangote Cement Plc’s management has clarified that Nigeria’s cement price is either on par with or lower than prices in other West African countries.
In a statement to LEADERSHIP, the company explained that the price of a bag of cement from its factories across Nigeria (as of August 28, 2023) is N4,010 in Okpella and N4,640 in Ibese, Obajana, and Gboko. Including transportation costs and delivery location, prices could range between N5,000 and N5,300 per bag.
“This clarification was made in response to recent misinformation claiming that Dangote Cement sells cement in Nigeria at significantly higher prices compared to other countries, particularly the Republic of Benin and neighboring countries,” the company stressed.
Mr. Arvind Pathak, the group managing director of Dangote Cement, emphasized the importance of distinguishing the company’s ex-factory prices from the prices at which retailers sell cement in the market.
“Our investigation in Cotonou, the commercial capital of the Republic of Benin, revealed that cement is sold between CFA 3,495 and CFA 4,500, which at the current exchange rate of CFA 1: NGN 1.43, amounts to N4,997 to N6,435 per bag,” he stated.
Pathak highlighted that Dangote Cement is committed to delivering quality cement at the most affordable price, despite the current inflationary environment.
“We continuously strive to innovate and find new ways to provide top-notch customer service and deliver quality products to millions of customers across Africa. At Dangote Cement, we aim to build an inclusive and sustainable business that benefits all stakeholders in the value chain,” he explained.