Dangote Cement Plc has asserted that its cement prices are in alignment with or even lower than prices observed along the West African coastline.
In response to viral reports circulating in various media outlets, the company clarified that the cost of a cement bag from its Nigerian factories has not risen.
Criticism had arisen regarding the disparity in cement prices between Nigeria and other West African nations.
In an official statement, the company outlined that as of Monday, the price of Dangote Cement stood at N4,010 in Okpella and N4,640 in Ibese, Objana, and Gboko. The statement indicated that accounting for transportation expenses and delivery locations, prices could range from N5,000 to N5,300 per bag.
This clarification was issued to counter recent misinformation suggesting that Dangote Cement was selling cement in Nigeria at significantly higher rates compared to other countries, particularly the Republic of Benin and neighboring nations.
Dangote Cement’s Group Managing Director, Mr. Arvind Pathak, emphasized the need to differentiate between the company’s ex-factory prices and the rates at which retailers sell cement in the market.
An evaluation conducted by the company in Cotonou, the commercial hub of the Republic of Benin, revealed that cement was priced between CFA 3,495 and CFA 4,500. At the current exchange rate of CFA 1 to NGN 1.43, this equated to approximately N4,997 to N6,435 per bag.
Pathak said, “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.”