BREAKING: Dangote Speaks Out on Reducing Cement Price from N5,500 to N2,700

In response to recent viral reports circulating on social media, Dangote Cement, one of Nigeria’s leading cement manufacturers, has denied any plans to reduce the price of cement from the current market rate of N5,500 to N2,700. The company firmly stated that these claims are baseless and categorically false.

The misinformation began spreading rapidly through social media channels, with messages proclaiming that Aliko Dangote, the chairman of Dangote Industries Limited, had announced a 50.9 percent reduction in cement prices, effective from October 1, 2023. The message claimed that cement would be available for N2,700 per bag starting on that date.

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To clarify the situation, Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Industries Limited, addressed the matter. He emphasized that these reports were entirely unfounded and should be disregarded as “fake news.”

In contrast, BUA Cement, another prominent cement manufacturer in Nigeria, recently made headlines regarding a potential reduction in cement prices. Abdul Samad Rabiu, the chairman of BUA Cement, disclosed plans to lower the cost of their product following a meeting with President Bola Tinubu. The meeting, which took place at the State House in Abuja, was held in support of the government’s efforts to mitigate the rising prices of essential commodities.

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During the meeting, Abdul Samad Rabiu announced that BUA Cement was in the process of constructing two new plants set to be commissioned by President Bola Tinubu by the end of the year. This expansion will increase BUA Cement’s total production capacity to 17 million metric tons. Consequently, the company anticipates that this expansion will enable them to reduce the price of cement to approximately 3,500 naira per bag.

It is important to note that while BUA Cement is actively working towards price reduction, Dangote Cement has denied any such plans, debunking the widely circulated rumors of a drastic price reduction.

As consumers and the construction industry eagerly await developments in cement pricing, it is essential to rely on accurate information from credible sources.

Source: Naija News  

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