Dangote Cement Plc has reinforced its stance on cement pricing, maintaining that its rates remain on par with or even lower than those prevalent along the West African coast.
Countering the viral reports circulating across multiple media platforms, the company firmly stated that the cost of a bag of cement from its Nigerian factories has not experienced an uptick.
Amid mounting public critique over the perceived incongruity in cement pricing between Nigeria and other West African nations, Dangote Cement Plc issued a statement to clarify the situation.
The company’s announcement revealed that, as of the most recent Monday, a bag of Dangote Cement retailed at N4,010 in Okpella, and at N4,640 in Ibese, Objana, and Gboko.
The statement also emphasized that when accounting for transportation expenses and the specific delivery location, the overall prices could span from N5,000 to N5,300 per bag.
Dangote Cement Plc sought to address the misinformation that had sparked comparisons between its Nigerian prices and those of other countries, especially the Republic of Benin and neighboring nations.
In his statement, Mr. Arvind Pathak, the Group Managing Director of Dangote Cement, underscored the importance of distinguishing between the company’s ex-factory rates and the prices set by retailers in the market.
In a bid to provide a broader perspective, the company shared its findings from Cotonou, the commercial capital of the Republic of Benin.
The survey revealed that cement was being sold in the range of CFA 3,495 to CFA 4,500. Converting these figures at the current exchange rate of CFA 1 to NGN 1.43, the corresponding prices were between N4,997 to N6,435 per bag.
Pathak expressed, “We are continuously exploring innovative approaches to offer quality products to our vast customer base across Africa, all the while maintaining exceptional customer service.
At Dangote Cement, we are fully committed to creating an inclusive and sustainable business that benefits all stakeholders throughout the value chain.”
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