Cement Price From N5,500 to N2,700; Dangote Speaks On Reported Plan To Slash Price

Reports trending online that Alinco Dangote wants to reduce the price for a bag of cements from five thousand five hundred naira to two thousand seven hundred naira. Legit.ng held a recent interview with the brand concerning this news and feedbacks gathers a proper info to qualify the trending news online and as well, modify the current mode of the business.

The Dangote group, has denied reports that it plans to reduce cement prices by 50.9 percent on October 1, 2023. This came after a rumor shared across various social media platforms, Facebook, Whatsapp, instagram and Twitter that Dangote Cement was reported to have planned to reduce the price of cement.

The message reads: “Dangote crashes cement price from N5500 to N2700. Aliko Dangote has announced the new price of cement crashed by 50%, from October 1st, from N5500 to N2700.”

Dangote reacts Speaking with Legit.ng exclusively, Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Industries Limited, described the reports as fake news. How Rabiu plans to reduce cement price The rumoured planned reduction in price of Dangote cement comes on the heels of recent announcement by Abdul-Samad Rabiu, the Chairman of BUA Group. Rabiu had revealed his company’s intention to lower cement prices in Nigeria from the current N5,500 to a range of N3,000 to N3,500.

According to the billionaire, the price reduction will be implemented after two new cement plants are inaugurated by the end of the year or in early 2024. Speaking to journalists, he said: “By the time these lines are commissioned, BUA Cement will produce about 17 million tonnes per annum. And with that, we intend to bring down the cement price from its current level of N5000 or N5500 per bag to maybe N3000 to N3500 per bag.”

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