Dangote Company Clarifies Cement Price in Nigeria and Benin Republic
Dangote Cement Plc has debunked the false claims that it sells cement in Nigeria at exorbitant prices compared to other countries, especially the Benin Republic.
The leading cement producer in Nigeria and Africa has issued a statement to clear the confusion about the prices of its products in different markets.
The company said that the ex-factory prices of a bag of cement from its plants across Nigeria are N4,010 in Okpella and N4,640 in Ibese, Objana, and Gboko, as of 28th August 2023.
These prices do not include the transportation costs and the location of delivery, which could vary depending on the distance and accessibility. The company estimated that the retail prices of cement in Nigeria could range from N5,000 to N5,300 per bag, depending on these factors.
The company also compared its prices with those in the Republic of Benin, where it said cement sells between CFA 3,495 and CFA 4,500 per bag. This translates to N4,997 to N6,435 per bag at the current exchange rate of CFA 1: NGN 1.43. The company said that this shows that its products are not significantly higher priced in Nigeria than in Benin, contrary to some false claims circulating on social media.
The company’s Group Managing Director, Mr Arvind Pathak, explained that it was important to distinguish between the ex-factory prices and the retail prices of cement in the market.
“Our check in Cotonou, the commercial capital of the Republic of Benin indicated that cement sells between CFA 3,495 and CFA 4,500, which at the current exchange rate of CFA 1: NGN 1.43 is between N4,997 to N 6,435 per bag”.
He said that Dangote Cement is committed to delivering quality products at the best possible prices, despite the current inflationary environment. He added that the company is constantly innovating new ways to serve its customers across Africa, while providing top-notch customer service.
He said that Dangote Cement is a responsible and sustainable business that cares for all its stakeholders across the value chain.
“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”.
The company was reacting to an anonymous social media post that alleged that Dangote Cement sells cement in Nigeria at N5,200 per bag, while selling it at N1,500 per bag in Seme, Benin Republic.
The company dismissed this as a baseless and misleading allegation that does not reflect the reality of the market. The company urged the public to disregard such misinformation and verify the facts from reliable sources.
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