Dangote Speaks On Reducing Cement Price From N5,500 To N2,700

There have been rumours circulating on social media that Dangote Cement, one of the leading cement producers in Nigeria, is planning to slash the price of its product by more than half.

The rumours claim that Dangote Cement will reduce the price of cement from N5,500 to N2,700 per bag starting from October 1, 2023.

However, these rumours have been debunked by the company as false and misleading.

The Group Chief Branding and Communications Officer of Dangote Industries Limited, Anthony Chiejina, told Legit that there is no such plan to cut down the price of cement.

He urged the public to disregard the fake news and warned that anyone who engages in spreading such false information will face legal consequences.

Meanwhile, BUA Cement, another major cement manufacturer in Nigeria, has announced its intention to reduce the price of its product and make it more affordable for Nigerians.

The chairman of the company, Abdul Samad Rabiu, revealed this after a meeting with President Bola Tinubu at the State House in Abuja two weeks ago.

According to Rabiu, BUA Cement is adding two new plants at the end of the year, which will increase its total production capacity to 17 million metric tons.

He said that the new plants will be commissioned by President Tinubu and will enable the company to lower the price of cement to about N3,500 per bag. He added that this move is in support of the government’s efforts to bring down the prices of key commodities in the country.

The news of BUA Cement’s price reduction has been welcomed by many Nigerians who have been complaining about the high cost of building materials in recent times.

Some have also expressed hope that Dangote Cement will follow suit and reduce its own price as well. However, it remains to be seen how the cement market will react to these developments and whether they will have a significant impact on the construction sector.

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