The cement industry in Nigeria has been witnessing a price war between two of the major players, Dangote Cement Plc and BUA Group. The two companies have been competing for market share and customers by offering different prices and promotions.
Dangote Cement Plc., the largest cement producer in Africa, recently denied reports that it has reduced the price of a bag of cement to between N2,400 and N2,700 as part of a sales promo.
The company said the reports were mischievous, malicious, and false, and that it has alerted the law enforcement agents to track down the perpetrators.
BUA Group, on the other hand, announced a reduction of ex-factory cement price to N3,500 per bag, from the previous N4,650. The company said the move was to help cushion the effects of inflation and make cement more affordable for Nigerians. However, some customers have complained of scarcity of the product in the market.
The price war has generated mixed reactions from Nigerians on social media. Some have praised BUA Group for breaking the monopoly of Dangote Cement and making cement cheaper. Others have expressed skepticism about the quality and availability of BUA cement. Some have also called on the government to intervene and regulate the cement industry.
Here are some of the comments from Facebook users:
- James Sammy: “May God continue to keep BUA in the market. No oppressors will see you.”
- Inemesit Ubeh: “More competitors are welcome.”
- Daniel Olaniyi: “The problem with Nigeria is because we encourage monopoly instead of monopsony.”
- Jah Chilaka: “We pray others join in the crash of this business, we the youth have one voice.”
- Pheel More Young-Azeez: “They should reduce it to 1500 we are both citizens of Nigeria.”
- Hum Ita: “This man [Dangote] contributes to our problem in this country.”
- Raheem Olatunde: “If he [Dangote] brings the price down what about the landlord’s problem we want our government to intervene.”
- Emmanuel Nonye: “BUA just did his prank successfully and this one [Dangote] has started his own too.”
- Adeshina Taiwo Kakakin Olodumare: “You just talk, make a step, I believe God will make us overthrow this problem, take a step.”
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