Nigeria: Dangote announces cement price cuts

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Dangote Cement Plc, Nigeria’s, a leading cement manufacturer has announced a cut in the price of cement affecting various cement grades. This is two months after the company revised downwards the price.

According to the company, cement price has been towering since 2005 until their current intervention. Mr. Devakumar Edwin the group managing director of Dangote Cement,  confirmed the company’s attach the Dangote 32.5 cement grade at US$6.04 per 50 kg bag, while the higher 42.5 grade is to sell for US$6.95per bag.  The premium brand 32.5 cement grade is restricted to plastering use.

The steps taken is in line with the company’s commitment to the nation’s dreadful need for the development of infrastructure and boosting federal and state government’s ongoing effort to reducing the near 20 million housing deficit in Nigeria.

Group Managing Director of Dangote Cement, Devakumar Edwin has said that it is in response to the huge infrastructure and housing deficit in Nigeria, and reducing price of building materials making them more affordable especially cement is a commitment to Millennium Development Goals (MDGs) and President’s development goals.

Over 12 years ago, the local production capacity of cement has risen from less than 2 million metric tonnes per annum to about 38 million metric tonnes per annum today. The company produces on demand, 52.5 grade for specialised construction of high strength structures such as bridges, flyovers and sky scrapers among others.

In regard to the matter, over $20 billion has been directly and indirectly injected into the Nigerian cement industry, with Dangote Cement Plc accounting for 60% of that spends.