In a recent statement, Dangote Cement Plc’s management has taken steps to address and correct misconceptions surrounding the pricing of their cement products. As of August 28, 2023, the company clarified that the cost of a bag of cement produced in its factories across Nigeria stands at N4,010 in Okpella and N4,640 in Ibese, Objana, and Gboko.
The company’s announcement aimed to dispel any false information regarding the price of its cement. Dangote Cement emphasized that the actual price could encompass a range from N5,000 to N5,300 per bag. This pricing range accounts for transportation expenses and the specific delivery location.
The need for clarification arose due to inaccurate claims that Dangote Cement was selling its products in Nigeria at considerably higher prices compared to other nations, particularly the Republic of Benin and neighboring countries.
Dangote Cement’s Group Managing Director, Mr. Arvind Pathak, highlighted the significance of distinguishing between the company’s ex-factory prices and the prices set by retailers in the market. Mr. Pathak provided insights from their findings in Cotonou, the commercial hub of the Republic of Benin, where cement is sold between CFA 3,495 and CFA 4,500. With the current exchange rate of CFA 1 to NGN 1.43, this translates to a range of N4,997 to N6,435 per bag.
Pathak underscored Dangote Cement’s commitment to delivering superior-quality cement at the most competitive prices, even amid the prevailing inflationary conditions. He further expressed the company’s dedication to pioneering innovative methods to ensure the delivery of quality products and exceptional customer service to their extensive customer base across the African continent.
“Our focus remains on creating an all-encompassing and sustainable business model that benefits all stakeholders throughout the value chain,” Pathak concluded.
The statement reaffirms Dangote Cement’s dedication to providing affordable and high-quality cement products to its customers while addressing any misperceptions that might have arisen.