Price discrepancy: Dangote Clears Air On Cement Price Misinformation

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The management of Dangote Cement Plc has moved to clear up the confusion surrounding the cost of a cement bag produced within its Nigerian factories, as of August 28, 2023. In a statement released on Monday, the company specified that the price of a cement bag is set at N4,010 in Okpella and N4,640 in Ibese, Obajana, and Gboko.

To account for variables such as transportation expenses and the location of delivery, the company pointed out that the overall prices could encompass a range from N5,000 to N5,300 per bag.

This precise clarification comes in response to recent misinformation suggesting that Dangote Cement sells its product in Nigeria at substantially elevated prices compared to other nations, particularly neighbouring countries like the Republic of Benin. Recall that Nollywood Times reported that Nigerians called out the billionaire over price discrepancy.

Arvind Pathak, the Group Managing Director of Dangote Cement, emphasized the necessity of distinguishing between the ex-factory prices of Dangote Cement and the prices at which retailers peddle the commodity in the market.

Observations made in Cotonou, the commercial hub of the Republic of Benin, revealed that cement is retailed between CFA 3,495 and CFA 4,500. Given 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 underlined that Dangote Cement remains steadfast in its commitment to delivering superior-quality cement at the most favorable price, even amidst the ongoing inflationary climate.

"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," he said.

Source: torizone.com

#Dangote cement
#Aliko Dangote
#Price Disperity
#Republic of Benin