Dangote cuts cement drops price to N1000 per bag
DANGOTE Cement Plc, over the weekend, announced a new slash in the prices of the various grades of cement, less than two months after a downward review of the commodity, By the company’s actions, the new price regime announced by the Group Managing Director of Dangote Cement, Devakumar Edwin, would see the company sell its 32.5 cement grade at N1,000 per 50 kilogram (kg) bag, while the higher 42.5 grade would sell for N1,150 per bag. The new prices exclusive of the Value Added Tax (VAT), represents about 40 per cent discount on the prevailing market price of the product which is currently sold for N1,700 irrespective of the grade, across the country. Edwin said the move is in line with the company’s commitment to the nation’s dire need for the development of infrastructure and to boost the federal and state government’s ongoing effort to reduce the near 20 million housing deficit in Africa’s largest economy. Indeed, the move is also coming on t...