Africa’s giant building material manufacturer, Dangote Cement has announced a N300 reduction in the price of its cement to drive growth in the nation’s construction industry.
According to information made available to the Nigerian Stock Exchange (NSE) in Lagos, on Thursday, September 3, Dangote Cement would reduce the price of its market-leading 3X brand of cement in Nigeria by N300 per 50kg bag, or N6,000 per tonne. The new price will become effective immediately.
Chief Executive of Dangote Cement, Onne van der Weijde, who spoke on the development said: “Our cost-saving initiatives in Nigeria have enabled us to cut the price of cement to a level that is good for consumers yet still allows us to achieve strong returns that are sustainable in the longer term.”
The company would also undertake a number of marketing initiatives designed to stimulate consumption of cement in Nigeria and to increase exports.