LEADING cement manufacturer, Dangote Cement Plc, weekend, announced drastic reduction of the prices of its cement. The new price regime announced by the Group Managing Director/Chief
Executive Officer, GMD/CEO, of Dangote Cement, Mr. Devakumar Edwin,
pegged the Dangote 32.5 cement grade at N1,000 per 50 kg bag, while the
higher 42.5 grade would sell for N1,150 per bag. A statement by
the company at the end of a management meeting said, however, that the
new prices were exclusive of the Value Added Tax, VAT, representing
about 40 per cent discount on the prevailing market price of the product
currently sold for N1,700 irrespective of the grade, across the
country.
Edwin said the move was 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.He said, “we recognize the need for an increased rapid response to the huge infrastructure and housing deficit in the country, and one of the ways of addressing the issue is bringing the price of building materials down to much more affordable levels especially cement which is within our control as part of our contribution to the transformation agenda of the Goodluck Jonathan administration and the attainment of key milestones in the Millennium Development Goals, MDGs.
“Since the commencement of the implementation of the backward integration policy for cement in the country over 12 years ago, the local production capacity of the product rose from less than three million metric tonnes per annum to about 38 million metric tonnes per annum. During the more than 12-year period of the backward integration policy, nearly $20 billion has been directly and indirectly injected into the Nigerian cement industry with Dangote Cement Plc accounting for 60 per cent of that spend.”
The GMD/CEO added that Dangote Cement Plc would continue to ensure alignment of its corporate social responsibility with its strategic business initiatives and will continue to evaluate its pricing regime in Nigeria’s best interest.
Meanwhile, the timing of the initiative has confounded industry watchers, who say that from experience, the cement market is on the verge of entering the accelerated demand phase as the raining season is tapering and the dry season which provides the opportunity for increased construction and building activities is setting in.
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1
LikeDelete3 minutes ago
Mac David
Cool business man ,d lesser d price d higher d quantity demanded , so
al tnx to Dangote bcos e no easy to do such a tin ooooooo........
Nkpoikanna A. Johnson
Good moves in Nigeria. God bless him. 700n by 2015 is then a reality. We are grateful.
Femi Ade Johnson
Hmmmmm!!
Reduction in Dangote cement,is this not political? just wait and c,let
Jonathan not be re-elected,a bag of cement will nearly raise to
#2,500,bcos this pple knw what they are doing.
Obiegbu Richiedoulf Richard
@ femi u r stupid, we r talking about reduction n price of cement u r talking about jonathan did u have sense at all?
Femi Ade Johnson
Obuegbu
or wat do u call urself? u'r a fool,it seems ur normal human thinking
organism as been unpluged,u beta behave urself with dat ur mosquito
reply nd shut d f*ck up.idiot fellow,una d type wey dem go gv #1000 to
vote 4 one candidate abi,God punish ur fada.
Obiegbu Richiedoulf Richard
Lol!
femi u b confirm mumu u talk like a kid ur statement is inmature. look
at my pix did i loök like a hunger boy like u dat beg?
Obiegbu Richiedoulf Richard
@ femi i'm self made i will pay for ur school fees n i can feed ur entire families u foooool.
Femi Ade Johnson
Feeding
me and my owl family sha,u don feed urself finish?empty barrel make a
lots of noise,No worry,na body go tell u...Idiot fellow,bark
again,doggie
Obiegbu Richiedoulf Richard
Mumu
like u@ femi just take a look at ma pix moron i'm a made guy i dnt beg i
giv out, i aint barking is u dat's foolíng urself in d public dnt let
me unleash my dogs on u boy. u rif-raf, stupid son of a bitch. lol
Omo Oba Adeyemi Lanre
pls hw true is dis.in my area abule egba precisely a bag of cement stil sell #1,650
Femi Ade Johnson
Obumumu,wu d f*ck r u,and wat do u even feel lyk,a fool @40,u turn fb 2 face me and slap u aus,mi o ma care bi anybody kun
Femi Ade Johnson
@Omo oba,hin 1 use am campaign 4 Jonathan ni jare,abeg as soon as u c am for 1k,find money buy suplus put 4 aus o.
Omo Oba Adeyemi Lanre
femi pls u guys shud stop dis.richard pls accept my apology.see u guys smiling..Tnx one love