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.

Source: www.vanguardngr.com/2014/11/dangote-slashes-cement-price-n1000-per-bag/

Nice move at the right time

ok! dats gud

Den I need to start building my mansion.

They did dis just to elimininate five star cement.....wen they are done,i guess the price would be bck to how it was or even higher than expected..

nw i can build aose for my in laws...thank u goodluck...oh dangote

Time to re-visit those abandoned projects