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Nairaland Forum / Nairaland / General / Politics / Dangote's Cement Price Drop Was To Support GEJ's Agenda (32952 Views)
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Dangote's Cement Price Drop Was To Support GEJ's Agenda by ducii: 3:52pm On Nov 03, 2014 |
The True Reason Why Dangote Slashed Cement Prices Revealed Africa’s largest cement producer, Dangote Cement Plc has slashed local cement prices to N1,000 ($6) and N1,150 ($7), for different grades. The cement giant is keen to consolidate its position as not only Africa’s top cement maker, but the leading provider in the continent’s largest economy, Nigeria. The current market price for a 50kg bag of the 32.5 grade and 42.5 grade retails for N1,700 ($10.3), 40 percent higher than Dangote’s latest offer.This is the lowest cement price offered consumers since 2005, and ups the ante in what is considered one of the continent’s more competitive markets. Group Managing Director of Dangote Cement, Devakumar Edwin said the price cut was aimed at supporting the government’s ongoing effort to shrink housing deficit, which currently stands at an estimated 17 million. “One of the ways of addressing the issue (huge infrastructure and housing deficit) is bringing the price of building materials down to much more affordable levels, especially cement, which is within our own control as part of our contribution to the transformation agenda of the President Goodluck Jonathan administration and the attainment of key milestones in the Millennium Development Goals,” Edwin said. Since the backward integration policy for cement was implemented in 2002, local production capacity of the product has increased from less than 3 million metric tonnes per annum to about 38 million metric tonnes per annum, and nearly $20 billion has been injected into the Nigerian cement industry with Dangote – Africa’s richest man and owner of the Dangote Group – accounting for 60 percent of that investment. With market capitalization surging beyond $22 billion, Dangote Cement is Nigeria’s most capitalized listed company and the first to hit $20 billion capitalization mark. http://www.ventures-africa.com/2014/11/dangote-offers-nigerians-lowest-cement-price-since-2005/ 11 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by okpismart: 3:54pm On Nov 03, 2014 |
Jonathan: Nigeria Will Join 20 Most Developed Countries by 2020 http://.com.ng/index.php/political-news/item/952-jonathan-nigeria-will-join-20-most-developed-countries-by-2020 Jonathan wasn't joking o 64 Likes 1 Share |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by major466(m): 3:56pm On Nov 03, 2014 |
Welcome development. Soon the price will fall to 500 per bag. 39 Likes 2 Shares |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by Nonybb: 3:57pm On Nov 03, 2014 |
hmm GEJ TILL 2019 59 Likes 1 Share |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by Nobody: 3:58pm On Nov 03, 2014 |
Na to go start foundation o 42 Likes 1 Share |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by Frankenstein: 4:00pm On Nov 03, 2014 |
In summary, it's a business strategy focused on eliminating competition and maximizing profits. But this time, it favours the consumers. 92 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by 99100(m): 4:02pm On Nov 03, 2014 |
Good development !! Fresh Air things. 25 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by ducii: 4:19pm On Nov 03, 2014 |
Frankenstein: True talk 16 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by sleekpro(m): 4:20pm On Nov 03, 2014 |
And someone will come here and say GEJ is not working. If the big shots like dangote and innoson can see a bright futur in GEJ, then who ever say GEJ will not continiue with his good work, #shouldgoanddie GEJ till cement comes down to 250 per bag #freshair 105 Likes 2 Shares |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by Mamaflex(f): 4:20pm On Nov 03, 2014 |
What about those that already have in stock ? 8 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by 99100(m): 4:22pm On Nov 03, 2014 |
Frankenstein: If in Dangote's quest to 'eliminate competition' me,I and myself can now afford to own house ; ah! it is well. From 1.7k down to 1k.... Is high time one start developing that two plots behind honourable Pascal compound. Ah ! Thank you Dangote o. 31 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by lookmangiw(m): 4:34pm On Nov 03, 2014 |
Then after febuary 15 election. It shoots back to it normal price. 44 Likes 1 Share |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by ducii: 4:37pm On Nov 03, 2014 |
lookmangiw: I doubt it, put it is a possibility 4 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by Dreyl(m): 4:38pm On Nov 03, 2014 |
I can see the fresh air. 17 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by agohmamuda(m): 4:47pm On Nov 03, 2014 |
You mean I can now commence building my estate?? 10 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by iamodenigbo1(m): 4:59pm On Nov 03, 2014 |
na to buy and stock incase 6 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by tit(f): 5:07pm On Nov 03, 2014 |
so the price is no longer determined by supply and demand? mumu full for we side. 18 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by laykhorn(m): 5:12pm On Nov 03, 2014 |
And when did Dangote Cement become a Charity organization or a Government Organization which can be used to solve the problem of the Housing deficit. 37 Likes 1 Share |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by larrymoore(m): 5:18pm On Nov 03, 2014 |
Hope I benefit from this 1 Like 1 Share |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by lanrefront1(m): 5:23pm On Nov 03, 2014 |
99100: Then you do not fully comprehend the strategy. After the competition may have been wiped because of inability to compete, then the price will go back up. It may even go past the now N1700. 17 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by hopeforcharles(m): 5:24pm On Nov 03, 2014 |
Frankenstein:True talk Bro, I just pray they sustain it for a long time. 6 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by nigerianvenom(m): 5:31pm On Nov 03, 2014 |
God bless dangote for this act. God bless GEJ. God bless all the investors that have key into the transformation agenda. and may God bless all sincere nigerians 14 Likes 1 Share |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by khattab02: 5:33pm On Nov 03, 2014 |
major466:really? That will be a dream come true. 1 Like |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by Dannyonos26: 5:36pm On Nov 03, 2014 |
gud one.....African's Richest 1 Like |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by dotna(m): 5:44pm On Nov 03, 2014 |
POWERFUL decision 4 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by khattab02: 5:45pm On Nov 03, 2014 |
And the layman will ask '' why the increase all these while?'' 12 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by rattlesnake(m): 5:48pm On Nov 03, 2014 |
So one man determines our destiny 3 Likes 1 Share |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by rattlesnake(m): 5:50pm On Nov 03, 2014 |
brightmexy:anybody wey get money for foundation go don start since 1 Like |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by acenazt: 5:54pm On Nov 03, 2014 |
hehehehehe Make I go tell my momcy dat our 100 by 100 wey na only foundation she try do since 2012 go finally grow. ahhh that Mr Funsho go soon stop dey chop our money for rent 12 Likes |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by chamboy(m): 5:55pm On Nov 03, 2014 |
Thank u dangote indeed. After stealing a whole cake, he now gives my ppl d crumbs to buy 9 Likes 1 Share |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by ducii: 5:56pm On Nov 03, 2014 |
acenazt: Very funny 3 Likes 1 Share |
Re: Dangote's Cement Price Drop Was To Support GEJ's Agenda by Nobody: 5:59pm On Nov 03, 2014 |
I dey go buy one trailer load of cement kip for house 2 Likes |
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