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Monday 3 November 2014
Dangote reduces cement price to N1,000
Dangote Cement Plc has announced a 41 per cent
reduction in the prices of cement, with the
different grades of the essential commodity now
selling for between N1,000 and N1,150, exclusive
of Value Added Tax.
In the new price regime announced on Sunday by
the Group Managing Director, Dangote Cement,
Mr. Devakumar Edwin, a 50kg bag of the 32.5
cement grade will now sell for N1,000, while the
higher 42.5 grade is to sell for N1,150 per bag
instead of the current N1,700 that both grades
were going for.
Edwin said in a statement that the move was in
line with the company’s commitment to the
nation, especially the need for the development
of infrastructure and boost ongoing efforts to
reduce the near 20 million housing deficit in
Africa’s largest economy.
“We recognise the need for a dramatic increase in
the 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 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,” he was quoted as saying.
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 had risen from
less than two million metric tonnes per annum to
about 38 million metric tonnes per annum
currently.
During the period, over $20bn has been directly
and indirectly injected into the Nigerian cement
industry with Dangote Cement Plc accounting for
60 per cent of that expenditure.
Edwin also said that Dangote Cement would
continue to ensure the alignment of its corporate
social responsibility with its strategic business
initiatives, and would continue to evaluate its
pricing regime in the country’s best interest.
According to the statement, stakeholders have
commended the price reduction and say the
cement market is entering the high demand
phase as the dry season, which provides the
opportunity for increased construction and
building activities, is setting in.
In compliance with the directive of the Standards
Organisation of Nigeria on the various grades of
cement and their prescribed uses, Dangote
Cement recently inaugurated its brand of the
premium 32.5 grade, which has been restricted to
plastering use only.
The largest cement producer in Nigeria noted that
the move was to develop a full bouquet of
cement types to meet the varying needs of
consumers for the different purposes.
The company produces the 42.5 grade for column
casting, block making, decking and other general
purpose construction works that require high
strength, while the 32.5 grade is for rendering or
plastering.
The company also produces on demand the 52.5
grade for specialised construction of high strength
structures such as bridges, flyovers and sky
scrapers, among others.
Dangote Cement said in compliance with the SON
standard for cement quality and packaging, the
lower 32.5 grade would be clearly labelled in
order to minimise the incidence of building
collapse arising from the misapplication of the
different grades of cement.
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