Group announces N300 reduction in cement price to boost consumption

10:47 - 04 September 2015

Labourers work at the Dangote Cement factory in Obajana village in Nigeria's central state of Kogi November 8, 2010. REUTERS/Akintunde Akinleye

As part of its efforts to stimulate consumption of cement in Nigeria and to increase exports, Dangote Cement has slashed cement price by N300.

As part of its efforts to stimulate consumption of cement in Nigeria and to increase exports, has slashed cement price by N300.

According to information made available to the Nigerian Stock Exchange (NSE), yesterday, in Lagos, 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.

Speaking on development, Chief Executive of Dangote Cement, Onne van der Weijde, 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"