Dangote Cement Plc has announced a 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, a50kg 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.
The company said in a statement that the move was in line with it’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.
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.
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