Dangote Cement Plc Slashes prices of its cement, 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. SEE MORE ON PAGE 2