Following the flurry of allegations that Dangote Cement was profiteering and extorting Nigerian consumers, the management of the company has formally denied the allegations.
Nigerians have taken to the social media lampooning the company of selling its products at exorbitant prices in the country where it sourced all its raw materials and selling at affordable prices in neighbouring countries.
The Dangote Cement Plc on Monday clarified that the price of a bag of cement from its factories across Nigeria (as at 28th August 2023) is N4,010 in Okpella and N4,640 in Ibese, Obajana, and Gboko.
Including transportation cost and the location of delivery, the management explained that prices could range between N5,000 to N5,300 per bag.
Dangote Cement Plc made the clarification in a statement on Monday.
The company said the clarification was made in view of recent misinformation that the Company sells cement in Nigeria at significantly higher prices relative to other countries, particularly the Republic of Benin, and other neighbouring countries.
Dangote Cement’s Group Managing Director, Mr Arvind Pathak, advised that it is important to distinguish Dangote Cement’s ex-factory prices from prices at which retailers sell cement in the market.
” Our checks in Cotonou, the commercial capital of the Republic of Benin, indicate that cement sells between CFA 3,495 and CFA 4,500, which at the current exchange rate of CFA 1: NGN 1.43 is between N4,997 to N6,435 per bag as against the malicious falsehood of N1,500 per bag circulating on social media,” the statement said.
Pathak said that Dangote Cement Plc is focused on delivering quality cement at the best price possible, despite the current inflationary environment.
“We continue to innovate ways to deliver quality products to millions of our customers across Africa, while providing top-notch customer services.
“At Dangote Cement we are committed to building an inclusive and sustainable business for all stakeholders across the value chain,” the Group Managing Director explained.
