• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Wednesday, September 17, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Dangote Cement reacts to allegation of profiteering

Dangote

The Matters Press by The Matters Press
August 29, 2023
Reading Time: 2 mins read
0
Dangote Cement commences Tranche II share buyback

Following the flurry of allegations that Dangote Cement was profiteering and extorting Nigerian consumers, the management of the company has formally denied the allegations.

RELATED POSTS

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

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.

Tags: Dangote
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

‎Tinubu never abandoned the North, TMSG insists

September 12, 2025
Trading in Nigerian stock market dips further N83bn
Economy/Technology

Tinubu’s pro-business model triggers surge in capital market – TMSG

September 10, 2025
Tinubu commits to economic reforms as Nigeria marks democracy day
Economy/Technology

‎Tinubu’s achievements daze gov., opposition leaders

September 10, 2025
Next Post
Fair exhibitors adopt strategies to boost sales

Indonesia woos Nigerian investors with Expo

Nigeria to promote digital innovation, entrepreneurship – Pantami

Many Nigerian graduates have no digital skills

Recommended Stories

800 firms compete to manage gas flare sites

Petroleum engineers advocate stiff penalty for gas flaring

July 29, 2022
Nigeria has not taken decision yet on fuel subsidy

Fuel subsidy now above N400bn monthly – NNPCL

February 18, 2023
SON alerts on second hand gas cylinders

Price of cooking gas increases by 101 percent

September 20, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Leap in non-oil exports gain of Nigeria:s economic diversification ‎
  • Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎
  • ‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us