Africa’s richest man, Aliko Dangote is facing widespread mounting condemnation and criticism directed at the company from Nigerians quering the justification of the colossal price differences of its cement in Nigeria, relative to other West African countries. The organization however reacted to the condemnation insisting that the prices of Dangote Cement were unchanged were unchanged as it stood at N4,010 in Okpella, and N4,640 in Ibese, Objana, and Gboko.
Dangote Cement Plc has clarified that its cement prices are either aligned with or even lower than prices found along the West African coast.
The company further stated that the cost of a cement bag from its Nigerian factories remains unchanged, refuting the viral reports circulating in various media.
Dangote cement addresses alleged price discrepancy
Amid criticisms directed at Dangote Cement regarding the divergence in cement prices between Nigeria and other West African nations, the company issued a statement.
The statement disclosed that as of the recent Monday, the price of Dangote Cement stood at N4,010 in Okpella and N4,640 in Ibese, Objana, and Gboko.
The company highlighted that considering transportation expenses and delivery location, prices could vary from N5,000 to N5,300 per bag.
This statement aimed to counter the misinformation that Dangote Cement sold its product at significantly higher rates in Nigeria compared to other nations, especially the Republic of Benin and neighboring countries.
Arvind Pathak, the Group Managing Director of Dangote Cement, emphasized the importance of distinguishing the company’s ex-factory prices from the prices set by retailers in the market.
In a check conducted by the company in Cotonou, the commercial capital of the Republic of Benin, cement prices were found to range between CFA 3,495 and CFA 4,500. Considering the exchange rate of CFA 1 to NGN 1.43, this translates to about N4,997 to N6,435 per bag.
Pathak reaffirmed Dangote Cement’s commitment to delivering quality products and exceptional customer service across Africa, while striving to foster an inclusive and sustainable business for all stakeholders within the value chain.