Nigeria’s largest cement producer, Dangote Cement Plc in an update on strategy has announced a reduction in the price of its market-leading brand of cement.
In a bid to stimulate building work across Nigeria, Dangote Cement says it’s reducing the price of its market-leading 3X brand of cement in Nigeria by ₦300 per 50kg bag, or ₦6,000 per tonne.
The new price will become effective immediately. The company is also undertaking a number of marketing initiatives designed to stimulate consumption of cement in Nigeria and to increase exports.
According to Dangote Chief Executive, Onne van der Weijde, “our cost-saving initiatives in Nigeria have enabled us to cut the price of cement to a level that is good for consumers yet still allows us to achieve strong returns that are sustainable in the longer term.
“We hope that reducing the cost of cement will help to stimulate building work across Nigeria at a time when the economy is in need of a boost.