We didn’t slash cement price —Dangote group
Dangote Group has rejected rumors that it has reduced the price of cement from N5,500 to N2,700 per 50-kilogram bag.
Dangote Group Spokesperson Anthony Chiejine revealed this to journalists on Monday.
Chiejine described the claim as fake news.
His reaction comes amid speculation that the Dangote group crashed the cement price by 50 percent with effect from October 1st, 2023.
Earlier, Bahir Ahmad, media aide to former president Muhammadu Buhari, had commented that the report was fake.
Ahmad made this known through his official X handle on Sunday.
“The Dangote Group has denied the trending reports that it has reduced the price of cement from N5,500 to N2,700 effective October 1st”, he wrote.
A 50kg bag of cement costs between N4,600 and N6,000 in Lagos, Ogun, Ondo, and Abuja.
BUA Cement, on the other hand, only two weeks earlier hinted at plans to cut the price of a 50kg bag of cement to between N3,000 and N3,500.
Abdul Samad Rabiu, the chairman of the BUA, made the announcement following a meeting with President Bola Ahmed Tinubu.