DANGOTE Group, the umbrella company of Dangote Cement, has denied reports that it plans to reduce cement prices by 50.9 per cent on October 1, 2023.
According to media reports, various messages shared on multiple social media platforms, including WhatsApp groups, alleged that Dangote Cement planned to reduce the price of cement from N5,500 to N2,700 from October 1, 2023.
The message read: “Dangote crashes cement price from N5500 to N2700. Aliko Dangote has announced the new price of cement crashed by 50%, from October 1st, from N5500 to N2700.”
However, Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Industries Limited described the reports as fake news.
It is worth noting that the rumoured planned reduction in the price of Dangote cement comes on the heels of the recent announcement by Abdul-Samad Rabiu, the Chairman of BUA Group.
Recall that Rabiu had revealed his company’s intention to lower cement prices in Nigeria from the current N5,500 to a range of N3,000 to N3,500, adding that the price reduction will be implemented after two new cement plants are inaugurated by the end of the year or in early 2024.
