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Business Nigeria: Price of Cement to Crash by 30% - Dangote



Cement prices in Nigeria are expected to dip in the coming months as Dangote Cement Plc, the main supplier of cement in the country -who announced this yesterday- is set to inject an additional 9 million metric tons into local circulation.

Excerpt from Vanguard:

Dangote Cement Plc, yesterday, predicted sharp drop in local cement prices by 300 percent from next month.

The company said this will be made possible by the supply of an additional nine million metric tons into the market from its factories at Ibese and Obajana.

Also the cement giant is coming out with its own brand of 32.5 grade cement in the next seven days.

Devakumar Edwin, Group Managing Director, Dangote Cement, told journalists in Lagos that the company is currently reviewing the selling prices of its products with intent to reduce them and make the products available with the recent commissioning of additional six million metric tons per annum lines 3 and 4 in Ibese, Ogun state and another three million metric ton capacity additional line 4 at Obajana, Kogi State.

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#Cement #Vanguard #Dangote #Ibese #Obajana


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