Dangote reduce Cement prize to #1,000

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Dangote Cement Plc has announced a 41 per cent
reduction in the prices of cement, with the different
grades of the essential commodity now selling for
between N1,000 and N1,150, exclusive of Value
Added Tax.
In the new price regime announced on Sunday by
the Group Managing Director, Dangote Cement, Mr.
Devakumar Edwin, a 50kg bag of the 32.5 cement
grade will now sell for N1,000, while the higher
42.5 grade is to sell for N1,150 per bag instead of
the current N1,700 that both grades were going
for.
Edwin said in a statement that the move was in line
with the company’s commitment to the nation,
especially the need for the development of
infrastructure and boost ongoing efforts to reduce
the near 20 million housing deficit in Africa’s
largest economy.
“We recognise the need for a dramatic increase in
the response to the huge infrastructure and
housing deficit in the country, and one of the ways
of addressing the issue is bringing the price of
building materials down to much more affordable
levels, especially cement, which is within our own
control as part of our contribution to the
transformation agenda of the President Goodluck
Jonathan administration and the attainment of key
milestones in the Millennium Development Goals,”
he was quoted as saying.
Since the commencement of the implementation of
the backward integration policy for cement in the
country over 12 years ago, the local production
capacity of the product had risen from less than
two million metric tonnes per annum to about 38
million metric tonnes per annum currently.
During the period, over $20bn has been directly
and indirectly injected into the Nigerian cement
industry with Dangote Cement Plc accounting for
60 per cent of that expenditure.
Edwin also said that Dangote Cement would
continue to ensure the alignment of its corporate
social responsibility with its strategic business
initiatives, and would continue to evaluate its
pricing regime in the country’s best interest.
According to the statement, stakeholders have
commended the price reduction and say the
cement market is entering the high demand phase
as the dry season, which provides the opportunity
for increased construction and building activities,
is setting in.
In compliance with the directive of the Standards
Organisation of Nigeria on the various grades of
cement and their prescribed uses, Dangote
Cement recently inaugurated its brand of the
premium 32.5 grade, which has been restricted to
plastering use only.
The largest cement producer in Nigeria noted that
the move was to develop a full bouquet of cement
types to meet the varying needs of consumers for
the different purposes.
The company produces the 42.5 grade for column
casting, block making, decking and other general
purpose construction works that require high
strength, while the 32.5 grade is for rendering or
plastering.
The company also produces on demand the 52.5
grade for specialised construction of high strength
structures such as bridges, flyovers and sky
scrapers, among others.
Dangote Cement said in compliance with the SON
standard for cement quality and packaging, the
lower 32.5 grade would be clearly labelled in order
to minimise the incidence of building collapse
arising from the misapplication of the different
grades of cement.
Culled from punchng.com

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