Pursuits
Dangote Cuts Nigeria Cement Price to Boost Consumption
- Company reduces cement prices by 6,000 naira per metric ton
- Dangote Cement raised prices in December to protect margins
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Dangote Cement Plc, Africa’s largest producer of the building material, cut prices in its home market of Nigeria in an attempt to boost cement consumption and compete with imports.
The price cuts to its 3X cement brand by 6,000 naira ($30.23) per metric ton will still allow Dangote to achieve strong returns, Chief Executive Officer Onne van der Weijde said in a statement on Thursday. The Lagos-based company is also hoping the lower prices will help increase export sales to neighboring nations, he said.