Dangote Cement Raises Prices as Naira, Gas Supply Hits Cost
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Dangote Cement Plc, Africa’s largest cement producer, has raised the price for the building material in its biggest market of Nigeria after a devaluation in the naira and disruptions to its natural-gas supply resulted in substantially higher operating costs.
The company raised the so-called ex-factory price of cement by 600 naira ($1.90) per bag in its home country, erasing a price cut in September last year, the Lagos-based company said in an e-mailed statement on Wednesday. Dangote has also stepped up plans to mine its own coal for power generation, the company said.