Naijacrux News:Welcome to Naijacrux Online Forum..Great Place To Get Tips Facts Updates and More ,Interact Discuss & Learn With Others !!.remember to register to enjoy much more update!!!New Updates From Naijacrux -Naijacrux Is Now Mobile Friendly - Download Our Android App On Our Forum Rules And Announcement Section.Our App Will be Live On Google Playstore And IOS Store Soon Aswell - CLICK HERE TO DOWNLOAD NAIJACRUX ANDROID APP !!! Dear Guest And Naijacrux Dedicated Members,!!! ,  You Can Now Receive Naijacrux Weekly New Post and Updates Via Email by Subscribing To Our Newsletter Using The Subscribe Button Above The Naijacrux Announcement And Discussion At The Top Home Page!!Never Miss A New Post And Updates Again.!Thank You.  !!!YOU ARE WELCOME TO NAIJACRUX INFORMATIVE LEARNING AND INTERACTIVE FORUM.This Website is an Intensive Forum of Learning We recommend you Register & Login to Enjoy much free stuffs ::>>Also remember to Update your Profile Immediately after registration. Thank you!>>>!!!!To All Advertisers And Patronizers, kindly Send Mail To For adverts Placement. thanks!!!

Author Topic: Dangote crashes cement price  (Read 1464 times)

0 Members and 1 Guest are viewing this topic.

Offline mastercode

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 2904
  • Karma: +0/-0
Dangote crashes cement price
« on: November 03, 2014, 07:30:47 AM »

A leading cement manufacturer, Dangote Cement Plc, has announced cuts in the prices of the product, a development seen as likely to make cement cheaper than it has ever been since 2005.
The new price regime announced by its Group Managing Director, Mr. Devakumar Edwin, indicated that the Dangote 32.5 cement grade is now pegged at N1,000 per 50-kilogramme bag, while the higher 42.5 grade is to sell for N1,150 per bag.
The new prices ? exclusive of the Value Added Tax (VAT) ? represent about 40 per cent discount on the prevailing market price of the product, which is being sold for N1,700 irrespective of the grade, across the country.
Edwin, in a statement yesterday, said the move was in line with the company?s commitment to the nation?s dire need for the development of infrastructure and to boost the federal and state government?s efforts to reduce the about 20 million housing deficit in Africa?s largest economy.
The statement added: ?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, as part of our own contribution to the transformation agenda of the President Goodluck Jonathan administration and the attainment of key milestones in the Millennium Development Goals (MDGs)?.
The statement claimed that since the begin of the implementation of the backward integration policy for cement in the country over 12 years ago, the local production capacity of the product rose from less than two million metric tonnes per annum to about 38 million metric tonnes per annum today.
It added that during the over 12 years? period of the policy, over $20 billion was directly and indirectly injected into the industry with Dangote Cement Plc accounting for 60 per cent of the amount.
Edwin also noted that the company would continue to ensure alignment of its corporate social responsibility with its strategic business initiatives and also evaluate its pricing regime in Nigeria?s best interest.
In compliance with the Standards Organisation of Nigeria?s (SON) directive and regulation on the various grades of cement and their prescribed uses, Dangote cement launched its brand of the premium 32.5 cement grade, which has been restricted to plastering use only.
The country?s largest cement producer noted that the move was to develop a full bouquet of cement types to meet the varying needs of consumers for the different grades of cement.
The company, with this move, now produces 42.5 for column casting, block making, decking and other general purpose construction work that require high strength, while also producing the 32.5 grade for rendering or plastering.
Following the price reduction, the National President of the Block Moulders Association of Nigeria, Alhaji Rasidi Adebowale, said he received the news with happiness, especially on what the price reduction holds for his members in Nigeria. He expressed the hope that the new price review would translate to reduction in the price of blocks.
Also, the President of the Nigerian Institute of Architect Bruno Niyi hailed the decision and urged the management of the company to sustain the new price regime and ensure it was not hijacked by profiteers.



Nigeria’s excess oil revenue rises to N22.4 Billion daily as oil price rise

Started by newspostng

Replies: 0
Views: 21726
Last post May 11, 2018, 12:44:51 AM
by newspostng
Algeria Turns to China for Funds as Oil Price Drop Worldwide

Started by newspostng

Replies: 0
Views: 1446
Last post January 21, 2016, 10:48:11 PM
by newspostng
Oil Price falls 3% as investors grow cautious about rising supply

Started by newspostng

Replies: 0
Views: 1246
Last post March 30, 2016, 08:19:21 PM
by newspostng
Nigerian Senate to debate fuel price increase next week

Started by legendguru

Replies: 0
Views: 1199
Last post May 13, 2016, 12:40:19 AM
by legendguru
Nigeria Proposes $78/b Oil Price Benchmark For 2015 Budget

Started by jchima14

Replies: 0
Views: 1828
Last post October 17, 2014, 09:00:33 AM
by jchima14