The authorities at Dangote Company, manufacturers of Dangote Cement have denied viral reports claiming they are set to reduce the price of cement from the current market price of N5,500 to N2,700.
The company made the denial in reaction to viral reports on social media claiming they were set to reduce cement prices by 50.9 percent on October 1, 2023.
The social media message reads: “Dangote crashes cement price from N5500 to N2700. Aliko Dangote has announced the new price of cement crashed by 50%, from October 1st, from N5500 to N2700.”
However, speaking with newsmen on the reports, the Group Chief Branding and Communications Officer of Dangote Industries Limited, Anthony Chiejina, described the reports as fake news.
READ ALSO: Dangote Cement Shares To Be Sold For N20/Share, As Revenue Hits N1.38trn
BUA Cement Set To Reduce Price
Manufacturers of BUA Cement are set to reduce the price of their product and crash cement prices in Nigeria following a meeting with President Bola Tinubu on Friday.
KOKO TV NG understands the chairman of the company, Abdul Samad Rabiu, made this known after a meeting with President Tinubu at the State House, in Abuja.
Speaking on the visit, Abdul Samad Rabiu said that to support the efforts of the government to bring down the prices of key commodities, the company is adding two new plants at the end of the year to be commissioned by President Bola Tinubu.
READ ALSO: BUA To Crash Cement Price From N5,500 to N3,500 After Talks With Tinubu
The two new plants would bring BUA Cement’s total capacity to 17 million metric tons.
It would also enable the company to bring down the price of cement to about 3500 naira per bag.
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