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In a move that will raise the stakes in the rapidly evolving Nigerian cement market, leading cementmanufacturer, Dangote Cement Plc, has announced huge cuts in the price of the essential construction product.
In a step that will make cement cheaper than it has ever been since 2005, the group managing director ofDangote Cement, Mr. Devakumar Edwin, said the company had pegged the Dangote 32.5 cement grade at N1,000 per 50 kg 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 currently sells for N1, 700 across the country irrespective of the grade.
Edwin said the move was in line with the company’s commitment to the nation’s dire need for thedevelopment of infrastructure and to boost the federal and state government’s ongoing effort to reduce the near 20 million housing deficit in Nigeria.
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