Dangote slashes cement prices to curb rising costs
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Dangote Cement has lowered prices of their product to enhance affordability.
The company's founder, Aliko Dangote, said he was worried about the astronomical rise in the price of cement in recent times, which was gradually beginning to affect housing and other construction projects in the country.
According to Dangote, the new local prices for his company's high quality 42,5 grade cement will now range from N1 462 to N1 735 per 50kg bag depending on the region in Nigeria.
Other cement makers are currently selling same product at between N2 200 to N2 800 per bag depending on the location in the country.
Dangote assured that his company would bridge the gap of the demand and stem further price hike.
He noted that his company recently released 9 million metric tonnes of the commodity into the market to make the product available in all parts of the country and stabiliseprices in the open market.
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