There are reports that Dangote Cement will be reducing the price for a bag of cement from N5,000. The new price is reported to kick off on the 1st of October 2023.
The claim is FALSE
Various messages shared on multiple social media platforms, including WhatsApp groups, Dangote Cement was reported to have planned to reduce the price of cement.
“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.” One of the messages read.
The rumoured planned reduction in the price of Dangote cement comes on the heels of a similar recent announcement by Abdul-Samad Rabiu, the Chairman of BUA Group.
Rabiu after meeting with President Bola Tinubu on Friday, 15th September 2023, revealed that his company intends to lower cement prices in Nigeria from the current N5,500 to a range of N3,000 to N3,500 after two new cement plants are inaugurated by the end of the year or in early 2024.
Meanwhile, Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Industries Limited has described the reports as fake news.
CONCLUSION
The claim that Dangote will slash cement price from N5,500 to N2,700 on October 1 is FALSE.
