Dangote maintains cement prices despite currency devaluation

Nigeria’s Dangote Group has not increased the price of its cement products, despite the naira devaluation by the Central Bank of Nigeria, according to The Punch.

Instead, the group’s Sales and Marketing Director, Rabiu Umar, stated that it had released 2000 trucks into the market to increase distribution and counteract the cement price hike in the country. The price increase has been attributed to a sudden 40 per cent demand increase.

"We in the past had an opportunity to export our cement but had to slow down, just to meet local demand. So, if you ask me, we have five different concrete actions that Dangote Group has taken to address skyrocketing prices of cement. And we believe that these actions will have a very positive effect of bringing down the prices of cement," said Mr Umar.