Dangote raises cement price

Reversing a November price cut, Dangote Cement increased the price of its product to NGN2200/50kg bag. The new VAT-exclusive prices will see distributors pay NGN1645-1655/bag for ex-works orders and NGN1745 for orders delivered from the Ibese plant. Ex-works prices from Isolo hovered around the NGN1700 mark, according to one local source.

The changes, which were not formally announced by the cement producer, are effective 15 December 2014 and distributors have said that the rapid reversal of the previous cut effectively meant that the market has seen little in terms of the decrease in price.