Dangote defends price criticism

Dangote Cement has defended recent criticism of its cement prices saying they are in line with or lower than prices across the rest of the West African coast, reports The Punch. The company has come under fire for increasing the price of its cement in Nigeria, in particular, putting it significantly more expensive than in the likes of Benin - a claim refuted by the company, which says its prices in Nigeria have not risen and points out that it is important to distinguish between Dangote’s ex-factory prices and prices at which retailers sell cement in the market.

According to the company, its cement sells for NGN4010/bag (US$5.20) in Okpella, and NGN4640 in Ibese, Objana and Gboko. Meanwhile, in Benin, cement is selling at between NGN4997 and NGN6435 at current exchange rates.