Leading cement manufacturer, Dangote Cement Plc has announced huge cuts in the price of the essential product.
A step that will make cement cheaper than it has ever been since 2005, the new price was announced by the Group Managing Director, Mr Devakumar Edwin. He said the company has pegged the Dangote 32.5 cement grade at N1,000 per 50kg, while the higher 42.5 grade is to sell for, 1,150per bag.
The new price exclusive of the Value Added Tax(VAT), represents about 40 percent discount on the prevailing market price of the product which is currently sold for N1,700 irrespective of the grade.
Edwin said the move is in line with the company's commitment to the nation's dire need for the development of infrastructure and boost the federal and state government's ongoing effort to reduce the near 20 million housing deficit in Africa's largest economy.
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