The Dangote Group says it has not increased the prices of its various classes of cement products despite the devaluation of the naira by the Central Bank of Nigeria.
Speaking after an interactive session with the building industry professionals in Kano, the Dangote Group Sales Marketing Director, Rabiu Umar, disclosed the group had built a new line at Obajana to address the current scarcity of cement products in the country.
According to him, the current scarcity of cement has led to the sharp increase in prices, which are being determined by the forces of demand and supply.
Umar said the company had injected 2,000 trucks into the market to accelerate distribution of cement products, in order to force down the price.
He said, they had an opportunity to export cement but had to slow down, just to meet local demand. He further said they have five different concrete actions that Dangote Group has taken to address skyrocketing prices of cement, and they believe that these actions will have a very positive effect in bringing down the prices of cement.
