Browsing: Ibese

The company has clarified that the price of a bag of cement from its factories across Nigeria (as at 28th August 2023) is N4,010 in Okpella and N4,640 in Ibese, Objana, and Gboko. Including transportation costs and the location of delivery, prices could range between N5,000 to N5,300 per bag. This clarification was made in view of recent misinformation that the Company sells cement in Nigeria at significantly higher prices relative to other countries, particularly the Republic of Benin, and other neighbouring countries.

Dangote’s Group Executive Director, Strategy, Portfolio Development & Capital Projects, Devakumar Edwin revealed that, while a bag of cement sells for an equivalent of $5.1, including VAT in Nigeria, it sells for $7.2 in Ghana and $5.95 in Zambia ex-factory, inclusive of all taxes. He said that though the company has direct control over its ex-factory prices, it cannot control the ultimate price of cement when it gets to the market. He advised that it is important to distinguish Dangote’s ex-factory prices from prices at which retailers sell cement in the market.