Group Managing Director of Dangote Cement, Mr. Devakumar Edwin, indicated that the Dangote 32.5 cement grade is now pegged at N1,000 per 50-kilogramme bag, while the higher 42.5 grade is to sell for N1,150 per bag.
The new prices – exclusive of the Value Added Tax (VAT) – represent about 40 per cent discount on the prevailing market price of the product, which is being sold for N1,700 irrespective of the grade, across the country.
Edwin, in a statement yesterday, said the move was in line with the company’s commitment to the nation’s dire need for the development of infrastructure and to boost the federal and state government’s efforts to reduce the about 20 million housing deficit in Africa’s largest economy.
The statement added: “We recognise the need for a dramatic increase in the response to the huge infrastructure and housing deficit in the country, and one of the ways of addressing the issue is bringing the price of building materials down to much more affordable levels, especially cement, as part of our own contribution to the transformation agenda of the President Goodluck Jonathan administration and the attainment of key milestones in the Millennium Development Goals (MDGs)”.
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