Dangote to crash cement prices

12 May 2014

The President of Dangote Group and Africa’s richest man, Alhaji Aliko Dangote, said that nine million tonnes of cement have been released into the market to stem the escalating cost of the product.

Speaking at Obajana Cement Company in Kogi State, the business mogul said the move was to make the product available in all parts of the country and stabilise its prices in the open market.

The businessman, who spoke after conducting the visiting President of Tanzania, Dr Jakaya Kikwete on a facility tour of the plant, attributed the scarcity of cement in recent time to low production between January and March.

He assured Nigerians that the prices of cement will drop to its normal price of between N1, 450 and N1, 550 very soon.

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