Dangote Group has denied claims making the round of reducing the price of Cement to N2,700 per 50-kilogramme bag from N5,500.
The Public Relations Officer (PRO) for Dangote Group Anthony Chiejine, Spokesperson for Dangote Group, disclosed this on Monday.
Chiejine described the claim as fake news.
His reaction comes amid speculation that the Dangote crashed the cement price by 50 per cent with effect from October 1st, 2023.
Earlier, Bahir Ahmad, media aide to former President Muhammadu Buhari, had commented that the report was fake.
Ahmad made this known on Sunday.
“The Dangote Group has denied the trending reports that it has reduced the price of cement from N5,500 to N2,700 effective October 1st”, he said.
The price of a 50kg bag of cement is sold between N4,600 to N6,000 in Lagos, Ogun, Ondo and Abuja.
BUA Cement has however hinted at plans to reduce the price of a 50kg bag of cement to between N3,000 and N3,500.
BUA chairman, Abdul Samad Rabiu disclosed this after meeting with President Bola Ahmed Tinubu.