Fake News - Dangote Group Denies Cement Price Slash

Dangote Group has debunked reports circulating online that it would reduce the price of cement per 50 kilogramme from N5,500 to N2,700.

Anthony Chiejine, Spokesperson for Dangote Group described the claim as fake news on Monday.

“It is fake news”, he said in a terse reply to DAILY POST inquiry.

His reaction comes amid speculation that the Dangote group 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 through his official X handle 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 wrote.

The price of a 50kg bag of cement is sold between N4,600 to N6,000 in Lagos, Ogun, Ondo and Abuja.

However, barely two weeks ago, BUA Cement had 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.