The Dangote Group on Monday debunked viral claims that it has reduced the price of cement to N2,700 per kilogram bag from N5,500.
Spokesperson for the group, Anthony Chiejine denied the claims and described them as “fake news”.
“It is fake news”, he said.
The rebuttal comes following speculation that the Dangote Group crashed the price of cement by 50 per cent with effect from October 1st, 2023.
The price of a 50kg bag of cement is sold between N4,600 to N6,000 in Lagos, Ogun, Ondo, and Abuja.
A few days ago, BUA Cement 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.