Cement Price To Crash, Says Dangote

THE President of Dangote Group of Companies, Alhaji Aliko Dangote, has appealed to Nigerians to exercise patience over the high cost of cement, saying that the price of the commodity would crash in the coming weeks.

Addressing journalists at the Makurdi airport after holding a meeting with Governor Gabriel Suswam, Dangote said there was no cause for alarm as the process for reducing the cost of cement was already in motion.

He said that there was no reason the price of cement should exceed N1600 per bag in view of the location of a cement factory in the state.

Dangote explained that the high price of cement was due to the generation of electricity by the cement companies due to the failure of the public electricity company to supply electricity.

He added that the fuel to power the machines for production had increased the price of cement in the country.

The business mogul stated that the Benue Cement Company would start production by Thursday, pointing out that the factory would add 300 trucks daily to boost cement supply.

Dangote noted that his meeting with Governor Suswam was focused on the industrialization prospects of Benue State.