Experts call on Dangote to bring down price of Cement as marketers play fast ones on builders - NEWS HOUNDS


Friday, October 6, 2023

Experts call on Dangote to bring down price of Cement as marketers play fast ones on builders

Ever since the bombshell dropped by BUA Group Chairman, Abdul Samad Rabiu that he was bringing down the price of cement there has been clamour for the reduction of Dangote Cement price. 

This is because he controls the larger share of the market and if BUA can bring the price down, there is no reason why other major stakeholders cannot do same.

Rather than take a cue, react to what BUA has done, Dangote has unfortunately kept quiet with a view to maximizing on the price disparity.

Unconfirmed reports claim that cement dealers as well as distributors have been rebagging BUA Cement and selling it as Dangote Cement thereby making the BUA brand unavailable. 

This according to our findings is to ensure that they make more profit from the current situation.

Investigations also revealed that some of the marketers have been claiming that they have not had supplies from BUA cement and so they cannot sell at the new rates.

Our findings however negate this. What we see in all these are attempts by marketers to make unnecessary gains at the expense of the common man.

Nigerians from all walks of life have been calling upon Dangote to adjust his own price to reflect the new reality. 

His refusal is giving the marketers and distributors the leeway to rebag and sell BUA products as if they are his own at exorbitant price to Nigerians and he’s making huge profit at the expense of Nigerians.

Only yesterday, Real Estate Developers Association of Nigeria, REDAN joined many stakeholders to urge Dangote to bring down the price of his own product so as to reduce the burden on Nigerians.

While commending Abdul Samad Rabiu for bringing down the price of cement to 3,500 naira, REDAN President, Dr Aliyu Wamakko who is also the Chairman/Chief Executive Officer of Jedo investment challenged Aliko Dangote and others in the cement business to emulate BUA.

“We in REDAN commend Abdul Samad Rabiu for his integrity, his tenacity and for being a fairly business person, and for that reason we call on other gladiators in the built industry that produce’s building materials to follow suit, somebody like Dangote and the rest of the people producing cement and other building materials in the country.

Many more groups are clamouring for same.

Building experts believe that if DANGOTE does not act on this, it simply means he doesn’t have the interest of Nigerians at heart and the industry will be plagued with crisis soon. 

A situation where two major players are selling virtually the same products at such different prices will ultimately play into the hands of unscrupulous distributors who will try to maximize by selling the cheaper ones at a costly price to make more profit, they added.

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