Mangal Cement Sends Message to Nigerians Over Claim on Selling Bag of Cement for N6,000
- Mangal Cement has addressed pricing information circulating on social media, which set the price of a bag of cement at N6,000.
- The latest cement company in Nigeria urged customers to consult only their official channels for accurate pricing
- The rising cost of a bag of cement in the country is a major concern for Nigerians, who are excited that increased competition will lead to lower prices
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Mangal Cement has issued a public statement regarding the cost of its cement product, which is circulating on social media.
The company, owned by Katsina-born billionaire Dahiru Mangal, started production in its newly built plant in Kogi state.
Source: Getty Images
The plant can produce 6,000 tons per day of cement, and Nigerians were excited that its entry into the Nigerian cement market would help lower prices.
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The excitement was evident in social media posts on the company's new sale price, N6,000 per bag.
Independent reports that the price of Dangote Cement ranges between N7,500 and N7,800 per 50 kg bag, while Lafarge Cement prices usually range from N7,400 to N7,600 per bag.
BUA Cement is sold between N7,500 and N7,700 per bag
Manal Cement denies selling a bag for N6k
Reacting to claims that the price of its bag of cement is N6,000, Mangal Cement said in a message released via X that the information shared on social media was not accurate.
The company statement reads:
“Dear Valued Customers, We have recently noticed false information circulating on social media regarding the price of our cement.
"For accurate and up-to-date pricing information, we kindly ask that you contact our customer service lines directly. Our team is available to provide all the details you need to make informed purchasing decisions.
"Please disregard any pricing information that does not come from our official channels or authorized dealers. Mangal Industries is committed to creating value to all its stakeholders.
"Thank you for your continued trust in our brand."
The company urged customers to disregard pricing information not from their official communications or authorised dealers.
Cement pricing in Nigeria
Legit.ng understands that the move aims to prevent confusion among its dealers.
A cement dealer, Ademola Lawal, explained that the cement factory price could be around N6,000 or less. No cement company will announce fixed prices.
He said:
'The retail price cannot be uniform across the country. This is true for all cement manufacturers. The retail price differs from the factory price.
"In some states, prices could be higher because dealers factor in the cost of transportation, among other expenses, to ensure a profit when selling to end users."
Cement manufacturers agree on new price
Legit.ng earlier reported that cement manufacturers had a meeting with the federal government to cement prices to between N7,000 and N8,000 per 50kg.
The minister of works initiated the meeting, David Umahi, and attended by his counterparts from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, in Abuja.
The meeting was part of efforts to identify the underlying reasons for the abrupt increase in commodity prices.
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Source: Legit.ng
