Dangote Speaks on Reported Sales Promo, Crashing Cement Bag Price to N2,400
- Dangote Cement has reacted to reports of sales promotion and price adjustment for its products to N2,400
- The reported price adjustment was widely circulated on social media, especially on WhatsApp groups
- Legit.ng reached out to Dangote Group to confirm the rumoured sales promotion plan and price slash
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Dangote Cement Plc, one of the prized assets of Nigeria's richest man, Aliko Dangote, has denied reports on some online platforms (not Legit.ng) regarding a purported sales promotion and price adjustment.
The company clarified that it has not embarked on any promotion or reviewed its product prices as claimed in a fake statement dated Sunday, October 8, 2023, circulated on social media.
Source: Facebook
The statement purportedly from the firm claimed that Dangote Cement would offer its cement products to the public at a promotional factory price of just N2,410 per bag.
Dangote reacts to the promo price
Reacting, the Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina, described the reports as mischievous, malicious, and false.
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He said:
"The Management has formally notified the law enforcement agents to track down, name, and shame the perpetrators of this devious and deceptive information."
"Dangote’s Cement urged customers and other stakeholders to continue patronising the high-quality cement brand and be careful of scammers, who are bent on defrauding them of their funds."
More price reviews
This is not the first time a false report of Dangote Cement slashing the price of cement has hit social media.
In an earlier report, Legit.ng was once again compelled to contact Dangote Group following claims that the company would reduce cement prices from N5,500 to N2,700 on October 1, 2023, to celebrate Nigerian independence.
The price slash was denied.
The rumours have intensified since BUA Group announced a reduction in the price of its cement from N5,500 to to N3,500.
Dangote Cement, MTN, 8 Other Companies Lose Over N630bn in 6 Months After Tinubu, CBN's Naira Decision
Meanwhile, in another report, Legit.ng revealed that several companies listed on the Nigerian exchange lamented significant foreign exchange (FX) losses due to the devaluation of the naira.
On June 14, 2023, the Central Bank of Nigeria (CBN), on President Bola Tinubu's instruction, announced the naira's floating.
This gave room for market forces to determine the exchange rate.
The decision has led to a severe depreciation of the naira against different foreign currencies, taking a severe toll on the financials of companies in Nigeria.
Source: Legit.ng
