Bloomberg has reported that Dangote Cement has raised the price of cement in Nigeria after a devaluation in the naira and disruptions to its natural-gas supply resulted in substantially higher operating costs.
The company raised the price of cement by 600 naira (US$1.90) per bag in its home country, erasing a price cut in September last year.
Nigerian companies are fighting a downturn in the Nigerian economy, which slumped 2.1% year-on-year in the second quarter.
The naira has lost more than one third of its value since 20 June.
Dangote shares rose 0.2% to 175.89 naira by the close in Lagos, valuing the company at 3 trillion naira (US$8.9 billion).
WCT2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.
World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.
Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.
