Dangote Cement raises prices
Published by Joseph Green,
Editor
World Cement,
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).
Edited from source by Joseph Green. Source: Bloomberg
Read the article online at: https://www.worldcement.com/africa-middle-east/06092016/dangote-cement-raises-prices-201/
You might also like
The World Cement Podcast - CleanTech & Venture Capital
Our guest for this episode of the World Cement Podcast is Alfredo Carrato, Venture Capital Advisor for CEMEX Ventures. Listen in to the conversation as World Cement's Senior Editor, David Bizley, and Alfredo discuss the role of venture capital and cleantech in enabling the cement industry's green transition.
Tune in to the World Cement Podcast on your favourite podcast app today.
