Nigerians have take a swipe against the alarming price of Dangote cement, selling for ₦1800 in Zambia; while it is sold at the rate of ₦3500 in Nigeria.
The Zambian Board of Commissions of the Competition and Consumer Protection said it ordered Lafarage Zambia Plc, Dangote Cement Zambia Limited and Mpande limestone to revert to cement prices ranging between Kwacha 99 to Kwacha 110, after there was an uproar over its recent increment.
The Board, however, said it was lenient with Dangote Cement Zambia Limited, for having corporated with the commission during the investigation.
According to Zambian News, the decision to fine Lafarage Zambia Plc and Mpande Limestone Limited was made during the 49th Board of Commissioners meeting for the adjudication of cases held in Lusaka on March 30, 2021.
The continuous increase of cement by the parties led the commission to subject that a possible collusion and an agreement to fix the prices of cement, and the commission carried out investigation of the year.
The Board, also resolved, and ordered Lafarage Zambia plc, Dangote Cement Zambia Limited and Mpande Limestone Limited to revert the pre-capital prices ranging between $4.5 – $5 (K99-K110) for a period of one year from the date of receipt of the Board decision; pursuant to section 59(3b) of the act.
Meanwhile, Nigerians, construction markets has revealed that Dangote cement sells at ₦3,500, while Lafarage sells at ₦3,400 about double of what Zambian pays for the same commodity.
Reacting, some said Dangote cement was sold for ₦4200 in their area. Here are the concerns raised by Nigerians via social media:
@Nazeer Bn Mohammad, “maybe Nigeria collect too much revenue from him which will make must for him to sell it at that price, or maybe Dangote pays FG at least 70% of 3500. It means FG is the one selling cement to Nigerians in disguise”.
@Omotayo Eniola, “just expects his refinery fuel pump price for minimum ₦300 per litre. He has become so rich in a poverty strike country, he’s no better than those corrupt politicians who loots our money”.
@Mohammed K Kyari, ” Too many shareholders involved and the money is at large despite its friction against dollars with little buyers in this country”.
@Awang Karel, “According to Bloomberg Dangote charge 3times the global average for his cement, this is because he has control of almost 70 percent of Nigeria cement market. Even this refinery he’s building he’d likely do the same. Nigerians may be celebrating but he’d corner the market, then inflict pain on Nigerians. That’s the way”.
@Zubudia Abaribe, “this Dangote of a man is one of our oppressors, so we must do whatever we can to free ourselves from them”.
@Emeuche Ucheoma, “please it’s ₦4100 in Nigeria not ₦3500. They brought down Ibeto cement which was considerably cheaper than Dangote to enjoy monopoly. The elites in Nigeria are simply our enemies within”.
@ Cent Peters, “Even here in Sierre Leone Dangote sells at ₦2000 (equivalent), that’s to show you how wicked these people are to their own people in that contraptions call Nigeria”.
“Emmy Fate, “Where them de sell cement ₦3500 for Nigeria right now, I have being buying ₦4200, for the past 1 month for my building project In the east”.
Lolo Ijeoma Njoku reporting, Obinwannem News