Dangote PLC Drops Price on Cement - A property developers perspective

IKOYI, Nigeria - Nov. 13, 2014 - PRLog -- When the News Agency of Nigeria (NAN) recently announced Dangote Cement PLCs reduction of the prices of its cement products,  the news (no pun intended) was welcomed with mixed reactions .For us in the real estate industry, it’s a bonus of sorts. I’d like to see it as a “buy one get one free” scenario .A taste like honey to us developers, that ensures a sigh of relief when reviewing our BBQ! Yet a bitter pill for the rival cement manufacturing companies to swallow. But I dare say this is a very high bar and a heavy scale to balance by their competitors. One also wonders the ambivalent emotions dealers with their warehouse stocked to its capacity with cement are currently battling with! Well …”Que sera sera”.

An excellent form of business ingenuity, brilliantly crafted by Dangote and a clarion call proclaiming the company’s support of the Federal Government in its effort to cater for the housing needs of Nigerians, spearheaded by the transformation agenda of President Goodluck Jonathan's
administration. This represents a valued collaboration between Dangote Plc and the Federal Government to reduce this silent burden on us citizens. This government has once again demonstrated its responsibility that the housing and infrastructural deficit will be reduced before 2020.

When compared with the price of cement  in other West African countries like Ghana and Senegal, with a selling price range between N1200 and N1500 for a 50kg bag, a 40% reduction in price is a drastic cut and a laudable accomplishment by DangoteCement Plc.

In these times of rapid urbanization, where Nigerians can hardly afford befitting homes due to the high costs of building materials (which is an infrastructure and housing discrepancy in the country)., Will this be an indicator of a real estate boom? A decrease in cases of collapsed buildings due to substandard mortar used in erecting structures? What cement competitors call a monopoly, we developers call it redemption; the government calls it a transformation agenda to increase home-ownership, the home owners call it HOPE!

Above all, this is good news for every Nigerian who aspires to build a house or even trade in the cement industry. We are all optimistic and find this a welcoming gesture by Nigeria’s foremost conglomerate and a sign of better things to come .

Sijibomi Ogundele
CEO. Sujimoto Construction Limited

Biography:

Sujimoto Construction Limited achieves its mission in the establishment of classy housing units in Nigeria that can compete with its counterparts globally. From inception Sujimoto has always been strategically aligned with excellence, as illustrated in our strategic partnership with visionary real estate maestro and UNICEF goodwill ambassador Mr.Yazeed Alrahji, Chairman of DAEM Real Estate Investment Company Saudi Arabia; notably recognized as one of the top real estate development firms in the Middle East. With an international network and innovative practices his objective of propelling the firm into a 21st century property development of company of repute is fast becoming a reality.