Africa’s richest man who controls the bulk of the continent’s cement supplies, Alhaji Aliko Dangote has found himself coming under unusual pressure after local rival in Nigeria, BUA Cement unilaterally crashed its price for cement on October 1 to mark the country’s 63rd Independence Anniversary.
BUA Cement, a prominent cement manufacturing company, announced a significant reduction in the ex-factory price of cement to 3,500 Naira per bag, effective immediately. The announcement, made in a heartfelt letter on October 1st, 2023, garnered widespread appreciation and applause from the Nigerian public.
Amidst the cheers for BUA Cement’s generosity, Dangote Cement found itself under intense scrutiny on social media platforms, particularly Twitter to follow suit.
A mail from GWG.ng to a senior official of the Dangote Organisation on the company’s response to the price cut by BUA has not been responded to.
What Dangote did was to wish Nigerians happy Independence on social media. Dangote Cement’s Twitter account shared a seemingly heartfelt Independence Day message: “The Board, Management and staff of Dangote Industries Limited wish all Nigerians around the world a Happy 63rd Independence Day. #NigeriaAt63 #October1st.” However, the festive greetings did not pacify the public, who had hoped for a tangible, positive change akin to BUA Cement’s price reduction.
But Nigerians are asking more from the continent’s richest man.
Netizens swiftly took to Dangote Cement’s comment section to express their disappointment and frustration. @GwejeTG’s comment echoed the general sentiment, emphasizing that BUA Cement’s substantial price reduction was viewed as a genuine gift to the Nigerian people, rendering Dangote’s message seemingly empty and insincere by comparison.
@AustineOBrian questioned the delay in Dangote Cement’s response, highlighting the widespread anticipation for a similar benevolent gesture from the industry giant.
@Mikhalid079 urged Dangote Cement to align their greetings with action, emphasizing the urgency of reducing product prices, which are often deemed unaffordable by many Nigerians.
@Gigultra’s comment underscored the prevailing frustration, emphasizing how Dangote Cement’s failure to lower prices was perceived as a significant obstacle to progress and prosperity in the nation.
The public outcry reflected a widespread sentiment: Nigerians expected tangible initiatives, especially from prominent corporations, on Independence Day. BUA Cement’s proactive approach served as a stark reminder of the positive impact corporations could have on the lives of ordinary citizens.
GwG.ng captured some comments below:
@GwejeTG:Whilst BUA cement is offering Nigerians a price reduction for a bag of cement as an independence gift, yours is just a hollow independent message.
Your monopoly is gradually declining and it will decline more. BUA is now our brand.
@AustineOBrian: Bua wished Nigerians very well. When are you taking the necessary step to reduce price of cement?.
@Mikhalid079: Keep your greeting and reduce prices of the products that you charge Nigerians exorbitantly for.
@Gigultra: U people can’t reduce you price , you are the problem of Nigeria too bad.
As the online discourse continued, the incident highlighted the growing importance of corporate social responsibility and fair pricing in Nigeria. Citizens fervently hoped that the pressure on Dangote Cement would inspire them to reconsider their pricing strategies, fostering greater transparency, affordability, and accountability within the corporate landscape of the nation.