Reports just in, say Dangote Cement Company has announced a N300 price slash on its product.

According to Daily Trust Newspapers, "Dangote Cement would reduce the price of its market-leading 3X brand of cement in Nigeria by N300 per 50kg bag, or N6,000 per tonne."

Speaking on the new development, the Chief Executive of Dangote Cement, Onne van der Weijde, said: “Our cost-saving initiatives in Nigeria have enabled us to cut the price of cement to a level that is good for consumers yet still allows us to achieve strong returns that are sustainable in the longer term.”

The price slash takes effect immediately.