FEC Approves Tax Incentives For Dangote - Business (2)

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FEC Approves Tax Incentives For Dangote - Business (2) - Nairaland

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Re: FEC Approves Tax Incentives For Dangote by chelseabmw(m): 8:17pm On May 18, 2016

Re: FEC Approves Tax Incentives For Dangote by Gr8amechi: 8:18pm On May 18, 2016

modath:

God knows I don't have anything against his person or business ventures but how he gets "lucky" with every successive government is a source of mystery!!

He should have fixed that road long before now!! That road shaved off more than 90mins of travel time between Abj and the SW...

Its state of disrepair contributed to the death trap and vehicle damaging expanse of okene-lokoja!! That road is real inilara and afonilori...

Anyway Alhaji Putin will always be Alhaji Putin sha...

it's simple, he always play safe not like our own business men that brag about not needing the government, example of what I am saying is the role he played in the immediate past election.

3 Likes

Re: FEC Approves Tax Incentives For Dangote by amuokuko: 8:22pm On May 18, 2016

Mynd44:
All hail Alhaji Putin.

Alaye ow far...
so u sef dey comment now

u don stop ur banning business

2 Likes

Re: FEC Approves Tax Incentives For Dangote by Bigdocemo(m): 8:26pm On May 18, 2016

OlujobaSamuel:

honestly, I don't know about the road, just speaking in comparison with the one at ibeshe, the road na eyesore before he established his factory there, but he reconstructed it.

Have you ever for once pass through that road?
He didn't construct the road to ilaro he stopped at Ibese and mind you ayetoro road still remain the same except that of the factory to Itori.

1 Like

Re: FEC Approves Tax Incentives For Dangote by Popri(f): 8:26pm On May 18, 2016

modath:

Aliko Dangote is the luckiest human being alive!!! Very soon he will be handed Nigeria to "manage"

Got Tax incentive to build the road that services his business, a road that was primarily damaged by his heavy duty trucks!!

IMO, this is a wrong move by this government
He should be given a bigger responsibility, This is NOTHING in comparism to his taxes, and no one should talk about his recent donation in Maiduguri...This is Nigeria not America

2 Likes 1 Share

Re: FEC Approves Tax Incentives For Dangote by ADEMOSU(m): 8:27pm On May 18, 2016

Stalwert:

If my memory serves me right that road has long been in a bad state. Though his trucks eventually murdered it beyond repair. I wonder does he even pay anything for using the mineral resources?He seems more interested in being world richest than doing more to developed our country.

MTN had pioneer status . a southee company . An indeginous company deserve better ,

3 Likes

Re: FEC Approves Tax Incentives For Dangote by loomer: 8:28pm On May 18, 2016

modath:

Aliko Dangote is the luckiest human being alive!!! Very soon he will be handed Nigeria to "manage"

Got Tax incentive to build the road that services his business, a road that was primarily damaged by his heavy duty trucks!!

I swear, the thing tire me, and people dey hail govt

1 Like

Re: FEC Approves Tax Incentives For Dangote by Topiipii(m): 8:28pm On May 18, 2016

modath:

Aliko Dangote is the luckiest human being alive!!! Very soon he will be handed Nigeria to "manage"

Got Tax incentive to build the road that services his business, a road that was primarily damaged by his heavy duty trucks!!

It's not his duty to fix the road, he pays taxes for this reason.

Re: FEC Approves Tax Incentives For Dangote by Deen77: 8:29pm On May 18, 2016

modath:

Do you honestly believe any road exists that wasn't "ever in good condition"?

The road was in a good shape even while the factory was being constructed,soon as he finished and those heavy trucks became a permanent fixture on that road, gbege happened....

I'm talking 07-11 or thereabout...

What is Dangote busines in that, let his truck uproot d road, government is to construct road.

Because you have industry you most repair the damage road, which law is that.

2 Likes

Re: FEC Approves Tax Incentives For Dangote by omolola15(m): 8:33pm On May 18, 2016

modath:

Do you honestly believe any road exists that wasn't "ever in good condition"?

The road was in a good shape even while the factory was being constructed,soon as he finished and those heavy trucks became a permanent fixture on that road, gbege happened....

I'm talking 07-11 or thereabout...

I'm from ogun state. And i know much about the ibese road. I also have friends that works at Dangote cement. The road was in mess before he fixed it. He even created alternative road without a penny from the government. I'm very sure of this. Just like oyedepo wanted to fix the otta road. But for some reason the government is not letting him. Hence they grade the road and fill loop holes every Saturday.

1 Like

Re: FEC Approves Tax Incentives For Dangote by omolola15(m): 8:35pm On May 18, 2016

modath:

Do you honestly believe any road exists that wasn't "ever in good condition"?

The road was in a good shape even while the factory was being constructed,soon as he finished and those heavy trucks became a permanent fixture on that road, gbege happened....

I'm talking 07-11 or thereabout...

I'm from ogun state. And i know much about the ibese road. I also have friends that works at Dangote cement. The road was in a big mess before he fixed it. He even created alternative road without a penny from the government. I'm very sure of this. Just like oyedepo wanted to fix the otta road. But for some reason the government is not letting him. Hence they grade the road and fill loop holes every Saturday.

1 Like

Re: FEC Approves Tax Incentives For Dangote by HomeOfMe(f): 8:37pm On May 18, 2016

modath:

Aliko Dangote is the luckiest human being alive!!! Very soon he will be handed Nigeria to "manage"

Got Tax incentive to build the road that services his business, a road that was primarily damaged by his heavy duty trucks!!

He's indeed very lucky,despite the fact that he was mentioned in #panamapapers

1 Like

Re: FEC Approves Tax Incentives For Dangote by mekaboy(m): 8:39pm On May 18, 2016

The monopoly is back again. So with 30% the federal govt goes after competitors to pay full 100%. Making it easy for dangote to sell 30% less and kill their business.

How much will the road cost, how much will the cash value of the tax be? What are the details of this action ?

We know most looted funds from major politicians is invested in the group.

I prefer we know the cost of fixing the road, let the people pay a token to use the road and we know how much we have paid and how much is left.

All these shady agreements without details is the same as corruption. You take decision on behalf of Nigerians without giving them details. This is how those who have looted Nigerians funds that have favour with govt will take advantage of the current economic situation and make us permanent slaves to their generation.

9 Likes

Re: FEC Approves Tax Incentives For Dangote by Anabel(f): 8:42pm On May 18, 2016

Stalwert:

If my memory serves me right that road has long been in a bad state. Though his trucks eventually murdered it beyond repair. I wonder does he even pay anything for using the mineral resources?He seems more interested in being world richest than doing more to developed our country.

This is the beginning of road building for him. Nice talk sha

Re: FEC Approves Tax Incentives For Dangote by luvinhubby(m): 8:42pm On May 18, 2016

modath:

Aliko Dangote is the luckiest human being alive!!! Very soon he will be handed Nigeria to "manage"

Got Tax incentive to build the road that services his business, a road that was primarily damaged by his heavy duty trucks!!

Very sensible post.

Re: FEC Approves Tax Incentives For Dangote by Chinom(m): 8:45pm On May 18, 2016

A misplaced priority and a reckless abuse of 'Tax incentives'. I'm not against giving Dangote or anybody tax incentives, but it should be given for investments in petroleum refineries and electricity generation and transmission.

Not for Dangote to use his own surplus product to build one single road.

1 Like 1 Share

Re: FEC Approves Tax Incentives For Dangote by amazingspiderma: 8:47pm On May 18, 2016

DropShot:
I think this is wrong.

We need full details to be able to determine if this is good for us or not.
1. Is the 30% concession tax for the entire Dangote Grp or for just the cement factory in Lokoja?

2. For how many years will Dangote hold back the 30% tax?

3. By when must the project be completed and handed over?

4. Is there a minmum quality standard specified for the construction work?

5. Will the FG supervise the work to ensure standards are met?

6. Has a cost estimate for the project been done and compared to the 30% concession tax. That way, we will know how much we lose or gain by this arrangement.

Without answers to these questions, I say it's not a good strategy.

The devil is in the details.

Re: FEC Approves Tax Incentives For Dangote by twinskenny(m): 8:47pm On May 18, 2016

modath:

Aliko Dangote is the luckiest human being alive!!! Very soon he will be handed Nigeria to "manage"

Got Tax incentive to build the road that services his business, a road that was primarily damaged by his heavy duty trucks!!

been on that road before the construction of the factory....that road has been in bad state for so long..I remembered a night when we almost got robbed by arm bandits. The road has been bad ever since

1 Like

Re: FEC Approves Tax Incentives For Dangote by Waspy(m): 8:47pm On May 18, 2016

Dangote Dangote.....Hmmmm. Just today on Channels TV, a man (the chairman Sapele Chamber of Commerce) blew open how Alh Dang has been robbing the national coffers, with help from stupid persons in govt, all in the name of duty free waivers, sole right to importation and multi billion dollars loan assistance.

I'm even thinking there's a connection btw his new tomato paste factory and the recent scarcity of Tomatoes

Above all, he's one lucky man

Re: FEC Approves Tax Incentives For Dangote by ColeworldMD(m): 8:51pm On May 18, 2016

modath:

Aliko Dangote is the luckiest human being alive!!! Very soon he will be handed Nigeria to "manage"

Got Tax incentive to build the road that services his business, a road that was primarily damaged by his heavy duty trucks!!

he was recently rated as most powerful man in the country ahead of Mr. President, I don't think that was a fallacy. Unfortunately he's a capitalist & a monopolist, that's not the kind of person you'd want to have all that money & power. This is just a tip of the iceberg compared to when the refinery is completed. It's left for our govt to protect us.

Re: FEC Approves Tax Incentives For Dangote by gabbytabby: 8:51pm On May 18, 2016

modath:

Aliko Dangote is the luckiest human being alive!!! Very soon he will be handed Nigeria to "manage"

Got Tax incentive to build the road that services his business, a road that was primarily damaged by his heavy duty trucks!!

Here they go again wailing wailers enemies of progress. One would guess that roads were meant to be used to the exclusion of trailers. Dangote heavy duty and othersmust fly on their wailing carriage.

qwuantinnu. shocked

1 Like

Re: FEC Approves Tax Incentives For Dangote by OlujobaSamuel: 8:52pm On May 18, 2016

Bigdocemo:

Have you ever for once pass through that road?
He didn't construct the road to ilaro he stopped at Ibese and mind you ayetoro road still remain the same except that of the factory to Itori.

I do pass through the road bro, he reconstructed the bad portion, although not to ilaro junction, but substantial portion was covered.
my comment which you quoted was in response to modath's comment on his trucks damaging the road before he repaired it, not in anyway praising or condemning him. CSR is his duty a MNC.

1 Like

Re: FEC Approves Tax Incentives For Dangote by Ibime(m): 8:52pm On May 18, 2016

I expect Dangote Group to start setting transfer prices between his companies to take advantage of this tax relief.

Re: FEC Approves Tax Incentives For Dangote by 2n2k(m): 8:55pm On May 18, 2016

ADEMOSU:

MTN had pioneer status . a southee company . An indeginous company deserve better ,

Million likes.

I don't know why Nigerians always go gaga once indigenous company is mentioned. It is the duty of government to provide infrastructure as incentive for industrial development. Like one poster up there said, let his trucks even uproot the roads, it is government duty to put it back in order.

How many roads have government forced the depot owners to reconstruct just because their tankers passed on them? If Dangote had not put up the cement factories in Nigeria, we would have been importing. Will the cement be flown into hinterland from the ports?

What government has done now is to collect at least 30% of tax for many years in advance from Dangote on the future profits that he has not yet made.

If he had got pioneer status like all these foreign telecoms companies that came to Nigeria, he would have been entitled to tax-free profit for at least 4 years. Nobody shouted about MTN, Etisalat and even Glo when they got that.

5 Likes 2 Shares

Re: FEC Approves Tax Incentives For Dangote by Nobody: 8:56pm On May 18, 2016

modath:

Aliko Dangote is the luckiest human being alive!!! Very soon he will be handed Nigeria to "manage"

Got Tax incentive to build the road that services his business, a road that was primarily damaged by his heavy duty trucks!!

Spot on but on a second tot, its a good idea.
We are not sure if govt will fix that road in 8yrs to come.
They shouldn't just bargain reconstruction alone but include maintainance for 20yrs

1 Like

Re: FEC Approves Tax Incentives For Dangote by Ibime(m): 8:57pm On May 18, 2016

modath:

Got Tax incentive to build the road that services his business, a road that was primarily damaged by his heavy duty trucks!!

It is not the job of private business to maintain infrastructure regardless of use.

They pay taxes which entitles them to use infrastructure to carry out their business. Govt benefits in so many ways such as taxes, employment and personal income taxes of the company employees.

It is Govt job to ensure that infrastructure is in place to attract private businesses

3 Likes

Re: FEC Approves Tax Incentives For Dangote by justmenoni: 8:58pm On May 18, 2016

Why can't they borrow money from dangote and pay him back with tax incentives

Asking dangote to construct the road for tax incentives is almost same with the Chinese loan where the fg will use the loan to purchase ftom xhina!!

So if the road isn't worth morr than 1billion and dangote decide to announce it as 10billion isn't this bad?

Re: FEC Approves Tax Incentives For Dangote by modath(f): 9:01pm On May 18, 2016

twinskenny:
been on that road before the construction of the factory....that road has been in bad state for so long..I remembered a night when we almost got robbed by arm bandits. The road has been bad ever since

Which year are we talking? & bear in mind that "bad" road in Nigeria is relative...

Deen77

It's called social responsibility, it's global best practice, we are used to so little that just a little more feels like so much more!!

Dangote made a trillion naira profit and only paid 12bn as tax, which translates to 1%! Where else does that happen but this banana republic?

BTW, he is getting CBN forex for his Congo cement factory, does that sound like it's ok to you?

I still maintain, fixing that road is his responsibility!!

omolola15,

If he fixed Ibeshe road without a penny, why not Obajana?

Re: FEC Approves Tax Incentives For Dangote by freshdude99(m): 9:02pm On May 18, 2016

modath:

God knows I don't have anything against his person or business ventures but how he gets "lucky" with every successive government is a source of mystery!!

He should have fixed that road long before now!! That road shaved off more than 90mins of travel time between Abj and the SW...

Its state of disrepair contributed to the death trap and vehicle damaging expanse of okene-lokoja!! That road is real inilara and afonilori...

Anyway Alhaji Putin will always be Alhaji Putin sha...

My dear ur analysis so on point! For years this man evaded tax and just because he couldn't achieve that with pmb on board, he decided to do this.
I ask this, what about his csr obligations to the host community? After getting almost everything free in this useless country and couldn't fix ordinary 43km of road.
This country is seriously doomed and that's one more reason I question the need for the so called billionaires we keep blindly celebrating in this country. See the other one that called himself otedola and aluko just reaping the foolish country of its wealth without anything to show for it. How much did they sell African petrol to otedola? Peanut and he quickly renamed it forte oil, why couldn't he take cue from adenuga, at least he stands out among them, he built glo from scratch, conoil and equatorial trust bank. Such entrepreneurs I respect not thieves like otedola, dangote and co hell bent on suckling this economy dry

6 Likes 1 Share

Re: FEC Approves Tax Incentives For Dangote by Nobody: 9:04pm On May 18, 2016

Forget it! The main composite of the cement to be used for the road will be reduced or adulterated to lower quality!

Re: FEC Approves Tax Incentives For Dangote by COMPAQ(m): 9:04pm On May 18, 2016

DropShot:
I think this is wrong.

We need full details to be able to determine if this is good for us or not.
1. Is the 30% concession tax for the entire Dangote Grp or for just the cement factory in Lokoja?

2. For how many years will Dangote hold back the 30% tax?

3. By when must the project be completed and handed over?

4. Is there a minmum quality standard specified for the construction work?

5. Will the FG supervise the work to ensure standards are met?

6. Has a cost estimate for the project been done and compared to the 30% concession tax. That way, we will know how much we lose or gain by this arrangement.

Without answers to these questions, I say it's not a good strategy.

Spoken with true common sense, which unfortunately is not common at all in government.

2 Likes 1 Share

Re: FEC Approves Tax Incentives For Dangote by COMPAQ(m): 9:06pm On May 18, 2016

freshdude99:

My dear ur analysis so on point! For years this man evaded tax and just because he couldn't achieve that with pmb on board, he decided to do this.
I ask this, what about his csr obligations to the host community? After getting almost everything free in this useless country and couldn't fix ordinary 43km of road.
This country is seriously doomed and that's one more reason I question the need for the so called billionaires we keep blindly celebrating in this country. See the other one that called himself otedola and aluko just reaping the foolish country of its wealth without anything to show for it. How much did they sell African petrol to otedola? Peanut and he quickly renamed it forte oil, why couldn't he take cue from adenuga, at least he stands out among them, he built glo from scratch, conoil and equatorial trust bank. Such entrepreneurs I respect not thieves like otedola, dangote and co hell bent on suckling this economy dry

And where did Adenuga magically sporting from?

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