Dangote Vs Ibeto: Judge Wants Single Hearing - Business (2) - Nairaland
Nairaland Forum / Nairaland / General / Business / Dangote Vs Ibeto: Judge Wants Single Hearing (9450 Views)
Dangote, Ibeto: Battle For Cement Market / Dangote’s Suit Against Ibeto Is Anti-competitive – FG / Dangote In Competition Trouble As Ibeto Cement Reopens (2) (3) (4)
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by Chinom(m): 11:41am On Jul 05, 2012 |
We need more cement manufacturers in Nigeria. I do not care about what tribe the producer comes from. Cement should not sell for more than N1000.= . We do not need monopolists in such a vital product. Housing is our fundermental right. |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by sadi78: 11:43am On Jul 05, 2012 |
ifechukwue1: dangote is a greedy extremist minded hausa man imagine. after conniving with obj. against ibeto 4 abt 4yrs dis devilish malam is nt tired of conniving May God purnish him n dat his business..,.i'll neva buy anymore of dangote goods again he's a bastardDangote products is must buy for every Nigerian directly or indirectly! You must eat bread or cake made of Dangote flour and Sugar, or Block made by Dangote cement or you can eat Macaroni and Spaghetti in Eateries made by Dangote! He dominated the Nigerian commodity market due to ur (Igbo) laziness and need of quick money! That is why your presence in seen in prison worldwide for drugs, cocaine, armed and other related offences! 2 Likes |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by sadi78: 11:44am On Jul 05, 2012 |
ifechukwue1: dangote is a greedy extremist minded hausa man imagine. after conniving with obj. against ibeto 4 abt 4yrs dis devilish malam is nt tired of conniving May God purnish him n dat his business..,.i'll neva buy anymore of dangote goods again he's a bastardDangote products is must buy for every Nigerian directly or indirectly! You must eat bread or cake made of Dangote flour and Sugar, or Block made by Dangote cement or you can eat Macaroni and Spaghetti in Eateries made by Dangote! He dominated the Nigerian commodity market due to ur (Igbo) laziness and need of quick money! That is why your presence in seen in prison worldwide for drugs, cocaine, armed robbery and other related offences! 2 Likes |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by ifeadigo(m): 11:45am On Jul 05, 2012 |
northern monopoly |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by ACM10: 11:46am On Jul 05, 2012 |
Chinom: We need more cement manufacturers in Nigeria. I do not care about what tribe the producer comes from. Cement should not sell for more than N1000.= . We do not need monopolists in such a vital product. Housing is our fundermental right. Dangote will prefer Nigerians to live in shacks like refugees in Darfur while he pops champagne with the most affluent on this planet |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by maigaskiya1: 11:50am On Jul 05, 2012 |
ZUBY77: Dangote is such a wicked business man. Do you know how much a ag of cement cost in the east? He is following the trend of marginalizing igbos since after the war. Your time is up dangote. No one can stop a moving traininfact its high tyme we boycot d consumptn of dangote cement in d s s nd s e.he is a bastard. |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by OYINBOGOJU(m): 12:06pm On Jul 05, 2012 |
Oligarchy that is what Dangote is Greed and Selfishness will kill him soon. |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by Nobody: 12:08pm On Jul 05, 2012 |
Some of you Igbo posters here should cover your faces in shame? What is this false sense of superiority you display in public without shame? Yet, you have no stand in the country than others. I dont know why some of you dont use ur senses. You just make unnecessary enemies for yourselves. Why abuse other tribes? 1 Like |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by buchai: 12:31pm On Jul 05, 2012 |
Dangote is a noise maker, u wnt 2 monopolized all d sectors in Nigeria dat's imposible, by d tym occupy nigerian wl start monitor'g d inflow n outflow of all sectors handles by FG all ds ur noise wl ceases 2 exist. 1 Like |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by Elueme: 12:43pm On Jul 05, 2012 |
This Aliko guy is desperately greedy.. Govt has its reserved right or policy to encourage smaller investors to growth which ordinarily will bring about needed economic emmacipation .. But Dangote and his company is just being greedy here.. He should remember how Abacha nurtured him to growth by granting him the monopoly to many businesses as well as making the policy to favor him now he has grown and doesn't want to see others measure up... He should cover himself in shame.. Rubbish! |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by Dainfamous: 12:46pm On Jul 05, 2012 |
Greedy bastard his now thinking like a dictator thank GOD hausa have lost power very greedy set of people. |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by amosy007: 12:55pm On Jul 05, 2012 |
CHIDI EJIOGU: This dangote person is a serious tribalist.choi.. See comment *i spit on ur comment* |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by ebamma(m): 12:56pm On Jul 05, 2012 |
una even sabi read english sef, dangote wants the import waiver to be revoked and to me i think he is right.imagine ibeto importing cement materials into the country without paying customs duty and selling it at a cheaper rate,if u were his competitor what will u have done? |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by Nobody: 1:07pm On Jul 05, 2012 |
I have always said it that dangote aint a businessman he is too scared of competition. Remove political favour and he is finished. |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by Mmiriariugwu: 1:08pm On Jul 05, 2012 |
ACM10:You r right my dear.dangote cement can't measure up with ibeto or unicem in terms of quality.am talkin as an xpert in a field.dat brand is nt 2 b trustd at all! Well let's see how it goes 1 Like |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by Nobody: 1:14pm On Jul 05, 2012 |
I will never in my whole entire life have respect for our billionaires, If Adenuga took the PTDF money to pay for license of Globacom, Dangote on the other hand has monopolized sugar & cement after failing to crush Ibeto, Indomie and Honey Well in his trickery game to out sell them; please can anyone tell me why Otedola is clean at every business juncture in a country like ours! These are men who do alot of Tax evasion, bad loans and all that! |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by Nobody: 1:18pm On Jul 05, 2012 |
Mmiriariugwu: You r right my dear.dangote cement can't measure up with ibeto or unicem in terms of quality.am talkin as an xpert in a field.dat brand is nt 2 b trustd at all! Well let's see how it goes ACM10: Can you imagine? |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by ZUBY77(m): 1:32pm On Jul 05, 2012 |
sadi78: Dangote is not a wicked man! He just dominated the market due to ur slumber! You know you igbos are not hard working, you are masters in piracy and drug pushing! Donkey with a keyboard. Igbos are lazy right? Federal govt are building alaamajiri schools for who? You must be new to media 1 Like |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by gidiMonsta(m): 1:32pm On Jul 05, 2012 |
Dangote is not a tribalist, he's just a very savvy businessman. Allowing IBETO to import cement and sell at lower or at the same rate with a locally produced Dangote Cement will be suicide for his investments in his local plants. Why should the FGN give import waivers to ibeto when we have local plants employing thousands of Nigerians? 2 Likes |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by AK481(m): 1:41pm On Jul 05, 2012 |
Why r people not seeing what I m seeing? Dangote on one hand is manufacturing locally and employing thousands of nigerian graduate n school cert holder,while on the other hand ibeto is "importing" all ready made cement,indirectly employing thousands of foreigner. Keeping sentiment aside,I think ibeto should be discouraged by fire by force against importation,let him build plants n employ us. I don't av a job............ 3 Likes |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by rhymz(m): 1:47pm On Jul 05, 2012 |
DNESDAY, JULY 4TH, 2012 By Tunde Opeseitan, Snr Reporter, Lagos Billionaire businessman and President of Dangote Group, Aliko Dangote, has sued the Federal Government at a Federal High Court sitting in Lagos over a waiver granted to one of his major competitors in the cement manufacturing industry, Ibeto Cement Company. Dangote, who filed the suit through one of his companies, Dangote Cement Limited, is seeking the revocation of the purported waiver to Ibeto together with an order compelling Ibeto and its subsidiaries to pay to the Federal Government some unpaid import duties estimated at billions of naira. When the case came up on Tuesday, Justice Binta Murtala-Nyako ruled that she would conduct a simultaneous hearing on Dangote’s originating motion and the defendants’ preliminary objection with a view to saving time. The judge maintained her position to take all pending applications at once despite argument to the contrary by the two lead defence lawyers, Onyechi Ikpeazu (SAN) and Fabian Ajogwu (SAN). Dangote had, in the suit named Ibeto and its subsidiaries (IBG Investment Limited, Derima Ventures Ltd), Federal Republic of Nigeria, Attorney General of the Federation, Federal Ministry of Finanace, Federal Ministry of Trade and Investment, Board of Customs and Excise, Federal Inland Revenue Service (FIRS) and Nigerian Ports Authority (NPA) as co-defendants. Counsel to Ibeto and its subsidiaries, Ikpeazu, and his counterpart for the government agencies, Ajogwu, had argued that since their objection challenged the court’s jurisdiction, the preliminary objection ought to be determined first and separately. It is Dangote Cement’s claim that Ibeto, acting in concert with its subsidiaries, IBG and Derima Ventures, suppressed facts and acted fraudulently in obtaining a consent judgment against the Federal Government in consolidated suits marked FHC/Abj/ CS/400/2006 and FHC/Abj/CS/496/2010. In the consent judgment, the court ordered the government to pay Ibeto about N7.8 billion for the unjustified closure of its plant between 2005 and 2007 and set aside a 2010 Presidential directive raising import duties and abolishing the import waiver granted Ibeto between 2007 and 2017. By the judgment, Ibeto was to continue paying 5 per cent import duty till 2017. Dangote further accused Ibeto and other defendants in the suit of colluding with each other to confer an advantage on Ibeto and its subsidiaries, by allegedly being allowed to import bulk cement with only 5 per cent import tax, excluding Value Added Tax (VAT) as against a Presidential directive of July 8, 2010 directing all cement importers to pay 20 per cent import duty and 5 per cent VAT. The plaintiff, which claimed to be the largest investor in cement manufacturing in the country, argued that the non- implementation of the Presidential directive of 2010 and other earlier directives regulating the tax on imported cement, has denied the Federal Government, FIRS and related agencies of their deserved incomes from such importation. It noted, for instance, that Ibeto, through its subsidiaries, allegedly denied the government of revenue estimated at about N880 million in 2008, N2 billion in 2009, N4.2 billion in 2010 and N8.9 billion in 2011. Dangote, in its originating summons, set seven questions for the court’s determination and urged the court to among others, declare that the President lacked the powers to waive or alter the provisions of the VAT Act without the National Assembly. It also prayed the court to declare that the 2010 Presidential directive constituted a cancellation of the waiver or tax relief granted Ibeto in 2007. The plaintiff urged the court to order the Federal Government to recover all duties and taxes owed by Ibeto and its subsidiaries, by virtue of the 2010 directive, an order setting aside the consent judgment and an order directing Ibeto, IBG and Deriva to refund the N7.8 billion paid to it by the government by virtue of the judgment. It further prayed for an order of perpetual injunction restraining the three companies from further importing cement into the country except as newly approved by the appropriate authorities under the current fiscal tax policy stipulations currently in force. The Federal Government, in its counter affidavit urged the court to dismiss the suit. It said Dangote’s claims in the suit were “anti-competition and designed to control the entire cement industry and leave Nigerians at the mercy of the plaintiff’s (Dangote’s) price whims and caprices.” It denied Dangote’s allegation that the consent judgment was obtained fraudulently. Government also denied that Ibeto suppressed any fact and misled the court into granting the consent judgment. Besides, government also queried Dangote’s locus standi in instituting the suit. It argued that since Dangote was not a party in the consolidated suits in which the consent judgment was given, and since it was not directly affected by the judgment, it lacked the right to challenge the judgment. Government also contended that since Dangote lacked the statutory powers to recover unpaid tax on behalf of the government, it cannot institute cases with the aim of recovering government’s purported unpaid tax. Also in their joint counter affidavit, Ibeto, IBG and Derima denied all allegations by Dangote. They denied any allegation of fraud and misrepresentation. They claimed to have legitimately consent judgment and the Presidential waiver, allowing them to import bulk cement by paying 5 per cent import duty between 2007 and 2017. 1 Like |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by AK481(m): 1:47pm On Jul 05, 2012 |
ebamma: una even sabi read english sef, dangote wants the import waiver to be revoked and to me i think he is right.imagine ibeto importing cement materials into the country without paying customs duty and selling it at a cheaper rate,if u were his competitor what will u have done? I will close my factory,sack all my workers n join in total n absolute importation.....abeg ask them how good it s going to be 4 nigeria.dan is on point joor. |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by info4bayempire: 1:47pm On Jul 05, 2012 |
Dangote should put his mouth outside other pple business affairs I promise him soon I will buy dangote as a whole.U can't monopolise business in Nigeria due to your selfishness Nigeria government is banning some importation of goods how fair is that? 1 Like |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by rhymz(m): 2:04pm On Jul 05, 2012 |
AK 48: Why r people not seeing what I m seeing?My friend, it is you who has not been following the goings-on in Nigeria's Cement factory. In 2005 Dangote in connivance with FG, and the Lafarge group forced Ibeto( who was then the largest importer of Cement) out of business under the pretence that he, Dangote was ready to start manufacturing cement locally even when it was then very clear that he could not meet up with demands. What did he do after forcing his major competitor out, he increased his import quota and monopolized the cement industries. Just as he claimed he was building a Cement factory to cater for the market, Ibeto to too had a very large cement factory he was building until FG and Dangote closed them, they both were importing cement and bagging them in their factories. Ibeto went to court and won thus giving rise to the benefits he now enjoys, as we speak, nobody, I repeat none of them, Ibeto and Dangote has the capacity presently to meet the demand except through importation and bagging it in their factories, Fact. Forget all that noise Dangote was making about Obajana, their capacity is meagre and dangote still imports cement, if you doubt me, take a walk to his cement factory to confirm, what they do there is bagging of imported cement just thesame as Ibeto, so why is he crying loud. They are serving him his own medicine, he has no business acumene than to force compititor out of the game, now he has met his match in Ibeto he is screaming blue murder. 2 Likes |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by ortopazz(m): 2:14pm On Jul 05, 2012 |
ZUBY77: lw kmd! Mehn u crackd me gud man! 1 Like |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by ortopazz(m): 2:15pm On Jul 05, 2012 |
AK 48: Why r people not seeing what I m seeing? okay! |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by betrani(m): 2:45pm On Jul 05, 2012 |
ifechukwue1: dangote is a greedy extremist minded hausa man imagine. after conniving with obj. against ibeto 4 abt 4yrs dis devilish malam is nt tired of conniving May God purnish him n dat his business..,.i'll neva buy anymore of dangote goods again he's a bastardu can't do without this so-called bastard! He is everywhere! In ur bed, in ur kitchen in ur trouser, in ur pant, in ur mouth, in ur stomach! Where u pot ur joystick, I mean everywhere! Ur chic uses him when that time reaches, she washes with him, cooks with him, u see him in the fastfood outlets, u drink him in ur water, everywhere! Ok tell me hw u wan avoid am? I'm not in support of what is happenin, but thats a fact! |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by ACM10: 2:50pm On Jul 05, 2012 |
ebamma: una even sabi read english sef, dangote wants the import waiver to be revoked and to me i think he is right.imagine ibeto importing cement materials into the country without paying customs duty and selling it at a cheaper rate,if u were his competitor what will u have done? The import waiver was instituted to compensate Ibeto for all those time that he was unjustly banned thereby granting his competitor an edge. So Dangote must taste his own medicine. Remember that Dangote still enjoys waiver on a whole lots of commodities. This is simply greed in action. 1 Like |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by ACM10: 2:59pm On Jul 05, 2012 |
gidiMonsta: Dangote is not a tribalist, he's just a very savvy businessman. Allowing IBETO to import cement and sell at lower or at the same rate with a locally produced Dangote Cement will be suicide for his investments in his local plants. Why should the FGN give import waivers to ibeto when we have local plants employing thousands of Nigerians? Does Dangote import cement? Yes or No |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by ACM10: 3:01pm On Jul 05, 2012 |
AK 48: Why r people not seeing what I m seeing? Does Dangote import cement?  |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by Mrchippychappy(m): 4:01pm On Jul 05, 2012 |
AK 48: Why r people not seeing what I m seeing? You know sometimes it wouldn't hurt to do some personal research on google before talking a lot of trash here , after all google is your friend  . There is this MISCONCEPTION that dangote is the HERO of Nigeria's manufacturing industry and the only one responsible for employing millions of unemployed youths , while the latter is true its also wise to take note of the fact that MORE COMPANIES AND COMPETITION = MORE EMPLOYMENT and if dangote keeps suppressing other smaller companies willing to get into the Sugar and Cement industry then how do we increase the employment rate in the Nation ?FYI dangote does IMPORT cement :  If he is the HERO and the GOOD man some people paint him to be then why are the FG also accusing him of suppressing the competition ? http://www.thenationonlineng.net/2011/index.php/law/49039-fed-govt-dangote-in-legal-battle-over-cement-import-waiver.html  P:s: If you are unemployed get a job or make one 2 Likes |
| Re: Dangote Vs Ibeto: Judge Wants Single Hearing by Kuulnomsy(m): 4:49pm On Jul 05, 2012 |
Monopolizing market for 2 yrs, that's too much mehn  , just heard it for the first time, more cement industries should come up pls, the price of cement is getting outta hand.  |
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