Nigerian CEMENT War!
Dangote’s Suit Against Ibeto is anti-competitive – FG.


The Federal Government has described a lawsuit brought against Ibeto Cement Company by Dangote Cement as anti-competitive.

In the suit, Dangote is seeking the withdrawal of an import waiver granted Chief Ibeto by the Federal government. The suit also seeks to have Ibeto Cement Company refund billions of Naira to the Federal Government as unpaid taxes and import duties.

Also named as defendants in the suit in which Dangote Cement is the plaintiff are subsidiaries of Ibeto: 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 and Nigerian Ports Authority.

In the suit Dangote alleges that Ibeto and his co-defendants colluded to give Ibeto companies an unfair advantage by reducing his tax exposure on bulk cement imports to 5% only. Dangote claims this contravenes a presidential directive issued on July 8th 2010 which ordered importers to pay 20% import duty and 5% Value Added Tax.

The plaintiff asked the court to order the Federal Government to recover the duties and taxes owed by Ibeto and to obtain a further refund of N 7.8 billion paid the company by the government as a result of an earlier court judgement.

The Federal Government in its counter affidavit has asked the court to dismiss the suit stating Dangote’s claims 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.”

http://www.igbolandforum.com/index.php?topic=1321.0

let us be honest that it is another ibo conspiracy against dangote since ibeto is an ibo company

I'm not bothered with this old man cries one bit, he is a very dubious fellow, IT WAS HE WHO LIED THAT MADE OBJ WITHDRAW IBETO'S LICENCE.

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SE/SS/MB should boycott Dangotes products

kettykin: SE/SS/MB should boycott Dangotes products

lol dum.b mentality. Why not go to Ghana or south africa where you would be burnt alive to go buy cement since you are too dumb to see how this has helped Nigeria.

Dumb dumb

@ Topic

Ibeto can penetrate other markets in Africa aka the eastern and central africa region.

Moreover when Nigeria is too big for Dangote to fully monopolise. The government needs to look into this

Monopoly is not good for any economy not to talk of an emerging economy

alj harem:

lol dum.b mentality. Why not go to Ghana or south africa where you would be burnt alive to go buy cement since you are too dumb to see how this has helped Nigeria.

Dumb dumb

@ Topic

Ibeto can penetrate other markets in Africa aka the eastern and central africa region.

Moreover when Nigeria is too big for Dangote to fully monopolise. The government needs to look into this

Monopoly is not good for any economy not to talk of an emerging economy

Dont you rather think you are the Dumb Fellow , here is a Dangote who is forming a Monopoly and using his connections with the Government to obstruct rivals and pusgh them out of Business and you expect people to keep quiet and still patronise his over priced Cement and sugar.

The Same dangote used his connections with OBJ to close the Business of Ibeto and make him loose Billions of Naira with his vessels starnded .

The same Dangote had rice importation banned in the 80s by IBB only for the IBB government to give exclusive right to importation of Rice making people who took loans to invest in rice farming to loose big time.

The same Dangote used a Stock Broking firm to force down the Price of AP shares when Otedola and him were battling for ther Shares of Texaco which is now MRS
if that is how you want Nigeria to be run where only OBJ and the people he annoints to run the economy become succesful then it is just too bad and a pity .

the same Monopoly is what every other Government all over the world (in Germany,Canada, Britain , US Microsoft had to pay out millions of Dollar for anti competition fines) is fighting to uproot is what your type want encourage in Nigeria