hybeenoni:
So surprised hw sm Nigerians easily fall 4 quick political gimmick. Hv u guys bothered asking urselves y this sudden reduction of cement prices few months to elections? Sudden agreement to ceasefire by bokoharams?
R prices nt supposed to be determined by forces of demand and supply? Is it a mere coincidence dt Dangote and BUA suddenly realised the need to reduce cement prices to d same amount?
I'm rilli surprised @ hw sm Nigerians r so easy to be deceived!

Boko Haram on rampage in Gombe, attacks police station
November 4, 2014

From: https://www.premiumtimesng.com/news/top-news/170570-boko-haram-on-rampage-in-gombe-attacks-police-station.html

Boko Haram Attacks Kogi Prison, Frees All lnmates
03 Nov 2014

From: http://www.thisdaylive.com/articles/boko-haram-attacks-kogi-prison-frees-all-lnmates/193105/

hayoakins:
Chairman of BUA Group, Alhaji Abdulsamad Rabiu, has thrown his weight behind Dangote Cement Plc’s reduction in the cost of cement from about N1,700 to N1,000 a bag, representing a 40 per cent price cut, which was announced at the weekend.

According to Rabiu, he has always advocated a reduction in the cost of cement so that more Nigerians can have access to the product and realise their dream of owning houses of their own.

“It is against this background that I commend Alhaji Aliko Dangote for this patriotic initiative which is long overdue,” he said.

He further revealed that he had an extensive telephone conversation with Dangote on the issue and encouraged him on the initiative.

“What Alhaji Dangote has done today is significant. I am very pleased about it because it would make the cost of the product more easily affordable to Nigerians. With this price reduction, more consumers will be able to buy the product and subsequently drive up demand and in turn increase market share for industry players.

“I hereby urge all cement producers to emulate Dangote and bring down the cost of cement. There is absolutely no reason for a bag of cement to cost so much.

“Despite the infrastructure challenges being faced by the manufacturing sector of the Nigerian economy, it does not justify the high cost of cement.

“On our part, I have already directed all our plants to follow suit and implement the new price regime. We still believe that more can be done to bring down the price even further for the benefit of Nigerians,” Rabiu stated.

The BUA Group chairman stressed that there was really no reason for the price of cement to exceed N1,000 per bag, bearing in mind the massive success of the backward integration policy implemented 12 years ago, in which tens of billions of dollars were directly and indirectly injected into the Nigerian cement industry with Dangote Cement accounting for the larger share of the contribution.

This has seen cement national productivity rising from a mere 2.2 million metric tonnes per annum (mtpa) to over 30 million mtpa in the last 10 years, Rabiu observed.

BUA Group acquired Edo Cement Company Limited three years ago and has spent over $500 million in putting up an ultra-modern three million mtpa production line which is billed to be commissioned in the first quarter of next year.

Upon completion of this plant, the total annual production capacity will rise from 500,000 mtpa to 3.5 million mtpa.

In addition, the company also has controlling equity in Sokoto Cement Company also known as Cement Company of Northern Nigeria Plc (CCNN). The plant is presently being expanded with a 1.5 million mtpa line. Work is currently in progress and will be commissioned early 2016.

http://www.thisdaylive.com/articles/bua-group-throws-its-weight-behind-cement-price-reduction-commends-dangote/193185/

Demdem:


I see no competition, instead what I see is a cartel.
Cement shouldn't be more than N500.

texazzpete:
All these people that expect plaudits for slashing the price of cement that they already artificially inflated to milk Nigerians dry and retard the progress of millions of Nigerians.

Nothing has changed between January this year and now to warrant such an abrupt price slash...while still maintaining profitability. It is now clear that these guys have been deliberately hood winking Nigerians for years.

Smh

Dangote’s Suit Against Ibeto Is Anti-competitive – FG.
Tuesday, July 10, 2012

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."

From: http://www.nigerianeye.com/2012/07/dangotes-suit-against-ibeto-is-anti.html

anonimi:


Person stop you from producing cement to sell at N500

Demdem:


U earlier referred to competition between the telecoms that invariably brought down the price? Can u compare that competition to this so called "competition" or cooperation as one can call it?
When did glo, mtn, econet sit down and jointly agrees on price the way these cement cartels are agreeing on price?]

ndcide:
the APC folks can go on twisting this one as they did in the other thread.


to some its not a good news. they know themselves.

100Cents:


Don't mind them they will come and sell it themselves..

It will take a minimum of one month before the new pricing takes effect.

For now, it is a newspaper price reduction..

blaqoracle:
you did not bother about those villagers that stocked bushmeat before the outbreak of ebola.why is that most nigerian youth always think linearly.for your information business venture is a risk. you either make profit or loss at the end of taking risk, and not the other way round. let me educate you,business is dynamic. if the delears are unwilling to sell at the new rate, the new players will sell at the new price which will ultimately drive the old dealers away from the market. mind you the shelf life of a bag of cement is usually less than six month.

hayoakins:
Inflation is man-made, now that the competition is hitting up, the manufacturer with the best marketing strategy and perhaps the cost leader may take the lead

asudan:

That's not true ,remember we have cost push inflation cause as a result of cost of production e.g increment in wages and salaries, transportation cost,maintenance of plant and machineries e.t.c

anonimi:


So YOUR problem, well defined, is that you THINK that these cement "cartels" must have "sat down" to reduce prices.
Does that sound REASONABLE even to yourself

And how did you know that Glo, MTN, Econet did not sit down to "jointly agree" on reducing price? Okay, I get it, since they did not invite you to witness their sitting down to decide their prices (the way Dangote & BUA invited you this time around) then it did not happen
What a genius you are

anonimi:


So YOUR problem, well defined, is that you THINK that these cement "cartels" must have "sat down" to reduce prices.
Does that sound REASONABLE even to yourself

And how did you know that Glo, MTN, Econet did not sit down to "jointly agree" on reducing price? Okay, I get it, since they did not invite you to witness their sitting down to decide their prices (the way Dangote & BUA invited you this time around) then it did not happen
What a genius you are

leofab:
did you read the topic before quoting someone and acting smart? Didn't you see where he claimed that he phones Dangote?

texazzpete:


Why are you so m0r0nic? Must everything in life be about APC and PDP? This affects millions of Nigerians.

Demdem:


U talk like a kid born just yesterday. Ask ur elders, they will tell you what transpired. We knew what mtn was selling it's stuff before glo came into the picture. Infact mtn told us per second billing was impossible till glo made it happen which led mtn to urgently bring down its price.
With such a scenario, how could they have agreed when every one was working in securing the huge consumer base. It's stuppid to think they sat together to decide such. Price falling was on a weekly basis with different promos geared towards attracting consumers.
On the contrary, based on the opening post, it's obvious these cement cartels are talking to each other as regards prices of cement.
We also have fuel cartels before the subsidy debacle where these criminals do as they deem fit for their benefits to the detriment of the masses.
Again, ask ur elders about the telecoms competition, u surely don't know anything about it.

hayoakins:
Chairman of BUA Group, Alhaji Abdulsamad Rabiu, has thrown his weight behind Dangote Cement Plc’s reduction in the cost of cement from about N1,700 to N1,000 a bag, representing a 40 per cent price cut, which was announced at the weekend.

According to Rabiu, he has always advocated a reduction in the cost of cement so that more Nigerians can have access to the product and realise their dream of owning houses of their own.

“It is against this background that I commend Alhaji Aliko Dangote for this patriotic initiative which is long overdue,” he said.

He further revealed that he had an extensive telephone conversation with Dangote on the issue and encouraged him on the initiative.

“What Alhaji Dangote has done today is significant. I am very pleased about it because it would make the cost of the product more easily affordable to Nigerians. With this price reduction, more consumers will be able to buy the product and subsequently drive up demand and in turn increase market share for industry players.

“I hereby urge all cement producers to emulate Dangote and bring down the cost of cement. There is absolutely no reason for a bag of cement to cost so much.

“Despite the infrastructure challenges being faced by the manufacturing sector of the Nigerian economy, it does not justify the high cost of cement.

“On our part, I have already directed all our plants to follow suit and implement the new price regime. We still believe that more can be done to bring down the price even further for the benefit of Nigerians,” Rabiu stated.

The BUA Group chairman stressed that there was really no reason for the price of cement to exceed N1,000 per bag, bearing in mind the massive success of the backward integration policy implemented 12 years ago, in which tens of billions of dollars were directly and indirectly injected into the Nigerian cement industry with Dangote Cement accounting for the larger share of the contribution.

This has seen cement national productivity rising from a mere 2.2 million metric tonnes per annum (mtpa) to over 30 million mtpa in the last 10 years, Rabiu observed.

BUA Group acquired Edo Cement Company Limited three years ago and has spent over $500 million in putting up an ultra-modern three million mtpa production line which is billed to be commissioned in the first quarter of next year.

Upon completion of this plant, the total annual production capacity will rise from 500,000 mtpa to 3.5 million mtpa.

In addition, the company also has controlling equity in Sokoto Cement Company also known as Cement Company of Northern Nigeria Plc (CCNN). The plant is presently being expanded with a 1.5 million mtpa line. Work is currently in progress and will be commissioned early 2016.

http://www.thisdaylive.com/articles/bua-group-throws-its-weight-behind-cement-price-reduction-commends-dangote/193185/

leofab:
did you read the topic before quoting someone and acting smart? Didn't you see where he claimed that he phones Dangote?

anonimi:


And for your mind Glo, MTN, Econet management were NOT talking to each other when Glo entered the market and started the price war that ultimately benefited consumers
In fact when they meet at social and industry events they carefully avoid each other to avoid any discussion on their respective companies
An real wa for ways oh!

Youngzedd:
GEJ till 2019


Jona don settle this man too against next year.

Buhari I just dey laugh you and your borrowed money for presidential ticket.


Jona is the master planner.

If you want to build house, this is the season because after election, it's another story.