Dangote will surely make big profit because he pay little or no attention to his staff welfare. Ordinary launch he cant provide for his staff not to talk of other benefits . Shior

deepsuk:
This company has paid average tax per year of less than 1% over the last 10 years.


See tax credits in 50 billions.

So the result is horrible

Lol...

You too hire smart accountants for your earnings management..

shakyum:
The Idiot called Akume that sold our Benue to cement to Dangote ehn. It will never be well with him. He will continue to be a loser..

Akume did NOT “sell” “your” BCC to Dangote Cement - because BCC was NOT owned by the Benue government.

Rather, BCC was a federal government entity and was thus privatized under the federal government’s privatization program launched by the military government of Gen Abdusalam Abubakar under Decree No. 28 of 1999, and seen to completion under the civilian Obasanjo administration. Under the same privatization program conducted by the World Bank-supported Bureau of Public Enterprises (BPE), Sokoto Cement Company was sold to the BUA Group, Bendel Cement Company was also sold to the BUA Group, Calabar Cement Company was sold to Holcim (partnering with Flour Mills), while Nkalagu Cement Company was sold to the Ibeto Group.

Furthermore, in stark contrast to your assertion, the Benue state government under George Akume actually obtusely and obdurately OPPOSED the sale of BCC majority shares to Dangote Cement pursuant to the latter’s winning bid under the BPE’s privatization process (which was btw supervised by the World Bank) - resorting to such primitive and primordial tribal sentiments that Dangote should have bid for CCNN (Cement Company of Northern Nigeria) instead and stating a preference for foreign (white) investors, when no sensible foreign investor was going to risk investing in such a backward climate characterized by a disdain for contracts and the rule of law.

Since the privatization, Dangote Cement has modernized the poorly-run and decaying Gboko plant, raising production from 400K/yearly at the time of privatization to the current 4 million tons/per annum - a TEN-FOLD INCREASE (creating more jobs for locals and benefiting the local economy in the process)! In addition, Dangote Cement supplies electricity power to the local community and Gboko town/environs through the cement plant’s modern captive power plant, has built and renovated schools and classrooms, as well as built and funds a community hospital. Nonetheless, pretty sure there are some Tribal Remnants still mad because Dangote is not an “indigene”. SMH

jesmond3945:
but look at the staggering figures almost 1 trillion from just one arm of a conglomerate

That’s a Dangote risk, not a national or sectoral risk.

There are many huge companies (such as LaFarge) with only one line of business, so conglomeration actually disperses some of the concentration risk. Furthermore, the Dangote Refinery, Fertilizer and Petrochemicals businesses will further dilute this particular risk.

Of course, apart from Dangote Cement being publicly-listed, there are several other publicly-listed Dangote Group companies (Dangote Flour, Dangote Sugar, NASCON Salt), which further dissipates concentration risks and market risks with the aggressive expansion across Africa.

skukimania:
Dangote is fast becoming a religion o. Nationality: Nigerian
Religion : Dangote

Make e kuku ma buy Nigeria make we share the proceeds. Chai

Several Dangote companies (including this one, Dangote Cement) are PUBLICLY-TRADED on the stock exchange, so if you want to “share” in the profits (as well as the risk), you can actually do so without leaving the comfort of the device you are spewing this verbiage from.

9jaRealist:


Akume did NOT “sell” “your” BCC to Dangote Cement - because BCC was NOT owned by the Benue government.

Rather, BCC was a federal government entity and was thus privatized under the federal government’s privatization program launched by the military government of Gen Abdusalam Abubakar under Decree No. 28 of 1999, and seen to completion under the civilian Obasanjo administration. Under the same privatization program conducted by the World Bank-supported Bureau of Public Enterprises (BPE), Sokoto Cement Company was sold to the BUA Group, Bendel Cement Company was also sold to the BUA Group, Calabar Cement Company was sold to Holcim (partnering with Flour Mills), while Nkalagu Cement Company was sold to the Ibeto Group.

Furthermore, in stark contrast to your assertion, the Benue state government under George Akume actually obtusely and obdurately OPPOSED to sale of BCC majority shares to Dangote Cement pursuant to the latter’s winning bid under the BPE’s privatization process (which was btw supervised by the World Bank) - resorting to such primitive and primordial tribal sentiments that Dangote should have bid for CCNN (Cement Company of Northern Nigeria) instead and stating a preference for foreign (white) investors, when no sensible foreign investor was going to risk such a backward climate displaying a disdain for contractual obligations and the rule of law.

Since the privatization, Dangote Cement has modernized the poorly-run and decaying Gboko plant, raising production from 400K/yearly at the time of privatization to the current 4 million tons/per annum - a TEN-FOLD INCREASE (creating more jobs for locals and benefiting the local economy in the process)! In addition, Dangote Cement supplies electricity power to the local community and Gboko town/environs through the cement plant’s modern captive power plant, has built and renovated schools and classrooms, as well as built and funds a community hospital. Nonetheless, pretty sure there are some Tribal Remnants still mad because Dangote is not an “indigene”. SMH

Thank you for educating those who don't read newspapers or listen to proper news, but only base their comments on nonsense social media posts, most of which are fake!!

deepsuk:
This company has paid average tax per year of less than 1% over the last 10 years.

See tax credits in 50 billions.

So the result is horrible

The result is “horrible” for who? The politicians who squander govt (including tax) revenues or shareholders/stakeholders?

Nonetheless, don’t just look at one side of the ledger (top-line revenues), because investment cost and costs of funds is extremely HIGH in Nigeria, which cuts into the bottom-line (profitability) and consequently taxes. Meanwhile, Dangote Cement has created TENS OF THOUSANDS OF NIGERIAN JOBS and livelihoods across the entire production value chain (from mining, unskilled and skilled labor, suppliers, subcontractors, managers, engineers, etc.), and has helped the seismic shift of Nigeria from one of the world’s biggest importers of cement (reportedly the world’s second-largest importers behind the US), with cement-ladened ship ‘armadas’ once clogging the Lagos ports, to an exporter of the product (among other benefits thereto), saving the Nigerian treasury BILLIONS in forex and earning forex for Nigeria as well).

9jaRealist:


He left for a while to run NEPA/PHCN under Obasanjo and as Special Adviser under Jonathan.

Wow! You are right!

9jaRealist:


Akume did NOT “sell” “your” BCC to Dangote Cement - because BCC was NOT owned by the Benue government.

Rather, BCC was a federal government entity and was thus privatized under the federal government’s privatization program launched by the military government of Gen Abdusalam Abubakar under Decree No. 28 of 1999, and seen to completion under the civilian Obasanjo administration. Under the same privatization program conducted by the World Bank-supported Bureau of Public Enterprises (BPE), Sokoto Cement Company was sold to the BUA Group, Bendel Cement Company was also sold to the BUA Group, Calabar Cement Company was sold to Holcim (partnering with Flour Mills), while Nkalagu Cement Company was sold to the Ibeto Group.

Furthermore, in stark contrast to your assertion, the Benue state government under George Akume actually obtusely and obdurately OPPOSED the sale of BCC majority shares to Dangote Cement pursuant to the latter’s winning bid under the BPE’s privatization process (which was btw supervised by the World Bank) - resorting to such primitive and primordial tribal sentiments that Dangote should have bid for CCNN (Cement Company of Northern Nigeria) instead and stating a preference for foreign (white) investors, when no sensible foreign investor was going to risk investing in such a backward climate characterized by a disdain for contracts and the rule of law.

Since the privatization, Dangote Cement has modernized the poorly-run and decaying Gboko plant, raising production from 400K/yearly at the time of privatization to the current 4 million tons/per annum - a TEN-FOLD INCREASE (creating more jobs for locals and benefiting the local economy in the process)! In addition, Dangote Cement supplies electricity power to the local community and Gboko town/environs through the cement plant’s modern captive power plant, has built and renovated schools and classrooms, as well as built and funds a community hospital. Nonetheless, pretty sure there are some Tribal Remnants still mad because Dangote is not an “indigene”. SMH

Nice info. I overheard some people saying that atiku also has a stake in BCC and thats why many Benue indigenes didn't vote for him based on the same issue of tribal sentiment. Does atiku really have stake in BCC?

The net profit is too much , that's 43% of revenue. It shows that cement is overpriced in Nigeria

deepsuk:
This company has paid average tax per year of less than 1% over the last 10 years.


See tax credits in 50 billions.

So the result is horrible

Interesting

9jaRealist:


Akume did NOT “sell” “your” BCC to Dangote Cement - because BCC was NOT owned by the Benue government.

Rather, BCC was a federal government entity and was thus privatized under the federal government’s privatization program launched by the military government of Gen Abdusalam Abubakar under Decree No. 28 of 1999, and seen to completion under the civilian Obasanjo administration. Under the same privatization program conducted by the World Bank-supported Bureau of Public Enterprises (BPE), Sokoto Cement Company was sold to the BUA Group, Bendel Cement Company was also sold to the BUA Group, Calabar Cement Company was sold to Holcim (partnering with Flour Mills), while Nkalagu Cement Company was sold to the Ibeto Group.

Furthermore, in stark contrast to your assertion, the Benue state government under George Akume actually obtusely and obdurately OPPOSED the sale of BCC majority shares to Dangote Cement pursuant to the latter’s winning bid under the BPE’s privatization process (which was btw supervised by the World Bank) - resorting to such primitive and primordial tribal sentiments that Dangote should have bid for CCNN (Cement Company of Northern Nigeria) instead and stating a preference for foreign (white) investors, when no sensible foreign investor was going to risk investing in such a backward climate characterized by a disdain for contracts and the rule of law.

Since the privatization, Dangote Cement has modernized the poorly-run and decaying Gboko plant, raising production from 400K/yearly at the time of privatization to the current 4 million tons/per annum - a TEN-FOLD INCREASE (creating more jobs for locals and benefiting the local economy in the process)! In addition, Dangote Cement supplies electricity power to the local community and Gboko town/environs through the cement plant’s modern captive power plant, has built and renovated schools and classrooms, as well as built and funds a community hospital. Nonetheless, pretty sure there are some Tribal Remnants still mad because Dangote is not an “indigene”. SMH

You have said it all

internationalman:
Why won't it when they block the production of every other cement industry..

how did they block it
Did they stop anyone from smuggling?
Did they stop them from building their own plant?
Talk with sense

What about profits?