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Nairaland Forum / Nairaland / General / Politics / Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? (17883 Views)
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Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by StepTwo: 10:38pm On Feb 28, 2021 |
Rockyheight: Dangote is a business man, teaching us all how to do business, taking advantage of politics and your government to your favor. All the blame should go to the government that enables this kind of environment that favors only a few to the detriment of millions. 4 Likes |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by Proton99: 10:39pm On Feb 28, 2021 |
Beautifully written article. The contents are true. 2 Likes |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by winterfell007(m): 10:39pm On Feb 28, 2021 |
dahmie2013: Government doesn't necessarily have to manage business. They need to regulate this fraudsters that call themselves business from cheating the people with their phony investments 2 Likes |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by Proton99: 10:41pm On Feb 28, 2021 |
dahmie2013: Who is the government and who are the entrepreneurs? 1 Like |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by CheedyJ(m): 10:41pm On Feb 28, 2021 |
StepTwo: 1 Like |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by tutudesz: 10:42pm On Feb 28, 2021 |
Moneyboyz:OBJ was the one who gave Dangote cement Monopoly and not Buhari 3 Likes |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by COMPAQ(m): 10:43pm On Feb 28, 2021 |
kirajustice: Benefits to the economy goes beyond the price of the final product. There are jobs created - direct and indirect, economic activity created, technollogy transfered, taxes paid etc Also there are many factors that contribute to the factors of production and ultimately cost of a product. Nigerias inefficient economy doesn't help. There was a report recently that it costs $1000 to transport a container from China to Lagos, but to deliver same container from Apapa port to Ikeja ,transporters were charging N150k due to difficulty to move at the ports. Agreed that the policies could be implemented better and it seems like the same names come up - Dangote,BUA etc, but they seem to be the only ones willing to take the risk and there are also benefits to the economy as I explained above. Most Nigerian rich men like easier money. They prefer trading to manufacturing. Import for N50k, sell for N100k and no value added. I can't take the risk they do, doing such huge business in Nigeria where everything is working against you, so if they also make huge profits for their risk, why should I complain. 6 Likes 3 Shares |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by tiredoflife(m): 10:43pm On Feb 28, 2021 |
Kubernetes: Surely there is always that foolish fool |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by COMPAQ(m): 10:49pm On Feb 28, 2021 |
tiredoflife: Why must you insult. Must everyone have the same opinion as you. 1 Like 1 Share |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by Plusstreet(m): 10:53pm On Feb 28, 2021 |
No matter the pretence, a time comes when greed takes over that little attention is given to pretence. It is now clear how brutal these men are. Higher profit by whatever foul mean is what they are after while ordinary Nigerian think they have their interest at heart. Who will save us? Do we have Government? or representatives that are different? Lets leave it for the only one we have, Elohim. |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by lexy2014: 10:55pm On Feb 28, 2021 |
Draslo: We can d truth in ur pix |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by Draslo(m): 10:57pm On Feb 28, 2021 |
SimplyFacts: Upon all their sugar St. Louis that is imported still full market yafun yafun |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by Realdeals(m): 10:58pm On Feb 28, 2021 |
All these are happening because we have citizens with entitlement mentality. Everything must be provided for them. * Jobs * Food * Shelter * Clothing Just mentioned it, the government and others owes them, even when they does nothing. 1 Like |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by lexy2014: 10:59pm On Feb 28, 2021 |
COMPAQ: So u mean Ibeto wasn't willing to take d risk? Is "everything working against" dangote and co mentioned in d story? Taxes paid? Are u aware that dangote barely pays taxes as a result of being a beneficiary of some of d policies mentioned in d article? What exactly are d benefits to d economy that u are touting? 6 Likes |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by OnlyDeCapPlease(m): 11:01pm On Feb 28, 2021 |
SyrusdeHansome: Haven't you noticed that the richest men in the world are people that came up with innovative ways of doing things. Look at Amazon, Tessla and Microsoft. They did not come into an existing market, stifle the opposition and become a monopoly. There's only so far you can go doing that. Having said that I must say that I don't blame anyone for doing that. Even Americans and Europeans will do the same (and have done so in the past) if given the opportunity. Its the job of government, regulators and law makers to checkmate such activities. 1 Like |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by lexy2014: 11:01pm On Feb 28, 2021 |
Realdeals: Who do u want to correct ur grammar for u? What has "entitlement mentality" got to do with d article? |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by COMPAQ(m): 11:02pm On Feb 28, 2021 |
South Korean economy is dominated by Samsung, Hyundai/Kia. Those companies control almost 60% of Korean economy. It has its pros, but also its cons. Wouldni like our economy to more diversified away from Dangote and BuA? Yes I would, but other people have to come forward. It won't happen if all the rich men just sit in Banana Island in their mansions. I keep saying Nigerians like easy business. Banking and Oil and Gas where little technical skill is required. Have you spoken to some bank marketers? Totally daft. Can't even tell a good story of why you should bring your money to their bank. Thats why they send sexy women most times. Elumelu recently bought an oil block from Shell. Why hasn't he done something more intellectually demanding like a refinery or petrochemical complex. Cos drilling and selling oil, while it also has its own technical demands, is relatively easy money. 7 Likes 1 Share |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by brandsoncharlie: 11:04pm On Feb 28, 2021 |
tobechi74:Corrupt thieve. Oloshi Only in Nigeria, go and do what dangote is doing in Europe, USA and other sane countries in Asia, or other sane countries in Africa and see if you will live to tell the story. You are rich from stealing from others and you think it is wealth. Ole |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by COMPAQ(m): 11:04pm On Feb 28, 2021 |
OnlyDeCapPlease: Amazon and Microsoft are constantly being looked at as monopolies. Did you not see the Senate hearings a few months ago when Amazon, Apple, Google, Facebook and Microsoft were grilled by US senate for like 2 days over anti competitive and monopolistic practices?? 4 Likes |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by brandsoncharlie: 11:07pm On Feb 28, 2021 |
COMPAQ:Don't mind thieves in Nigeria, in other sane countries any bad practices are grilled and checked but in Nigeria people steal anyhow and call it riches. 1 Like |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by COMPAQ(m): 11:09pm On Feb 28, 2021 |
lexy2014: Dangote barely pays corporate tax agreed. Neither does Trump or most Billionaires abroad. However Dangote pays other indirect taxes. Staff he employs pay PAYEE. Jobs are created in ancillary support businesses that support his main business. Contractors etc And those ones will pay tax. Dangote refinery alone is changing the real estate landscape of Lekki axis and making land owners in that axis millionaires. Those in the surrounding villages of Dangote refinery would otherwise have gone to the grave with their valueless land. Benefits abound via multiier effects to the economy, but we are all fixated on Dangote himself. 2 Likes |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by Patrioticman007(m): 11:16pm On Feb 28, 2021 |
tutudesz: These olodo's won't read had Dangote been an Igbo Guy, they won't have let us hear word. What of the monopolistic acts of Igbo's in drugs dealing, fake vehicle spare part & imitations ?, Let's call spade a spade millions of Nigerians are killed because some unscrupulous elements choose to sell & import fake drugs in to the country, the people are from one particular tribe. The Northerners sells fresh farm produce & meat to them, while they send tramadol, codiene, hard & fake drugs up North as thank you. They think all these nairaland noise matters up stairs, better hustle legit so that emeka won't sell fake malaria drug to your family member, as Igbo made. 2 Likes |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by OnlyDeCapPlease(m): 11:19pm On Feb 28, 2021 |
COMPAQ:They might look at them as monopolies, but that has only happened because they have become so big and successful that they are almost impossible to compete with. What they did not do is get 100% govt backing to start their companies and then proceed to push govt to give their companies unfair advantage in order to stifle the opposition. 1 Like |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by kayjay69(m): 11:19pm On Feb 28, 2021 |
If it is document, we have enough of that already. What we lack is the backbone from regulatory bodies and those in government. Unfortunately these people have been bought and paid for hence I do not honestly see things getting any better any time soon. I was having this same conversation with someone here on nairaland who insisted that dangote's refinery would help Nigeria's economy and its ailing currency. Last I checked, dangote was a capitalist to the core. He is in business to help himself and himself alone as evidenced by how he runs his business empire. Based on precedence, nothing indicates he will become an overnight socialist and a patriot that wishes to help the country as much as himself. Men like dangote exist to help themselves the country be damned. A man who is rumoured to have single handedly wrecked the former Nigerian Railway Corporation can never be seen as to have good intentions for Nigeria as a country. festacman: |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by lexy2014: 11:20pm On Feb 28, 2021 |
COMPAQ: We aren't talking of abroad or Donald Trump. U claimed payment of taxes is one of d benefits of this policy that favours just a few in Nigeria. Now we see that it has no benefit in taxes as u so put it. Dangote doesn't pay indirect taxes. Dangote uses mostly foreign contractors especially Indians to do his jobs. So leave that side. Was it dangote refinery that changed d landscape of lekki, eko Atlantic and vgc? How did u arrive at that conclusion? Before dangote, there was free trade zone. So it's not dangote that changed d landscape of ibeju-lekki. This is vague: "Benefits abound via multiier effects to the economy...". My question was asking for specifics: "What exactly are d benefits to d economy that u are touting?" 2 Likes |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by charli5(m): 11:22pm On Feb 28, 2021 |
lexy2014: You guys just come to platform with no knowledge. Who told u dangote doesn’t pay tax? Is government stopping anyone from building refinery, owning a sugar or cement factory? Are people not still importing cement? We all just see the goodies. There are so many bad sides to top business men we don’t hear. They also make crazy losses. Dangote flourmill for an example has been making loss for over 8 years. He just sold his flour mill last 2 years ago. Where is Dansa drink, dangote tomato paste etc... If you have your money go and invest no one is stopping you. You guys should get that fact right 4 Likes 1 Share |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by OnlyDeCapPlease(m): 11:24pm On Feb 28, 2021 |
COMPAQ: So you will sit there with a straight face and say that these companies are successful because they took risk? Are you not even curious to know why other rich men like Adenuga and Otedola are not going into cement and sugar manufacturing. Are they not risk takers? Don't they like more money too? 4 Likes |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by lexy2014: 11:26pm On Feb 28, 2021 |
charli5: In my post, I asked questions. Five of them in all. With all d knowledge u have, I don't see d answers to any of d questions in anything u just typed above. I don't see any facts that sheds light on any of d questions I asked |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by favor914: 11:27pm On Feb 28, 2021 |
Nettybrown:Godwin Emefiele is in the best position to answer that. 1 Like |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by OnlyDeCapPlease(m): 11:28pm On Feb 28, 2021 |
Patrioticman007: Maybe you can start you own thread on the above instead of pathetically trying to stoke up ethnic sentiments in order to derail this one. 1 Like |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by favor914: 11:29pm On Feb 28, 2021 |
lexy2014:What answer are you looking for? If you have a vision go and invest, or do you think those robber barons are doing business to make you & your Nigerian brethren rich? |
Re: Backward Integration In Sugar, Cement And Petroleum: Who Are The Beneficiaries? by chukiz(m): 11:30pm On Feb 28, 2021 |
Let's face reality, nigeria is a sinking ship, thanks to our stupid ass Government. I just pray nigeris does not end up like Venezuela... |
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