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Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year (9276 Views)

BUA Reduces The Price Of Cement To ₦3,500 Per Bag, Promises Further Reduction / BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion / JAIZ Bank Posts N2.4bn Profit After Tax For 2019 Financial Year (2) (3) (4)

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Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by omoadeleye(m): 7:00am On Mar 24, 2021
Ern. They made more than that cause that's just probably 30% from their profit
Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by somehow: 7:00am On Mar 24, 2021
4tomandchi:
That is the result of the monopoly he is enjoying so he should pay gladly.

I can't imagine a country of 400,0000,000 (million) people allowing one man to enjoy this kind of monopoly, you can't find this anywhere in the world.

What is stopping you from challenging him?

3 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by effty(m): 7:03am On Mar 24, 2021
Ooe33:
Monopoly in the cement industry? Have u heard of BUA and Ashaka, Do u knkw that BUA spreading money everywhere isn't just for notice me? They Are making/earning serious profit in the cement industry. Go and check their figures.
Broda hustle make u start see and take opportunities, not come and complain here in niaraland


You do not understand the meaning of monopoly. Go and rest.
Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by HacheNoire: 7:05am On Mar 24, 2021
effty:
You do not understand the meaning of monopoly. Go and rest.

Share with us the meaning of monopoly from your understanding.

4 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Ooe33: 7:07am On Mar 24, 2021
Ooga o. So Monopoly has another meaning?
It seams u are the one that doesn't know the meaning of monopoly. Check it dictionary to elucidate ursef.

effty:
You do not understand the meaning of monopoly. Go and rest.

1 Like

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by TheVictorious(m): 7:09am On Mar 24, 2021
HacheNoire:


Educate yourself!

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by HacheNoire: 7:14am On Mar 24, 2021
TheVictorious:


NO SIR. YOU SHOULD EDUCATE YOURSELF BEFORE SEEKING TO EDUCATE OTHERS.

A typical "price maker" and "entry barrier" monopoly plays out here!

How is Dangote a price maker? Has he hindered his competitors in anyway from crashing price?

And what entry barrier does he monopolize?

4 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Lekison(m): 7:18am On Mar 24, 2021
HacheNoire:


How is Dangote a price maker? Has he hindered his competitors in anyway from crashing price?

And what entry barrier does he monopolize?
you dey mind those morons.

3 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by HacheNoire: 7:20am On Mar 24, 2021
Lekison:
you dey mind for morons.

The illiteracy stinks

Even in the face of hard facts, they still have the effrontery to make arguments

They be screaming monopoly but cant point out one. Stories and epistle to digress from the fact you will find.

Very soon, they will tell you MTN enjoys monopoly for being the biggest player.

4 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by adesoro80595: 7:25am On Mar 24, 2021
That money is chicken change compared to what he earns annually
Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Nobody: 7:26am On Mar 24, 2021
Most of those commenting on monopoly have made their parents wasted their money for their school fees. Hatred shouldn't bring someone so low to just accept anything illiterates analysts say on media.
We have BUA, Lafarge, Sokoto, Ashaka cement. BUA is matching toward Dangote cement's production capacity, Lafarge, Sokoto and Ashaka cement were there before Dangote but still ignorant people are calling it monopoly.
If someone outside their group succeed they question his success while if their own succeed they jubilate despite being obvious that some of them have questionable history of illegitimate businesses.
Now BUA is the third richest Nigerian with fast growing economy than both Dangote and Adenuga, mark my word those haters will still come and blackmail him in the next few years.
One individual is giving a tax from only cement company that ur state can't present but u're still saying shit, why can't u feel blessed with the job he even created?

7 Likes 1 Share

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by effty(m): 7:29am On Mar 24, 2021
Ooe33:
Ooga o. So Monopoly has another meaning?
It seams u are the one that doesn't know the meaning of monopoly. Check it dictionary to elucidate ursef.

HacheNoire:


Share with us the meaning of monopoly from your understanding.
Sure you both have a friend who studied Economics in school. Go and meet him for a free lecture on monopoly and predatory pricing.
Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by HacheNoire: 7:34am On Mar 24, 2021
effty:
Sure you both have a friend who studied Economics in school. Go and meet him for a free lecture on monopoly and predatory pricing.

Now you have introduced predatory pricing which is almost a norm in any competitive market.

Lets focus on the subject of discussion. "MONOPOLY"

How does Dangote benefit from Monopoly?

2 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by kripen(m): 7:36am On Mar 24, 2021
Starzdavid247:
No wonder price of cement keep skyrocketing. Taxing the poor at the expense of the elites class.

True talk, just the singular reason the price went top notch.
Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by OgogoroFreak(m): 7:56am On Mar 24, 2021
After dupping Nigerians
Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Peterobi90: 7:58am On Mar 24, 2021
HacheNoire:


What monopoly are you talking about please!

Do you know the meaning of "Monopoly"? Please define if you do!

Take note of the word monopoly in the attached.

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Jorge91: 8:08am On Mar 24, 2021
Cromartie:

https://brandnewsday.com/2021/03/23/dangote-cement-to-pay-over-n97bn-in-corporate-tax-for-financial-year-2020/
as dangote cement is to pay this tax, other cement companies could be paying this also more revenues will be generated, but we can’t find other cement companies only dangote, which is quite expensive being the only man in the game.
Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Cutehector(m): 8:23am On Mar 24, 2021
This one pass some banks profit after tax

1 Like

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by HacheNoire: 8:36am On Mar 24, 2021
Peterobi90:


Take note of the word monopoly in the attached.

And what is the policy restricting people! This is just an individuals perspective.

With about 5 cement manufacturers in the country, you still talking about monopoly? He is the biggest player due to his massive investment. Don't accuse him of monopoly has its fiction. The rising prices of cement cuts across all brands, and yet people only accuse Dangote.

Why cant BUA, ASHAKA or IBETO reduce their prices to $1 per bag if they have the capacity.

This is a competitive play in business and its a norm. If you want to crash prices, venture into the market.

3 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Reference(m): 8:50am On Mar 24, 2021
easyfem:
this man is one of the problem of nigeria .... though i dont blame him but i blame the system ....... the name called nigeria mean NIGGER ..... no wonder ..... my ODUDUWA pple are u with me ? please i need fadaka to buy bitcoin

How is an industrialist the problem of Nigeria.
Sometimes I just wonder exactly how poor thoughts can sustain a progressive society.

Is it government that you want to handle the cement industry. An industry they could not handle properly since independence until they capitulated in the late 80's...

Some say he is a monopolist....in what I may ask. Is there any business he runs where he is the sole player
Every business he runs has competition. Cement has the Lafarge Group (a multinational player) with some of its subsidiaries starting out way bhefore Damgote, and BUA Group. Are their prices substantially cheaper than Dabgote Cement?

They say he will have a monopoly on the fertizer plant he launches soon forgetting Notore and other players who have been in business for years.
They say he will have a monopoly on refined petroleum products but he picked up a license same time as others. Should he wait for them to get serious and perform? Can Nigeria afford the wait?

No one talks of a monopoly in the telecom sector where there are only 4 players by law....just don't get what the recurring beef against Dangote is all about.

3 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by AMvanquish: 8:58am On Mar 24, 2021
HacheNoire:






No one has grown hating!

Yup.. Just pure hate and envy..
You ask them, did he break any law or stop you from eating. Bad belle everywhere.

2 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by OlujobaSamuel: 8:59am On Mar 24, 2021
How come there was such increase in tonnage sales and revenue for the year 2020?
Borders were shut for majority of last year, had lockdown that restricted movement till after sometime that it was lifted for construction works to be carried out, endsars protest also affected delivery of goods, then we have the dilapidated roads that has drastically reduced turnaround time for trucks.
Something is wrong with this book. Reminds me of when Oando declared huge loss after about 2yrs of issuing a public offer.
Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Blackdisciple(m): 9:04am On Mar 24, 2021
cement money go still high again
Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Reference(m): 9:09am On Mar 24, 2021
HacheNoire:


And what is the policy restricting people! This is just an individuals perspective.

With about 5 cement manufacturers in the country, you still talking about monopoly? He is the biggest player due to his massive investment. Don't accuse him of monopoly has its fiction. The rising prices of cement cuts across all brands, and yet people only accuse Dangote.

Why cant BUA, ASHAKA or IBETO reduce their prices to $1 per bag if they have the capacity.

This is a competitive play in business and its a norm. If you want to crash prices, venture into the market.

I just do not understand what all the noise they make is about.
There is no product on earth that does not have industry leaders.

The phone handset business is basically a duopoly between Samsung and Apple. No one complains.
The automobile industry has Toyota on top for three decades now with Hyundai displacing Volkswagen recently in second.
Entertainment has been dominated by Hollywood since the 50's.
CocaCola is the market leader globally and if you arrive an airport you either fly a Boeing or an Airbus with Bombardier in third. Who is complaining.

Only here in Nigeria government incentives to big industry and market leaders is vile. Say that to GE or General Motors or United Airlines that receive all manner of US government help in hard times to remain afloat and in the lead.

We need big players who are interested in industrialisation and have an eye to global dominance for this country to develop and be taken seriously in the comity of nations. This corner shop, rat race mentality will do us no good.

Burna boy just rose to global fame and it speaks for Nigeria in the entertainment industry. Who will question his dominance but when an industrialist does same folks begin to show poor, sentimental judgement.

5 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Reference(m): 9:12am On Mar 24, 2021
Cutehector:
This one pass some banks profit after tax

That is the way it should be. I am glad that those who "make" tangible goods are reaping the rewards for venture. Let us encourage the creation of a first world economy.

2 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by mabea: 9:26am On Mar 24, 2021
This is Why the government must ensure that Dangote doesn't fail as well as others too.
Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Goldeno(m): 9:27am On Mar 24, 2021
4tomandchi:
That is the result of the monopoly he is enjoying so he should pay gladly.

I can't imagine a country of 400,0000,000 (million) people allowing one man to enjoy this kind of monopoly, you can't find this anywhere in the world.
what do you expect when those that can compete with him are hiding there wealth, because
their wealth isn't clean, like politicians, so called self aclaimed billionaires and awó young rich dudes/entrepreneurs

2 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Ken4Christ: 9:31am On Mar 24, 2021
If only one firm pays this amount of tax, then the country must be generating lots of money through taxes that are undeclared when you consider there are tens of thousands of other companies that are generating so much revenue.

The Federal Inland Revenue should be audited.

2 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by HRMK: 9:45am On Mar 24, 2021
#97bn or #97m?how much is the tax paid by those flying 3/4private jets?i blv dangote deserves our respect as nigerians!
Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Tekrify(m): 10:49am On Mar 24, 2021
Some of you think like drunkards ...
Do u know Amazon have more Dan 60 percent of the E commerce sector in the US ..bezor us now taking over Walmart and Al the physical stores in the US and ofcourse with the biggest player..his services cost higher...try ordering from Amazon and see the shipping cost ...
It called business..
Dangote has monopoly only because no players want to come into Nigeria ...
And some of u poor folk talk about monopoly like u don't know the aim of any business man weather big or small...
If u are operating a business..u wil tell me u want to stay nice and allow ur competition rival u .. right?
winterfell007:
98 billion naira. This man represents everything that's against good economic models. He's the Rockefeller of Nigeria that the American government feared and broke down his monopolistic tendencies.
If Dangote was operating in Europe, Asia or America. He wouldn't dear do this nonsense he's doing in Nigeria over there. He would have been long arrested over there and his assets forfeited for economic malpractices

3 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Tekrify(m): 11:11am On Mar 24, 2021
One bottle of chilled gulder for u...
Some people are just very dull daft and mediocre...

Growth, expansion and more profit is the sole aim of every business..
The fact that small players ain't got the balls to do it doesn't mean someone who got it should relax for the sake of fairness...this is buiness not some sort of religious stuff..

There is no way I will be in a business and I will not want to rival my competitors by providing better quality and higher quantity especially when there is high demands..
Some dummies need to understand that there is no friendship in business...
BUA group is doing it best to become a major concern for dangote .Inshort they are the only company trying to rival dangote to be no. 1 with higher share...and if he they succeed..some idiot will screen monopoly for BUA too..
Coronabirus:
Most of those commenting on monopoly have https://twitter.com/DefenseNigeria/status/1374494332372144135?s=19 their parents wasted their money for their school fees. Hatred shouldn't bring someone so low to just accept anything illiterates analysts say on media.
We have BUA, Lafarge, Sokoto, Ashaka cement. BUA is matching toward Dangote cement's production capacity, Lafarge, Sokoto and Ashaka cement were there before Dangote but still ignorant people are calling it monopoly.
If someone outside their group succeed they question his success while if their own succeed they jubilate despite being obvious that some of them have questionable history of illegitimate businesses.
Now BUA is the third richest Nigerian with fast growing economy than both Dangote and Adenuga, mark my word those haters will still come and blackmail him in the next few years.
One individual is giving a tax from only cement company that ur state can't present but u're still saying shit, why can't u feel blessed with the job he even created?

3 Likes

Re: Dangote Cement To Pay Over ₦97 Billion In Corporate Tax For 2020 Financial Year by Nobody: 11:17am On Mar 24, 2021
It should be noted that the Laws of Most Countries Usually Favour the Rich.

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