Tobbit:
Wait for the refinery. Let's see the open hand the legislators would give him

blaise26abj:
And he will do same with his refinery . This is why a whole country can’t have a fully functional
refinery and APC in its stark madness will be touting a private refinery as our saviour . Is Dangote richer than Nigeria ? No. the idea is help him monopolize the market by keeping the national refineries moribund

LMS1:
One Tribe Like That Will Hire Pickup Trucks And Troop To Zambia Just To Go And Buy The Cement At Cheaper Price And Resell Them Here In Nigeria For Profits.
Igbo Kwenu!!

Aconomist:
The size of the economy doesn't matter. Cement price is selling for between 1,500 and 1,900 in South Africa, which is a large economy like Nigeria.

Aconomist:
this is not capitalism, this is corruption. And Dangote sells cement at a higher profit margin than Apple sells iphones. This is not comparable.

Aconomist:
Dangote is selling cement at double the profit margin of a Ferrari (30 percent). Dangote cement is 60 percent.

Aconomist:
According to Rabiu of BUA Group, Nigeria's real cost of cement production is the lowest in the world. The high prices are because of price gouging and monopolistic behavior from Dangote.

LMS1:
One Tribe Like That Will Hire Pickup Trucks And Troop To Zambia Just To Go And Buy The Cement At Cheaper Price And Resell Them Here In Nigeria For Profits.
Igbo Kwenu!!

Aconomist:
Ibeto is a coward. He makes no noise or protest. Atleast Rabiu has the sense to stand up for himself in the media and the courts, Ibeto prefers to beg behind the scenes like a dumbass. Weak pitiful man.

Aconomist:
I don't live in Nigeria, but it is still my country. And I can't invest until this cement issue is resolved.

Aconomist:
The country is a complete zoo. At this point I would rather invest in Ghana or Kenya than Nigeria. Worthless country full of zombies and monkeys. Dangote is selling cement for double (and sometimes triple) the international prices and monkey dey suffa and smile.

Aconomist:
Dangote is selling cement for 55 Kwatcha (1150 naira) in Zambia. But in Nigeria, the same cement is going for 3,000 to 5,000 naira. Dangote is the biggest problem in Nigeria. I have never seen such a wicked excuse for a human being in my live. EndSARS is over. It's time to start END DANGOTE.

https://zambiareports.com/2021/03/31/78130/

Igboid:
Ibeto is an Igbo man. You are not Igbo, yet you have seen how everyone from other parts of Nigeria has attacked you on this thread and in your other progressive threads, thinking you were Igbo.
Imagine if you were Igbo.

BUA can afford to speak freely against Dangote and get away with it, Ibeto cannot without being labelled a hateful Biafra driven by hate for a Northerner progress.

So before you go on to blame Ibeto for keeping quiet, you would first have to walk in his shoes as an Igbo man in an Igbophobic charged country like Nigeria.
His best bet is to maintain his peace and make his profits.

Nigeria is a country that hates the truth. Any one who speaks truth to Nigeria is assumed to be a hateful Igbo until proven otherwise.

9jaRealist:


Ibeto had a BIGGER problem fighting his own Ibo kin in Ebonyi State...

Ibeto won the bid for Nkalagu Cement Company during the same privatization process that saw Dangote win BCC Gboko, BUA win Sokoto Cement and Okpella (Edo) Cement, Scandinavian producer Holcim (which later became part of LafargeHolcim) win Calabar Cement, etc.

All of the bid winners have taken control and rebuilt and expanded the privatized entities - except for Ibeto, because he spent over a DECADE battling the Ebonyi State government and the host community for operational control of Nkalagu Cement (apparently his own fellow Ibo folks would have preferred that the privatized entity be sold to ‘Oyibo’ investors). Supposedly, a resolution was finally reached in 2019 or thereabouts, but as far as one is aware, not much has happened in respect of actual operational development.

PS: Btw, Ibeto was the last (in fact, for a while, the ONLY) entity importing and bagging cement, without any actual manufacturing.
>

naijadrivablog:

You think say you de wise You

aminusodiq:
zombies are so mentally retarded that they never knw what typographical errors means

Igboid:
He wasn't fighting his Igbo kin.
He was been made to go through the right process before acquisition and not to exploit the people and government of Ebonyi state.
In ideal world, that's the right thing to do. Ibeto is in the business for personal profit. He doesn't share his profit with Ohanaeze Ndiigbo, so why exactly should he not be made to come clean before acquisition of Nkalagu?

I'm aware the Ibeto suffered lots of import ban under OBJ all aimed at helping Dangote maintain monopoly.

BTW, your post has no correlation whatsoever with the points I'm raising.

Let me highlight my points again:

OP was wondering why Ibeto has not made any public remark about Dangote monopoly like Rabiu of BUA had.

The answer to the question is right in this thread.
Many had attacked OP even before looking at the points he raised simply because they assumed he is Igbo.
Its only when he had repeatedly declared that he isn't Igbo that many started even looking at the points he is raising without first attacking him and labelling him an Igbo full of hate. And this has happened in many of his other posts where he was pushing for social and political changes.

The above would explain why BUA can easily speak on Dangote without getting attacked but Ibeto can't. Hence Ibeto silence that OP labelled as cowardice.

Igboid:
He wasn't fighting his Igbo kin.
He was been made to go through the right process before acquisition and not to exploit the people and government of Ebonyi state.
In ideal world, that's the right thing to do. Ibeto is in the business for personal profit. He doesn't share his profit with Ohanaeze Ndiigbo, so why exactly should he not be made to come clean before acquisition of Nkalagu?

I'm aware the Ibeto suffered lots of import ban under OBJ all aimed at helping Dangote maintain monopoly.

BTW, your post has no correlation whatsoever with the points I'm raising.

Let me highlight my points again:

OP was wondering why Ibeto has not made any public remark about Dangote monopoly like Rabiu of BUA had.

The answer to the question is right in this thread.
Many had attacked OP even before looking at the points he raised simply because they assumed he is Igbo.
Its only when he had repeatedly declared that he isn't Igbo that many started even looking at the points he is raising without first attacking him and labelling him an Igbo full of hate. And this has happened in many of his other posts where he was pushing for social and political changes.

The above would explain why BUA can easily speak on Dangote without getting attacked but Ibeto can't. Hence Ibeto silence that OP labelled as cowardice.

Aconomist:
Dangote has a EBITDA (this calculates profits before tax, interest, depreciation, etc.) margin of 60%,. He says it in his annual report. If he has an EBITDA margin of 60% and he is selling for 3,000 naira, his cost of production is only 1200 naira. Also, notice how much lower the EBITDA margin is in "Pan Africa" which is his operations outside Nigeria.

This just just open price gouging. And you monkeys are too dumb to see it.

Link: https://www.dangotecement.com/wp-content/uploads/reports/2020/FY2020/DangoteCement_FY2020_ResultsStatement.pdf go to page 4.

musicwriter:
It's very interesting you mentioned Benin republic for comparison.

Dangote is the single major reason that smuggling of rice and spaghetti from Benin republic into Nigeria became big business because he's excessively greedy. When he was importing rice and spaghetti from Benin republic, he used to sell in Nigeria up to 3 times higher than in Benin republic. Then smugglers would bring same commodities into Nigeria and sell cheaper than him!!. This's the major reason smuggling booms across Nigerian borders till today because he gave people other ideas.

Aconomist:
price war is not the solution. The solution is to liberalize the industry and allow more companies to get involved or allow imports

chamboy:
You still sound arrogance and primitive.

9jaRealist:


Tomayto, Tomahto...

However you want to polish that turd, point remains that his biggest problem was that the Ebonyi government and the community PHYSICALLY PREVENTED him from taking control of a company that he LAWFULLY acquired (following his acquisition of Eastern Bulkcem, the majority 60% shareholder of Nkalagu Cement). This caused Ibeto to remain the last and ONLY entity in the cement-bagging (rather than manufacturing) business in Nigeria, nearly resulting in the government shutting down Ibeto’s operations until he resolved the Nkalagu debacle and got foreign investment from Milost Global (the NYC-based PE firm) to modernize the Nkalagu plant.

Thus (as I previously stated) his BIGGEST problem was his fellow Ibo kindred in the Ebonyi State government and the Nkalagu Cement host community. It was NOT Obasanjo nor Dangote nor Rabiu.
>

9jaRealist:




The importers have returned...
Beginning to see your angst against Dangote. SMH
____________________

PS: Btw, price COMPETITION is one of the anchors of capitalism...
The other system, where the government sets price and quotas, has FAILED WOEFULLY!!
>

9jaRealist:



Didn’t the NNPC just signed a contract YESTERDAY (Tuesday) to retrofit and rehabilitate the PH refinery?
As well as announce that the Warri and Kaduna refineries will undergo a similar process starting later this year.

Isn’t BUA Group building a big refinery in Akwa Ibom State? Aren’t several smaller refineries operating (Waltersmith, Edo, Orient, etc)?
Weren’t there at least 28 licenses for private refineries issued (starting from OBJ administration) BEFORE Dangote got a license under Jonathan?

Nigerians are really STRANGE human beings...
Ready to worship and celebrate failures, but attack and denigrate success. No wonder Nigeria is a DESERVEDLY Third World s/hole! SMH
>

blaise26abj:
Dangote runs a monopolistic market thereby forcing the hands of other competitors .
Let me give you an example - you have cornered 60 percent of sachet water market in Lagos . All other producer of sachet water in lagos share the remaining 40 percent . Cost of producing a sachet is 6 naira . A fair Selling price is 10 naira . However since you have 60 percent of the market , you can afford to bring down your price to 7 naira or 6.5 naira and your competitors can’t survive on that margin . This makes you the major market price determinant . If you decide to sell at 15 naira ,the competition will most likely follow suit (they will make more money that way) .
But if the competitors decide to defy you , you can decide to sell at 6.5 naira and kill off their market share .

That is what Dangote is doing . I have a friend that works with larfarge and he said from their analysis , they can sell PROFITABLY at 1800 per bag but they can’t defy the market leader especially if he is inadvertently making you money . Dangote is the enemy of the people . He is also a huge campaign donor to all the major political parties . So no matter who wins , he gets to monopolize the market

Lucrativress:

When it comes to Nigeria's matter,there are some comparisons that are ironic
Who owns MTN,who is Dangote?
Just look at this refinery stuff,left to me,na Nigeria dey pay the entire money for that Refinery
Dangote is highly favored na,on a National level,MTN for where,no na..
Next time compare Dangote and Tinubu or another magnanimous economic Influencer,walahi na the real Influencers be this

blaise26abj:
How many times was turnaround maintenance done for Nigerian refineries ? Over 25 billion dollars spent in 25 years , yet none is working . And you think this will be different ?
Dangote , once he has the major market share of a product , becomes very monopolistic of that market . He is a capitalist that is able to pull that off because of bad leadership in the country .

Lastly , lack of questioning is why Nigeria is where it is . People rob and rape the country but STRANGE people like you would rather call it success and cover their corruption . No wonder Nigeria is a shithole 3rd world country.

Igboid:
Just call him Igbo already and get done with it. You know you want to.

winterfell007:


You are not smart. it's very obvious. the major reason why they can't cut their prices is because Dangote controls more than 60% of the market share. he determines the price. That's why he's regarded as a monopolist. Have you ever wondered why Dangote exited from the noodles market, the flour market, water business and the juice business? the answer is simple. they were other serious players in each of the aforementioned business.
Dangote likes to play in a business where he's clearly the market leader so that we can determine the price whenever he likes. This is a huge economic malpractices.
I guess you wouldn't understand this, you aren't that smart afterall