sonnie10:
Good development. its long over due.

Check Alibaba, almost all the confirmed sellers have their cement for $60 ( 29,000 naira) per ton (20 of 50kg bag) . So a bag is about #1450 (naira). The difference is too much!

If the manufacturers do not want to comply, the senate should just lift ban on importation. After all, the tax from all the manufacturer is nothing compared with import duty. Even the employment opportunities they provide could be compensated through creation of more construction work as a result of reduced cement price.

Well summarized.

Nigerians are being scammed...

fidet1:
I hope they help the manufacturers cut cost of production also.

Yimmu.

UnabashedIPOB:


IDIOT, there are three major Cement manufacturers in the zoo, BUA, Dangote and Lafarge. Let me define monopoly for you in this context: What Is a Monopoly? A monopoly refers to when a company and its product offerings dominate a sector or industry. Monopolies can be considered an extreme result of free-market capitalism in that absent any restriction or restraints, a single company or group becomes large enough to own all or nearly all of the market (goods, supplies, commodities, infrastructure, and assets) for a particular type of product or service. Now, let me give you data to support that Dangote is a monopoly (https://nairametrics.com/2017/10/24/nigerias-3-largest-cement-companies-made-n207-billion-in-9-months-ended-september-2017/).

Nigeria’s 3 largest cement companies made a total profit of N207 billion as at the 3rd quarter of 2017. Of this sum. Dangote Cement was responsible for 93% of the industry’s entire profit. Dangote Cement which is Nigeria’s largest cement company by production volume made N193 billion in profits for the period ended September 2017, a 45% increase compared to N133 billion made the prior year. Lafarge Africa made N13.4 billion for the period ended September 2017, an improvement from the N40 billion loss made the corresponding period in the prior year. Sokoto Cement also known as (Cement Company of Northern Nigeria) had the biggest jump in profits. The company’s profit after tax jumped massively by 175% from N727 million in 2016 to N2 billion in 2017.

Dangote Cement’s revenues increased by 36.4% from N442 billion in 2016 to N603 billion in 2017. We are led to understand that Dangote Cement may have increased its cement prices rather than reduce it, as the company’s profits soared despite a drop in production and sales volumes. Dangote’s production volumes dropped by 10.69% from 17.6 million tonnes in 2016 to 15.9 million tonnes in 2017. Sales volumes also dropped by 11.8% from 18.5million tonnes in 2016 to 16.3 million tonnes in 2017. The company however attributed it to the drop in sales volume to the raining season, when construction typically slows.

Now, if you have enough brain cells left in your brain, now apply the above data that I just gave you to the monopoly definition and tell me if your FULANI brother is a monopoly or not.

You still trying to be brilliant.

Monopoly of what ?This is an interview question.

His investment is related to profit, so what are you saying?

Does Huawei or Toyota enjoy monopoly? Cos you trying to make it look like his market share is determining prices.

And his competitors, what monopoly are they enjoying? You still can't define the clear cut meaning of monopoly. If you do, you won't be arguing.

UnabashedIPOB:


Foolish man, is DANGOTE not playing monopoly? Judging by your writing, I am certain you have no clue what monopoly means and it's definitely not my responsibility to teach you.

Playing monopoly?

And other cement producers are playing what? Chess or snooker?

You are confused. Google could bail you out of this shame.

UnabashedIPOB:


You're too imbecilic to reason. I have more education than your whole family combined including your LovePeddler mama, your drunk dad, your little LovePeddler sister(s) and your STUPID ass! Now, how about that?

Comedy!

Mr educated that does not know what monopoly is.

Half baked graduate. Which university did you graduate from?

9jaRealist:


They were run into the ground by POOR government management....

Nonetheless, Ewekoro still exists. It is owned by Lafarge (used to be Blue Circle UK, before Lafarge acquired Blue Circle), which is the world’s BIGGEST AND MOST POWERFUL producer of cement. The irony was that despite the fact that Lafarge has been in Nigeria since the 1950s/60s (as well other major multinational cement producers like Holcim, Scancem, Heidelberg, etc.), before most of us were even born, it was until indigenous Nigerian producers like Dangote and BUA built world-class plants that Lafarge decided to rehabilitate and modernize its decrepit and polluting Ewekoro and Shagamu plants, and it was still bagging imported cement and producing/dumping low-quality 32.R-graded cement until Dangote and BUA came on the scene with locally-produced 42.R-grade cement (Dangote is the FIRST, and likely remains the ONLY producer, in Africa of 52.5R-grade cement, the highest quality globally).

Bendel Cement was acquired by BUA Group under the Obasanjo privatization program, and has since been retrofitted and modernized, and a brand new plant added, and is now producing about 6 million tons/year (more than 10x its production under government management and ownership). Sokoto Cement was also acquired by BUA Group under the privatization program, and repeated the same modernized production upgrade feature as it did in Edo State. Calabar Cement Co., which was moribund and not producing, was acquired by Flour Mills under the same privatization program, and together with Holcim built a state-of-the-art new plant in Cross River State, and again has geometrically increased production levels and capacity. Similarly, when BCC Gboko was acquired by Dangote Cement under the same Obasanjo privatization program, it was moribund and NOT producing any cement. After so much objection by rent-seeking Benue politicians, Dangote Cement turned around the plant, increasing its capacity TEN-FOLD from 400K tons/year to 4 million tons/year, built a power plant (which supplies electricity to the local community and LGA), roads, clinic and housing. Meanwhile, Ebonyi politicians also engaged in a long fight against Ibeto Group’s acquisition of Nkalagu Cement Co., until relatively recently, and since then the Ibeto Group has awarded contracts to Sinoma for a total rebuild and modernization of the Nkalagu plant (as well as a second new plant nearby).

The entry of indigenous Nigerian producers like BUA and Dangote has helped transform Nigeria from the world’s second-largest importer of cement (only second to the US) to an EXPORTER of cement, saving billions of dollars previously spent on importation, earning millions of dollars from exports, and CREATING TENS OF THOUSANDS OF JOBS IN NIGERIA FOR NIGERIANS! Only people who celebrate failure and denigrate success would want Nigeria to return to the old regime of poorly run government-owned cement companies, and massive imports. SMH
>

Thanks for the education!

Kids screaming monopoly in a competitive market

They will be accusing Toyota and MTN of enjoying monopoly soon

AllenSpencer:


You still trying to be brilliant.

Monopoly of what ?This is an interview question.

His investment is related to profit, so what are you saying?

Does Huawei or Toyota enjoy monopoly? Cos you trying to make it look like his market share is determining prices.

And his competitors, what monopoly are they enjoying? You still can't define the clear cut meaning of monopoly. If you do, you won't be arguing.

You're too dumb to reason. You hinged your definition solely on the simple minded definition of "monopoly" as a market structure characterized by a single seller, selling a unique product in the market. But unfortunately, you do not have enough sense to know that a group of companies can still play monopoly if they are dominant or controlling in that sector. Here once again is another definition of monopoly below: (https://dictionary.cambridge.org/us/dictionary/english/monopoly)

An organization or group that has complete control of something, especially an area of business, so that others have no share.

Mister man reason outside the freaking box. No wonder the ZOO is so messed up because clueless individuals like you with no reasoning ability are in charge of the zoo.

UnabashedIPOB:


You're too dumb to reason. You hinged your definition of "monopoly" solely on the dictionary definition but you do not have enough sense to know that a group of companies can still lay monopoly if the are dominant or controlling in that sector. Here once again is the Cambridge Dictionary definition of monopoly: (https://dictionary.cambridge.org/us/dictionary/english/monopoly)

An organization or group that has complete control of something, especially an area of business, so that others have no share.

Mister man reason outside the freaking box. No wonder the ZOO is so messed up because FULANI IDIOTS like you are in charge of the zoo.

And Dangote is the group and organization. Other cement producers are manufacturing cars right.

Let me allow you be. You will be okay.

AllenSpencer:


And Dangote is the group and organization. Other cement producers are manufacturing cars right.

Let me allow you be. You will be okay.

No, you're not allowing me be, your ignorance just got exposed and laid bare for all to see. That's why.

AllenSpencer:


You still trying to be brilliant.

Monopoly of what ?This is an interview question.

His investment is related to profit, so what are you saying?

Does Huawei or Toyota enjoy monopoly? Cos you trying to make it look like his market share is determining prices.

And his competitors, what monopoly are they enjoying? You still can't define the clear cut meaning of monopoly. If you do, you won't be arguing.

Monopoly of what ?This is an interview question.

His investment is related to profit, so what are you saying?

WOW! I am sorry I engaged you in a discussion that's above your intellectual comprehension. First off, you have no clue what monopoly means other than your simpleton understanding of it and secondly, you lack the ability to use a given data and apply it to an issue at hand. I apologize. I did not know your level of knowledge. You know, social media has made every IDIOT and numbskull an expert on issues that used to be only within the province of intellectuals.

God bless the Senator(s) that sponsored this bill, it shows there are still some of our leaders that have little public empathy and compassion. Dangote controls a whopping 65% of the cement industry in Nigeria, what a country. Mind you, if nothing is done about the oligopoly of the cement industry, no tangible result will be achieved.

CEMENT PRICES CANT AND WILL NEVER HALT ME FROM BUILDING MY DESIRED HOUSES COME WHAT!!! AM MORE THAN ENOUGH...

Useless government, they are saying it to favour themselves not the populis, A common Nigeria that doesn't have a good job or perfect business moving, how can they think of buying cement to build house.

Dammyseyon:
God bless the Senator(s) that sponsored this bill, it shows there are still some of our leaders that have little public empathy and compassion. Dangote controls a whopping 65% of the cement industry in Nigeria, what a country. Mind you, if nothing is done about the oligopoly of the cement industry, no tangible result will be achieved.

Come and learn UnabashedIPOB

Can you see how he hit the nail on the head briefly.

"Oligopoly "

And you are screaming monopoly upandan Nairaland

Mr. Educated

Your economics teacher should be killed if still alive.

MY RESOURCES ARE BEING MECHANDIZED AS A FOREIGNER, NO LIMITATION, NO LOSE, NO LACK, CAUSE AM AN AMBASSADOR IN WHEREVER I GO....

9jaRealist:
On the SUBSTANCE of the subject matter under discourse...
THERE IS NO SINGLE SECTOR IN NIGERIA WHERE DANGOTE HAS A MONOPOLY!

Dangote’s Competition

Cement: Lafarge (the world’s biggest producer, operating in Nigeria since the 1950s/60s); BUA Cement; Ibeto; etc.
Sugar: Flour Mills/Golden Sugar (in business since 1960); BUA; Josepdam; etc.
Petrochemicals: Indorama (one of the world’s biggest multinational producers); Warri Petrochemicals; Kaduna Petrochemicals; etc.
Fertilizer: Notore (with multinational investors such as the IFC and Orascom); Kaduna Superphosphate; etc.
Refineries: NNPC; Waltersmith; Orient; Edo; BUA; with more than 28 private refinery licenses issued since the OBJ administration.
Tomato Paste: GBFoods (the Spanish multinational operating in 50 countries), Erisco, and Tomato Jos, among others.

On cement, that is the subject matter of this thread, Dangote competes in Nigeria against the world’s BIGGEST AND MOST POWERFUL cement producer, LafargeHolcim. In fact, despite operations of the world’s biggest producers (including Blue Circle, Holcim, Heidelberg, Scancem, etc.) in Nigeria since the 1950/60s (ie, before many of us Nairalanders were even born and while Aliko Dangote was a toddler), Dangote Cement is the FIRST (and probably remains the ONLY) producer of 52.5R grade cement in Africa, which is the highest grade globally, and in the process has dragged foreign cement producers in Nigeria (Lafarge, Holcim and Blue Circle, etc.) to modernize their facilities and upgrade their products from the 32.5R grade they had been dumping on Nigerian consumers since the 1960s to 42.5R. Blue Circle (now part of LafargeHolcim) did not bother to rehabilitate or upgrade its decrepit and polluting 1960s-era Shagamu and Ewekoro plants, until Dangote built its world-class Obajana plant.

The entry of indigenous Nigerian producers like Dangote and BUA has helped transform Nigeria from the world’s second-largest importer of cement (only behind the US) to an exporter of cement, in the process saving Nigeria BILLIONS of dollars previously spent on importing cement, earning Nigeria millions of dollars in exports, and (most importantly) CREATING TENS OF THOUSANDS OF JOBS IN NIGERIA FOR NIGERIANS across the entire value chain, while generating wealth and livelihood for hundreds of thousands more NIGERIANS in ancillary, related and other industries and businesses, as well as tax revenues in corporate and income (from all those jobs created) taxes and charges for the Treasury to invest (to the extent not embezzled or misappropriated by politicians) in education, healthcare, public transportation, social security, public housing, infrastructure, etc.

Economic activity and the attendant CREATION OF JOBS is how best to help the poor citizens of any nation, NOT through charity. As reportedly the BIGGEST non-governmental employer of ordinary NIGERIANS (numbering in the tens of thousands in direct employment, and hundreds of thousands in indirect jobs and livelihoods), Dangote has more than done his bit to advance the fortunes of ORDINARY NIGERIANS (and according to a recent post here on Nairaland, just one of his companies paid N98 billion in taxes last year into the Nigerian Treasury - in a nation where most citizens outside of the civil service and PAYE system do not bother to pay their tax obligations - the very basic responsibility of citizenship). That is the real GOOD that folks like Dangote do for Nigeria. Any philanthropy is merely cherry on top!
>

Do you also know that any person that has more than 50% shares of a company owns that company? Dangote controlling a whopping 65% of Nigeria's cement industry clearly shows he literally controls the Nigeria cement industry with the inclusion of supply prices.

Yesterday 5 bag of cement cost me 20k.
I had to put de project on wait.


But one cant trust de senate. I wish is de house of rep with this motion.

They shud allow importation and see how de price drops.

Buhari is jus enriching his northern kinsmen with some kain policies. Eg cement, rice, tomatoes etc

AllenSpencer:


Come and learn UnabashedIPOB

Can you see how he hit the nail on the head briefly.

"Oligopoly "

And you are screaming monopoly upandan Nairaland

Mr. Educated

Your economics teacher should be killed if still alive.

On the contrary, the man may be making a point. According to shareholders' quoting, any sharedolder who owns 50% or more of a company is the owner of the company. If Dangote control over 60% of Nigeria's cement industry you can as well call him a monopolistic investor. My opinion though, I stand to be corrected

Dammyseyon:


On the contrary, the man may be making a point. According to shareholders' quoting, any sharedolder who owns 50% or more of a company is the owner of the company. If Dangote control over 60% of Nigeria's cement industry you can as well call him a monopolistic investor. My opinion though, I stand to be corrected

Monopolistic investor! Where you got that word from? If I get what you trying to imply, He is monopolizing investment with his own cash. Please, what are other multibillionaire's doing with there cash in Nigeria,

So Huawei is a monopolistic investor
Amazon
Toyota
Samsung
Apple

You mean we can call the owners of this industry leaders monopolistic investors cos they control largest market share by investing heavily into their trade?

Think you need to explain this monopolistic investor to me, cos every industry leader will fall into that class as a result of wanting to invest more and control even a larger market share.

This is just a norm in business across every industry

AllenSpencer:


Dangote seems to be your only problem and its all about your hate for Africa`s richest man.

Are other cements brands selling for One Hundred Naira?

Not hating him...
I mean paying subsidy for cement. All manufacturers will of course be paid. Bit he's the leader in that sector

Senate is in Dangote's pocket, forget story.

Officialhorlah:


https://thenationonlineng.net/senate-moves-to-cut-cement-prices/

. Cement is 3400 in Nigeria but in other African countries is 1500 However It is still Dangote cement .The Dangote cement comes out of the plant at the rate of 2000 why selling it at 3500 outside? .What we need is a corrective action now by investgatin the cause of this high price in Nigeria not a useless bill that will be undergoing 1 2 3 readings before it is passed in 2024.

dead on arrival.dangote won't allowed that to happen.he will rather pay bribe of two billion to silence you and your colleagues, and continue the price increase,till a bag of cement will be sold at 10000 naira.but meanwhile a bag of same dangote cement is sold at 1200 naira in Ghana

UnabashedIPOB:


IDIOT, there are three major Cement manufacturers in the zoo, BUA, Dangote and Lafarge. Let me define monopoly for you in this context: What Is a Monopoly? A monopoly refers to when a company and its product offerings dominate a sector or industry. Monopolies can be considered an extreme result of free-market capitalism in that absent any restriction or restraints, a single company or group becomes large enough to own all or nearly all of the market (goods, supplies, commodities, infrastructure, and assets) for a particular type of product or service. Now, let me give you data to support that Dangote is a monopoly (https://nairametrics.com/2017/10/24/nigerias-3-largest-cement-companies-made-n207-billion-in-9-months-ended-september-2017/).

Nigeria’s 3 largest cement companies made a total profit of N207 billion as at the 3rd quarter of 2017. Of this sum. Dangote Cement was responsible for 93% of the industry’s entire profit. Dangote Cement which is Nigeria’s largest cement company by production volume made N193 billion in profits for the period ended September 2017, a 45% increase compared to N133 billion made the prior year. Lafarge Africa made N13.4 billion for the period ended September 2017, an improvement from the N40 billion loss made the corresponding period in the prior year.

Dangote Cement’s revenues increased by 36.4% from N442 billion in 2016 to N603 billion in 2017. We are led to understand that Dangote Cement may have increased its cement prices rather than reduce it, as the company’s profits soared despite a drop in production and sales volumes.

Now, if you have enough brain cells left in your brain, now apply the above data that I just shared with you to the monopoly definition and tell me if your FULANI brother is a monopoly or not. Not only is he a monopoly, he's involved in price fixing.

Your error is in not properly differentiating MONOPOLY from MONOPOLISTIC TENDENCY or UNFAIR COMPETITION . Dangote cement is not a MONOPOLY

AllenSpencer:


Monopolistic investor! Where you got that word from? If I get what you trying to imply, He is monopolizing investment with his own cash. Please, what are other multibillionaire's doing with there cash in Nigeria,

So Huawei is a monopolistic investor
Amazon
Toyota
Samsung
Apple

You mean we can call the owners of this industry leaders monopolistic investors cos they control largest market share by investing heavily intotheir trade?

Think you need to explain this monopolistic investor to me, cos every industry leader will fall into that class as a result of wanting to invest more and control even a larger market share.

This is just a norm in business across every industry

Production/Importation of cement in Nigeria is only licenced to an anointed FEW. Dangote Cement is the patron saint of the industry.

ADAMUdaCOWBOY:

How is the cost of production of the manufacturers any of your business? Must your ilk complain about everything?

Cost of production drives the selling prices, are manufacturers not in business to make profit?

AllenSpencer:


Monopolistic investor! Where you got that word from? If I get what you trying to imply, He is monopolizing investment with his own cash. Please, what are other multibillionaire's doing with there cash in Nigeria,

So Huawei is a monopolistic investor
Amazon
Toyota
Samsung
Apple

You mean we can call the owners of this industry leaders monopolistic investors cos they control largest market share by investing heavily into their trade?

Think you need to explain this monopolistic investor to me, cos every industry leader will fall into that class as a result of wanting to invest more and control even a larger market share.

This is just a norm in business across every industry

Lol, I like to learn. How many percent market share does amazon control in the E-commerce industry? Less than 50 if you do your findings well. Samsung is topping the mobile technology industry with just 23% market share. I can't do all the research for you, you can help yourself to be informed. Why do you think facebook acquired WhatsApp, Instagram and even tried to acquire Tik-Tok? Read up on monopolistic competition. Thanks. I await your response

AllenSpencer:


Monopolistic investor! Where you got that word from? If I get what you trying to imply, He is monopolizing investment with his own cash. Please, what are other multibillionaire's doing with there cash in Nigeria,

So Huawei is a monopolistic investor
Amazon
Toyota
Samsung
Apple

You mean we can call the owners of this industry leaders monopolistic investors cos they control largest market share by investing heavily into their trade?

Think you need to explain this monopolistic investor to me, cos every industry leader will fall into that class as a result of wanting to invest more and control even a larger market share.

This is just a norm in business across every industry

Another thing is, according to market share quoting, if you control 50% or more of a business you are literally the owner of that business. Same applies to controlling 60% of building and construction material industry of a country! That's too much na. Dangote rakes in over 100B in PAT yearly compared to Lafarge's 7B so tell me who is ruling who? My opinion though, I might be wrong

AllenSpencer:


Hater!

Why you or an of your generations will ever rise to 0.1% of Dangote`s wealth.

The dude spends on security, your lots will die in their millions.

Come to think of it, Is that your illiteracy is this chronic. Is it only Dangot that manufactures cement in Nigeria? You see why you making it in life is impossible, cos you not even informed

aboki cow brain I am better than u
u will remain poor in ur entire life Amen.

Long over due, I pray the bill sees the light of day.

Dangote is biased. Why sell cement cheaper in other countries but expensive in his own country? Sometimes, I wonder if most northerners are really Nigerians or foreigners.

sonnie10:
Good development. its long over due.

Check Alibaba, almost all the confirmed sellers have their cement for $60 ( 29,000 naira) per ton (20 of 50kg bag) . So a bag is about #1450 (naira). The difference is too much!

If the manufacturers do not want to comply, the senate should just lift ban on importation. After all, the tax from all the manufacturer is nothing compared with import duty. Even the employment opportunities they provide could be compensated through creation of more construction work as a result of reduced cement price.

intelligent you