Following the cost of building materials, especially cement, the Ovie of Idjerhe Kingdom, HRM King Obukohwo Monday Whiskey, Udurhie I, has urged President Bola Tinubu to reopen the shut Madewell Cement Factory located at Idjerhe by renewing its licence.

The journalist-turned-monarch, who made the call on Thursday while touring the facility with his chiefs, also urged Tinubu to restore the licences of all other cement producers to jumpstart an efficient economy.

“We are here for the project tour and inspection of the abandoned Madewell Portland Cement Factory here in Otorho Idjerhe.

“It is 15 years ago or let’s say 12 years ago, when this project was brought down by cabals in the cement industry.

“It had already created over 2000 direct jobs and over 10,000 indirect jobs in the Nigerian economy.

“As a king of this land, I see pain and I believe that with the coming in of Asiwaju Bola Ahmed Tinubu, a man who is business-oriented, a man who is economically viable, he knows the importance of the cement sector to the Nigerian economy.

“If we must make the development of shelter one of the basic requirements of human existence.

“And when this place was shut down, a lot of young men, a lot of artisans who were working here lost their jobs.


“I came here to plead with Mr. President to revisit or grant the re-issue of the six licenses that were issued at regional business.

“The Cement industry is too large for one man or one company to deal in, no individual can do this.

“As we speak of the 500,000 metric tonnes that was approved for Madewell Portland cement, only 50,000 metric tonnes of this came to Nigeria.

“It was disposed of in less than four or five months there’s still over 450,000 metric tonnes in China.

“As it is, I and the good people have agreed to plead with the Federal Government to revisit that injustice that was done to our great son, Prince David Iweta, MD/CEO Madewell Cement, that was done to a South-South son, that was done to a Nigeria who is business-oriented, who believes in the right way of doing things.

“Madewell, as an industry player, is being very patriotic. Some of them went to court. They collected a huge amount of money from the Federal Government.

“But he didn’t go to court because he believed that a day like this will come. And I believe that Mr. President as a listening President will listen to this very important cry and plea.

“The reopening of this factory will help to resolve the high demand for cement.

“As we speak, no two or three, or four companies can get enough cement to meet cement consumption for Nigerians.

“So the best decision the government took then was to ensure that there is a Portland Cement factory, one in each region that is outside the major players and the licenses that were issued to them were for them to first import cement.

“They were given clearance for 500,000 metric tonnes of import. By the time you are done with that, you would have made arrangements for your production.

“And that was what Prince David the waiter and his group were doing diligently as of the time this factory was shut down.

“They only had taken delivery of 50,000 metric tons of the product and what that translates to is that 450 million metric tons were still in China.

“And if you cannot bring in what you have borrowed money to bring to the country to sell, you can’t be talking about production.

“But an individual wrote a petition telling the government of Nigeria that they have no reason to import cement and that those who were importing should be stopped so that he remained the only authority in the cement industry in Nigeria.

“I think it is wicked. I think it is wrong, I think is an option that is not viable, the government ought to know that.”

Recall that late President Umaru Yar‘ Adua had issued six companies representing the six geopolitical zones, three licences each, to bring down the prices of cement but had their licences revoked when President Goodluck Jonathan came into power after the sudden death of his boss.
https://tribuneonlineng.com/reopen-madewell-cement-company-delta-monarch-urges-tinubu/

Will renew sghege hear, I prefer ibeto coming there too.

Honestl, for Nigeria economy to see the light, Nigeria must first break the yoke on the economy placed on it by the few privileged capitalists. These ones form oligarchy. They tighten the noose and will not allow any further admission of players into the market.

And of course, they do so by paying the regulators some penny.

Since everything has been deregulated, the borders too should be open or else, the suffering will still be here for some time.

The biggest lie being told against Dangote today is that he is monopolizing the cement industry. First of all, what is a monopoly? A monopoly is when one company is solely allowed to operate in a particular industry or market. Is that the case in Nigeria's cement industry? Let's take a look...

1) Dangote Cement: It is the biggest cement producer in Nigeria(probably why some people have mistaken it for a monoploy). The company has four cement plants namely
Obajana, Ibese, Gboko and Okpella.

2) Lafarge Cement: This is the second biggest cement producer. It is a French owned multinational conglomerate that invested in cement production in Nigeria with four factories located at Sagamu, Ewekoro, Ashaka(Gombe state) and Mfamosing near Calabar.

3) BUA cement : It is Nigeria's third largest producer with two factories in Sokoto and Edo states..


Note that these are manufacturers and not importers.

Nobody is stopping anyone from entering into cement manufacturing in Nigeria given the large deposits of limestone in the country. What is not allowed however is importation of cement which will destroy local manufacturing with cheaper imports from China. That's where Madewell and Ibeto fell short of the law and had to be shut down.

Nkalagu cement in Ebonyi state is lying idle waiting to be resuscitated by those who want to be a part of the market but they prefer to accuse Dangote of monopoly because he didn't allow them to destroy the existing thriving cement manufacturers with cheap imports from China. Nigerians must know the truth and learn to separate facts from fiction.

Efezik007:
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“But an individual wrote a petition telling the government of Nigeria that they have no reason to import cement and that those who were importing should be stopped so that he remained the only authority in the cement industry in Nigeria.

“I think it is wicked. I think it is wrong, I think is an option that is not viable, the government ought to know that.”

Recall that late President Umaru Yar‘ Adua had issued six companies representing the six geopolitical zones, three licences each, to bring down the prices of cement but had their licences revoked when President Goodluck Jonathan came into power after the sudden death of his boss.

https://tribuneonlineng.com/reopen-madewell-cement-company-delta-monarch-urges-tinubu/

Imagine the bolded was done by a yoruba man, IPOB won't let us rest

Cyberterror:
Madewell and Ibeto fell short of the law and had to be shut down.

Nkalagu cement in Ebonyi state is lying idle waiting to be resuscitated by those who want to be a part of the market but they prefer to accuse Dangote of monopoly because he didn't allow them to destroy the existing thriving cement manufacturers with cheap imports from China. Nigerians must know the truth and learn to separate facts from fiction.

The king claimed Madewell Cement Factory was not allowed to import it's full quota

Dangote and Obasanjo has got a lot to explain over early Dangote monopoly of cement industry.