The FG is to be blamed for this.

Urheadmaster:
See this one like as if you de give anything for free. Oga go and park one side

dangote will not be serving less than 20 years imprisonment in America or other western nations,did you read where 3.6billion dollars was sold to dangote at rate of 360 naira while others are buying dollars at rate of 500naira ?keep supporting evil na you go suffer it,abundance of lime stone in nigeria yet cement is 6200 naira jeep praising them

That is it.

They tell you the economic indices are harsh but they are posting huge profits in Naira and Dollars. So where are all the gains and huge profits coming from. Where Our blood I suppose. Nigeria cement even in the dollar equivalent is amongstt the highest in the whole world. In Niger, Benin, cement goes for about N2500 to N3000 in the open market

Look at even Kerosene at about N1200/litre, it's among the highest 5 in the world and we are the sixth largest produce of crude. Even our immediate neighbors Togo, Benin Cameroon who also import Kerosene sell is average at about N750/litre

It's madness. What is really wrong with us

BadMaster:
Some of their foreign counterparts have more than 10 times their production capacity, yet make far less profit. This is an indicator that Cement is overpriced in this part of the world. Dangote, BUA and Lafarge Africa are clearly ripping us off.

We are in trouble in this country, and we don't have a responsible government to check these criminals.

Ever8090:
I use to respect this Dangote but of recent, I am beginning to suspect that niga is a quiet crook. The man is worst than Nigerian politicians,

He's a Nigerian.

InvertedHammer:
/
Most Nigerians love politics of identity and association.

To them, Dangote even though established as a shrewd businessman, still enjoys the support of Nigerians because they use him for a bragging right--"Africa's wealthiest man is a Nigerian". It is akin to those mofos who form Team Messi vs Team CR7 even though both players have no direct impact in their lives.

/

Baba say mofos....

BadMaster:
Some of their foreign counterparts have more than 10 times their production capacity, yet make far less profit. This is an indicator that Cement is overpriced in this part of the world. Dangote, BUA and Lafarge Africa are clearly ripping us off.

We are in trouble in this country, and we don't have a responsible government to check these criminals.

Bitter biaflan,
Go and establish your own cement companyj

Okiton:

They used hatred shut down our brother Ibeto Cements for demonic Dangote to thrive in his evil

Delusional biaflan,
Ibeto was only importing, he did not know how to manufacture

Smithkafors:
Make una vote Obi president. The man would’ve cleaned this country.

This country needs help. Banks are not left out.

He should go and clean Ibo land
Obi was a complete failure as a governor.

For your information, he can never be president except in biafra Kingdom.

FreeStuffsNG:
This calls for immediate diligent investigation for likelihood of national economic sabotage and unfair trade practices against Nigerians by these three companies.

This is utterly shameful and heads must roll in any agency found culpable. For years, there has been strident calls for investigation of these companies cement companies and these calls have been ignored but this report is by far the most compelling to investigate cement pricing in Nigeria. Haba!

Only Lafarge come close to having a significant amount of its shares owned by Nigerians while the 2 cement companies owned by Nigerians are literally one-man business like a 2-man cartel using cement price to hold down the progress of this nation.
More than 90% of the outstanding shares of Dangote cement is owned by Alhaji Aliko Dangote, GCON while about 95% of the outstanding shares of BUA cement is owned by Alhaji Rabiu. So the unparalleled world record profit held by these two companies end in the pocket of these two individuals

And you guys will blame the government for no foreign investment into the country, you don't know something like that can blacklist Nigeria from foreign investment ? even China wouldn't dare to try something like that, witch hunting because companies are making profits.

Nigeria is practicing free markets and not an autocratic country, the government can't set the price of goods in a free market and democracy, if the FG try that Nigeria won't see any foreign investment.

FreeStuffsNG:
This calls for immediate diligent investigation for likelihood of national economic sabotage and unfair trade practices against Nigerians by these three companies.

This is utterly shameful and heads must roll in any agency found culpable. For years, there has been strident calls for investigation of these companies cement companies and these calls have been ignored but this report is by far the most compelling to investigate cement pricing in Nigeria. Haba!

Only Lafarge come close to having a significant amount of its shares owned by Nigerians while the 2 cement companies owned by Nigerians are literally one-man business like a 2-man cartel using cement price to hold down the progress of this nation.
More than 90% of the outstanding shares of Dangote cement is owned by Alhaji Aliko Dangote, GCON while about 95% of the outstanding shares of BUA cement is owned by Alhaji Rabiu. So the unparalleled world record profit held by these two companies end in the pocket of these two individuals

Shut your fvcking mouth.

Tell your father to open company and make you shareholder.

Will u dictate for another person hoe much shares to hold on his company?

They are profiteering. That is should be a crime but billionaires don't go to prison in this part of the world.

nairalanda1:




So both of you are actually Communists

You both think that companies should not be allowed to make a profit.

Right, comrades?

I never thought I would see the day a tinubu and obi supporter, a one Nigerian and a Biafran would agree.

Well, sane economists always know it is right for companies to make a profit. They need to pay salaries,pay for maintenance,pay for upgrades and so forth.

But you two want cement to sell at 50 naira a bag. Shebi you go pay the salaries of the workers then?

Anyway, Communists want nothing more

I read their post again and again. Nobody said they should not make profit but what they make as profit is too much. They need to stop adding salt to our injuries. The indirect extortion needs to stop.

Smithkafors:
Make una vote Obi president. The man would’ve cleaned this country.

This country needs help. Banks are not left out.

He should replace Mazi Simon Ekpa as biafran prime minister, Biafra needs help more.

BadMaster:
Some of their foreign counterparts have more than 10 times their production capacity, yet make far less profit. This is an indicator that Cement is overpriced in this part of the world. Dangote, BUA and Lafarge Africa are clearly ripping us off.

We are in trouble in this country, and we don't have a responsible government to check these criminals.

The government can't check them because we are practicing free markets and democracy in Nigeria. FG can't set prices for companies and you just can't witch hunt companies for making profits.

If the FG try that you guys would also be the first one to blame federal government for not making the country suitable for foreign investments, we are practicing democracy in Nigeria which mean companies also have the rights to set any price for their goods and services without government control like a military or autocratic government and doing something like that would send a wrong message to foreign investors and hurt Nigeria economy badly.

Afonja007:
dangote will not be serving less than 20 years imprisonment in America or other western nations,did you read where 3.6billion dollars was sold to dangote at rate of 360 naira while others are buying dollars at rate of 500naira ?keep supporting evil na you go suffer it,abundance of lime stone in nigeria yet cement is 6200 naira jeep praising them

The Ibos like Anyim Pius, Okonjo Iweala that looted the treasury during GEJ era are supposed to be in prison

LockDown69:
The FG is to be blamed for this.

We are not in an autocratic government, the federal government can't control companies or chide companies because they are making profits it will send a wrong message to foreign investors and hurt Nigeria economy.

nairalanda1:




So both of you are actually Communists

You both think that companies should not be allowed to make a profit.

Right, comrades?

I never thought I would see the day a tinubu and obi supporter, a one Nigerian and a Biafran would agree.

Well, sane economists always know it is right for companies to make a profit. They need to pay salaries,pay for maintenance,pay for upgrades and so forth.

But you two want cement to sell at 50 naira a bag. Shebi you go pay the salaries of the workers then?

Anyway, Communists want nothing more

Those making 19% profits are they not paying their workers? Infact if you check it you'd be suprised they pay better than their nigeria counterpart

no effective price control in this country. somebody can decide to sell at any price and nobody will question it.

prophetfire:
THEY JUST HIKE THEIR PRICES ANYHOW AND OUR GOVERNMENT DON'T CARE.
NO GOVERNMENT REGULATIONS.
GOVERNMENT ALLOW THEM TO DO AS THEY LIKE BECAUSE GOVERNMENT OFFICIALS ARE IN THEIR POCKETS.
COMPANIES WITH LOWER PRODUCTION CAPACITIES MAKING MUCH MORE PROFITS THAN OTHER COMPANIES WITH FAR HIGHER PRODUCTION OUTPUTS, SMACKS OF FRAUD AND UNDERHAND PRACTICES.

The government can't control the prices of goods in a free markets and democracy.

So many Nigerians are just ignorant try that and watch foreign investment desert Nigeria and hurt Nigeria economy badly even China wouldn't try that easily.

God help us

FreeStuffsNG:
This calls for immediate diligent investigation for likelihood of national economic sabotage and unfair trade practices against Nigerians by these three companies.

This is utterly shameful and heads must roll in any agency found culpable. For years, there has been strident calls for investigation of these companies cement companies and these calls have been ignored but this report is by far the most compelling to investigate cement pricing in Nigeria. Haba!

Only Lafarge come close to having a significant amount of its shares owned by Nigerians while the 2 cement companies owned by Nigerians are literally one-man business like a 2-man cartel using cement price to hold down the progress of this nation.
More than 90% of the outstanding shares of Dangote cement is owned by Alhaji Aliko Dangote, GCON while about 95% of the outstanding shares of BUA cement is owned by Alhaji Rabiu. So the unparalleled world record profit held by these two companies end in the pocket of these two individuals

You can either start your own cement company or go and buy the remaining free float shares.

Business men have worked hard to establish a companies and you are complaining that they own 90% shares.
have they violated the SEC and NGX rules? are the free float not above the 40B Naira tresh-hold or value?

Thank God other cement companies were mentioned. I used to laugh when people say Dangote has monopoly in cement industry. many didn't know that Nigeria has up to 10 cement companies with 3 listed on the stock exchange.
They are all competing fairly. Anyone that thinks Dangote has higher number of market shares should know that, no one is stopping the others from expanding.

Ever8090:
I use to respect this Dangote but of recent, I am beginning to suspect that niga is a quiet crook. The man is worst than Nigerian politicians,

For years i have noised the absurdity of Dangote profiteering off the common Nigerian. Some people would say it’s an attack on their tribes-man, ironically they are ones suffering the most under his weight.

Dangote industry is one of worst things that has happened to Nigeria. His shadowy anti-competition business practices is just one in a long list of his illegalities sadly enabled by sitting governments.

I have said it before and I say it again, just wait for his refinery to start operating then let’s see how much fuel would be by then. Y’all have not seen anything yet

When Nigerians wake up from their sleep and see Dangote’s fat hands choking them. They would boycott Dangote Industry and promote healthy competition by themselves.

Wicked practices that squeeze the masses to amass wealth

FreeStuffsNG:
This calls for immediate diligent investigation for likelihood of national economic sabotage and unfair trade practices against Nigerians by these three companies.

This is utterly shameful and heads must roll in any agency found culpable. For years, there has been strident calls for investigation of these companies cement companies and these calls have been ignored but this report is by far the most compelling to investigate cement pricing in Nigeria. Haba!

Only Lafarge come close to having a significant amount of its shares owned by Nigerians while the 2 cement companies owned by Nigerians are literally one-man business like a 2-man cartel using cement price to hold down the progress of this nation.
More than 90% of the outstanding shares of Dangote cement is owned by Alhaji Aliko Dangote, GCON while about 95% of the outstanding shares of BUA cement is owned by Alhaji Rabiu. So the unparalleled world record profit held by these two companies end in the pocket of these two individuals

It's a capitalist world , and the 3 businesses are privately owned, it's important.to note while the comparison of earnings before tax deductibles is very generous to the Nigerian firms these firms are also most exposed to Forex fluctuations and overhead cost inconsistencies.

Unless the consumer protection agency can assert that there was a joint enterprise by these 3 companies to fix the price of cement then there can be no crime, if you can build your own cement factory and undercut them then you're welcome to it.

And the idea that 90% of shares end up in BUA or Dangote's pocket's is nonsense and devoid of fact, these are both publicly traded on the Nigerian exchange and Dangote has been moving to list on the London exchange for some time now so you can spare us the wailing.

The consumer protection agency has a duty to Nigerians they should be responsible for regulatory compliance

pocom35:
;Dhow na?

very wicked and greedy .

georgeakins:



Delusional biaflan,
Ibeto was only importing, he did not know how to manufacture

Fallacious! Both Dangote & Ibeto were allowed to import a percentage to augment insufficient local supplies otherwise prices of few locally produced would skyrocket. That's commonsensical, RIGHT?

IBETO later got forex from CBN to boost local production both in Enugu & PHC with other value-added (engineering, design, etc) BUT Dangote under Buhari stopped Ibeto, and continued giving forex to Dangote!

Don't be mischievous. Dangote is not pro-masses. He's so selfish & an economic saboteur!

If BAT has the balls & restores IBETO CEMENT, watch out & see how he will crash cement prices.

Okiton:

They used hatred shut down our brother Ibeto Cements for demonic Dangote to thrive in his evil

Nobody shut down ibeto because of hatred, ibeto failed to increase it's production capacity but was rather using its licence to import cement and rebag while that was only meant to be a temporary measure to build up local manufacturing capacity.

Ibeto was hurting the Nigerians economy and had to go. No one's stopping ibeto from making corrections within the market, it was a simple CBN policy of local production that killed ibeto.

And even if Dangote influenced government to make that policy he has a right to lobby for it if he sees that ibeto's practice would undermine his business and the domestic interest of Nigeria, all ibeto had to do was make adjustments from import to local manufacturing

georgeakins:


The Ibos like Anyim Pius, Okonjo Iweala that looted the treasury during GEJ era are supposed to be in prison

in 63 years igbo man ruled nigeria only for 6 months, that nigeria is in the same category of somalia Yemen Afghanistan burkina fasso mali niger republic Chad plus Sudan ,yorubas and northerners can explain to us why nigeria is hell on earth ,

pocom35:

he is not worse .. You just seem to have an entitlement mentality...
no living body who is Nigerian has invested more than he has in Nigeria.. most of the investment are from loans He must settle.. He just can't turn business to charity ..He is also has no monopoly at least BUA has opened some people's eyes
BUA's cement price will go back to normal ...just watch

Evidently BUA is playing a game of undercutting Dangote to gain some of the local market share, that price reduction is a temporary thing, they can not sustain it.

The OP mislead the readers by suggesting BUA, Lafarge and Dangote had an unusually high profit margin while in truth they don't, unlike their international counterparts they don't receive government intervention funds, or preferable tax deductibles.
If Dangote defaulted on his loans today the CBN wouldn't come to his rescue because they don't even have the capacity to do so. You lot are complaining about Forex at over 1000/$ bit never thought about when Dangote watched 2 billion wiped out of his total asset value because the naira lost value. The man has borrowed over 6 billion to build that refinery and it has gone well over cost, whose going to help him repay his debtors !

He still get mind dey mock us with profit,this man need slap

Afonja007:
dangote will not be serving less than 20 years imprisonment in America or other western nations,did you read where 3.6billion dollars was sold to dangote at rate of 360 naira while others are buying dollars at rate of 500naira ?keep supporting evil na you go suffer it,abundance of lime stone in nigeria yet cement is 6200 naira jeep praising them

The FX was sold to Dangote at CBN rate as was the FG multiple window policy as part of the FG's 20-25% investment in his refinery. And Dangote wasn't the only beneficiary though the particular release made him one of its highest.

The FG failed to manage the FX and that threatened the refinery project.

I respect Dangote because unlike the idiots who fail to invest Dangote takes very serious risks in investing in Nigeria.

Smithkafors:
Make una vote Obi president. The man would’ve cleaned this country.

This country needs help. Banks are not left out.

bank is no problem