God Bless you Dangote, you are investing your money at home instead of putting it in a foreign bank like others

@russellino,

Thanks for your insight, but it is clear that Dangote is not a monopolistic enterprise. You see, all governments in the world protect their own, even fraudulently, for the sake of development of technology, skill and economy. China for example gives interest rates for less than 2% to her citizens; many of them failed to pay and it is ignored. I was in the U.S. in 2004 when i read about a $750million contract given to an IT firm, that failed to produce the expected result. The company is one of the big players in the world today.

By the way, Dangote can choose to import, but keeps producing most of their products in Nigeria. It is not easy, my brother!

Let me remind you of a recent event. The U.S. Ministry of Defense awarded a contract for on-air refueling tanker aircraft to AIRBUS of France. BOEING of U.S. protested and used all their contacts to have the contract nullified and re-awarded to them. The U.S. government paid a heavy fine, but did not care.

For those complaining about price, may i suggest that the investors are taking too much risk and they need unusual returns to make up. A quick example: The governor (Amosun) is already asking Dangote to construct road to his factory, yet the company pays so much tax.

I prefer OANDO, DANGOTE, ZINOX, GLO to what has happened to our Textile industries now that we import "quality" textiles from Cote de vua, Ghana, Togo. I would feel ashamed. It was when our own Adenuga's GLO came, that MTN suddenly discovered that per second billing is possible!

Someone on this thread stated that Dangote would not be able to survive in an international market without governement favors. That is true, but the favors are neccesary, because other governments do it for their exporters most notably the chinese with their artificially lowered currency.

As great as this news is i never advoated an export based economy for this reason. It is a drain of government funds, and not sustainable for a country without much tax revenue like nigeria.

pleep:

Someone on this thread stated that Dangote would not be able to survive in an international market without governement favors. That is true, but the favors are neccesary, because other governments do it for their exporters most notably the chinese with their artificially lowered currency.

As great as this news is i never advoated an export based economy for this reason. It is a drain of government funds, and not sustainable for a country without much tax revenue like nigeria.

What type of economy do you advocate for Nigeria then.

jensinmi:

@ 0lumide:

I agree with your assertions. I fail to see how his business model can compete on the global market. Please be kind enough to consider changing your tone. A lot of posters will feel you have something personal against Dangote. This may dilute the message you are trying to send across.

Please, can you kindly tell me what dangote's business model is?

any day dangote cement is exported, i will kill one cow for a party to celebrate. This is non sense, he is just a politician. Guys, check this, how much is cement sold in Nigeria today, how much is the landing cost of cement in Lagos, and other African countries, today Nigerians pay highest for cement. Other countries would rather import from Asia than buy from Nigeria at highest price, the reason is simple, if they buy from Nigeria, they will not be able to compete with imports from Asia.

But I know this is Nigeria, dangote can take cement to Ghana and sell at 1,000 naira per bag, while we buy at close to 2,000 naira per bag back home, don't be surprised.
I have family friends in Ghana, and from what they told me, the same LPG cooking gas we buy 3,300 per 12.5kg is sold for 1,200 in Ghana, I still want to confirm this. It can happen to cement too. The bulk of LPG cooking gas used in Ghana comes from Nigerian LNG, yet we pay more.

If you have people in Ghana, please confirm ooooo.

0lumide:

Export Sugar to where? Dangote can't compete in international market unless he goes and corrupt the government of other  countries,  Also, he can't beat the honest business men across the world who sell quality for cheap without government favours,  Dangote won't survive in Nigeria without the corrupt politics and monopolistic favours he gets,  Take away his political favours and you'll have a business man wannabe as the richest black man, 50% is a better business man than Dangote, 

hehehe

You might not be wrong on bolded (i assume that you mean 50 cent)

Arosa:

What type of economy do you advocate for Nigeria then. 

Isolationism.  High tariffs on all foreign products and domestic production geared towards the domestic market. In this model economic growth will be almost stagnant after the first few years, but the standard of living will be good. atleast everyone would have a job and the government would get a steady stream of tax revenue in addition to the oil revenue witch can be used for defense or service spending.

contrast this to our current model which results in high economic growth and a lowering standard of living/ employment.

slam7000:

Alj Haremmmmmmm, how much is the price of 50kg bag of portland cement,

To be honest, I have not brought cement so I can not say

[size=14pt]@ Olumide[/size]

In every country, there are monopolistic companies that also mix politics with their business, it is not new to Nigeria.

Name one multinational that has not in one point or the other mixed politics with business ? From shell, to even sony. politics is part of Business.

Dangote is not any different.

Hmmm! It seems someone is encouraging monopoly here.

alj harem:

To be honest, I have not brought cement so I can not say

[size=14pt]@ Olumide[/size]

In every country, there are monopolistic companies that also mix politics with their business, it is not new to Nigeria.

Name one multinational that has not in one point or the other mixed politics with business ? From shell, to even sony. politics is part of Business.

Dangote is not any different.

Please don't be the rich's ass kisser, Monopolies are not decided by the government in a democratic society instead it is the capital required to start a business that decides how many people will venture into such, There are more than 50 Nigerian who were willing to invest in cement local production, Which multinational company needs favour when they have capitals? Don't confuse countries tryin to woo multinationals with favour ok?

ekt_bear:

hehehe

You might not be wrong on bolded (i assume that you mean 50 cent)

Lol yea, I was too lazy to type cent lol,

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