₦airaland Forum

cr7lomo:
U said it all...how can the richest man in Africa not have a thriving business outside Nigeria

Look at shop rite , multi choice, mtn....these are south African businesses thriving outside south Africa, that's hw u know a good business man... Dangote just de use Nigeria make real money due to the monopolistic nature of government help...

First, Nigeria itself is an incredibly HUGE market with so many needs (for example, all of that massive infrastructure gap that needs to be bridged will requires tens of millions of tons of cement). Nonetheless, Dangote has plants in many African countries, including the biggest such as South Africa, Ethiopia, Cameroon, DR Congo, Zambia, Tanzania, Ghana, etc., and also exports products to other African countries.

lancdoz:
They should make the bidding transparent and open to all so that people like us can bid for it

It is a publicly-listed company listed on the stock exchange, which means that anyone can go bid on it...

jaems:
This is the best time to get his refinery working. I am not sure of which administration gave him the operating license anyway. It is going to shut down a lot of fraudulent importation business and probably drop the price of fuel. It will still be a monopoly nonetheless.

According to H.E Emir Sanusi, the problem of Nigeria is the issue of vested interest. Successive governments have intentionally destroyed the government's capacity just to enrich individuals.

What will it cost the government to set up multiple refineries?
Why does government award contract to private firms instead of equipping the ministries?

Dangote is only enjoying a tradition that has come to stay. Can we ask him not to take advantage of what is on ground? No! Anyone would. So, divesting from a business that does not give him the benefits of monopoly isn't a bad idea after all.

Because the FOUR refineries that the government presently owns is running well?

Simply doing more of the wrong thing will not make it right. Reality is the Nigerian govt SUCKS at business.

Creampro:
You are 100 percent correct.

If Government gives anybody Monopoly of a product, tell me why the person will not become billionaire in USD.

Imagine Gov gives you Monopoly of salt or Monopoly of cooking oil etc.

soberdrunk:
It's like fishing in a fish pond and being labelled the best fisherman compared to other fishermen that comb the rivers....

Where the “monopoly”?

Cement: LaFarge, Heidelberg, Scancem and BUA
Sugar: Flour Mills of Nigeria (Golden Sugar), BUA Group, etc.
Flour Mills: FMN (Golden Penny), Honeywell, Olam, etc.
Tomato Paste: Erisco, Jos Tomato, smugglers, etc.
Rice: Stallion Group, Olam International, Croscharis, etc.
Refinery: NNPC, Orient, 28 other licensees, etc.

SmartMen:
He can't regret the refinery cos no competition there as far as Nigeria is concerned!

And yet there were at least 28 licenses given for private refineries (starting as far back as under OBJ) before Dangote was granted a refinery license under Jonathan. Soon, when the refinery starts up, some of us our misguided siblings will start bitching about “monopoly”.

Legendguru:
dude said it all. without political backinga dangote would have just been like those ordinary business men out there from day one.its hard to make it and stay through in nigeria without getting hands dirty. the monopoly in cement with no solid competitors really help boost his business accross west africa .i hope he doesnt regret the refinery investment

You mean “no solid competitors” like LaFarge, the world’s BIGGEST cement producer?

Dude, Nigeria has always had the world’s biggest cement companies operating here since before even many of our parents were born from the 1950/60s until the present day! The likes of LaFarge, Blue Circle, Holcim (since merged into LaFarge with Blue Circle), Scancem, and Heidelberg have always continuously maintained operations in Nigeria, long before Dangote built his first kiln. What Dangote (and the BUA Group) has achieved to get these foreign competitors to up their game and put more investments into their Nigerian operations (thus, for example, LaFarge has modernized its Shagamu and Ewekoro plants), and upgrade the quality of Nigeria-produced cement from 32.5R grade to 42.5 R (while Dangote is the first/only African plant to produce 52.5R graded cement). Meanwhile, Dangote has expanded into several other African countries, where he not only has to compete with these “solid” multinationals but also with national competitors.

Bruno3000:
haba... no reduction? how much be last price?

john650:
The question is what do the Indian companies know that Nigerian companies don't? If Dangote is selling his flour mill business because it is loss making but Crown Flour mill owned by Olam is profitable, how come Dangote Flour hasn't learnt from Crown Flour?

Some of the reasons Dangote Flour mill gave for its loss making include cross border smuggling. If that is the case, why isn't Crown Flour Mills impacted by the same problem? Also, what is the Nigerian government doing to address the cross border smuggling?

Every Nigerian should be concerned about the sale of a wholly owned Nigerian company to a foreign entity. Also, the flour mill business will become monopolistic in nature, where the industry is controlled by two firms leading to higher prices for the consumer.

It is NOT loss-making...
Dangote Flour Mills made a gross PROFIT of over N22b in 2018.

MrMcJay:
You forgot his tomato venture. It failed woefully.

Kfed4ril:
You forgot tomatoes paste.

You mean Africa’s biggest tomato paste plant that has since resumed production...
With plans not only to EXPAND but to set up a model farm because the output of local out-growers is insufficient.

https://www.pulse.ng/bi/strategy/dangotes-tomato-plant-resumes-production-in-a-move-to-cut-paste-imports/hhyy2z2

poseidon12:
The report said the business is losing money.

Dangote Flour Mills made a gross PROFIT of over N22 billion in 2018 (see accounts linked blow).

http://www.nse.com.ng/Financial_NewsDocs/21540_DANGOTE_FLOUR_MILLS_PLC_FINANCIAL_STATEMENTS_MARCH_2018.pdf

poseidon12:
Olam is Asian company, probably India.

Olam International is headquartered in Singapore...
It is one of the world’s biggest (and most profitable) agricultural companies.

soberdrunk:
When we tell them Dangote is not a "seasoned" entrepreneur, they will say it's "bad belle", "jealousy", they will say "what do you have", "are you rich" but isn't it becoming very obvious that all the sectors of of his business where he doesn't have "government induced monopolistic power" keeps packing up. First it was juice, then noodles, now flour......

Pure comedy!
Selling a business and walking away with US$361 million is not “seasoned” business?! SMH

denjjy:
Eyes don see many things for here. There was day I came to class and ask of some little girls in Jss 2. I was told by their colleagues that they married during the weekend and they're not coming to school again. imagine girls between the age of 12-14. If these people do not sit down to address the areas where culture and religion is affecting their lives and development, they will remain stagnant forever......

The problem is that they’re dragging the rest of us down with them! A chain is only as strong as its weakest link(s).

Gforce2019:
Wetin come consign this Opportunity with their matter...

Nah your family?

I'm tired of this poo comments

It affects ALL OF US!

When the prevalence of child marriages lead to increased (possibly endemic) healthcare issues and a drain on public resources, when it leads to lower educational enrollment and/or achievement, when it leads to a population explosion (because people are having kids early and thus more kids over their fertile years), when that population explosion leads to a poverty trap (because people marrying earlier tend to drop out of school to have and raise their kids and are thus either not working or are employed in unskilled jobs with the lowest wages), and when such population explosion and poverty trap leads to radicalism, banditry, and general brigandage, trust that it will affect YOUR FAMILY as well. SMH

ThePreachersSon:
That's if they've not done it before

Abegi, let them keep fooling themselves that early fornication is non-existent in the North...
For all you know, these two may be getting hitched because the little girl has been knocked up.

OGHENAOGIE:
d way una carry school matter ee...wats ur definition of education...is it getting a university degree with many unemployed...do dis guys Luk like beggars to u pple...?? dem don marry...even in UK Us pple marry early...we in d south shd luk at tins holistically...some of our parents marry early dan us and were able to build homes...if pple are matured marrying why is divorce high dis days...

The UK and US each have a social safety net (and universal healthcare in the UK)...
Here there is no social security, except you think that carrying a begging bowl by the roadside is one.

chucs:
Please save that explanation. Early marriage ultimately leads to VVF,RVS and the rest of them cuz the pelvis is still not developed and thus not roomy to accommodate passage of the fetus. So that explains the reason for the obstructed labour. Pls go back to ur obs and gynea books.

Thank you. His argument is akin to stating that abnormal cells cause lung cancer and thus one should not be concerned about smoking...SMH

abdulazeez1002:
Early marriage is better than early fornication

HELL NO, IT IS NOT!!

The two are just different types of vices. Unfortunately, early marriage is more likely of the two to have life-long adverse consequences. And if a child brides starts having kids early, a greater chance of VVF which could have both fatal and/or life-long DISASTROUS (health, physical, social and psychological) consequences.
.

oduademoner:
Ugly and talentless!!!

Egbon, let go of the hate...
It will do you a world of good.

Folks can debate and argue about Simi’s “fine-ness” (as the saying goes, it all in the eye of the beholder)...
But the vocal (and musical) talent of frankly one of Africa’s best singers of the present age seems all a bit petty.

ubee:
One of the most difficult stuff for me to do is to comment about a lady/chic's unattractiveness. I rather pass up the chance of talking than say a lady/chic is not fine, or is outright ugly.
But truth be told it was funny to see this guy saying Simi is fine
She's not ugly o! But you can't call her a fine girl at all.

Abegi, Simi is usually fine...
This picture just didn’t do any of them justice.

ValCon888:
I couldn't even point at 1 fine girl amongst all of them maybe except simi.

Even Simi looked one kine in that picture...

RTSC:
Covenant university has the potential to help the poor in Nigeria than your politicians in power.

If covenant university become a top notch school capable of retaining a quarter of the billions of dollars we spend on foreign education, the economy is better off, and there is more wealth.

And if that becomes possible, it could force other super wealthy investors to build similar new "Ivy Leagues" schools clusters, which are Ivy not because of age as is the case now, but based on infrastructure and quality of resource.
And there are other advantages like quality research in science and technology to improve the lives of the average Nigerian.

A quality education is the greatest investment into Nigeria.
It is the difference between first and Third World.
It changes everything including the poor.

Dude, we are on the same page (see my reference to education as the best poverty alleviation program)...
But next time, abegi do not get onto the tail end of a thread or jump into the middle of a ongoing discussion. Cheers.

Dudeweedlmao:
Those two _faggots are browsing Facebook inside a 5 billion naira building meant for research? Our youth are disgusting.

Was the crude slur really necessary? And how do you know their research does not involve/require social media?! SMDH

starstaz:
I tire ooo.

That man called oyedepo may be black outside . naa oyinbo mentality full hin/ him brain.
God bless him.

Dude, your racist inferiority complex was totally unnecessary...

gosmoney:
dey will say what about d poor has if dey want to remain poor for life

If you lift the poor, you lift the entire society...
Ultimately, every society is as strong as its weakest link!
>

barojana:
My visit to Covenant University Center For Research And Discovery

The center was commissioned by bishop oyedepo a while ago. I got to visit the place and it was very impressive..

According to what I know, it was endowed by Winners Chapel for Covenant University and cost about 5 billion naira.

The purpose of the building is for multidisciplinary research. It has 24 laboratories, 12 conference halls and 24 seminar rooms, 97 offices and four panoramic elevators. It also houses Hebron startup lab.

While I got to access to much of the building I couldn't gain access to the labs unfortunately. But I was able to peek through the molecular labs though I couldn't get a picture.

IMPRESSIVE! Thanks for sharing...
.

jconsulting:
They should find their level, the poor should wait for Buhari University to start then they can send their children to study Terrorist Engineering​

This is so wrong. Are you saying the Almajiri and co. should find their Next Level?

Anyway, I hope that Covenant (and/or Winners) would have scholarship programs. A sound education is the best poverty alleviation program.

pafra:
one man doing what a country can not do.

He is PART AND PARCEL of the country - for better and/or for worse...

Nonetheless, he is doing pretty much what Dangote is doing in manufacturing. Hopefully, the first steps towards a critical mass.

Printerscanner:
This fat foolish Ambode is a useless bastard. So, he is bringing the President down to lagos to commission unfinished projects. Can you all see why see sent the fat idiot packing?

Abeg, do not insult our collective intelligence with this Monday Morning justification...

Greater "foolishness" is the president (and the Bourdillon party leader) is leaving important work to come commission "unfinished projects"!

mknigeriagreat:
Yes the same way Tinubu shared money to some people to get him Ambode in. Before you start displaying your holy art thou attitude. After all your Messiah Atiku is a very honest man that doesn't share any money. Abi na your brother bros Jonathan?

So your defense for Tinubu is basically "yes, he is corrupt but so are other people!" Kai Walahi!

frickyjohn:
This your caption is one kind. Which one is "baby manufacturing factory" ?

I think the actual "manufacturing" is done somewhere else...

lloyds:
Rushing uncompleted project in the name of commissioning is not good. . the Oshodi project needs to be properly finished. The rush is enforcing substandard fix.

I do not think they are actually "rushing" it...
This is a political commissioning, and I imagine the work would continue (like the Ikeja Bus Terminal).