₦airaland Forum

olajizz01:
I have said this time without number that Dangote is a confirmed crook,as we have political thieve thieve,Dangote and his gangs are economic thieves with the help of political thieves.


Imaging last year,BUA declared 45.7 percent profits on cement. we haven't seen the profit declaration of the senior economic crook a.k.a Dangote on his cement company maybe he didn't wanted to declared it not to cause uprising.

Dangote makes 60% profit in Nigeria.

On a per capita basis, Nigeria is consuming less cement than almost any other country in Africa. How much is Dangote paying you to defend this insanity?

uruba23:
Nigeria is a country lacking in critical infrastructure and yes we have housing deficit which need to be urgently addressed.The truth is that we have 5 cement company in Nigeria and I want to believe we have the highest capacity in Africa. to put the blame at the door steps of business men who had a template through their business plan is very unfair..If Mr Rabiu is very sincere let him crash his price, and see if Alhaji wont at the end they would face the when neighbouring countries comes and enjoy arbitrage opportunities at the expense of the Nigeria economy .

This is not true. Here are quotes from Rabiu addressing this misconception.

Rabiu told reporters yesterday in Lagos that the price of cement, which presently sells for about N4,000 per bag, remains high in Nigeria because the few producers are not able to meet the country’s huge demand. “That is a simple economics of supply and demand,” he said, just as he faulted the belief that the country is self-sufficient in cement production.

The billionaire explained: “Look at the numbers: Nigeria is over 200 million people today in terms of population. If you look at the production of cement, last year, we were under 30 million metric tonnes.“In fact, last year was higher than the year before, which means that in 2019, we were doing between 26 and 27 million metric tonnes. I am talking about production, and not installed capacity, which is another thing entirely.

“Nigeria’s 200 million people make it about 130 kilograms per head. If you check, you will see that most countries in Africa are doing between 170 kilogrammes to 200 kilogrammes per head.“So, Nigeria is actually producing less than other countries in Africa, apart from maybe Niger Republic. So, that means that we do not have enough capacity.”

https://www.thisdaylive.com/index.php/2021/02/09/bua-advocates-liberalisation-of-cement-policy-to-crash-price/

For those who don't understand financial statements. Look at the bottom of this chart highlighted in yellow. EBITDA refers to cash earnings before tax.

Dangote is making 59.9% profit in Nigeria compared to only 23% profit in other African countries because other African countries don't allow him to monopolize the market. Data comes from Dangote's own website.

https://www.dangotecement.com/wp-content/uploads/reports/2020/9M/DangoteCement_9M2020_ResultsPresentation.pdf pg. 5

uruba23:
Oga you can make your point without being derogatory in your language, it makes it difficult to look at thing from your point of view..okay oya tell the F.G to give limitless telecom license that one doesn't involve any limited resources na. Common sense should let you know some industry do have barrier of entry to enable government sell at a premium and extra tax to take care of their budget.

Cement is a critical industry, and if the price is too high, that will destroy the economy. Every house needs cement, every road needs cement. When the government builds a bridge, railroad or airport, they need cement. Why should the government allow 3 companies to monopolize the cement industry forcing the government itself to pay 2 or 3 times the amount to build basic infrastructure. Please brother... think.

Dangote is selling cement at more than double the cost of production. His profit margin is 60% in Nigeria compared to 23% elsewhere in Africa and just 5% in South Africa (because whites aren't stupid enough to allow monopoly).

uruba23:
Chimpanzee can you please mind your use of words

No. You Nigerians reason like monkeys. In a normal country, someone like Dangote would be in jail. But here you are making excuses and talking about so-called "limited limestone resources" who educated you?

uruba23:
Oga Rabiu, you sha like to tackle your Senior Brother Alhaji despite copying his model...If cement policy allows an all comers affair what do you think would happen to the limited limestone resource. The F.G knows Nigeria is yet to start in terms of development, Lagos would be transforming to a Vertical city in the next 20 years those are realities. Remind me of the Yoruba movie I watch early this morning where one King was always begging for handout and almost sold a gold mine for 10000Naira per plot while another King sold the same land for 1.5billion Naira hereby having more than enough to take care of his subject.
We might both be looking at the same thing but seeing different things.

Limited limestone resource? Go back to school, stupid monkey. Here are Rabiu's own words from the article.

The BUA chairman said there are many other companies that have the capacity and access to funding to be able to compete in the industry in Nigeria, adding that the entire country is sitting on limestone.

“Anywhere you go, there is limestone in Nigeria,” he emphasised and explained: “And the cost of production is probably the lowest in Africa.”

https://www.thisdaylive.com/index.php/2021/02/09/bua-advocates-liberalisation-of-cement-policy-to-crash-price/

seborrhic:
In saner climes,Dangote would be paying fines in billions for anti-competitive business practices and possible investigation for any bribery of government officials.
Here we are celebrating a man whose only business motto and path to stupendous wealth has been through use of government contacts to get monopoly and driving out other Nigerian businesses through same government agents.

I have no more respect for Dangote. The man is a dirty crook. With the above statements, Rabiu has proven that he actually cares about Nigeria to some extent. Dangote's only goal is to loot the country into the ground.

Dangote earns a 60% profit margin on cement, the highest in the world.

lilvicky68:
Them go gree hear?..they are making money through dangote so it doesn't concern them..

How do you know this? Is Rabiu not also a northerner?

Horus:
Monorail bridge

When was this picture taken? has work resumed?

The Chairman and Founder of the BUA Group, Alhaji Abdulsamad Rabiu, has called for the liberalisation of Nigeria’s cement policy to boost production and subsequently crash the price of the commodity. Rabiu said he advised the federal government to open up the industry to allow for more players, expressing the belief that such would help to crash the price of cement in the country.

He states quote:

"Even though this cement policy is a good one, it must be done in such a way that a lot of players must come in and participate. There is no point in making a policy that only one, two, or three people are able to benefit from that policy. That does not make sense. I am benefiting from this policy, but I know it is a bad policy. So, whilst the policy is good, the way it is being administered is not good. You can’t have a policy that restricts so many people from participating, at the end of the day, you are just creating a monopoly."

Rabiu urged the federal government to open up the cement industry for more competition.

According to him, the few players in the industry, “are making so much money in the industry and Nigerians are the ones paying for this. I am part of it, but I know it is wrong. Few people are benefiting and 200 million people are suffering. The business is doing well, we are making money, but how much money do you really need?"

https://www.thisdaylive.com/index.php/2021/02/09/bua-advocates-liberalisation-of-cement-policy-to-crash-price/

Black men are naturally inclined towards homosexuality and all manner of perversion. Akata in the U.S. do the same thing.

Rugaria:
I don't believe that all dictators are evil, neither do I believe that all democracies are good... The taste of the pudding is in the eating... South korea, China, UAE, Qatar etc were all built up by either army Generals, communists, oligarchs or absolute monarchs.. Malaysia, Singapore and Thailand had the fakest democracies that were highly productive in terms of being responsive to the aspirations of the people.. Indonesia was set up by Suharto, a General! Many examples like this.. So when you talk of Africans holding their leaders accountable, you have to understand that firstly, you need to have a leadership willing to work for the entire country!

But if what you have is a dictatorship like the case of Marcos in the philippines, or PolPot in cambodia, or Buhari in Nigeria, the country will ultimately decay! Economic progress is hard to come by under self centered dictators and illiterate fake democrats alike.. Most African leaders were basically imposed. In the quest to have true African leaderships across the continent, wars have been fought to uproot some of them to no avail.. But when one talks about some of these western impositions and the effects of their loyalty to outsiders on the development of the continent, it sounds like you are giving excuses. Fact is that, if you don't have nationalist leaders accountable to the citizens of their countries, unproductive governance will still be the bane..

Leaders are a product of their culture. If you have a rubbish culture, you will have rubbish leaders. You say the West gave us Buhari? Then explain why our governors, senators and house of reps are also bad. Did the West impose them on us or did we elect them? What about our corrupt police men and teachers -- did the West "impose" them too? Did they fall from the sky or are they also Nigerians?

Nigerians have the leaders they deserve. A nation of monkeys will be ruled by monkeys. And unless you can admit this, you are part of the problem.

greymiles:
As we can see from all photos, it’s only afonja land that’s still backward
Go to Anambra or Enugu and see state of the art mansions
Show a picture of 20yrs ago and now and you see the East is far ahead of afonjas

You call mansions development? Nigerians have zero critical thinking.

KingOdart:
These are also pictures of Ibadan in 2020

Ibadan is as big as Anambra state and you will still find a lot of places with decent development.

Even in Kano you will still find places with decent development but the problem is only those who have the financial capability can live in those areas, even in Lagos and Abuja if you are not capable enough financially you can only live in Slums and ghetto.

The problem we have in Nigeria is poverty, address the poverty issues and all the beautiful places you see in developed nations will sprout out here too.

In Nigeria many people can't even afford three square meals a day or get employ as a graduate or get any job, most people hardly make 3$ a day and you are talking of skyscrapers? How many people can afford to live or do business in those kind of buildings in Nigeria?

You can this nonsense development?

Rossnitti:
Marina Lagos 1960s

www.nairaland.com/attachments/3845872_y_jpeg553a43ca4fe4abec1fbc1c41c8aa5d8a

Marina lagos 2021

www.nairaland.com/attachments/3352235_1090431605682981618290061521_jpg_jpeg80f650c25ef45f972033eb65df1abc7f

the last pic was taken in the early 80s you dumb monkey. Where is the Union Bank Logo?

There has been no improvement since then.

Rugaria:
You need your skull to be "wiped" out real quick because that thing is incapable of critical thinking! Frustrated minds didn't build shanghai or Hong Kong! Inventive minds in position of power did! And I can assure you that building up cities is no rocket science! Nigeria isn't getting it right because of the bad politics here. You have to stop being simplistic in your pedestrian analysis of sundry issues sometimes. In that Asia that gave you China, Qatar and Dubai, we have Yemen, Laos, Bhutan! Nigeria and many African states are better than these countries! So how do you spin that? Will you say the Asians are also re-tarded because of the failures of say Sirilanka, Phillipine or Myanmar? Isn't it obvious to you that it's the leadership in these different countries that steered their countries to either success or failure depending on their imputs while in power? So why can't one look at Africa from that kind of perspective?

The problem in Nigeria's real estate industry is inflation. The government is trying to stimulate local manufacturing by restricting imports, which has led to uncompetitive markets in cement and runaway food price inflation because local producers can't meet the demand. The high inflation rate keeps interest rates high, making mortgages impossible.

But how many Nigerians have you seen actually addressing real issues like that? Very few. Most take the easy way out and just blame corruption for all the nation's ills. Nigerians don't actually understand what is going wrong in the country. That's why they can't hold leaders accountable on specific issues that will actually make a difference.

Rugaria:
Traveling around Asia, one thing that has occurred to me is that in Nigeria, we are building nothing! Nothing! It is not that we are not building enough, it's just that we are dormant! If you have lived in any city neighborhood in china and left for a year or two, then visit again, you may find it hard to locate your former apartment! Continuously, they are building! Day and night construction! Here, Julius Berger will spend a decade on a road. Not so in Asia. Day and night, the construction company is at work. New skyscrapers everyday because of good policies and the fact that building materials are cheap and are sourced mainly locally.

Here Dangote is selling a bag of cement for a trillion and nobody wants to hold him accountable! How can you break even as a real estate developer with such obnoxious costs? It's not rocket science! The Asians made good policies, set high standards, recruited a civil service that is highly efficient and made sure that most building raw materials and building engineers are sourced locally sand with the help of consolidated funds in construction banks, they are powering ahead. Buhari muted the idea of a fund for works. Good idea but as usual, nepotism and tribalism will be used to destroy the good idea. Bad leadership is Nigerias problem!

You are still blaming leadership? Nigerians are the problem. An the best thing that could happen to this country is that it be wiped from the face of the earth. If I tell the typical nigger-arean that Dangote is destroying Nigeria's economy, he will want to fight me or tell me to "start my own cement company".

How then, can we say that these monkeys don't have the country they deserve? A stagnant population will have stagnant leaders and a stagnant country.

Kano in 1960 vs 2020 -- there has been significant improvement here. At least they aren't using mud anymore. Nation of monkeys

Ibadan Cocoa House. Built in 1965 -- this is still the tallest building in the entire city.

Ibadan, Nigeria 1970 vs 2020. Can you tell the difference?

Hong Kong

Tokyo Japan 1945 vs 2010

Doha Qatar 1990 vs 2010

Nigeria 1983 vs Nigeria 2020 -- only the room has changed.

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BabaOwen:
OP show us pictures of Alausa in 1990 and Alausa in 2020.

Or VI in 1980 and VI in 2020

Or Maitama in 1999 and Maitama in 2020.

Lagos Marina CMS 1983 vs 2020. It looks almost identical -- only the angle is different. The windows on the first building that were broken 30 years ago are still broken.

Dubai in 1990 vs present

It only takes 20 years for a country to transform from abject poverty to first world status. What is Nigeria doing wrong? The following photo is a picture of Shanghai China in 1990 compared to 2010 -- just 20 years!

BastardWike:
"Lagos Highland" indeed. Yes, Lagos island has lots high-rise buildings built mainly by banks and companies for their headquarters as well as some government agencies. However, over 70% of Lagos, especially mainland and including Ikeja, has a mass of bungalows and one storey buildings littering everywhere. I always wonder why a heavily congested city like Lagos, with no land left and suffering housing crises will be filled with bungalows. It just doesn't make sense! Same thing happens in Ibadan, they litter everywhere with dingy bungalows stretching for miles and making the city to look like a massive slum settlement.

It's unbelievable, really. You don't see this kind of behavior anywhere else on earth. Common sense should tell you to build taller to maximize lettable housing space, especially in Lagos.