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Business › Dangote, Ibeto Cement War: How BUA Mediated by Ironfaceman(op): 6:31am On Jun 13
The recent resolve by BUA Cement to slash Cement price to N3,500 from N5,500 prevailing Dangote set cement market price only signaled a return to liberal market economy under President Bola Tinubu. It sent excitement into many homes across the country. Nigerians are waiting for more of this break in monopoly because the journey has been tortious. Enjoy this edited documentary on the cement war between Dangote and Ibeto.

When president Olusegun Obasanjo encouraged local production of Cement, the manager of Ibeto Cement factory promised to flood the Nigerian market with cement and drastically reduce the price of the product. Ibeto fulfilled his promise and flooded the country with cement. The result was that the price of cement crashed. This jilted Dangote cement and affected his business adversely.


Aliko Dangote wrote a petition to former president Olusegun Obasanjo kicking against the authority the federal government granted Ibeto to import 800,000 metric tons of cement.

The former president issued a directive that Ibeto was not allowed to import cement into the country but improve his investment in local production. Dangote was allowed to import cement.

Thousands of members of staff of Ibeto Cement were rendered jobless.

When late president Umaru Yar’Adua succeeded Obasanjo, Ibeto in July 2007 applied for import allocation and it was granted. Once again he flooded the country with quality cement and the prices crashed.

Dangote Cement PLC quickly filled a suit alleging that Ibeto Cement company is getting undue advantage by the federal government.

On its part, the federal government contended that Dangote Cement PLC is plotting to wipe out fair competition, create a monopoly in the industry and transform itself to the only cork that crows in Nigeria but Ibeto further filled terms of settlement which were entered as consent judgement in the suit.

In line with the consent judgement, it will continue to import 1.5 million metric tonnes of cement per annum for a period between 1st of October 2007 to 30th of September 2019.

This was in line with federal government guarantee conveyed in a letter by the Ministry of Trade and Iindustry dated 5th June 2002.

By the judgement, the federal government was to pay Ibeto Cement company the sum of 40million dollars and 1.9 billion Naira. The amount is the verified claim by the inter-ministerial committee for the losses suffered by Ibeto for the unjustified closure of his bagging plant between December 2005 and when it resumed operation in October 2007


But Dangote Cement PLC consented that it’s right and interest was affected by the consent judgement. Dangote argued that the continuance of Ibeto cement made Dangote cement expensive

However the federal government and six of its agencies which are the other defendants in the counter affidavit, in a post by one Emmanuel Joel, an assistant litigation officer in the law firm of KenNna partners, that Dangote Cement PLC filled the suit with only one intention, to wipe out competition in cement business and become a monopoly.

The federal government also contended that Dangote cement has no locus in filling the suit as the matter didn’t concern them. It averred that the suit, en-suite by Ibeto cement against the federal government was not fraudulent, furthermore, he argued that Dangote cement was not a nominee or agent of government agencies which are defendants in the suite and it’s not acting on their behalf.

He argued that Dangote Cement PLC is not an agency of federal government with the statutory mandate of administering, managing and enforcing tax compliance therefore lacking the locus standi to commence or maintain legal action or seek the reliefs in the case.

Ibeto took cement to another level, he signed a contract agreement of 368 million dollars with a Chinese company; Sinoma Engineering, Design and Research Institute Company Limited to produce 6,000 metric tonnes of cement in Enugu State, South East of Nigeria. The contract covered crushing limestone, mining cement raw materials to packaging and even a 45 mega watt power plant, covering engineering design, equipment, material supply, civil works, installation, commissioning and personnel training.


Ibeto company has raised a similar facility in Port Harcourt, Rivers State which produces 6,000 tons of cement.

Dangote was afraid that his dominance and monopoly of cement production will be destroyed by Ibeto.
Ibeto is a billionaire and one of the wealthiest men in Africa. As at 2013, he was estimated to be worth about 3.7 billion dollars by ventures Africa. His petrochemical industry limited which manufactures oil lubricants and other various petroleum products both for local and international market has the largest liquid storage facility for petroleum product in Nigeria with a large capacity to store over 60,000 metric tonne and it’s located in in Apapa wharf and Ibru Jetty complex, Lagos, Nigeria.

President Buhari came into power, Ibeto company applied for foreign exchange from the CBN but was denied, Dangote applied and was granted, he has continued to enjoy all manner of waivers.


Like Dangote did during the Obasanjo regime, he was alleged to have approached his Fulani brother, Buhari to ban Ibeto cement. Following the closure of Ibeto cement by Buhari, the prices of cement jump from ₦1,500 to ₦2,500 and lately, N5,500 and Dangote smiled to the bank. Ibeto’s account is frozen.



Dr. Cletus Ibeto has been arrested several time, questioned by security agencies, harassed, humiliated, intimidated. There’s no law in the Nigerian law book that Ibeto company has breached. What then is his crime! Why are all these maltreatment!

And suddenly, BUA Cement enters the market ring.


https://mmsplusng.com/dangote-ibeto-cement-war-how-bua-mediated/

Politics › Re: I Never Got Security Vote As Lagos Governor, Don't Know What It Means - Fashola by Ironfaceman(m): 4:07pm On Jun 12
May be your Oga did not mention that to you. grin
Business › Re: Kano, Not Lagos, Built Foundations Of Dangote, Rabiu’s Success — Sanusi by Ironfaceman(op): 3:56pm On Jun 12
Where is Ibeto Cement, Burham Cement, larfarge cement, Benue Cement.

Dangote was and is a product of northern monopoly.



kedeojo:
You didn't say before the so called waiver, how he was trading cement with the loan capital of 500,000 far back in 60s from his grandfather. the VP was just mischievous. Kano mould dangote period. tell your billionaires from your place to invest in electricity, steel and not when dangote enter the market with massive input then we start hearing government made him to generate electricity. the richest igbo man, Arthur eze is busy building hotel at enugu airport.
Business › Re: Kano, Not Lagos, Built Foundations Of Dangote, Rabiu’s Success — Sanusi by Ironfaceman(op): 3:52pm On Jun 12
Well said. Im not disputing with you. What Shettima said made it look like Dangote made his money from Lagos.

All the while Dangote benefitted from mind boggling waivers
From border waivers, export waivers, custom examination waivers the list goings on.




jaxxy:
Tesla and thousands of companies arround the world got waivers too or else they wont survive in a new or capital intensive industry sector. Its not a strange practice in economicand business development.
Business › Re: Kano, Not Lagos, Built Foundations Of Dangote, Rabiu’s Success — Sanusi by Ironfaceman(op): 1:07pm On Jun 12
grin grin indirectly that's what it means.


MarketDispatch:
Is Emir of Kano saying VP was given Nigerians Lamba?
Islam › Re: Islam And Muslims In Yorubaland: Separating Criminality From Faith by Ironfaceman(m): 12:24pm On Jun 12
Well said.


Guestmale:
You're very correct.The Islamic jihadists are all out to make Nigeria a one religion country.Around 30,000 armed militants and jihadists operate across Nigeria, according to a report by the United States Commission on International Religious Freedom. Their mode operandi is like that of Taliban in Afghanistan, staging guerilla warfare with sole aim of taking over the government and install Islamic government and law, but it's DOA they won't succeed.
Politics › Re: Radda Makes U-Turn, Offers Amnesty To Bandits Seeking Peace by Ironfaceman(op): 8:25am On Jun 12
He said the state government remains willing to engage bandits and kidnappers who genuinely denounce criminal activities, stressing that the state government is willing to facilitate their reintegration.
This format of forgive and forget is what emboldens jihadist.

They only seek amnesty when they are over powered by the Army and return to the forest when the coast is clear..

May be through the hands of jihadist God will end the FRAUDULENT amalgamation MOU created by lord luggard. Who knows.
Politics › Radda Makes U-Turn, Offers Amnesty To Bandits Seeking Peace by Ironfaceman(op): 8:25am On Jun 12
Governor Dikko Umaru Radda of Katsina State has backed down on his decision not to engage bandits terrorising communities across the state, saying the door of negotiation is open to those willing to embrace peace.


He said the state government remains willing to engage bandits and kidnappers who genuinely denounce criminal activities, stressing that the state government is willing to facilitate their reintegration.

He asked them to abandon violence, embrace dialogue and surrender their weapons in the interest of peace and development.

The governor made the appeal during the official commissioning and handing over of 152 housing units to internally displaced persons (IDPs) in Jibia Local Government Area of the state,on Thursday.

The houses were constructed under the UNDP Northwest Prevention Facility Project under the support of the government of Germany in partnership with the state government.

The governor urged those still involved in criminal activities to turn a new leaf and return to their families and communities, assuring them that government support and opportunities could also be extended to them if they choose the path of peace as they lay down their weapons.

“To our brothers and sisters in the bush and forests, to those who still raise weapons against innocent people, and to those engaged in banditry, kidnapping and violence, hear me clearly today: there is a better path, the doors for dialogue, repentance and reintegration remain open.”

“Lay down your arms and return to your families and communities. The same houses, grants and opportunities being provided here today can be available to you tomorrow. Not through fear or bloodshed, but through peace, good governance and honest labour. Choose your children over your weapons. Choose prosperity over destruction. Choose life,” he said.
Radda reiterated his administration’s commitment to pursuing lawful and practical measures aimed at ending the persistent insecurity confronting many communities across the state.

He said lasting peace remains essential for the state’s development and pledged to continue supporting initiatives that promote stability, rehabilitation and community recovery.
https://dailytrust.com/radda-makes-u-turn-offers-amnesty-to-bandits-seeking-peace/

Business › Re: Kano, Not Lagos, Built Foundations Of Dangote, Rabiu’s Success — Sanusi by Ironfaceman(op): 10:06pm On Jun 11
Neither Kano or Lagos should be credited for dangotes wealth, except the person is being mischievous.

Dangote was sole beneficiary of Cement waivers and made bastard money from

Obajana Cement Plant Kogi State
Ibese Cement Plant Ogun State
Gboko Cement Plant Benue State
Okpella Cement Plant Edo State
Itori Cement Plant Ogun State

Lagos and Kano where just logistics offices
Business › Kano, Not Lagos, Built Foundations Of Dangote, Rabiu’s Success — Sanusi by Ironfaceman(op): 10:05pm On Jun 11
The Emir of Kano, Muhammadu Sanusi II, has challenged recent remarks by Vice President Kashim Shettima, insisting that Kano, not Lagos, nurtured the business foundations of Africa’s richest man, Aliko Dangote, and billionaire industrialist Abdul Samad Rabiu.

Sanusi made the remarks while addressing members of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), where he underscored Kano’s long-standing reputation as a commercial hub and a cradle of entrepreneurial success.

According to the Emir, both Dangote and Rabiu emerged from Kano’s deep-rooted trading tradition before expanding their business empires across Nigeria and beyond

These businessmen went to Lagos to expand their businesses and learn from the commercial environment there, not to learn how to do business from the beginning,” Sanusi said.

He noted that Kano has historically produced generations of successful merchants and entrepreneurs, arguing that the state’s commercial heritage played a significant role in shaping some of Africa’s most prominent business figures

The Emir’s comments are widely seen as a response to remarks made by Shettima during the Invest Lagos Summit 3.0 on Monday.

At the summit, the Vice President praised Lagos State’s economic environment and leadership, stating that Lagos was responsible for producing Africa’s richest individual.

“Lagos produced Africa’s richest man, not Kano. Aliko Dangote is a Lagos boy. Likewise, it was not Kano that produced Africa’s second-richest man, Abdul Samad Rabiu,” Shettima said.

The Vice President made the statement while emphasising Lagos State’s contribution to Nigeria’s economy and its role in fostering private-sector growth and wealth creation.

Sanusi’s response has since sparked renewed debate over the respective contributions of Kano and Lagos to the development of some of Nigeria’s most influential business leaders, reflecting a broader discussion about the country’s commercial history and economic identity
https://dailypost.ng/2026/06/11/kano-not-lagos-built-foundations-of-dangote-rabius-success-sanusi/

Phones › Re: Xenophobia: MTN Gives Repatriated Nigerians ₦100,000 Cash & ₦50,000 Airtime by Ironfaceman(op): 6:37pm On Jun 11
I believe you.




myrates:
Dey play, the South Animals go still collect in their own coin.
Phones › Re: Xenophobia: MTN Gives Repatriated Nigerians ₦100,000 Cash & ₦50,000 Airtime by Ironfaceman(op): 4:34pm On Jun 11
You made a point there. They dare not.




Incognito403:
You want a business to call out a government?
Stop dreaming.

Have you seen airpeace call out Tinubu or an south east governor? E get why.
Sports › Re: Super Eagles Players And Coaching Crew Rush To Meet Ronaldo by Ironfaceman(op): 3:42pm On Jun 11
Celebrate with others so that other will celebrate with you.


free2ryhme:
shameless lot

una mate dey world cup

na ronaldo una dey rush snap picture with
Sports › Re: Super Eagles Players And Coaching Crew Rush To Meet Ronaldo by Ironfaceman(op): 3:29pm On Jun 11
Hmm, somebody dey Waka dey go. You dey hustle to Greet am.

Wetin Dat one be


DoTheNeedful:
I didn't see any rush in the video. I only saw players and officials extending post-match courtesies and greetings to themselves.
Phones › Re: Xenophobia: MTN Gives Repatriated Nigerians ₦100,000 Cash & ₦50,000 Airtime by Ironfaceman(op): 2:54pm On Jun 11
Good effort from Mtn. But they can do more by calling rhamaposa out for his hypocrisy.

In this life you only know of today and yesterday but nobody knows tomorrow.
Phones › Xenophobia: MTN Gives Repatriated Nigerians ₦100,000 Cash & ₦50,000 Airtime by Ironfaceman(op): 2:53pm On Jun 11
XENOPHOBIA: MTN gives repatriated Nigerians N100,000, Imo awards N1m each

Premium Times

https://www.youtube.com/watch?v=kwSSs2M0aIE?si=5n_aIyCM2HhJHxED

Celebrities › Re: Ratels At The Airport Waiting For VeryDarkMan's Arrival by Ironfaceman(m): 11:40am On Jun 11
Asin
Sports › Re: Super Eagles Players And Coaching Crew Rush To Meet Ronaldo by Ironfaceman(op): 10:32am On Jun 11
Agba baller himself. Cr7.Nigerians just love this guy.
Sports › Super Eagles Players And Coaching Crew Rush To Meet Ronaldo by Ironfaceman(op): 10:31am On Jun 11
Super Eagles Players And Coaching Crew Rush To Meet Ronaldo


https://www.youtube.com/watch?v=Ubu-xEAaQdQ

Politics › Re: Gani Adams Mobilises Yoruba Monarchs Against Rising Insecurity by Ironfaceman(op): 8:05am On Jun 11
mirrael68:
Exactly.
Call the problem by the right name- it's not banditry or even terrorism, it's a jihad. They want full take over.
But you see, it won't happen.
For we have a promise from the promise keeper Himself - THE GATES OF HELL WILL NEVER PREVAIL!
For we have a promise from the promise keeper Himself - THE GATES OF HELL WILL NEVER PREVAIL![
I say a big Amen.
Politics › Re: Gani Adams Mobilises Yoruba Monarchs Against Rising Insecurity by Ironfaceman(op): 7:18pm On Jun 10
I was enjoying your write up until you started being tribal. What do you mean by you guys.
All that needs to be done is done.

My point is the states where all these jihadist come from should be under military surveillance.


martinmiller:
Take solid actions against all these insecurities shenanigans going on insouth West - how will this story challenge banditry, bk boys, fulani herdsman among others - all the groups put together, it is only when issues like this rises you see them putting out communique or what our view!

I was hoping to read how you guys are set to map out banditry, the oyo state governor is also jacketing up and down without no serious template - the other day Adelabus sister was rescued with effort from the gun kidnapping men, why can't the same technique be used against these guys in the Bush like what is stopping a whole state government and besides these bandit told you what they want lol 😆 are you saying nation building nah rocket science.

The problems of Nigeria are Nigerians, the politicians, their colonial masters and the civil service. Everything is politicised, it is deeper than what we are seeing on the media,the media as failed Nigerians.
Politics › Re: Damilola Sonayon-James Expresses Gratitude To Tinubu, Others by Ironfaceman(m): 5:13pm On Jun 10
Hamzat and damilola look like couples. I hope the don't get hooked up. cool
Politics › Re: Gani Adams Mobilises Yoruba Monarchs Against Rising Insecurity by Ironfaceman(op): 3:33pm On Jun 10
It renews the demand for the establishment of State Police and Local Government Police
This group of clowns are not serious at all. You have the western security network, you have OPC, you have hunters, you have vigilantes. Yet you are crying for state police.

It is a shame that Yoruba leaders can not call their son Pres. Tinubu to order.
The same Tinubu that declared state of emergency in rivers state because of insecurity.

He's now turning a blind eye on Borno state, yobe state, Katina state and sokoto state. All these states mentioned are in United state list of terrorist hub.

Yoruba One Voice Worldwide should call on
Pres. Tinubu to declare state of emergency in those states that are over run by jihadist.

Nigeria is facing jihadism and not banditry
Politics › Gani Adams Mobilises Yoruba Monarchs Against Rising Insecurity by Ironfaceman(op): 3:32pm On Jun 10
The Yoruba One Voice Worldwide has called on traditional rulers in Yorubaland to close ranks and forge a common front to tackle the surge in insecurity in the region.

The call formed part of the resolutions reached at a virtual international conference organised by the group, led by the Aare Ona Kakanfo of Yorubaland, Iba Gani Adams, which brought together Yoruba organisations, community leaders, professionals, intellectuals and cultural advocates in Nigeria and the diaspora

The South-West region has, in recent times, witnessed a surge in incidents of abductions and other forms of terrorism, with over 40 teachers and pupils of three schools in the Yawota and Ahoro-Esinle communities in Oriire Local Government Area of Oyo State still being held hostage.

In a communiqué signed by its Secretary-General, Adedokun Ademiluyi; Organising Secretary, Victoria Harley; and Publicity Secretary, Samuel Olamuyiwa, on Sunday, the group emphasised that the security of Yorubaland depends on unity of purpose and effective collaboration among stakeholders, including traditional rulers.

Speakers at the conference posited that the security situation in Yorubaland had deteriorated significantly in recent years, with increasing incidents of kidnapping, banditry, violent crimes, killings and attacks on communities, and called for urgent action.

The communiqué read, “The conference advises traditional rulers to eschew their differences, close ranks and forge a common front in the fight against insecurity in Yorubaland.

“The future security of Yorubaland depends on unity of purpose, effective collaboration among stakeholders, community participation and the adoption of decentralised policing structures capable of responding to local realities.”
The conference stressed the need for collective action, strategic partnerships and sustained commitment for Yorubaland to overcome the current security challenges and restore peace, progress and prosperity across the region.


The participants demanded the collaboration of the Federal Government, South-West governors, security agencies, traditional institutions and community leaders to ensure the urgent release of the abducted schoolchildren and adopt proactive measures to prevent a deterioration of the security situation in the zone.


They noted that the recent escalation of insecurity stemmed from the failure of government, security agencies and other stakeholders to heed early warnings and intelligence reports about the gradual infiltration of Yorubaland by bandits and others with criminal intent.

“The existing centralised policing structure has demonstrated limitations in effectively responding to local security challenges and emerging threats.

“Early warnings and intelligence reports regarding the gradual infiltration of bandits into Yorubaland were not given adequate attention by relevant authorities, thereby allowing criminal networks to strengthen their operations.

“Community-based security groups possess valuable local intelligence, grassroots networks and operational experience that can complement government security efforts,” the communiqué further read.

According to them, the Oyo attack underscored the fact that communities across Yorubaland remain vulnerable due to inadequate security presence, difficult terrain, porous borders, isolated settlements and limited emergency response capacity

“The coordinated attack on schools in Oyo confirmed that the threat has now fully spread to the South-West region, which was previously considered relatively safer.

“Understanding the changing face of insecurity in Yorubaland requires examining both traditional and emerging threats, their root causes and the collaborative strategies needed to ensure sustainable peace, security and development across the region.

“This grisly picture of growing insecurity ravaging Yorubaland and South-West Nigeria demands urgent strategic attention and action,” the communiqué read.

The group reiterated calls for the establishment of state police and local government police, just as it urged President Bola Tinubu and the National Assembly to hasten legislative action towards providing a constitutional framework for decentralised policing in Nigeria.

The communiqué also read, “The conference strongly condemns the growing wave of insecurity, kidnappings, banditry, terrorism and violent crimes threatening the peace, stability and development of Yorubaland.

“It renews the demand for the establishment of State Police and Local Government Police as part of broader constitutional and security reforms necessary for effective grassroots policing and intelligence gathering.

“It urges President Bola Ahmed Tinubu, the National Assembly and relevant stakeholders to accelerate legislative actions that will provide a constitutional framework for decentralised policing across Nigeria.”


Despite the call for action by the government and stakeholders, the YOV also stressed the importance of community vigilance by residents to support security agencies.

This was as it called for a bottom-up approach to intelligence gathering to mitigate security challenges in Yorubaland.

“We recommend institutional engagement with the South-West Security Stakeholders’ Group and other credible grassroots security networks for intelligence sharing, surveillance and coordinated security operations.

“We also advocate increased investment in rural security infrastructure, including improved road access, communication systems, surveillance technology and rapid response mechanisms.

“We call on all Yoruba people, irrespective of political affiliation, religion or social status, to unite in safeguarding their communities and supporting legitimate security initiatives. We also encourage continuous public enlightenment and community vigilance as essential tools in preventing criminal infiltration and strengthening collective security,” the communiqué read.

Earlier, Maj. Gen. Ishola Williams (retd.) delivered the keynote address on issues of governance, security reforms and democratic accountability, which set the tone for the conference.

The conference also had other participants, including opinion and community leaders, intelligentsia, security experts, professionals, entrepreneurs, workers, scholars, students, media practitioners and stakeholders from within and outside Nigeria.
https://punchng.com/gani-adams-mobilises-yoruba-monarchs-against-rising-insecurity/

Celebrities › Re: BNXN Relocates To The US, Says "Lagos, More Expensive Than US" by Ironfaceman(m): 1:04pm On Jun 10
Not only in Lagos. All state in this place called Nigeria.
Politics › Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Ironfaceman(op): 10:22pm On Jun 09
grin grin that your data boy has lost his mind. Record of Tinubu’s borrowing is not hidden.

Let me school you. Type how many times Tinubu has borrowed money and see for yourself.


benardtotti:
I would have answered you,but this guy onX has done a good job of schooling you and your fraud of a candidate. grin

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