₦airaland Forum

OasisX:
Breaking Bad News;

President Biden Announces Presidential Delegation to the Federal Republic of Nigeria to Attend the Inauguration of His Excellency Bola Ahmed Tinubu.

President Joseph R. Biden, Jr. today announced the designation of a Presidential Delegation to attend the Inauguration of His Excellency Bola Ahmed Tinubu on May 29, 2023, in Abuja, Nigeria.
 

https://www.whitehouse.gov/briefing-room/statements-releases/2023/05/22/president-biden-announces-presidential-delegation-to-the-federal-republic-of-nigeria-to-attend-the-inauguration-of-his-excellency-bola-ahmed-tinubu/

Be like Joe Biden no read any letter oo

iamoyindamola:
No na, what about the 200/300 the drivers put?
You can’t tell me dangote doesn’t know about this

Well according to what Blueray explained. He knows.

liveLongNprospa:
Miracle nor dey tire Jesus.

Economics inside this country dey turn head.

Where Dangote see money pay back 70% when refinery never start?

Shey him no get any other business wey Dey bring in money for him again?

BlueRayDick:
Can u please share the interview u are referring to here ?

I doubt Dangote is saying the truth if he indeed claimed wholsesalers put almost 50% margin on his products when it gets to their hands.

For starters I know Dangote stopped carrying his products a long time ago. He already hedged that risk by allowing distributors own trucks registered under his franchise to carry products from his depot in Obajana to any part of the country . Most times when those trucks have accidents and people burn them down in the hope of hurting Dangote’s business , they don’t know they are destroying the business of their kinsmen who own the trucks and have it registered under Dangote’s franchise .

For example the risk involved in transporting products from Obajana to Kebbi state is transferred to the wholesaler who is carrying the product ; risks such as paying all security men on the road , escaping robbers in the road and even risk of having ur truck burnt down when an untoward event happens .

I remember a case in 2021 when one truck killed an okada man in Obajana , the youth of the town mobilized and burnt all the trucks on queue waiting to load at the depot . ( These trucks belong to individual businessmen who keyed into Dangote’s logistics franchise and they had to beat the risk on behalf of Dangote ).

I think Dangote is being economical with the truth if he’s claiming wholesalers put as much as 50% margin on his products ex-factory works . If u have a sit-down talk with the wholesalers, u will be surprised those margins aren’t that high as Dangote make them seem .

Lastly I found it very very hard to believe that an entrepreneur will assemble all the factors of production to come up with a product offering to the consumers only to have wholesalers making 50% margin on the final product . It won’t even happen in the most capitalist economies my brother .

I’ve been trying to get my hands on that interview since last night with no success. I can’t remember if it was on Twitter I saw the video or YouTube.

Look at the breakdown that iamoyindamola gave and you will see it mirror at least closely to what I said and attest to what you say also.

Dangote, lafarge and bua sells cement at almost at the same factory price, it is the additional cost and profit margins of distributors that makes Dangote cement more expensive than the others.

greypencils:
Like O, respect O, ManUtd fans don't give neither to Messi. We hate him. You are NOT a ManUtd fan, so you cant relate.

There are a lot of Man Utd fans that adores Messi. Just take a peek at the Man Utd thread and you will get your answer.

Khanben:
Go for 3 when you've been atrocious all game. Na the coach made the right call

Yes. It was the right call but AD should’ve been the one handed the ball not Lebron. See the way they chased him down to the rim.

donlittle25:
Gordon and Murray. Them pursue lebron like thief

😂😂😂

donlittle25:
Wow. I see the Lakers hitting a three. Go big or go home

They didn’t even go for a three.

Omo them sweep Lakers oo 😂

Lakers should win this.

liveLongNprospa:
You sure about this thing you talk so?
Coz I worked with lafarge and this your story get as e be

Well if you have contrary information, you can share with us.

iamoyindamola:
No be so, we deal on cement too
If dangote supply at 1700 for example those truck drivers will add their own 200/300 per bag or else they will take it to another dealer.
We can sell 2600 or 2700 how is that 50%

You too do the calculation now.

If it’s 1700 from Dangote factory and it retails at 2600 or 2700 from retailers, that’s a 900-1k difference from factory to consumers. That’s basically 50% margin. I’m not sure Dangote himself makes that high per bag.

iamoyindamola:
The only 2 cement companies in Lagos are lafarge and dangote,bua is abuja
By the middle men are you saying the wholesalers

Yes. The margin the wholesalers put on those cements is almost 50%.

There’s this Dangote interview I watched where he lamented that the retailers are making more profits than he is making on each bags

izzou:
[color=royalblue]I did my IT in Dangote Flour Mills and at that time, he had already sold it to Tiger Foods of South Africa

I don't know if the mill is existing now

But we still have other mills that are smaller than him, littered all over Apapa[/color]

All those other small small mills, how many people know them? 😂

What’s percentage of the market share do they command compared to Honeywell?

Even as big as Honeywell is, did their noodles stand indomie?

izzou:
[color=royalblue]You just asked if it would be cheaper if it was open to imports naa

I give Dangote his accolades too. I am not criticising him. He has helped this country, but then, it is what it is.

Basically every business he triumphs has no competition. The ones he met competition, he left

He sold his flour mills
He had noodles. He sold it to Multipro
He had Bottled water (Mowa). He abandoned it.

Like i said, the cement sector is locked. When it starts to get a lot of investors, you may eventually find out it is cheaper [/color]

All these businesses you mentioned are business he ventured into, didn’t succeed and he exited.

How many flour mills company do we have in the country?

Even the noodles, Nigerians call all noodles indomie. That’s to tell you how huge Indomie was.

Dangote Spaghetti is still one of the most sold Spaghetti in the country till date but yet he couldn’t cut it in the noodles business.

It’s not all business that one can compete in, no matter how big the brand is.

iamoyindamola:
I have my fear in this too
Dangote products are normally expensive or on par with other brands in price

Will it surprise you if I tell you that it’s middlemen that makes Dangote cement expensive compared to other products?

Dangote cement retails at almost the same price with all other cements but because Dangote brand is popular, those who are buying from factory and selling to retailers are the one making the cement expensive.

hopefulLandlord:
forgive me but I can't seem to figure out if you're agreeing with me or not

Oh sorry I’m disagreeing with you. That we are no longer importing refined fuel means that no more landing cost charges which in most times determine the price of fuel.

It means we can now also remove fuel subsidy since there will be nothing to subsidies anymore.

NNPC will also be the “sole supplier” of crude to the refinery.

The price of diesel, kerosene and Jet A1 will be impacted positively also.

The cost of fertilizers also will be impacted positively.

The multiplier effect of the refinery is huge and hopefully it operate in full capacity with no sabotage.

hopefulLandlord:
If we're to look at effect of other things Dangote took over in the past like Cement etc then it's certain it won't reduce cost of production, neither would it reduce price of PMS and other petroleum products the refinery would be churning out, it would rather increase exponentially the prices of petroleum products but it would most likely be gradual and Nigerians would be poorer for it.

Of course not. There’s a reason why NNPC has a 20% stake in the business and they are the one that will be supplying the refinery crude.

iamoyindamola:
It's a good thing to have a refinery, the question we have is will it reduce our cost of production and reduce the price of petrol for the final consumers
That's the koko
Una too they hurry do copy and paste oga oo

Yes it will. It will first eliminate landing and storage cost because Dangote refinery has over 1.4bn storage facilities.

Rivers APC has withdrawn its suit against PDP in the Governorship Election Tribunal.

Nostradamus1:
He is searching for his beloved who is a resident member of this thread.

Do I know who this mail is for? 😒

BlueRayDick:
Cashout things

General Oluchi wan buy Benz on top paid subscribers’ head 🤣

Last week one was asking for donation to initiate a class action suit against INEC.

Anybody wey no wan use him head, those guys go help them use ham.

I don laugh tire. 😂

Honlucas:
What if Lakers do a comeback 💜💛

I have a dream 😂

izzou:
[color=royalblue]I really can't picture how it would look like.

What i heard before was that truck trying to access the refinery can only go through from Epe.
No tanker would be given that chance of using the island to access there.

Just like how trailers are banned from using 3MB[/color]

Yes. It’s the Eleko - Epe road.

The proposed 4th mainland bridge is also meant to link to the Lekki regional road. I don’t know if tankers will be banned on that one though.

liveLongNprospa:
I think from that side down to the refinery everybody is on their own unless larride missed other projects

Nah. There are lots of road projects along that corridor

izzou:
[color=royalblue]This one cannot concern refinery naa.

The refinery is another 20km from VGC.

Abi na me no understand wetin dey happen[/color]

You are right. You do know that you can get to the free trade zone through the Lekki - Epe expressway. They are building an highway Magbon Alade highway to the Lekki - Epe expressway. I think that’s why they are building the regional road also as an alternative to ease traffic on that route.

There’s also Eleko - Epe road been constructed. 6 lane road, the phase 1 has been completed and commissioned.

izzou:
[color=royalblue]Which road are you people talking about?

Starts from where?[/color]

Lekki Regional Road.

I think it starts from Freedom way and terminate at VGC.

liveLongNprospa:
Okay.. The road doesn't go through lekki ba? Coz that would be terrible

The road is an alternative to the Lekki - Epe expressway.

There’s also the Eleko - Epe road been constructed. That road will be connected to Ondo State

liveLongNprospa:
What's the projected time of completion in your own estimation as against when the refinery begins operating in July also when you combine that with the lekki port operating too

That road should be completed already and commissioned. Started since 2021 or so. I’ll check to see if I can get an update on the road.

liveLongNprospa:
Okay thank you🕺.

Next na to pray against the apapa situation along that lekki corridor.

I nor dey track the road construction situation.

Larride you get idea wetin currently dey available to help with the incoming traffic from tankers?

There’s a road currently being constructed there with a dedicated truck lane along that corridor.

liveLongNprospa:
Lmao I didn't.
I'm just patient with stretching issues to the extreme with you guys while still maintaining my original position.
Whoever gets lost inside me stretching is their own cup of tea.
I'll only tell you to read up😌

😂😂😂

It’s not my first time with you.

Goodluck bro.