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FG Summons Dangote, BUA Over Rising Cost Of Cement - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG Summons Dangote, BUA Over Rising Cost Of Cement (35508 Views)

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Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Skillsnigeria: 2:53pm On Feb 17
grin
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by ovie8200: 2:54pm On Feb 17
alsudan:
Ebola and his people should first summon themselves over the fallen Naira

You people should stop worrying about falling Naira. South Korea is one of the best and richest country in the world. $1.00 is equally 1,333 won. You don't see them complaing about their exchange rate. Why because they have strong economy. Nigeria has a bad leader that's why things are not working. All those small arabic countries has stronger currency than US dollar, pound and Euro, but wouldn't see them complain like the money is the reason things are hard and expensive. Nigerian has nothing working that's why.

6 Likes 1 Share

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Centcanada: 2:55pm On Feb 17
Useless leaders ❌. Medicine after death! As if they are not getting their percentage from dangote and co

2 Likes

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Dennisochampa: 2:56pm On Feb 17
Dangote especially is like the rat blowing a man and chewing him....

What reason does he have to increase cement by more than 100 percent??
Na Nigerian government I blame Sha
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Omalicious1: 2:56pm On Feb 17
peekspot:

https://www.thecable.ng/fg-summons-dangote-bua-over-rising-cost-of-cement/amp

I don't know why I just feel that nothing positive would come out and the end of this meeting...
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by bentenny(m): 2:59pm On Feb 17
As much as I hate and disapprove of the humongous monopoly from these two companies which have affected pricing of cement,I would also like to state here that doing business in Nigeria is no cakewalk!
An average businessman or woman will have to contend with

1.No electricity
2.Multiple taxation
3.High transport cost as a result of imported pms or diesel
4.Insecurity
5.Inability to properly access FX to purchase equipments abroad etc

All these limitations are added as part of their production cost which will likely lead to a spike in price!

Even when BUA decided to reduce his price from 5k to 3k500,when it got to distant states in the south,the pricing increased because the trucks moving these products run on diesel and we all know diesel is #1300-1400!

I understand that these two cement companies are so far taking advantage of their monopoly in the country but there are also issues which I have listed that need to be solved before we can outrightly blame them!

4 Likes 1 Share

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by brightovio007(m): 3:00pm On Feb 17
Extreme capitalism, if this country eventually experience 1967 to 1970, it will be between N and S. Red bottom activation mood 97%
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by SMUAG(m): 3:01pm On Feb 17
insidelife22:
Allow other investors in the cement industry for competitions, and watch demand and supply determine the cost.
Allowing other investors to go into cement production might not still tackle the sudden hyper-inflation we are experiencing (now), because investors are profit-driven no matter how you tend to look at it. This people are mostly under one association/union that the new comers will definitely join and their motto of profit oriented will not change... Meaning the Dangotes and the BUAs can easily persuade those new investors to align with their goal.
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Whalis: 3:01pm On Feb 17
yewit37486:


Importation with the current dollar rate and unpredictable currency fluctuation? Likely a worse option.
Cement in Pakistan is less than 7000.
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Xox1945(m): 3:04pm On Feb 17
Corruption summons corruption useless thieves

1 Like

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by lexy2014: 3:08pm On Feb 17
Tjra:

Compare your comment with those of the previous intelligent posters. Shameful right? undecided

what is wrong with what he said?
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by DOM7: 3:10pm On Feb 17
Who will summon the federal government for the falling naira, security and I other negative things happening to the us? Let these people be abeg hold your CBN governor, finance Minister and trade minister all of them are clueless.

2 Likes

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by TTPAAR(m): 3:11pm On Feb 17
Like u guys can command them to return it to 4500!

See there is no problem with NIGERIA, see the only problem with NIGERIA is that there is problem.

What were u thinking
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by bluefilm: 3:12pm On Feb 17
Ebola Virus
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by inoki247: 3:13pm On Feb 17
STEWpid:
Chai..


Time for other cement companies like Sokoto cement to start selling and gain prominence!!

Many people are already buying the cement as if nothing happened.


Even when it gets to N20,000, some people will still buy.


The effects are only dawning on Mekunus.



Lol Sokoto Cement is Bua....



Check any Sokoto Cement sack and you will see Bua dere I use to buy it...
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by sukar886: 3:13pm On Feb 17
Dangote na thief, he is one of our problem in this country, since her started manufacturing, sugar, salt, spagetti etc, there price started sky rocketting

2 Likes 1 Share

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Igodan76: 3:25pm On Feb 17
We should start importing to drive down the prices


peekspot:

https://www.thecable.ng/fg-summons-dangote-bua-over-rising-cost-of-cement/amp
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by tunjilana: 3:27pm On Feb 17
insidelife22:
Allow other investors in the cement industry for competitions, and watch demand and supply determine the cost.

Investors o....not importers....
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by tunjilana: 3:28pm On Feb 17
Igodan76:
We should start importing to drive down the prices



That is like using the wrong medicine...

Importing will kill the sector and kill jobs...

Got should encourage more people who want to set up cement factories or better still nationalise the sector

1 Like

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Eriokanmi: 3:29pm On Feb 17
Richtaiwo:
No need inviting the two greedy capitalists leveraging on high cost to feast on Nigerians. Just find a way of reducing the hardship. Things will naturally take proper shape. Inviting them is just like forcing or begging them.
Guy, don't blame them. They can't bag only grinded limestone without adding the chemicals that make it coagulate. They import those chemicals, they buy at same 1,650 naira to a dollar rate.

Local industries are in a great mess under Tinubu's bad economic policy. I predicted that a bad of cement would be sold for 9k a few weeks ago and today, not only is it a reality, the price is also going beyond what was predicted cos fx rate has never stopped going up.

1 Like

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Oyida1986: 3:29pm On Feb 17
Giv us update from d meeting
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by henryudgrt(m): 3:29pm On Feb 17
The Chicago Accountant doesn't believe the effect of his own monetary policy so he results to bullying

2 Likes

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by pocom16: 3:31pm On Feb 17
Nothing will
Change


https://www.youtube.com/watch?v=jeLnro-Xw6E
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Mandate1: 3:32pm On Feb 17
chicfarmer:

The additives in cement production which may be imported is very minimal. Naira devaluation cannot be responsible for over 120% price increment for cement. The major raw material for cement is locally and abundantly available.
This cement cabal need to be checked before they get out of hand.
they are taking a learning for everything from the govt. Tinubu came in and increased everything in Nigeria. For you, it's only raw materials that leads to cost increment. These companies pay staff, you don't expect them to pay 2022 salary rate to staff on 2024 with the accompanied inflation. The cost of diesel has increased too, even electricity is on the high side. Blame the govt and not the businesses.

If businesses unilaterally increased price without an increase in cost of production, then we will single them out for blame, not the other way round.

2 Likes

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Eriokanmi: 3:32pm On Feb 17
opera1:
I don't just understand what lead to the increase coz we have all the raw materials here. It's now 12k per bag in some places.

100 bags is ₦1m. How poor man wan take get house like this?
We don't have all the raw materials. We only have the stones which they grind. We don't have the chemicals which make the grinded stones solidify when it's mixed with water. They import those chemicals at 1,650 naira to a dollar rate.

Or do you think once they grind the stones, they'd just bag them and sell?

2 Likes

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Anunakeeh: 3:32pm On Feb 17
stacyadams:
grin
FG summons
FG pleads
FG condems


Zero plans grin

You dey mind them wereeeys.
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by pocom16: 3:32pm On Feb 17
tunjilana:


That is like using the wrong medicine...

Importing will kill the sector and kill jobs...

Got should encourage more people who want to set up cement factories or better still nationalise the sector
Lol..
Who will come and set up cement plant with N1700 to a dollar..
Diesel over 1k per litre.. no light..

And expect to sell for 5k grin grin grin

Dey play

3 Likes

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by constant1960: 3:32pm On Feb 17
We have to reduce the purchasing power of the people in other to slow down the economy
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Honestey: 3:35pm On Feb 17
Remove Tinubu and put hausa man in presidency and watch the prices of cement and noodles, semo etc come down. Nigeria belongs to Hausa and unless their person is in presidential villa they will make it ungovernable
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by IamANigerianMan: 3:38pm On Feb 17
peekspot:

https://www.thecable.ng/fg-summons-dangote-bua-over-rising-cost-of-cement/amp
Useless government revoke their lience , how can a price of a product increase from N4,000 to N10,000 within a week.
Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by Mandate1: 3:39pm On Feb 17
chicfarmer:


The government needs to read the riot act to these cement boys. If importing cement is far cheaper than locally producing it, then the government may well call their bluff if they want to shut down. Compare the millions of artisans who would be left jobless because of the prohibitive prices of cement to the few thousands these cement manufacturers employ. Do the maths and see which is better.

Of course we don't want factories to shut down but if they become cogs in the nation's wheel of progress then they may pay the price.
I can assure you that the construction industry is right now comatose because of this cement price crisis. Think of the Engineers, plumbers, painters, carpenters, iron benders, aluminium artisans, unskilled labourers etc who are stranded at home with no means of income. This cement issue deserves the strongest direct response from the government without caring whose ox is gored!
do you know how much these companies spend in maintaining their diesel powered gen? Do dey have special market for their staff? Salary increment for staff due to economic downturn leads to all des increment u see. A govt that increased the price of petrol, an essential commodity from 160-600 can't blame private business for increasing theirs.

2 Likes

Re: FG Summons Dangote, BUA Over Rising Cost Of Cement by yewit37486: 3:40pm On Feb 17
Whalis:

Cement in Pakistan is less than 7000.

7000 of which currency?

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