₦airaland Forum

This is nothing but exploitation and milking Nigerians of their hard earned money. Something should be done about this cement price,that's why Monopoly is very dangerous. I supported him in the Ahmed Farouk saga. But this excuse is just lame and his cement price makes him an unpatriotic and selfish individual. But giving back crumps from the bakeries he's milking off Nigerians. If there was importation,cement would be much cheaper. He's making life difficult for Nigerians with this high price of cement. What he's doing is what the Mafias used to to do in America and Sicily

To build in Nigeria now nobi small thing ohh

Peter Obi should have channeled all the money he's been dolling out to people for cement factory and refinery.But I know blame the idiot, nobody wey go see stolen money wey no go use am anyhow.

yesloaded:
He's not paying such excessive taxes in other countries. He's paying about 50% as tax in Nigeria. Let me give you an hint on how Nigeria system is killing business, go and import goods from China and ship it through sea then you will realize the cost of clearing a container in Nigeria is much more higher than total cost of freight + customs charges in China. Imagine a situation whereby cost of clearing at the port in Nigeria is higher than cost of freight & clearing at china port. We have been cheated so much in this country

this is so bad. Most everything be taxed in this country. Well, thanks for being schooled.

Dangote should not be blamed. The colonial system of governance operations inherited from the British should be stopped. We need to device our own system of governance operations.

dangote is trying to be clever by half and his argument holds no water.

yemmit90:
Government should also allow importation of cheap cement, so that he an concentrate on selling outside the country.

honestly government is our problem, they are anti people, I wonder why phones from China is not more expensive in China than Nigeria using same logic,or Toyota more expensive in Japan than in Nigeria using same logic, the Nigerian government sees the people as cash cow and are not concerned about their welfare but what they can amass from the people
Even look at the fuel apart from saving from subsidy, the government is making additional 44.34% on every litre of petrol sold by dangote, that is an additional burden on the people, unnecessary burden

Dangote nah real cry baby sha, do not underestimate this man he's a big crook. From exposing the minister to now using this sympathy tone to seem like the victim, he's a real class act.

fabolouz1:
dangote is trying to be clever by half and his argument holds no water.

swears the man is really manipulative. He and vdm i don't see a difference, he just said a whole bunch of nothing, truely these rich men are more gangster than the streets.

sonofthunder:
Truth is it will be great if prices of cement can come down significantly. The recent cost of housing from like last year hasn't been a joke for both renters and builders.

I personally fell it can still be cheaper but "capitalism" always takes care of "itself" first.

I also feel that fuel from the refineries should be around #500/litre but we won't get that unless there's a significant drop in prices internationally, or our production surpasses the need of the west African market

..if the naira appreciate, strengthen and have value against the dollars..the price of fuel will go down and reduce..Like if the exchange rate is like from 500 naira to a dollar ..the price of fuel will go down to like 250 naira to a litre ..

Freshandfitpod:
By the time tinubu finish dealing with this country everybody eye go don clear. Tinubu plan is to end Nigeria and sell it on temu before 2027.

. . For How Much ? There are Interested buyers .

30% income tax is too much... and why won't you expect the price of his cement to be expensive

iamrealdeji:
This is nothing but exploitation and milking Nigerians of their hard earned money. Something should be done about this cement price,that's why Monopoly is very dangerous. I supported him in the Ahmed Farouk saga. But this excuse is just lame and his cement price makes him an unpatriotic and selfish individual. But giving back crumps from the bakeries he's milking off Nigerians. If there was importation,cement would be much cheaper. He's making life difficult for Nigerians with this high price of cement

He is not selfish. He is owing banks. If he sells at market rate, the revenue will drop by over fifty percent. Even the valuation of the company will drop drastically. In reality, he does not have the financial muscle to be the major shareholder of the company. That is the crux of the matter

He is paying up to 50% on tax alone.....then add lack of constant electricity light supply, high costs of fuel , diesel, bad roads, devaluation of the naira , high running costs of generator to power and operate his cement industry . .with this high costs of operating and running his cement business...then why won't his cement be expensive.. federal government should provide a conducive environment for businesses companies industries to thrive. not just to be collecting high tax or multiple taxation

NwokoloOwa:
Dangote is talking nonsense. Complete jazz. But it's still from this heavily taxed domestic market that you became Africa's richest man.

There is always something to hold when capitalists want to deceive and lie. Now it is no more lack of power and electricity. There was a time that was the mantra, no power, no electricity. Now it's taxes.

Haba.

Learn to read and comprehend

Bluntemperor:
-But What Of Other Billionaires In Nigeria?
-What have they been Contributing - rather-they( some of them Not All)
-have been Looting Our FOREX- to Other Foreign Countries- Creating Jobs for Other Countries Youths and their Masses- In Dubai, London, European Countries, USA,etc.
Nigeria Will Surely Rise!

All can't be in the same line of business

And how many billionaires do we actually have that made their fortunes from pure business?

yemmit90:
Government should also allow importation of cheap cement, so that he an concentrate on selling outside the country.

Good idea.. but the cabals won't make it possible.

Two things here.

Finally he has admitted there is a price discrepancy between his products across borders. Not new. I think the oil wars have resulted in a new level of scrutiny by the public not only of the government but of Dangote himself. His outbursts have turned the search lights firmly on his business practices which is a good thing.

Secondly this has brought to the fore the whole issue of the economy and governance. The impact of taxation on the citizen, the lack of accountability, government spending efficiency and the failure of government to industrialize this country.

For one. If there were a hundred Dangotes', a thousand Dangotes' the revenue burden on the few key industrialists would be significantly less and result in their cheaper market offerings.

So exactly what is the government doing with the enormous taxes generated from Dangote. I for one have a philosophy that a farmer sells his produce primarily to raise resources for the 'improvement' of his business.

Government should be using Dangote's taxes primarily to industrialize this country. To create the physical environment to better Dangote's businesses first then spur allied industries.

All these shenanigans is because you guys put Ibeto out of the cement business

Freshandfitpod:
By the time tinubu finish dealing with this country everybody eye go don clear. Tinubu plan is to end Nigeria and sell it on temu before 2027.

We are not surprised at all.

A bag of 50kg cement in South Africa goes for between R80 - 100R. That’s less than N2000.

Make it make sense.

Fake monopoly billionaire

What he just said isn't new!

Take for instance the bakery industry....a bakery company pays more than 30 different taxes and yet some ignorant citizens keep wondering why the price of bread keep going high or why there is preference for imported bakery products instead of the locally made ones!

Doing business locally in Nigeria is not profitable and depressing as an average manufacturer has to contend with epileptic power supply, insecurity,low purchasing power of an average consumer, insecurity,multiplicity of taxes,high transport cost etc

Ewedegubbler:
A bag of 50kg cement in South Africa goes for between R80 - 100R. That’s less than N2000.

Make it make sense.

Fake monopoly billionaire

That's the point he is trying to make!
Too many taxes to pay here in Nigeria!

Willie2015:
. U will understand better when u start a business.. More than 50 percent collapse within one year of start up, 80 to 95 percent collapse within the first five years in Nigeria. Too many issues u face as a biz owner...tax is just one out many..

how many businesses have you started that has collapsed?,if you have none sincerely,just hibernate

Dangote is simply using his power and connection to exploit Nigerians.
If you make more money exporting, why not concentrate on exporting and allow others to import. Farouk resigned because he can't fight dangote. Nigerians cement is one of the overpriced locally. And soon same will be to refined products.

DrAda:
He really is trying to brainwash us all. The above explanation makes zero sense.

Don't know how some of you guys are thinking sometimes, someone made a bold complaint against the government and you are defending them without hearing from the government spoke persons.. are you the president of Nigeria or governor of any state that he have cement plant? I think we need to be guided here....

Freshandfitpod:
By the time tinubu finish dealing with this country everybody eye go don clear. Tinubu plan is to end Nigeria and sell it on temu before 2027.

What a lazy man’s excuse, Tinubu indeed.

okoloto:
Dangote is simply using his power and connection to exploit Nigerians.
If you make more money exporting, why not concentrate on exporting and allow others to import. Farouk resigned because he can't fight dangote. Nigerians cement is one of the overpriced locally. And soon same will be to refined products.

Some people just sit on the wall, & assume nonsense in their fickle minded imagination.

Lanretoye:
how many businesses have you started that has collapsed?,if you have none sincerely,just hibernate

Go and check my past mails on nairaland...its all there...am now a portfolio investor..

Akwara25:
Don't know how some of you guys are thinking sometimes, someone made a bold complaint against the government and you are defending them without hearing from the government spoke persons.. are you the president of Nigeria or governor of any state that he have cement plant? I think we need to be guided here....

Not sure I understand you. Who do you think I'm defending because it appears that you are getting it all wrong.

This is what happens when policy makers don't consider the common man... Basic politics without checks and balances.