Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi - Business (3) - Nairaland
Nairaland Forum › Nairaland General › Business › Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi (43382 Views)
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Nobody: 2:47pm On Oct 11, 2017 |
Once he dies, his sheeps will scatter.... |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Habyz(m): 2:48pm On Oct 11, 2017 |
cristianisraeli:To you deluded mind |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by gbishman: 2:50pm On Oct 11, 2017 |
I bet you know that after government Dangote is the largest employer of labour. So rather than paint him black he should be praised, there is no difference between him and Trump he only took advantage of the available business laws shekena. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by zoedew: 2:52pm On Oct 11, 2017 |
nairametrics:Let go. He has his strategy in place and is making his money in a clean way. You may as well go get yourself a strategy for breakthrough. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Habyz(m): 2:52pm On Oct 11, 2017 |
cristianisraeli:If standing up means war to your delusional mind,the same war that claimed thousands of life that's just unfortunate. What I meant by standing up is doing something to make your life and the people around you better, by competing with Mr Dangote. No I'm not a northern Muslim. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by chloride6: 2:52pm On Oct 11, 2017 |
wickyyolo:Real Madrid is actually bad for the la liga. Check how Premirship clubs share their money, and you see why the EPL will remind the number 1 position for a long time. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Habyz(m): 2:52pm On Oct 11, 2017 |
cristianisraeli:If standing up means war to your delusional mind,the same war that claimed thousands of life that's just unfortunate. What I meant by standing up is doing something to make your life and the people around you better, by competing with Mr Dangote if possible. No I'm not a northern Muslim. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by chloride6: 2:53pm On Oct 11, 2017 |
Ofemmanu1:How can you use exploit and makes lives better in the same sentence. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by darqly(m): 2:54pm On Oct 11, 2017 |
obua:All the points you raised were actually addressed in the article. The margin on his cement in Nigeria is almost 30% higher than GLOBAL margins. Let that sink in. He enjoys tax holidays and waivers but found a way to renew his pioneer status soon as it's expiring. He doesn't offer Nigerians any subsidy on his cement, doesn't support our housing policy in any way, cannot sell his cement internationally at the price he offers us and has effectively created a monopoly using the FGN as proxy. Meanwhile, Nigeria is his biggest market! Given these advantages, even you can sell cement and become a billionaire. Dangote shouldn't be castigated because he's an African champion? What happened to corporate governance, and fairness, and forthrightness? Should we celebrate and empower him to the detriment of 180M citizens? The article is factual, and he will admit to enjoying these benefits and more from governments past and present. The man should pay tax at least, since he's fleecing Nigeria per cement bag sold. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by 400billionman: 2:56pm On Oct 11, 2017*. Modified: 3:17pm On Oct 11, 2017 |
obua:Better shut your mouth when topics arise that you know nothing about ? Cement today is N2,500 per bag since January 2017, yet distributors of Dangote cement don't even get N100 per bag as margin. What sort of distribution chain is that ? A PDP govt always made sure that cement price was as low as N1,400 or N1,500 in 2014 and 2015. Can you tell me why a govt in power today that cares about consumers cannot ask a monopolist to tow down on price to assuage the sufferings of the masses in an almost comatose sector ? Are we all born to suffer and smile ? Anyway, what do you know ? |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by signz: 2:56pm On Oct 11, 2017 |
"[/b]A Bloomberg Intelligence report showed average global cement profit (EBITDA) margins were 17.2% in 2015, but Dangote Cement reported a margin of 42.3% in the same year[b]". I got this from the original post. Can you see Dangote's margin? That ďude is a vampire. Have we asked ourselves why Dangote cement hasn't been so successful elsewhere apart from Nigeria? Dangote will finish his refinery, FG will reduce fuel importation and we'll be lucky to buy a litre of fuel 350 naira. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by handofGod1(m): 2:56pm On Oct 11, 2017 |
hmmm, the matter tire me o. Baba God I beg lift me up above my enemies. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by darqly(m): 2:57pm On Oct 11, 2017 |
chloride6: ![]() |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Nobody: 2:58pm On Oct 11, 2017 |
obua:You are blind young man.. Such a fucking blind man. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Ofemmanu1: 2:59pm On Oct 11, 2017 |
chloride6:The word "Exploit" could either be a Noun or a Verb, I'm talking bout the former. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by maisauki: 3:01pm On Oct 11, 2017 |
thank you sir, we've heard and noticed you, but next time try to invest in all areas d man has invested before pointin fingers or perhaps you are a sponsored agent of one of d ppl that were unable to stand dangote's business acumen by d way, business moguls will always want to monopolise, it's in human nature, and government can't stop it cos ppl in government even including d president are meant/there to protect d interest of these business ppl...pls don't quote america for me cos they monopolise more than any other country cos if not they won't shout at nk not to go nuclear |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by darqly(m): 3:02pm On Oct 11, 2017 |
signz:Spot on! People didn't bother to read between the lines of that article to see that he'll corner the refined petroleum products market with the same tactics and transfer the burden to us. Instead 'He employs thousands, how many do you employ' rant. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Ofemmanu1: 3:03pm On Oct 11, 2017 |
chloride6:The word "Exploit" could be a Noun or a verb, I'm talking based on the former. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Nobody: 3:05pm On Oct 11, 2017 |
DIKEnaWAR:na lie? |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by 400billionman: 3:08pm On Oct 11, 2017*. Modified: 9:00am On Oct 18, 2017 |
Obi1kenobi:Its almost dead. Referring to the construction sector. Many people want to build but they cannot cause of price.. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by chloride6: 3:15pm On Oct 11, 2017 |
Ofemmanu1:Exploit as used in that context is definitely a verb, sir. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Nobody: 3:15pm On Oct 11, 2017 |
signz:dude, what matters is that Dangote is a son of the soil. And as such, we should fully support him. Would you rather a foreigner controls our economy.. look at what South African companies are doing with mtn and dstv.. my prayer is that people like you; wake up..do you know why The USA is able to sanction countries? Part of it is because they have the biggest companies in the world.. why do you think that china makes laws that will keep their indigenous companies on top..be wise my brother..if Dangote is a Nigerian, he has my 100% surpport. Period!! I do not give a shit what part of Nigeria he comes from..!!! Coming from an Igbo man!!!! |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by arsenal33: 3:17pm On Oct 11, 2017 |
cristianisraeli:did your hero not know about it? instead he was drowning shepe |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Nobody: 3:17pm On Oct 11, 2017 |
MrMcJay:what u just said is the true definition of Irony |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by cristianisraeli: 3:20pm On Oct 11, 2017 |
arsenal33:dundi united boy!! |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by cristianisraeli: 3:23pm On Oct 11, 2017 |
Habyz: oh you are one of those brainwashed 5% muslims..lol..i hope you are in kwara state.lol look the only language the nigerian government understands is violence when you talk they dont listen but when you shake well..they will start calling you for peace talks so yes war was the only way the igbos could talk back then,remember they were in the defensive and did not attack first you need to read some history boy instead of carrying your almajeri plate up and down |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Spidermon: 3:24pm On Oct 11, 2017 |
surgical:Very crude and brazen form. On the day the results of the last presidential elections was announced, the way he switched locations from the incumbent's to Buhari's location is an indication of a shylock investor. I dont let it bother me tho' |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by SmartyPants(m): 3:25pm On Oct 11, 2017*. Modified: 9:25am On Jul 24, 2022 |
Okay, so something is seriously out of place in this article. The writer cannot point to one single genuine detrimental effect that Dangote has on the economy. The best takeaway from this post is that Dangote may receive more than he gives back which is no crime so long as he is actually giving back. 12 billion naira from one company alone is substantial, regardless of how much it makes. This money can achieve a lot of things in Nigeria today. As to the allegation that Dangote as a monopoly sets the price, this does not make sense when you then go ahead to say that Nigeria's cement prices are too high--ostensibly thanks to Dangote. This is simply because monopolies can only force competitors to reduce prices so contrarily, if Dangote and his competitors are selling at the same bloated level, then it means he is exerting no influence on price in the industry. Apologies for the errors, typing from phone. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Obi1kenobi(m): 3:26pm On Oct 11, 2017 |
Okwute001:When cement price is at its current ridiculous level, it affects the depressed construction industry that employs millions of Nigerians. It affects homeowners whose construction costs rise dramatically. It affects tenants who are levied with higher rents. The ridiculously low taxes Dangote has paid from trillions of naira in revenues and profits in half a decade hits the government in the pocket. The massive tax and forex waivers he was accorded under Obj, Yar Adua and GEJ have destroyed his competition giving him an insurmountable market share that means he can dictate market prices. Basically, it comes back around. Even in so-called free markets, Dangote could never have got the political patronage that has aided his ascent. He has more in common with Russian oligarchs like Abramovich who have courted the government and reaped the rewards. If I had more time on my hands than I do now in the office, I could spend all day linking critiques of his ascent from Bloomberg to Reuters to even Wikileaks, our own local media and Dangote's industry competitors that have detailed the massive boons Dangote has been granted by the government. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by sanchos9607(m): 3:30pm On Oct 11, 2017 |
This isn't limited to dangote. The retail /supermarket sector in Nigeria regularly earns over 50% margins and pay pittances in tax in spite of the norm internationally being below 10%. Let's stop making dangote (a product of the Nigerian system) a poster boy for what's wrong with Nigeria, when he never caused it, but rather exploited the system to his utmost benefit. |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by Mikeal09: 3:31pm On Oct 11, 2017 |
Nigerians... Or should I say, poor Nigerians always making noise and complainin about everything and yet doing nothing to see a change. When a pastor or imam builds a house, he expliots! The guy that was advertizing his laundry on a traffic was termed criminal. Now is Dangote. Your rant online changes nothing as in N O T H I N G! So instead of making noise, get back to work so that you can pay your bill and afford your luxuries. And also, if your father were to be in his shoes... there won't be any need for this thread, right? |
| Re: Why Aliko Dangote Is Bad For Nigeria - Feyi Fawehinmi by wickyyolo: 3:34pm On Oct 11, 2017 |
chloride6:Stop ranting. Real Madrid influence has not stopped other clubs from existing. |
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