₦airaland Forum

uruba23:
And you belong where?

In America, where I live. Enjoy your Nigeria, stupid monkey. You animals have the country you deserve.

uruba23:
I don't think it has anything to do with low production capacity after all Alhaji has plants in other countries...you keep talking about profit percentage but do you know how much profit Apple makes per Iphone 12 .Every one has a pricing template to protect it's economy.Stop looking at the percentage look at the derivatives in terms of FDI buying up stocks and increasing the valuation of the company which is also good for the country .Today you know Apple is worth more that our reserves 20 times if not more.

What,s going on here

Aconomist you are on point with line of arguement backed with stats. However, there is need to communicate without insults, it tends to diminish the important lessons from this serious discussion.

layzie:
Aconomist you are on point with line of arguement backed with stats. However, there is need to communicate without insults, it tends to diminish the important lessons from this serious discussion.

the guy deserve allvthe insult he got.. Imagine his line of arguement.. Comparing cement to a luxury device.. Chaii

Aconomist:
The Chairman and Founder of the BUA Group, Alhaji Abdulsamad Rabiu, has called for the liberalisation of Nigeria’s cement policy to boost production and subsequently crash the price of the commodity. Rabiu said he advised the federal government to open up the industry to allow for more players, expressing the belief that such would help to crash the price of cement in the country.

He states quote:

"Even though this cement policy is a good one, it must be done in such a way that a lot of players must come in and participate. There is no point in making a policy that only one, two, or three people are able to benefit from that policy. That does not make sense. I am benefiting from this policy, but I know it is a bad policy. So, whilst the policy is good, the way it is being administered is not good. You can’t have a policy that restricts so many people from participating, at the end of the day, you are just creating a monopoly."

Rabiu urged the federal government to open up the cement industry for more competition.

According to him, the few players in the industry, “are making so much money in the industry and Nigerians are the ones paying for this. I am part of it, but I know it is wrong. Few people are benefiting and 200 million people are suffering. The business is doing well, we are making money, but how much money do you really need?"

https://www.thisdaylive.com/index.php/2021/02/09/bua-advocates-liberalisation-of-cement-policy-to-crash-price/

First all. I had congratulate Alhaji Abdulsamad Rabiu for being man enough to accept the ring which he is one of the links is bad for Nigeria. Most of us knew what went down between you, Dangote and Ibeto. Most also know how the federal government of Nigeria led by patented goons sidelined Ibeto for Dangote to become the wealthiest man in Africa. Anyway, I cannot fathom what prompted you to came to the truth publicly in this fashion. Whatever it is, I hope the turn deserves another.

Aconomist:
I have no more respect for Dangote. The man is a dirty crook. With the above statements, Rabiu has proven that he actually cares about Nigeria to some extent. Dangote's only goal is to loot the country into the ground.

I really do not know if you should blame Dangote. When the federal government intervenes on your behalf, you should not object. Ibeto was equal competitor to Dangote in cement business however the federal government delved into the scene and completely sidelined Ibato so that only Alhaji Abdulsamad Rabiu and Dangote became the principal players in the cement industry. Even though Ibeto still manages to bag cements, it is not in level of Dangote and Alhaji Abdulsamad Rabiu.

seborrhic:
In saner climes,Dangote would be paying fines in billions for anti-competitive business practices and possible investigation for any bribery of government officials.
Here we are celebrating a man whose only business motto and path to stupendous wealth has been through use of government contacts to get monopoly and driving out other Nigerian businesses through same government agents.

Go and fine him now. Same govt gave him crude oil monopoly through his lekki village.

Aconomist:
In America, where I live. Enjoy your Nigeria, stupid monkey. You animals have the country you deserve.

Chimpanzee that can not stand the heat in the Kitchen running to America if the American did not develop their country where would you run to.The same scenario happened in America, history always repeat itself go learn the history of American capitalist...Immigrant osi.

uruba23:
Chimpanzee that can not stand the heat in the Kitchen running to America if the American did not develop their country where would you run to.The same scenario happened in America, history always repeat itself go learn the history of American capitalist...Immigrant osi.

You don't understand. I'm telling you how America developed, but you are arguing against it. America developed through free markets and regulations that ensured low prices by encouraging competition in industries. Dangote is doing the exact opposite of this.

Nigeria will only develop is when people like you are killed off. You can't be rehabilitated. Your brain is like fufu.

Cement companies in the U.S. have EBITDA margins of 10% -- and if they go above that, they will be an investigation into price fixing or anti-competitive practices. But in Nigeria, Dangote has a EBITDA margin of 60% and Nigerians are comparing cement to iPhone. But when I call you monkey it is a problem?

https://www.macrotrends.net/stocks/charts/USCR/u-s-concrete/ebitda-margin

Aconomist:
You don't understand. I'm telling you how America developed, but you are arguing against it. America developed through free markets and regulations that ensured low prices by encouraging competition in industries. Dangote is doing the exact opposite of this.

Nigeria will only develop is when people like you are killed off. You can't be rehabilitated. Your brain is like fufu.

You talk as if all that happens over night...you can't be comparing scenarios in America to what happens in Nigeria where everyone is on his own literally , and there is one man who still decide to put his trust in this economy despite all the risk and you want me to seat and watch you judge wrongly as if him making loses would make you happy. Don't worry shebi he is coming to America to invest soon, then you can tackle him there.


https://www.youtube.com/watch?v=gR7oHh-fXUw

uruba23:
You talk as if all that happens over night...you can't be comparing scenarios in America to what happens in Nigeria where everyone is on his own literally , and there one man who still decide to put his trust in this economy despite all the risk and you want me to seat and watch you judge wrongly as if he is making loses you would be happy.


https://www.youtube.com/watch?v=gR7oHh-fXUw

How much is Dangote paying you to suck his balls like this? Na business be charity? If Dangote can't do business in Nigeria without engaging in massive corruption and monopoly, he can go elsewhere. Did Nigeria ask for Dangote?

Aconomist:
How much is Dangote paying you to suck his balls like this? Na business be charity? If Dangote can't do business in Nigeria without engaging in massive corruption and monopoly, he can go elsewhere. Did Nigeria ask for Dangote?

I am simply telling you American Capitalism started with Monopoly

uruba23:
I am simply telling you American Capitalism started with Monopoly

So you want to go back 130 years and copy an outdated style of doing business instead of implementing modern regulations currently used in every developed nation?

Aconomist:
So you want to go back 130 years and copy an outdated style of doing business instead of implementing modern regulations currently used in every developed nation? But when I call you monkey it is a problem.

I am only trying to open your brain to the fact things evolve they don't happen over night..The same way you Americans are getting all happy with your Tesla now is the same way some people would be happy with their flying cars in the future....process. Horse cart, cartless aka cars , cars with drivers,drive less cars, flying cars... There is always a process.

uruba23:
I am only trying to open your brain to the fact things evolve they don't happen over night..The same way you Americans are getting all happy with your Tesla now is the same way some people would be happy with their flying cars in the future....process. Horse cart, cartless aka cars , cars with drivers,drive less cars, flying cars... There is always a process.

O.K, and Nigeria has tried monopoly. It isn't working. Now its time for something else.

Aconomist:
Dangote makes 60% profit in Nigeria.

Hmmm,I talk am,him be senior crook.

They are not different from our political thieves.

Aconomist:
O.K, and Nigeria has tried monopoly. It isn't working. Now its time for something else.

Good Night Oga Enjoy your America....

uruba23:
I don't think it has anything to do with low production capacity after all Alhaji has plants in other countries...you keep talking about profit percentage but do you know how much profit Apple makes per Iphone 12 .Every one has a pricing template to protect it's economy.Stop looking at the percentage look at the derivatives in terms of FDI buying up stocks and increasing the valuation of the company which is also good for the country .Today you know Apple is worth more that our reserves 20 times if not more.

Keep defending crooks.

Aconomist:
For those who don't understand financial statements. Look at the bottom of this chart highlighted in yellow. EBITDA refers to cash earnings before tax.

Dangote is making 59.9% profit in Nigeria compared to only 23% profit in other African countries because other African countries don't allow him to monopolize the market. Data comes from Dangote's own website.

https://www.dangotecement.com/wp-content/uploads/reports/2020/9M/DangoteCement_9M2020_ResultsPresentation.pdf pg. 5

thank u, thesame thing i was telling nlders in one of my post that dangote cements in Ghana was sold for#25OO naira
equivalent when it was selling fr 3.5to4k in naija bt b blind ones thinks we are jealous of his monopoly made in naija wealth

Indian authorities raid LaFarge to investigate anticompetitive practices. Meanwhile in Nigeria people defend their criminals.

https://www.reuters.com/article/us-india-antitrust-cement-exclusive/exclusive-india-antitrust-body-raids-cement-giants-ultratech-lafargeholcim-units-sources-say-idUSKBN28J2NI

"In 2012, the CCI imposed a total penalty of $1.1 billion on several cement companies for colluding to under-use their plants and create an artificial shortage of cement. An appeal against that decision is still pending.

In recent years, the CCI has raided offices of other foreign companies, including beer giant Carlsberg and commodities trader Glencore on allegations of price collusion in their industry."

uruba23:
Good Night Oga Enjoy your America....

Read this article from India. Maybe it will open your eyes to how a real country is supposed to operate.

https://www.reuters.com/article/us-india-antitrust-cement-exclusive/exclusive-india-antitrust-body-raids-cement-giants-ultratech-lafargeholcim-units-sources-say-idUSKBN28J2NI

He made a very valid point . Cost of cement in Nigeria is one of the highest in the world. The government should liberalise it so that we can have competition to force down the price. He exports and sells cement at a cheaper price that it is sold in Nigeria

Just the piece I was talking about

Aconomist:
The Chairman and Founder of the BUA Group, Alhaji Abdulsamad Rabiu, has called for the liberalisation of Nigeria’s cement policy to boost production and subsequently crash the price of the commodity. Rabiu said he advised the federal government to open up the industry to allow for more players, expressing the belief that such would help to crash the price of cement in the country.

He states quote:

"Even though this cement policy is a good one, it must be done in such a way that a lot of players must come in and participate. There is no point in making a policy that only one, two, or three people are able to benefit from that policy. That does not make sense. I am benefiting from this policy, but I know it is a bad policy. So, whilst the policy is good, the way it is being administered is not good. You can’t have a policy that restricts so many people from participating, at the end of the day, you are just creating a monopoly."

Rabiu urged the federal government to open up the cement industry for more competition.

According to him, the few players in the industry, “are making so much money in the industry and Nigerians are the ones paying for this. I am part of it, but I know it is wrong. Few people are benefiting and 200 million people are suffering. The business is doing well, we are making money, but how much money do you really need?"

https://www.thisdaylive.com/index.php/2021/02/09/bua-advocates-liberalisation-of-cement-policy-to-crash-price/

Very powerful question right there: how much money do Nigeria's thieving elite really need?

Enough to buy two private jets? A private island? Enough to pay for fairytale weddings that have the white man gaping with envy at black 'affluence'?

Or just enough for Dangote to be able to play billionaire black man and hobnob with Bill Gates (while his business practices hold more than a hundred million Nigerians in subhuman poverty?

Cynocefaal:
Very powerful question right there: how much money do Nigeria's thieving elite really need?

Enough to buy two private jets? A private island? Enough to pay for fairytale weddings that have the white man gaping with envy at black 'affluence'?

Or just enough for Dangote to be able to play billionaire black man and hobnob with Bill Gates (while his business practices hold more than a hundred million Nigerians in subhuman poverty?

The mind of a black man doesn't function like other men. A normal man would be embarrassed to be a billionaire in a country where the average person earns 34 per month, selling cement for the profit margin of an iphone. Dangote is an ape.