chukiz:
Let's face reality, nigeria is a sinking ship, thanks to our stupid ass Government.

Who is the Government? We the citizens & residence of the Federal Republic of Nigeria is the Government. You voted them to power, they represent us, You are only a reflection of your elected leaders.

OnlyDeCapPlease:


Maybe you can start you own thread on the above instead of pathetically trying to stoke up ethnic sentiments in order to derail this one.

The are talking about Fulanization/monopolistic agenda of Dangote, while its a fact these same elements have monopolized,/ igbolized anything hard drugs, cocaine pushing, fake drugs in the country. Answer me where did the term Igbo made come from ?.
Its like pots calling a kettle black. If we truly want this country to work let drop all these ethnic sentiments and work hard, not the hypocrisy we are seeing today.

favor914:
What answer are you looking for? If you have a vision go and invest, or do you think those robber barons are doing business to make you & your Nigerian brethren rich?

I can't make out any sense in what u just said.

With regards to answers, find below d questions I asked. But am not expecting anything special from u. It's not ur speciality:

So u mean Ibeto wasn't willing to take d risk? Is "everything working against" dangote and co mentioned in d story?

Taxes paid? Are u aware that dangote barely pays taxes as a result of being a beneficiary of some of d policies mentioned in d article?

What exactly are d benefits to d economy that u are touting?

Dangote, dangote dangote!

lexy2014:


I can't make out any sense in what u just said.

With regards to answers, find below d questions I asked. But am not expecting anything special from u. It's not ur speciality:

So u mean Ibeto wasn't willing to take d risk? Is "everything working against" dangote and co mentioned in d story?

Taxes paid? Are u aware that dangote barely pays taxes as a result of being a beneficiary of some of d policies mentioned in d article?

What exactly are d benefits to d economy that u are touting?

Rubbish is Dangote the only business man that was given tax waivers, the Ibeto man you mentioned do you know the amount of slacks the Federal Government gave High Chief? go to the Ministry of Finance, & the Central Bank of Nigeria to do more fact finding, not these garbage thrash, even a Bloomberg intern reporter will do a better job.

Patrioticman007:


The are talking about Fulanization/monopolistic agenda of Dangote, while its a fact these same elements have monopolized,/ igbolized anything hard drugs, cocaine pushing, fake drugs in the country. Answer me where did the term Igbo made come from ?.
Its like pots calling a kettle black. If we truly want this country to work let drop all these ethnic sentiments and work hard, not the hypocrisy we are seeing today.

Don’t mind the Mumu, think they can disguise in promoting soft hate, Who is he trying to blame?

Patrioticman007:


The are talking about Fulanization/monopolistic agenda of Dangote, while its a fact these same elements have monopolized,/ igbolized anything hard drugs, cocaine pushing, fake drugs in the country. Answer me where did the term Igbo made come from ?.
Its like pots calling a kettle black. If we truly want this country to work let drop all these ethnic sentiments and work hard, not the hypocrisy we are seeing today.

Like I said, if there is a thread for the above we can thrash the topic well. Meanwhile I'm struggling to understand the Igbo angle here because the article was written by a Yoruba person?

favor914:
Don’t mind the Mumu, think they can disguise in promoting soft hate, Who is he trying to blame?

I'm confused. Who is the they here? The author of the article?

favor914:
Rubbish is Dangote the only business man that was given tax waivers, the Ibeto man you mentioned do you know the amount of slacks the Federal Government gave High Chief? go to the Ministry of Finance, & the Central Bank of Nigeria to do more fact finding, not these garbage thrash, even a Bloomberg intern reporter will do a better job.

Since u have gone to ministry of finance and d central bank of nigeria, kindly furnish us with ur findings. Am certain that u are an accomplished Bloomberg reporter. Kindly do justice to d following in a professional manner:

With regards to answers, find below d questions I asked. But am not expecting anything special from u. It's not ur speciality:

So u mean Ibeto wasn't willing to take d risk? Is "everything working against" dangote and co mentioned in d story?

Taxes paid? Are u aware that dangote barely pays taxes as a result of being a beneficiary of some of d policies mentioned in d article?

What exactly are d benefits to d economy that u are touting?

NB: Pls look at d question I asked about Ibeto. It's at variance with what u said about him. There's no correlation

OnlyDeCapPlease:


I'm confused. Who is the they here? The author of the article?

The one claiming it is a Yoruba that wrote the article, and The culprit that wrote the article, must everything have an ethnic undertone, now Dangote is a bad person, IBeto is a good businessman?

lexy2014:


Since u have gone to ministry of finance and d central bank of nigeria, kindly furnish us with ur findings. Am certain that u are an accomplished Bloomberg reporter. Kindly do justice to d following in a professional manner:

With regards to answers, find below d questions I asked. But am not expecting anything special from u. It's not ur speciality:

So u mean Ibeto wasn't willing to take d risk? Is "everything working against" dangote and co mentioned in d story?

Taxes paid? Are u aware that dangote barely pays taxes as a result of being a beneficiary of some of d policies mentioned in d article?

What exactly are d benefits to d economy that u are touting?

NB: Pls look at d question I asked about Ibeto. It's at variance with what u said about him. There's no correlation

My Guy Go and sleep you are tired, you ain’t making sense,gerrout with your rubbish biased tainted questions, tomorrow is Monday, go to CBN & ask them why they gave Dangote waiver in 2006, & stop boring us, you want to hear the answer you want to hear? But not from me.

festacman:
Every government policy like Backward Intergration Programme (BIP) is supposed to have a document stating its SMART objectives, implementation guidelines, periodic review of journey so far, etc. If the government agency or NASS committee that is supposed to oversee and regulate BIP implementation decides to be inactive, beneficiary firms won't meet with their commitments as expected. Here the executive and parliament are both to be blamed for their failings.

Nigerians are not patriotic enough for all what you wrote up there. A little change to their pocket and they'll throw policy to the bin.

brandsoncharlie:

Corrupt thieve. Oloshi
Only in Nigeria, go and do what dangote is doing in Europe, USA and other sane countries in Asia, or other sane countries in Africa and see if you will live to tell the story.
You are rich from stealing from others and you think it is wealth. Ole

Bank and large cooperation have done worst in U.S and are still standing.

favor914:
My Guy Go and sleep you are tired, you ain’t making sense,gerrout with your rubbish biased tainted questions, tomorrow is Monday, go to CBN & ask them why they gave Dangote waiver in 2006, & stop boring us, you want to hear the answer you want to hear? But not from me.

If I go and sleep, will u stay awake? u aren't sounding like a professional Bloomberg reporter. If u can't answer my questions, why not admit it? Why start a fight that u don't have d capacity to finish? Why should I go to CBN when I have u?

Since u have gone to ministry of finance and d central bank of nigeria, kindly furnish us with ur findings. Am certain that u are an accomplished Bloomberg reporter. Kindly do justice to d following in a professional manner:

With regards to answers, find below d questions I asked. But am not expecting anything special from u. It's not ur speciality:

So u mean Ibeto wasn't willing to take d risk? Is "everything working against" dangote and co mentioned in d story?

Taxes paid? Are u aware that dangote barely pays taxes as a result of being a beneficiary of some of d policies mentioned in d article?

What exactly are d benefits to d economy that u are touting?

NB: Pls look at d question I asked about Ibeto. It's at variance with what u said about him. There's no correlation

favor914:
The one claiming it is a Yoruba that wrote the article, and The culprit that wrote the article, must everything have an ethnic undertone, now Dangote is a bad person, IBeto is a good businessman?

I've taken the time to google the author and he's a real person, so I'm still at a loss at your angle??

Patrioticman007:


The are talking about Fulanization/monopolistic agenda of Dangote, while its a fact these same elements have monopolized,/ igbolized anything hard drugs, cocaine pushing, fake drugs in the country. Answer me where did the term Igbo made come from ?.
Its like pots calling a kettle black. If we truly want this country to work let drop all these ethnic sentiments and work hard, not the hypocrisy we are seeing today.

You're one pathetic, insecure swine!

The author of the OP is a Yoruba, yet all you can think of as the cause of your misery is NDIGBO!

You're Fulani aren't you?

lexy2014:


Since u have gone to ministry of finance and d central bank of nigeria, kindly furnish us with ur findings. Am certain that u are an accomplished Bloomberg reporter. Kindly do justice to d following in a professional manner:

With regards to answers, find below d questions I asked. But am not expecting anything special from u. It's not ur speciality:

So u mean Ibeto wasn't willing to take d risk? Is "everything working against" dangote and co mentioned in d story?

Taxes paid? Are u aware that dangote barely pays taxes as a result of being a beneficiary of some of d policies mentioned in d article?

What exactly are d benefits to d economy that u are touting?

NB: Pls look at d question I asked about Ibeto. It's at variance with what u said about him. There's no correlation

I believe FestacMan has answered your question cc below, don’t hate the Player, hate the game:

Every government policy like Backward Intergration Programme (BIP) is supposed to have a document stating its SMART objectives, implementation guidelines, periodic review of journey so far, etc. If the government agency or NASS committee that is supposed to oversee and regulate BIP implementation decides to be inactive, beneficiary firms won't meet with their commitments as expected. Here the executive and parliament are both to be blamed for their failings

kayjay69:
If it is document, we have enough of that already. What we lack is the backbone from regulatory bodies and those in government.

Unfortunately these people have been bought and paid for hence I do not honestly see things getting any better any time soon.

I was having this same conversation with someone here on nairaland who insisted that dangote's refinery would help Nigeria's economy and its ailing currency. Last I checked, dangote was a capitalist to the core. He is in business to help himself and himself alone as evidenced by how he runs his business empire. Based on precedence, nothing indicates he will become an overnight socialist and a patriot that wishes to help the country as much as himself. Men like dangote exist to help themselves the country be damned.

A man who is rumoured to have single handedly wrecked the former Nigerian Railway Corporation can never be seen as to have good intentions for Nigeria as a country.

I agree that capitalists like Dangote are selfish profit-driven exploiters.

However, I am sure that Dangote knows that oil business is a sensitive one given the awareness and hostility of the region that produces crude oil.

In addition, given that ours is multi-ethnic country which is reflected in the parliament that makes and amend laws, I am confident that any attempt by Dangote to exploit or to be monopolistic will be stifled.

By the way, I understand Dangote's contention that only owners of refineries should be given licences to import fuel if shortage exists. Of course, here he is protecting his investment from 'briefcase importers' who show no commitments to make sacrifice and invest long-term in local oil refining.

tutudesz:

OBJ was the one who gave Dangote cement Monopoly and not Buhari

It is this bias and chronic trappings of hate that makes people to still support Buhari and they are shocked.

Sugar and Cement was monopolised by these capitalists before Buhari, but hey, Buhari must take all the blame.

The major problem is that we don't have strong, patriotic elements in places of authority that has the discipline to see public protection policies through.

Nigerians get easily compromised and that is why the entire country is a mess. Everyman is for their own pocket and gain. From NASS members to the civil service.

favor914:
I believe FestacMan has answered your question cc below, don’t hate the Player, hate the game:

Every government policy like Backward Intergration Programme (BIP) is supposed to have a document stating its SMART objectives, implementation guidelines, periodic review of journey so far, etc. If the government agency or NASS committee that is supposed to oversee and regulate BIP implementation decides to be inactive, beneficiary firms won't meet with their commitments as expected. Here the executive and parliament are both to be blamed for their failings

I don't see d correlation with d copy and paste u did and d following:

Since u have gone to ministry of finance and d central bank of nigeria, kindly furnish us with ur findings. Am certain that u are an accomplished Bloomberg reporter. Kindly do justice to d following in a professional manner:

With regards to answers, find below d questions I asked. But am not expecting anything special from u. It's not ur speciality:

So u mean Ibeto wasn't willing to take d risk? Is "everything working against" dangote and co mentioned in d story?

Taxes paid? Are u aware that dangote barely pays taxes as a result of being a beneficiary of some of d policies mentioned in d article?

What exactly are d benefits to d economy that u are touting?

NB: Pls look at d question I asked about Ibeto. It's at variance with what u said about him. There's no correlation

favor914:
I believe FestacMan has answered your question cc below, don’t hate the Player, hate the game:

Every government policy like Backward Intergration Programme (BIP) is supposed to have a document stating its SMART objectives, implementation guidelines, periodic review of journey so far, etc. If the government agency or NASS committee that is supposed to oversee and regulate BIP implementation decides to be inactive, beneficiary firms won't meet with their commitments as expected. Here the executive and parliament are both to be blamed for their failings

Absolutely! I really can't blame anyone taking advantage of the dysfunction in Nigeria to make money. I 100% blame govt, regulators and lawmakers.

OnlyDeCapPlease:



Like I said, if there is a thread for the above we can thrash the topic well. Meanwhile I'm struggling to understand the Igbo angle here because the article was written by a Yoruba person?

IGBO is their bogeyman....the main group they fear has the most zeal and capacity to end their parasitism and leeching of the Nigerian commonwealth that they've been engaged in from the late 60s to date!

agabusta:


It is this bias that makes people to still support Buhari and they are shocked.

Sugar and Cement was monopolised by these capitalists before Buhari, but hey, Buhari must take all the blame.

The major problem is that we don't have strong, patriotic elements in places of authority that has the discipline to see public protection policies through.

Nigerians get easily compromised and that is why the entire country is a mess. Everyman is for their own pocket and gain. From NASS members to the civil service.

Thank You.

PROUDIGBO:


IGBO is their bogeyman....the main group they fear has the most zeal and capacity to end their parasitism and leeching of the Nigerian commonwealth that they've been engaged in from the late 60s to date!

For every Hausa man, there is an Igbo Partner & Vice versa, only the poor don’t know that & remain in penury.

COMPAQ:


Benefits to the economy goes beyond the price of the final product. There are jobs created - direct and indirect, economic activity created, technollogy transfered, taxes paid etc

Also there are many factors that contribute to the factors of production and ultimately cost of a product. Nigerias inefficient economy doesn't help. There was a report recently that it costs $1000 to transport a container from China to Lagos, but to deliver same container from Apapa port to Ikeja ,transporters were charging N150k due to difficulty to move at the ports.

Agreed that the policies could be implemented better and it seems like the same names come up - Dangote,BUA etc, but they seem to be the only ones willing to take the risk and there are also benefits to the economy as I explained above.

Most Nigerian rich men like easier money. They prefer trading to manufacturing. Import for N50k, sell for N100k and no value added.

I can't take the risk they do, doing such huge business in Nigeria where everything is working against you, so if they also make huge profits for their risk, why should I complain.

God bless you for this insightful comment.

These are the conversations we need to take the country forward, but its seriously lacking these days. Tribalists and conspiracy theorists have taken over.

I said it, Dangote #1 fraudster in Africa. From the OP narratives if those companies are not working effectively how then are they making the huge profit? are they laundering money?

COMPAQ:


Benefits to the economy goes beyond the price of the final product. There are jobs created - direct and indirect, economic activity created, technollogy transfered, taxes paid etc

Also there are many factors that contribute to the factors of production and ultimately cost of a product. Nigerias inefficient economy doesn't help. There was a report recently that it costs $1000 to transport a container from China to Lagos, but to deliver same container from Apapa port to Ikeja ,transporters were charging N150k due to difficulty to move at the ports.

Agreed that the policies could be implemented better and it seems like the same names come up - Dangote,BUA etc, but they seem to be the only ones willing to take the risk and there are also benefits to the economy as I explained above.

Most Nigerian rich men like easier money. They prefer trading to manufacturing. Import for N50k, sell for N100k and no value added.

I can't take the risk they do, doing such huge business in Nigeria where everything is working against you, so if they also make huge profits for their risk, why should I complain.

Powerful insight.

agabusta:


It is this bias that makes people to still support Buhari and they are shocked.

Sugar and Cement was monopolised by these capitalists before Buhari, but hey, Buhari must take all the blame.

The major problem is that we don't have strong, patriotic elements in places of authority that has the discipline to see public protection policies through.

Nigerians get easily compromised and that is why the entire country is a mess. Everyman is for their own pocket and gain. From NASS members to the civil service.

Patriotism doesn't exist when it's concerns the public Now Dangote wants only Wants Only Refinery License Holders To Import Fuel On Saturday the CBN governor said oil will be sold to him with Naira and not dollars.
Nigeria economy growth depends on one man only, NASS lack ideas on what laws to make.

calcal:
I said it, Dangote #1 fraudster in Africa. From the OP narratives if those companies are not working effectively how then are they making the huge profit? are they laundering money?

. Courtesy of Agabusta:
These are the conversations we need to take the country forward, but its seriously lacking these days. Tribalists and conspiracy theorists have taken over.

COMPAQ:


Benefits to the economy goes beyond the price of the final product. There are jobs created - direct and indirect, economic activity created, technollogy transfered, taxes paid etc

Also there are many factors that contribute to the factors of production and ultimately cost of a product. Nigerias inefficient economy doesn't help. There was a report recently that it costs $1000 to transport a container from China to Lagos, but to deliver same container from Apapa port to Ikeja ,transporters were charging N150k due to difficulty to move at the ports.

Agreed that the policies could be implemented better and it seems like the same names come up - Dangote,BUA etc, but they seem to be the only ones willing to take the risk and there are also benefits to the economy as I explained above.

Most Nigerian rich men like easier money. They prefer trading to manufacturing. Import for N50k, sell for N100k and no value added.

I can't take the risk they do, doing such huge business in Nigeria where everything is working against you, so if they also make huge profits for their risk, why should I complain.

You have missed the thrust of the message of this beautifully researched article. While it's true that businessmen who take greater risks stand to reap greater rewards than their risk-averse counterparts, it doesn't mean it's acceptable for them to benefit to the detriment of the greater populace.

The main point raised in the article is that previous backward integration policies HAVE NOT DELIVERED on the initial targets of lowering prices of the commodities involved (sugar and cement) in order to benefit the greater populace as promised by the beneficiaries at the commencement phase. It has come out that the exclusive market players reneged on their initial promises to raise prices multiple times higher than what they met it. There isn't enough justification for this as most of their inputs are locally sourced thus mitigating impact of adverse fx rate from Naira devaluations.

The point is despite the Government massive support to Dangote and co through tax holidays and other incentives, prices of sugar and cement have sky-rocketed almost beyond the reach of average income earners. So why incentivize them in the first place if they are not delivering on the initial objectives? Also note that the multiplier effect of Dangote's business you talked about (which is limited to people that are linked directly or indirectly to his business) is greatly superseded by the adverse impact of inflated prices of sugar and cement as this affects tens of millions of the general populace. Thus, the negative pricing impact outweighs the multiplier effect resulting in a net unfavourable situation for Nigeria as a whole.

So the key question raised by the author is that why incentivize only Dangote again in the oil refinery space judging from how similar scenarios with sugar and cement played out? Now, Government is saying it will ultimately help to lower retail price of petrol to Nigerians, just like they said about sugar and cement. What guarantee is there that Dangote will not do an about-turn and start to adjust the price knob as he wishes once he has Nigerian populace by their balls? Is that the reward you are referring to that he is entitled to as a risk taking capitalist? Then why deceive Nigerians ab initio with lower prices when you'd eventually do the opposite judging from historical precedence? Is that acceptable? These are the salient questions raised in the article that you've just glossed over with your multiplier effect comment.

tutudesz:

Patriotism doesn't exist when it's concerns the public Now Dangote wants only Wants Only Refinery License Holders To Import Fuel On Saturday the CBN governor said oil will be sold to him with Naira and not dollars.
Nigeria economy growth depends on one man only, NASS lack ideas on what laws to make.

If you were given a second life, you wouldn’t still be half as patriotic as Aliko Dangote, So you want CBN & NNPC to sell crude oil to Dangote in dollars?, do you buy petrol at the pump with dollars although the gasoline is imported? Hypocrisy will kill some people in Nigeria.

COMPAQ:


Benefits to the economy goes beyond the price of the final product. There are jobs created - direct and indirect, economic activity created, technollogy transfered, taxes paid etc

Also there are many factors that contribute to the factors of production and ultimately cost of a product. Nigerias inefficient economy doesn't help. There was a report recently that it costs $1000 to transport a container from China to Lagos, but to deliver same container from Apapa port to Ikeja ,transporters were charging N150k due to difficulty to move at the ports.

Agreed that the policies could be implemented better and it seems like the same names come up - Dangote,BUA etc, but they seem to be the only ones willing to take the risk and there are also benefits to the economy as I explained above.

Most Nigerian rich men like easier money. They prefer trading to manufacturing. Import for N50k, sell for N100k and no value added.

I can't take the risk they do, doing such huge business in Nigeria where everything is working against you, so if they also make huge profits for their risk, why should I complain.

They are can take such risk because of Government backing. Nobody make large investment with speaking with FG 1st and negotiating some benefit.