Nigerians Slam Dangote Over “Exorbitant” Cement Price
LAGOS AUGUST 27TH (NEWSRANGERS)-Aliko Dangote, Africa’s richest man, is facing mounting criticism from Nigerians questioning the fairness of his business empire.
With a total of 15,200 tweets at the time of this report, Dangote Group’s leader has come under public scrutiny for the reported disparities in the prices of his cement products across Africa.
According to X (formerly Twitter) discussions, there are claims that the billionaire offers cement to other African nations at a more reasonable cost.
A user on the X platform, Nefertiti, pointed out that despite Dangote Cement’s production in Nigeria, it fails to offer the product at an affordable rate, prompting contractors to resort to importing it.
- “Dangote Cement is more expensive than imported cement, & you have all the raw materials in Nigeria. Contractors prefer imported cement, but cement import is banned in Nigeria. You must use Dangote by force. This is for those waiting to buy cheap petrol from the Dangote Refinery.”
Dangote cement is produced in Nigeria, The raw material is sourced locally in Nigeria at almost zero cost. Nothing is imported.
Almost zero taxes yet the price of cement is 5,200 Naira in Nigeria and same is sold in Benin Republic at 3,699.15 Naira.
— A. Ayofe (@abdullahayofel) August 25, 2023
Another user, Abdullahayofel, emphasized that the cement company enjoys access to raw materials at minimal costs, giving it a competitive edge.
- “Dangote cement is produced in Nigeria, The raw material is sourced locally in Nigeria at almost zero cost. Nothing is imported. Almost zero taxes yet the price of cement is 5,200 Naira in Nigeria and the same is sold in the Benin Republic at 3,699.15 Naira.
Dangote cement is produced in Nigeria, The raw material is sourced locally in Nigeria at almost zero cost. Nothing is imported.
Almost zero taxes yet the price of cement is 5,200 Naira in Nigeria and same is sold in Benin Republic at 3,699.15 Naira.
— A. Ayofe (@abdullahayofel) August 25, 2023
Kelvin Odanz added his voice, supporting the notion that contractors prefer imports due to the high local prices of the billionaire’s cement company.
- “Apparently cement imported from abroad is cheaper than the one our sugar daddy and his clique produces in Nigeria. Contractors prefer importing it This is for those of you who think our sugar daddy’s refinery will help bring down the cost of fuel when finally completed. LOL for you”
Apparently cement imported from abroad is cheaper than the one our sugar daddy and his clique produces in Nigeria. Contractors prefer importing it
This is for those of you who think our sugar daddy's refinery will help bring down cost of fuel when finally completed. LOL for you
— Kelvin Odanz (@MrOdanz) August 25, 2023
Captain Tango stated that Dangote relies on government support to drive the success of his business.
- “Dangote is not the smartest politician, what he enjoys is government patronage thereby granting him crazy tax breaks and monopoly over the market. If INNOSON Motors or other businessmen have the same privileges he enjoys it will be good for all or throw the cement market open.
A user, Priste added that the lack of a level playing field in the country has resulted in cement market monopolization.
- “The issue is basically the lack of a level playing ground. Using the government to stifle other competitors is what has gotten us to this level of monopoly. This same dangote cement is cheaper in other West African countries.”
The issue is basically the lack of a level playing ground. Using the government to stifle other competitors is what has gotten us to this level of monopoly.
This same dangote cement is cheaper in other west African countries.
— G E (@priste_) August 25, 2023
Naira Metric
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Posted by News Rangers
on Aug 27 2023. Filed under Business, National.
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