The construction industry represents 10% of Nigeria's GDP and is a massive source of employment. However, the industry is growing at an unacceptably low rate because of the exorbitant price of cement and lack of real competition in the industry. Nigerians pay the highest cement prices anywhere on earth, and the blame falls on one man: Alhaji Aliko Dangote.

Dangote Cement is a criminal monopoly that must be broken up to save Nigeria from economic collapse. According to his 2019 financial report, Dangote enjoys a 59% EBITDA margin on cement sales in Nigeria, compared to 17% elsewhere in Africa. That means, for every $100 in cement he sells he is making roughly $60 in profit. These extreme cement prices are leading to higher costs of housing, joblessness, inflation, and poverty.

One man is impoverishing a country of 200 million people, and nothing is being done to stop him. We should be protesting. Dangote is worse than SARS. Mynd44, put this on the front page.

Link to Dangote's annual report: https://www.dangotecement.com/wp-content/uploads/reports/2020/FY2019/DangoteCement_FY2019_ResultsPresentation.pdf

Wholesale/Depot price of Dangote cement is #2500.
We have other cement brands in Nigeria.
Dangote cement is just a favourite choice.

Generally, we like to exploit/oppress ourselves as Nigerians (NIN as case study).

However, the price of imported cement several years ago would have doubled from around #1800 to around #3600, due to our weak naira exchange rate to dollar.

ChimaAdeoye:
The Fulani Government of Nigeria's singular plan is to have Fulanis control ALL critical sectors of the economy to exploit other Nigerians.

The same thing they are doing with cement is the same thing they have done with beef. Nigerian beef is the most expensive anywhere in the world. They have started the same thing with refineries. Then they will move to electricity, and use their water resources bill to stifle access to water and agricultural production anywhere else outside their control.

You will ask yourself, how many are these Fulani to determine the fate of Nigerians? Not many! But because they have figured the gross inattention of other Nigerians to everything bothering their lives, they have capitalized upon it to drive their wicked agenda for Nigeria.

Unless Nigerians RESIST these people, there will come a time we'd wonder how we irresponsibly surrendered our land, resources and sovereignty to Fulanis.

Please don't tribalize this post. While I don't necessarily disagree with you, we need to focus on the economics, so the point can reach everyone. Fulanis are not the only ones looting Nigeria. Obasanjo gave Dangote his monopoly.

It is like that all over the world. Some certain companies are given unusual monopolies cos they grease hands of politicians. USA, UK, Russia, South Korea, let me not add China.
Carve out your own niche and move on.
Cos they will not listen to you.

Katlyst:
Wholesale/Depot price of Dangote cement is #2500.

Generally, we like to exploit/oppress ourselves as Nigerians (NIN as case study).

However, the price of imported cement several years ago would have doubled from around #1800 to around #3600, due to our weak naira exchange rate to dollar.

That would be better because it would create a natural incentive for domestic production. Right now we are trapped in a hopeless situation because of government intervention. Other African countries have dozens of cement companies competing with each other to provide the lowest price, Nigerians are stuck with Dangote controlling 70% of the market because the government gave him a monopoly in the name of "import substitution". Now, they are moving to do the same thing in sugar, tomato paste and oil refining. The country is dying...

descarado:
It is like that all over the world. Some certain companies are given unusual monopolies cos they grease hands of politicians. USA, UK, Russia, South Korea, let me not add China.
Carve out your own niche and move on.
Cos they will not listen to you.

Baboon. Is China not breaking up Alibaba for monopoly? Is the United States not trying to break up Google and Facebook for monopoly? Other countries are not full of suffering and smiling monkeys like Nigerians who make excuses for every disfunction.

...but to buy Dangote products are not compulsory,
other brands are there too..

..that is why I like myself,
I don't really to go for popular things, including choice of beer.

And you want investors to come into your country when the cost of everything is relatively high..
The situation will remain like this cox we have too much of civil servants in this country who only care for the two bedroom bungalow they will be compensated with after 35 years of service...
Most of them don't even have foresight to analysis the basics economic indices and how the economic policies will influence their lives and children.
They are just comfortable with their minimum wage that will not even meet up with inflation in the long run...

Aconomist:
That would be better because it would create a natural incentive for domestic production. Right now we are trapped in a hopeless situation because of government intervention. Other African countries have dozens of cement companies competing with each other to provide the lowest price, Nigerians are stuck with Dangote controlling 70% of the market because the government gave him a monopoly in the name of "import substitution". Now, they are moving to do the same thing in sugar, tomato paste and oil refining. The country is dying...

At least let's boast of local production and job creation for now instead of importation. Only the big players can survive in Nigeria's manufacturing sector.
Just like the days of MTN monopoly is over, that of Dangote will soon be over too.

Permit me to divert into oil refining, electricity, health care, education and agriculture.

Oil refining: Economy sabotage through corruption & fuel importation subsidy made NNPC and oil importers to frustrate the resurrection of our refineries.

Electricity: Economy sabotage through corruption, generator import business, estimated billing and refusal to circulate prepaid meters.

Healthcare: Economy sabotage through foreign hospital patronage by celebrities, politicians and elites.

Education:Same as health sector.

Agriculture: Economy sabotage through smuggling, foreign goods patronage, hoarding/exportation by local farmers for more profit instead of meeting local demands.

since 1999

PARADIZEPRIEST:
since 1999

OBJ was the main destroyer of Nigeria right from 99,everything about him and his self-centered policy were useless. The foundation a first leader of any country laid after revolution will determined the future of that country.

Aconomist:
Baboon. Is China not breaking up Alibaba for monopoly? Is the United States not trying to break up Google and Facebook for monopoly? Other countries are not full of suffering and smiling monkeys like Nigerians who make excuses for every disfunction.

Next time u wanna quote my moniker and want us to discuss, pls be civil.

In my post I said let me not add China.
I said that for a reason.
Let's see if USA will break up Facebook. Trump wanted to do it if he is elected back.
So far article 230 is still covering Facebook and co.
Facebook founder spent millions to manipulate judges and poll workers to favour Biden so who is going to break his monopoly? Biden he literally put in office?

That is exactly what is happening in Nigeria.
U and I can only rant. The world has always been like that.

Aconomist:
Baboon. Is China not breaking up Alibaba for monopoly? Is the United States not trying to break up Google and Facebook for monopoly? Other countries are not full of suffering and smiling monkeys like Nigerians who make excuses for every disfunction.

It's highly unlikely they'll ever break-up Google and Facebook. Alibaba is being haunted because Jack Ma criticized the Chinese government.

samsard:
It's highly unlikely they'll ever break-up Google and Facebook. Alibaba is being haunted because Jack Ma criticized the Chinese government.

What is the point or your baseless arguments? Is this an indirect way for you to defend Dangote's monopoly?

Aconomist:
What is the point or your baseless arguments? Is this an indirect way for you to defend Dangote's monopoly?

You can kindly go and establish your own cement processing company of you're pained!
Left to you guys we would import even drinking water as long as it remains cheap.