Apparently according to this article from @feyi fawehinmi Dangote makes the highest PROFITS for cement manufacture on earth. The global profit range is between 6 to 18%. Dangote makes a 52% profit margin despite the challenges of electricity and bad roads. He and his government cronies over the years have built a monopolistic fortress that chases out any cement players who try to bring in cheaper cement with clever seemingly patriotic policies. The man barely pays tax due to all manner of government waivers as well. The argument that having expensive locally produced cement is better because dangote and lafarge employ and manufacture here is totall hogwash when you consider how much our economy will gain from the building boom which will result from cheaper cement. imagine a nigeria where cement is below N900 per bag. Imagine the numbers of architects, builders, masons, mama puts, labourers, electricians, carpenters, plumbers, etc that will earn because cement costs less. Add furniture, electrical fittings, kitchen appliances sellers etc.... Now compare this to the 20, 000 strong workforce Dangote pays from choking Nigeria with his vampiristic 52% profit margin to our applause. Imagine the boom in business from increased home ownership opening up financing opportunities via mortgages. Imagine having a fighting chance at owning a home. All lost to a geedy monopoly that on top of it all offers only 5% of itself as shares to nigerian ownership and lists on the london exchange instead. Its a heist! We are deeply unserious about job creation which by the way impacts on peace and security. Please read the article below by Feyi Fawehinmi it is very informative and thorough. There is a link to one before it that tackles the figures in finer detail. I posted both earlier but will post them again. Nigeria doesnt have to be the way it is now. Lets apply a sense of fairplay and common sense. As Sanusi once said lets face our obsession with kow towing to vested intersts without question. It will be our doom. Nigeria can be turned around very quickly. Every day I understand this more Frank Evbuomwan Emma-jayne Ekong Slumdweller Agbodemu Wynyfred Achu Paul Nya Rotimi Olawale OluwaKayode Ogundamisi Ikhide Ikheloa Jeff McDominic Reggie DBasseygie DBassey]
Posted on: Thu, 17 Apr 2014 04:17:45 +0000
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