Oct. 1, 2013
by Hamza Suleiman with staff
NewsRescue– Our recent article detailed the Dangote business model. See: Paying Double The World Price: Dangote Cements Nigerians In Poverty
Nigeria’s richest man, Aliku Dangote gets rich by shutting down all his competition and then as sole supplier, charging Nigerians double the global price for products he imports or manufactures. This is known as the Dangote business model.
Thousands of Nigeria’s big and small businesses have been killed as Dangote uses his puppets in government to establish his monopoly of Nigeria’s economy.
Described by the US as Dangote beggar-thy-countrymen for his dangerous business operation via friends and leaders he installs in Nigeria assisting him to squash all his competition so he pegs prices as he wishes; Dangote is known to manipulate Nigeria’s business environment ensuring he kills all competition through his cronies, the past president Obasanjo and current president Goodluck Jonathan, whose campaigns he sponsored.
As Aliku beggar-thy-countrymen Dangote sets up to build the first private refinery in Nigeria, it has been predicted that in line with his get-rich-quick business model which as we reported has ensured all competition in the cement market has been effectively crippled via federal government favoritism and bans on competitor activities, the Dangote refinery will likewise bring about the death of the current operating national refineries as well as a complete government truncation of importation of refined petroleum products, hence enabling Dangote assume sole petroleum products supply in Nigeria and then as is with his greed and profiteering nature, the price of petrol and oil products will double in Nigeria.
The removal of Nigeria’s fuel subsidy by Dangote’s stooge, president Jonathan may not be unconnected to paving the path for Dangote’s intended refinery by propelling its potential stock.
Dangote with the help of the current president of Nigeria, Goodluck Jonathan will soon own the entire country, people included. It is no surprise that they say “dog is more loved in Kano than Dangote.”
Our earlier article detailed how he has been amassing wealth on the backs of Nigerians by selling cement at $10-11.00/ N1650-1800 per bag, which is twice the global average for the same size of the product.
It is little surprise that Dangote cement stocks are highly lucrative to foreign investors with the company being one third of the Nigerian stock market.
The effect of Dangote’s selling cement at double the global price is telling on Nigerians who are unable to construct homes and infrastructure as they should be able to. Buildings frequently collapse for reasons that include ‘managing’ the overpriced cement.
Nigeria’s sheeple known for their worship of the rich, are thrilled by the handful of people (more like slaves) Dangote employs. Not realizing that he steals from them everyday to employ a few. Dangote’s refinery will most certainly submerge the nation further in poverty and slavery to the cabal as all his profiteering past business ventures have. And then, he will donate to his 150 million ‘beggars.’