December 4, 2022

Global News

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Aliko Dangote Deceives Nigerians With N1,000 Cement To Fight Competitors

3 min read

dangote< [showads ad=GLO]/a>Everyone knows that AlhajiAliko Dangote is a highly successful business magnate in Nigeria. He sits atop the Dangote Group, which has interests in commodities. The company operates in Nigeria and several other countries in Africa, including Benin,Cameroon, Togo,Ghana, South Africa and Zambia. As at March 2014, he had an estimated net worth of $25 billion USD. Dangote is ranked by Forbes Magazine as the 23rd richest person in the world and the richest man in Africa. He surpassed Saudi-Ethiopian billionaire Mohammed Hussein Al Amoudiin 2013 by over $2.6 billion to become the world’s richest black man. [showads ad=GLO]

Right now, the big businessman is doing everything possible to frustrate those who want to venture into any of his lines of business. Take for instance, the cement business; Dangote, in a bid to oust those who he believes are his major competitors recently reduced the price of his brand of cement to N1,000 per bag to ensure that the likes of BUA Cement owned by Abdulsamad Rabiu, Ibeto Cement owned by Dr. Cletus Ibeto and the Saro Cement are all frustrated out of business. Also, in a bid to use some tricks to give confidence to Nigerians, Dangote said that he will make sure that he pays the accumulating tax on his cement manufacturing and importation to the federal government from his own personal account. [showads ad=GLO]Anyway, one fact remains that Nigerians believe that the rich do not pay tax in this country and they already have a mutual relationship and business pact with the federal government. We also have it on good authority that this will not be the first time Dangote would say that he is crashing the prices of cement. Some who are in the know told us that he only does that to harass his competitors and send them packing from the business. [showads ad=GLO]

Alhaji Aliko Dangote who hails from Kano State is also from a wealthy Muslim family. From the time he was young, Dangote had an eye on business. He was quoted as saying, “I can remember when I was in primary school, I would go and buy cartons of sweets [sugar boxes] and I would start selling them just to make money. I was so interested in business, even at that time.” He studied business at the Al-Azhar University in Cairo, Egyptand thereafter returned to Nigeria to borrow from his uncle Sanusi Abdulkadir Dantata, who provided him a loan of ₦500,000 when Aliko was just 21 years old, in order to start a business.

The Dangote Group was established as a small trading firm in 1977. Today, it is a multi-trillion naira conglomerate with many of its operations in Benin, Ghana,Nigeria, and Togo. At present, Dangote has enlarged his line of businesses to also cover food processing, cement manufacturing, and freight. The Dangote Group also dominates the sugar market in Nigeria and is a major sugar supplier to the country’s soft drink companies, breweries, and confectioners. The Dangote Group has moved from being a trading company to being the largest industrial group in Nigeria and these include: Dangote Sugar Refinery, Dangote Cement, and Dangote Flour, just to mention a few.

Many people are now watching with keen eyes the reason for this Father Christmas attitude of Dangote who is notorious for allowing any competitor to cross his line of business and they are skeptical of this generosity to the extent that they claim that nothing good will definitely come out of it and when he is finally done with those he lays the landmines for, cement price will definitely come back to its normal price.

 

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UBA Foundation Rings in The Yuletide Season, Lights Up the Lagos Marina Africa’s Global bank, United Bank for Africa, through its Corporate Social Responsibility Arm, the UBA Foundation, on Tuesday, held its annual Christmas Lighting ceremony to mark the start of the festive season. The brilliant Christmas Lights of the UBA Foundation Gardens at the UBA Head Office on the Marina in Lagos, were activated by the bank’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, in a grand ceremony which was witnessed by key management staff and some customers of the bank. Alawuba, who addressed attendees at the ceremony, reiterated that the annual Lighting event is a symbol of hope for the coming year, the future and all the goodness it will bring into people’s lives. Alawuba said, “The UBA Foundation is focused on touching lives and giving back to its host communities. UBA through its foundation, the UBA Foundation desire remains is committed to improving lives in whatever way we can. We want to give back always and this event is quite symbolic as it represents the affinity we have towards our customers, employees and associates as well as our communities.” The CEO of the UBA Foundation, Mrs Bola Atta, said that the Christmas lighting ceremony was important for the Foundation adding: “Today is significant. All over the world, it is known in the advent period as Giving Tuesday. It is a time to give back to those who don’t have enough. It is a time to shine light on others, to give hope and give gifts. Today we gave out a lot of gifts and people were happy as we lit up the Foundation gardens to symbolise joy and hope. We are constantly reminded as an institution, of our promise to continue to touch lives and show kindness. In these difficult times, sharing even a little bit, goes a long way.” The lighting ceremony was attended by UBA staff members and customers who were serenaded with Christmas carols by the UBA Customer Fulfilment Centre’s choir. It ended with a guided tour around the UBA Foundation gardens on the Lagos Marina. Over the years, the UBA Foundation has been very active in creating sustainable development in its host communities and as part of its corporate social responsibility, the Foundation will be feeding tens of thousands of people across Africa during this festive season. UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

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2 min read

UBA Foundation Rings in The Yuletide Season, Lights Up the Lagos Marina Africa’s Global bank, United Bank for Africa, through its Corporate Social Responsibility Arm, the UBA Foundation, on Tuesday, held its annual Christmas Lighting ceremony to mark the start of the festive season. The brilliant Christmas Lights of the UBA Foundation Gardens at the UBA Head Office on the Marina in Lagos, were activated by the bank’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, in a grand ceremony which was witnessed by key management staff and some customers of the bank. Alawuba, who addressed attendees at the ceremony, reiterated that the annual Lighting event is a symbol of hope for the coming year, the future and all the goodness it will bring into people’s lives. Alawuba said, “The UBA Foundation is focused on touching lives and giving back to its host communities. UBA through its foundation, the UBA Foundation desire remains is committed to improving lives in whatever way we can. We want to give back always and this event is quite symbolic as it represents the affinity we have towards our customers, employees and associates as well as our communities.” The CEO of the UBA Foundation, Mrs Bola Atta, said that the Christmas lighting ceremony was important for the Foundation adding: “Today is significant. All over the world, it is known in the advent period as Giving Tuesday. It is a time to give back to those who don’t have enough. It is a time to shine light on others, to give hope and give gifts. Today we gave out a lot of gifts and people were happy as we lit up the Foundation gardens to symbolise joy and hope. We are constantly reminded as an institution, of our promise to continue to touch lives and show kindness. In these difficult times, sharing even a little bit, goes a long way.” The lighting ceremony was attended by UBA staff members and customers who were serenaded with Christmas carols by the UBA Customer Fulfilment Centre’s choir. It ended with a guided tour around the UBA Foundation gardens on the Lagos Marina. Over the years, the UBA Foundation has been very active in creating sustainable development in its host communities and as part of its corporate social responsibility, the Foundation will be feeding tens of thousands of people across Africa during this festive season. UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

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