Dangote Bought All Cement Company So That Nobody Will Compete With Him – Nabena

Dangote Bought All Cement Company So That Nobody Will Compete With Him – Nabena

Yekini Nabena, a former Deputy National Organising Secretary of the All Progressives Congress (APC), has raised concerns about the dominance of certain individuals, particularly Aliko DaDangote shaping Nigeria’s economy under the administration of President Bola Tinubu…….READ ALSO Refinery: ‘It Will Be Very Embarrassing That We Finish Port Harcourt, Dangote, Others And Not Have Enough Crude’ – Minister

Nabena highlighted the influence of a select group, referring to them as a “cabal,” in controlling economic growth and decisions within the country.

Expressing dismay over the state of affairs, Nabena questioned why only two individuals are permitted to oversee the production and distribution of cement to Nigeria’s population of over 300 million.

He alleged that Aliko Dangote, Africa’s wealthiest individual, acquired all cement companies in Nigeria to establish a monopoly and prevent competition. Nabena criticized Dangote’s track record, asserting that despite his wealth, he has not effectively managed any company.

Nabena emphasized the negative implications of such monopolistic practices, arguing that they stifle competition and hinder economic growth. He singled out Dangote as a significant challenge facing Nigeria, suggesting that the government needs to address this issue.

Regarding the establishment of the Dangote refinery, Nabena suggested that its primary purpose was to refine Nigerian crude oil and supply the refined products domestically. However, he implied that entities like Dangote are now resisting the government’s efforts, insinuating their opposition stems from the government’s exposure of their activities.

Nabena’s remarks underscore ongoing debates about economic monopolies and the influence of powerful individuals in shaping Nigeria’s economic landscape, reflecting broader discussions about economic reform and regulation in the country.

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