Aliko Dangote to Scrap Steel Investment Over Allegations of Monopoly

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Aliko Dangote to Scrap Steel Investment Over Allegations of Monopoly - Nigeria, a country renowned for its vast resources and vibrant entrepreneurial spirit, finds itself at a crossroads: Is it undermining one of its most formidable assets, Aliko Dangote? As the leader of Dangote Industries, Africa’s largest conglomerate, Dangote has been a linchpin in Nigeria’s industrial progress. However, recent controversies cast a shadow over whether Nigeria is truly supporting its most influential industrialist or inadvertently stifling his ambitions.
In a surprising shift, Aliko Dangote has announced a halt to his ambitious plans for Nigeria’s steel industry. This decision comes in the wake of fears about being labeled a monopolist, an accusation that has plagued Dangote's ventures. The steel sector, a critical component of Nigeria’s industrial fabric, has long been marred by failed projects such as the Ajaokuta Steel Plant. Dangote’s entry was initially seen as a transformative opportunity, promising to leverage Nigeria’s mineral wealth and invigorate local production.
Yet, the prospect of monopolistic claims has led Dangote to reconsider his strategy, opting to step back rather than navigate the murky waters of regulatory scrutiny. This retreat leaves a significant void in an industry poised for growth, raising questions about Nigeria’s commitment to harnessing its industrial potential.
The controversy surrounding Dangote Industries extends to the colossal Dangote Refinery, the world’s largest single-train refinery located in Lagos. This $19.5 billion investment represents a bold bet on Nigeria’s future, yet it has not been without challenges.
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Пікірлер: 40

@williammbuthiamaitai5274 2 ай бұрын

This is a case study of african governments treatment and subortage of indigenous effort to liberation of Africa economically

@pablocharlie 2 ай бұрын

No kid, its typical african communist socialist behaviour and the anti-capitalist government policies haha it has destroyed banana africa 🤣🫵

@RUTHLESSambition5 2 ай бұрын

What do you expect from Nigerians

@WonderWoman-so4mk 2 ай бұрын

It's literally impossible for Nigeria or Africa as a whole to develop by putting external "investors" before domestic ones like Dangote. NO developed nation developed that way. Protectionism & import substitution are a must in the developmental stage. A welterweight can't fairly "compete" with multinational heavyweights- especially when the latter are heavily favored by corrupted politicians, who are owned by them & care nothing about the progress of their own motherland.

@pablocharlie 2 ай бұрын

No kid, its typical african communist socialist behaviour and the anti-capitalist government policies haha it has destroyed banana africa 🤣🫵

@luke184lisa 2 ай бұрын

As an American I have tremendous respect for Dangote. He has his head on straight. Dangote must do what is right for his business and Nigeria, in mind, body, soul and spirit.

@WonderWoman-so4mk 2 ай бұрын

Or set up his next venture in one of the AES countries, where rational leaders exist. Nigerian political elites are overpaid to deliver virtually nothing for the people. As long as they can vacation, shop, & send their kids abroad, that's all they care about- while the people are saddled with paying off the loans funding their shallow lifestyles.

@user-qb6gu4bk9lBiafra 2 ай бұрын

@WonderWoman-so4mk AES don't allow criminals and corropt people, dangote is one of the biggest problem of Nigerians, he is a foolani terrorists supporter in Nigeria 🇳🇬

@user-qb6gu4bk9lBiafra 2 ай бұрын

Dangote is one of the biggest problem of Nigerians, he used to dine and win with the foolanis criminals foolanis terrorists to loot Nigerian resources, now he's facing he's criminal acts, what goes around comes around 🙄

@4chukwuebuka 2 ай бұрын

You don't know what you're talking about. Dangote messed up a lot of business competitors from eastern nigeria to create monopoly. It skyrocketed prices of many items like cement

@luke184lisa 2 ай бұрын

@@4chukwuebuka Hence “Business Competitors”.

@listenup2882 2 ай бұрын

Dangote should invest in countries that respect him as an entrepreneur. Go to Mali, Niger, Burkina Faso, Guineau, Tanzania. Nigeria just isn't ready.🇱🇨🇱🇨🇱🇨

@UnitedAfrica-uw9ct 2 ай бұрын

he is investing in Tanzania cement production there 7 factories in Tanzania including Dangote's , i hope he will get the gas production as it starts in Tanzania , we need African captains of Industries like Mr Aliko Dangote

@fransishallis5010 2 ай бұрын

Please tell Nigerian government to stop acting selfish and help their peoples.

@WonderWoman-so4mk 2 ай бұрын

Can't reason with puppets. It's their job to sell out. They have to be put in check by the people, as occurred in other countries historically.

@nestagoldly7279 2 ай бұрын

If it was any foreign company in Nigeria building such plant it would not be facing such problem but because its a Nigerian that why it facing such issues

@Ali-kr1eh 2 ай бұрын

Dangote dont need money. he want to play his role of industrialisation of african countries. The enemies don,t want africa to rise. Nigerian and other african should but end to tribial mentality.

@listenup2882 2 ай бұрын

Nigeria is such a frustrating space. Dinosaurs like Tinubu are so greedy and selfish that they don't mind their people suffering once they make money.

@KevinMarc-pt2tx 2 ай бұрын

There are many people who can become regulators, but only a few have the vision to invest and take risks. I think Nigerian regulators are either looking for ways to enrich themselves through bribes or are jealous of the investors and trying to bring them down. I have seen many videos about this man, and I am sad that he is not from my country.