DANGOTE REFUTES CLAIMS OF MONOPOLISTIC PRACTICES, EMPHASIZES COMMITMENT TO FAIR BUSINESS

Newslens NG reports that Nigerian and Africa’s richest man, Aliko Dangote, has addressed recent accusations of monopolistic practices within his business group, expressing disappointment over the claims.

This Nigerian newspaper platform reports that in a press briefing, Mr. Dangote stated, “We are always the first movers, just as our vice president likely said, and we have never stopped anybody either consciously or unconsciously from doing any business like we are doing.”

He further explained that prior to their entry into the cement production industry, Lafarge was already operating in Nigeria. “When we first came into cement production, it was actually only Lafarge that was operating here in Nigeria. Nobody ever called Lafarge a monopoly,” he noted. “But when we set up our first production plant with a capacity of 5 million tons against less than 2 million tons of local production, people started saying ‘Monopoly, monopoly.’”

Mr. Dangote expressed his frustration, saying, “This is disheartening when people keep talking about this monopoly. Monopoly is only when you stop or block them through legal means. This is a level playing field, where whatever Dangote was given in cement, for example, others too were given, maybe even more than us.”

Addressing concerns about the Dangote Refinery, he firmly stated, “In the refinery, we did not and I insist we did not collect one single incentive from the federal government and even Lagos state government. Yes, the Lagos state maybe gave us a good deal, but we spent 100 million dollars for the land; it wasn’t a free land, we paid for it.”

Mr. Dangote also assured Nigerians that the production of Premium Motor Spirit (PMS) would commence in August, explaining that the delay was due to a fire incident at the refinery.

This statement aims to clarify Dangote Group’s stance and commitment to fair business practices while addressing the misinformation surrounding their operations.