Cementing Dangote's Oligopoly and Nigerians In Poverty: CBN Bans Importation of Cement

The June 23rd ban on importation of cement and 39 other items contained in a letter by the Governor of the Central Bank of Nigeria has been received with mixed feelings.

The extensive list does contain some necessary bans which will help Nigeria's small scale industries, the number one employer of labor in the staggering nation, however, not unexpectedly, hidden within the list of banned items are additional skews to secure the stupendous wealth of Nigeria's known cabal and ensure the continued crippling of the Nigerian masses.

It is the nature of the world today where the masses are naked and exposed to the greedy and insatiable desires of the cabal elements with no form of protection other than the wailing voices of overburdened right advocates.

We Are Actually The Largest Employers Of Labor In Nigeria, Not Dangote And Other Cabal

There is a lie oft told, and as they say, if a lie is told so many times it becomes truthy (that new lingo dedicated to George Bush in his pursuit of the war against Iraq). That lies is that Dangote and Atiku are the biggest employers of labour in Nigeria. It is a colossal lie. Whereas these two cabal employ under 100,000 Nigerians combined, we are actually the largest employers of labor... yes, we the ordinary people, the several million SMEs. SME stands for Small and Medium Enterprises; not the large industry. The cottage manufacturers and cottage service providers. It is us who employ over 30 million Nigerians, the real numbers that count, not the ever protected cabal who employ only a handful of us yet are always benefactors and influencers of government policies while we are never invited to the meetings and get no perks.

So while industries like toothpicks, glass wear, textiles, meat products and others in the ban list, that are the occupation of SMEs is a useful drive that will actually protect the Naira and drive employment, the ban of the importation of cement added to the list, an absolute oligopoly that Nigeria has criminally bestowed on Dangote is a stab in the hope and future of Nigeria and another gift of the earnings of the masses to our billionaire, insatiable cabal.

It is a conspiracy to defraud the masses for the government to protect and enforce the purchase of a singular private, unregulated oligopoly. The Central Bank is in this June 23rd decree engaging in conspiracy to defraud Nigeria's poorest and maintain unbearable hardship on Nigerian property owners, property hopefuls, renters and property investors. Indeed every Nigerian is being robbed and punished by this CBN move.

It must be noted that manufacturing is never by force as there are various types and other options for economies; indeed manufacturing is no longer synonymous with development as advanced economies are now 'service' based and not industry-based. And industry which leads to environmental pollution and degradation is only of value if it provides items at prices within global competitive costs.

Nigeria Gave Dangote Cement Billions To Sell Us Cement At Triple The Global Average

Through the years, Dangote cement has been given numberless government perks and gifts. The spoiled company has been given gas power, given duty free import waivers to enable it import needed and un-needed machinery and equipment, literally running its own private and unregulated sea port. Dangote as with other cabal, the smallest employers of Nigeria as earlier mentioned have been given bailouts -- gifts of billions of dollars, an advantage we the largest employers never benefit from. Dangote cement has been literally dashed Nigeria's cement plants. The company has benefited from policies that frustrated its competitors and importers of cement. And in return, this private company has decided to cut up billions in quarterly profits to its PDP, private bank (Zenith etc) and other government parastatal shareholders via selling cement at thrice the global average, rather than offer Nigerians cement at a world lowest price to show appreciation for the billions in concessions we have given it.

When compared for instance, in the UAE, Etisalat is majorly government owned, so when its oligopoly is enforced this provides wealth to the State, and wealth that has been used to build world renowned and recognized infrastructure and provide enviable benefits to its people. But in the Nigerian case, like the masses are fools, the government invests in private oligopolies and forces the masses to patronize these exploitative profiteers to no personal benefit... except hearing the cabal owners' names listed in Forbes as the world's top billionaires who made money from the sucking dry and murder of the Nigerian masses.

The Dangote Oligopoly Has Crippled Nigerian Construction And Foreign Investment

Not only have Nigerians been unable to build and repair their homes because we are forced to buy Dangote cement at twice and thrice the global average cost, while watching the company divide massive quarterly dividends; and not only have we been forced to scrounge our cement, which has led to our homes collapsing and people dying; but also foreign companies have rejected building in Nigeria and rather opted for South Africa because of the cost of cement in our dear nation.

So while Godwin's ban on products that will allow healthy competition and opportunity for growth of Nigeria's number 1 employers, us SMEs, the deliberate inclusion of bans to further deflate the masses and sure-up the exploitation by the cabal oligopolies is another straw on this camel's back. Perhaps the straw that will break its back.

On a final note, one has to ask: who is at these Zenith bank's Godwin CBN meetings where he comes up with these policies? Dangote, Jonathan, Obasanjo and who? Is this how a democracy is run? There is God.

Dr. Peregrino Brimah

http://ENDS.ng [Every Nigerian Do Something] 

Email: drbrimah@ends.ng Twitter: @EveryNigerian