Business & Finance

Nigerians Criticize Dangote’s Cement Price Gap: N5200 at Home, N1500 in Benin Republic

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Nigerians Criticize Dangote's Cement Price Gap: N5200 at Home, N1500 in Benin Republic

Nigerians have taken to social media to voice their dissatisfaction over a significant difference in cement prices set by business magnate Aliko Dangote within Nigeria and neighboring Benin Republic. The uproar began when a Twitter user highlighted the contrast in the cost of Dangote’s cement in Nigeria, where a bag sells for N5200, and its price in Benin Republic, a mere N1500.

The critique has prompted citizens to question the rationale behind such a pricing discrepancy, especially given that the cement is produced locally using domestic raw materials. This situation follows recent criticism directed at Dangote for employing 11,000 Indian workers in his oil refinery, raising concerns about employment opportunities for Nigerians.

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Critics are voicing broader concerns about monopolistic practices and economic inequality, emphasizing the need for fair competition, ethical business conduct, and transparency within the Nigerian business landscape. The allegations also touch on Dangote’s access to preferential foreign exchange rates, potentially providing him with an unfair advantage in business operations.

As reactions continue to circulate on social media, some commentators have gone beyond criticizing Dangote himself, urging Nigerians to reconsider their consumption choices and boycott all Dangote products as a means of holding the billionaire accountable for his business practices.

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The discrepancy in cement prices has ignited a larger conversation about economic fairness and ethical business practices in Nigeria. The call for equitable pricing and a level playing field remains strong, as Nigerians strive for a more just and balanced economy.

Source: IntelRegion

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