Ogun State, Nigeria — Tension gripped Kemta Division late Thursday night, December 18, 2025, after a dramatic incident involving the Secretary of the Ogun State chapter of the Nigeria Union of Journalists (NUJ), Mr. Adigun Bunmi.
According to police sources, at about 10:30 p.m., operatives on stop-and-search duty at the front of Kemta Police Station flagged down a blue Toyota Camry with registration number OG 16 A43. The driver, identified as Bunmi, allegedly conducted himself in a disorderly manner, raising concerns of a possible breach of public peace.
When directed to bring the vehicle into the station, Bunmi reportedly refused to comply. Instead, he allegedly whisked away Police Constable Adebayo Okikijesu, who had entered the vehicle to ensure compliance.
The situation escalated until the swift intervention of Kehinde Adebayo, a driver to retired Superintendent of Police Adeakiti, who pursued and blocked Bunmi’s vehicle about 200 meters from the checkpoint. In the process, Constable Okikijesu sustained an injury to his arm.
Police confirmed that Bunmi was immediately arrested and taken into custody. He is currently under investigation for attempted kidnapping, serious assault on a police officer, and deprivation of liberty. Authorities stated that upon conclusion of investigations, he will be charged to court.
We tried reaching out to Ogun State PPRO, DSP Babaseyi Oluseyi but his line was busy for over two hours.
Efforts to reach the Chairman of Ogun NUJ Council has been proved abortive, several calls have been made to reach him but he didn’t respond to calls.
In every society, the strong, weak , influencial , bridge builder and destroyers all these exist in a given community setting. They are seen as the voice of the people but necessarily it’s line of exit point is duly determine in the hands of the people’s supremacy.
Though as important as they’re in democratic dispensation, power and licences, it coexist in rugged limitations in the context of power play.
However, drawing an illustration will help to retrace, water the toxic test that might put party supremacy in danger through imposition , nepotism and bribery against the determine people of Agege.
The fire of the Agege Mafia’s are like god when it was spoken in one voice with the people playing by its sides not until the self acclaimed Agege god felt the people no longer matters but rather organize the beneficiary of the system against the people.
Unfortunately, the once united front in Agege are now divided. A divided house against itself will spell doom in the coming electioneering year. The merciless defeat of the Almighty APC by a simple movement of the LP in Lagos State the home front of the President, Bola Tinubu is an eye opener of the danger of imposition, nepotism and clannism.
It should be reminded that , democracy is a game of the people and the aspirants credence are determined by the people. In a situation where a popular aspirants is in the ring of contest, riding on the back of the people it portend danger if Agege Mafia’s will tend to undermine the people’s choice, through wicked prepositions of imposition and favouritism.
There’s no doubt that the battle line is set between the peoples determined choice and the best of the Agege Political Mafias within the same family! Taiwo Olasunkanmi Samuel a product of the Street and Abdulganiyu Obasa an abroadian a product of the West shouldn’t be a paraphernalia of a an Agege spirit; in a fair contest, failure is not an option. Politics is local not imposition , PBAT once taught us in the school of politics.
The insight of the danger it portend will be too many to handle if not put an end with the political shenanigan – Agege Mafia’s has forgotten that the street brought them to limelight and suddenly the street left them while they undermine the people …the street that made them.. What an irony!
The “Agege Political Mafia’s”, typically refers to groups or individuals who use political power or influence for personal gain, often through corrupt or coercive means. These groups can operate within governments, political parties, or other organizations, and their actions can have significant impacts on policy, governance, and society.
Some common characteristics associated with Agege political mafia’s include:
Corruption: Engaging in bribery, embezzlement, or other forms of corruption to achieve their goals.
Influence peddling: Using their positions or connections to influence decisions or policies for personal benefit.
Coercion: Using threats, intimidation, or violence to achieve their objectives.
Nepotism: Favoring family members or close associates for personal gain or power.
Lack of transparency: Operating secretly or obscuring their actions and motivations.
The effects of the Agege political mafia’s can be far-reaching, including:
Undermining democratic institutions: Eroding trust in government and democratic processes, these are very dangerous signals to APC as a party. A reminder to this, is one of the dangerous influence and traits that tear a once ruling Party apart…The PDP. the rest is history.
Inequality and injustice: Favoring special interests or groups at the expense of the Justice Forum , knowing fully well of the overfed Mandate Forum within the internal machinery and posting danger to the larger picture of the party. The Agege Mafia’s is aware of these dispositions but still want to jettisoned the undeniable facts. The hard experience of APC’s defeat to LP should not be forgotten in hurry in the last Presidential election.
Economic instability: Distorting markets and economic opportunities through corruption and favoritism.
Therefore, this is an appeal to President Bola Ahmed Tinubu to look inward that if politics is in the street and local which you taught us as our political father addressing Agege political mafia’s often requires a multifaceted approach, including:
Strengthening institutions: Building robust, transparent, and accountable institutions as the people choice remain sacrosanct.
Promoting transparency: Increasing openness and access to pure democratic credence ensuring that the voice of the people is sacred determinant as we remain your political children calling for your intervention.
Encouraging civic engagement: Supporting an active, as the party gear towards electioneering year Agege local government election is a litmus test.
Holding leaders accountable: Ensuring that those in power are responsible for their actions if anything goes haywire when we bury truth against the will and determination of the people’s choice. It must not happen before it is address accordingly.
The Way Forward, is to stop Aspirants imposition by the Agege Political Mafia’s against popular will to massage ego of a self acclaimed god, the wound of his return to office is still a crack in the wall that the President’s savvy managed well. This is a proof that the street have left them long ago. It should be known that internal democracy is the key to withstand any political opponents in general elections.
Allow qualified candidates in Agege to pick nominations forms
Provide a level playing field for all qualified candidates in Agege
Let the Agege voters decide who they want to govern them
Fear and Intimidation in coercing against people choice in a family affairs will worsen the tense situation in Agege , a twin neighbor of Alimosho is a very dangerous trend to experiment.
Therefore, the President Bola Tinubu should send an emergency call to the Agege Mafia’s not to dismantle the fragile bridge further as he solidify the party in love and genuine reconciliation for future elections.
Having said the above, then the will of the people, a new dawn and support of the party will be overwhelming that the APC is not only enriching democracy but the renewal hope of the people has come to stay. It’s therefore about the people’s supremacy and not political shenanigans and Agege Mafia’s clique.
Prince Tunde Aiyekooto Editor/Coo VOAR Worldwide writes from Agege , Lagos
The Economic and Financial Crimes Commission has summoned some officials of the Dangote Group to Abuja to come along with detailed documents on foreign exchange transactions by the conglomerate covering the last nine years.
Operatives of the EFCC had on Thursday stormed the headquarters of Dangote Industries Limited in Ikoyi, Lagos, in furtherance of the ongoing investigation into the alleged abuse of the foreign exchange allocations by the immediate past governor of the Central Bank of Nigeria, Godwin Emefiele.
The anti-graft commission is probing the alleged preferential allocations of forex to the Dangote Group owned by billionaire Aliko Dangote and 51 other companies under the Emefiele-led CBN.
It was gathered on Friday that the operatives carted away some documents from the group’s head office on Thursday, but they did not cover all the transactions, hence the decision to summon the officials to bring the documents to Abuja on Tuesday.
Saturday PUNCH learnt that Dangote was not in Nigeria when the operatives of the commission stormed the headquarters of his conglomerate as he was said to be in the United States of America. However, sources said he would return to Nigeria next week to personally sort out the problem.
It was also gathered that he was aware of the demands of the anti-corruption agency, but it could not be confirmed if he was informed before the EFCC sent its operatives to his company.
But a highly placed EFCC official said senior executives of the company had been mandated to supply the commission with what he called “detailed and unambiguous documents on the demands by the commission.”
It was gathered that the officials would be expected at the agency’s office on Tuesday.
“Yes, they (Dangote officials) asked for time to enable them to get all the necessary documents, which was granted. The idea is not to be seen to be witch-hunting anyone. What the commission wants is to get evidence and details of how government funds were allocated and that is all,” the EFCC official, who spoke to one of our correspondents on condition of anonymity because he was not authorised to speak to the media on the development, said.
An official of the Dangote Group also confirmed that some key personnel of the conglomerate were currently gathering the documents requested by the EFCC to clear the company of any wrongdoing.
The source noted that the firm had sent some documents and key members of staff to the EFCC headquarters in Abuja in respect to the ongoing investigation, adding that it was shocked that the anti-graft agency still stormed its Lagos office on Thursday.
The official stated, “Yes, we were aware of the ongoing investigation by the EFCC and our people were at the headquarters in Abuja with some of the requested documents as of the time its operatives invaded our Lagos office in what I will describe as a show-off.
“We are a law-abiding group, but it is difficult to get all the documents covering the tenure of Emefiele at once, but our people are working at night to get all the relevant documents, which will be sent to the anti-graft agency next week.”
The source added, “As of the time of the raid, our people were in Abuja. We have been sleeping in the office to make sure that we get all the documents the EFCC requires for the investigation.
“We are talking about documents from 2014 to June 2023. It is a lot of documents and it will take time to get all of them readily available. We have, however, sent the ones we have at our immediate disposal and they are with the commission.
“The raid was just a way of embarrassing us and an act of show-off. We are law-abiding people running a legitimate business and we are cooperating with the investigation.”
The source also added that Dagote was in the United States and was worried about the development.
Before the raid, Dangote Industries had in November 2023 refuted allegations that it was involved in forex malpractices and money laundering involving $3.4bn allegedly facilitated by Emefiele.
The company denied the claims that the money was channelled to its non-Nigerian subsidiaries, prompting illicit financial flows and round-tripping.
Dangote noted that its investment undertakings were sourced from the interbank market, with all transactions supported by Letters of Credit in line with international standards.
The search of the Dangote headquarters on Thursday, it was gathered, commenced around 3pm and lasted several hours.
During the raid, the operatives ransacked offices and carted away several financial documents related to forex allocations to the group from 2014 to June 2023, when Emefiele was suspended from office by President Bola Tinubu.
It was further gathered that the commission had asked the 51 firms under probe to submit Form A and Form M detailing the forex allocations to them between 2014 and June 2023.
But while some companies complied with the directive, several others were said to have asked for time to get the documents.
The Special Investigator on the CBN and Related Entities, Jim Obazee, had reported to the President how Emefiele allegedly lodged public funds in foreign currencies in no fewer than 593 bank accounts in the United States, United Kingdom, and China without the approval of the apex bank’s board of directors and the CBN Investment Committee.
Obazee found that the ex-CBN governor allegedly lodged £543, 482,213 in fixed deposits in UK banks without authorisation, adding that he allegedly manipulated the naira exchange rate and committed fraud in the e-Naira project.
The investigator in a report submitted to the President on December 20, 2023, recommended that Emefiele, who is being prosecuted for alleged N1.2bn procurement fraud, should face fresh charges over the handling of the naira redesign policy and alleged illegal issuance of currency under Section 19 of the CBN Act.
He also recommended that the ex-CBN governor should be prosecuted alongside Tunde Sabiu, a former aide and nephew to former President Muhammadu Buhari, and 12 top directors of the CBN.
Emefiele denied the indictments, describing the content of Obazee’s investigation report as “false, misleading, and calculated to disparage my person, injure my character, and serve the selfish interest of the private investigator.”
A top EFCC official revealed that the EFCC was probing the preferential foreign exchange allocations allegedly made by Emefiele in defiance of extant financial rules and regulations and the CBN Act.
The official claimed, “The EFCC is investigating the Dangote Group over the preferential foreign exchange allocations made by the former CBN governor, Godwin Emefiele, in defiance of extant financial rules and regulations and in disregard to the CBN Act.
“There are about 51 other big companies under probe over the development too, and the commission discovered that the allocations were not approved by the former President Muhammadu Buhari, so it was more of a means for the former CBN governor and his cronies to launder money through forex and Bureau De Change operators.”
Beware the fury of a betrayed friend. A patient, pitiless friend like Godwin Emefiele. The embattled former Governor of the Central Bank of Nigeria (CBN) may be out for blood amid his trial for fraud and official misconduct during his time as CBN head honcho.
Indeed, revenge is the sweetest morsel to the mouth that ever was cooked in hell. Against the backdrop of the invasion of Aliko Dangote’s office by operatives of the Economic and Financial Crimes Commission (EFCC), speculations are rife that the man hitherto regarded as Africa’s richest billionaire may have been thrown under the boss by the former CBN boss.
Sources close to the duo revealed that the EFCC’s three-hour invasion and ransack of Dangote’s office and archives, today, may be connected to his rumoured falling out with his ex-buddy and business associate, Emefiele.
The latter had reportedly reached out unsuccessfully to Dangote, from detention.
It is alleged that Dangote persistently snubbed attempts by the ex-CBN governor to get his attention; likewise he reportedly snubbed members of Emefiele’s family who tried to seek his assistance for their breadwinner who is currently facing trial for financial misappropriation, including a major transaction involving Dangote, during Emefiele’s tenure as CBN governor.
Frustrated, Emefiele reportedly started singing like a canary to the anti-graft agency, so doing, implicating a lot of his cronies and associates – many of whom have abandoned him in his hour of need.
Thus when the EFCC operatives stormed the Lagos head office of the Dangote Group to conduct a search on forex allocations to the company during the tenure of Emefiele as CBN governor, many concluded that its Emefiele hacking his pound of flesh of Dangote, who allegedly betrayed him. Dele Oyewale, the EFCC’s spokesman, has also confirmed the development.
It would be recalled that, on June 9, President Bola Ahmed Tinubu suspended Emefiele from office with immediate effect. This was disclosed in a press statement from Willie Bassey, the Director of Information for Secretary to the Government of the Federation, George Akume.
Emefiele’s suspension followed an ongoing investigation of his office and the planned reforms in the economy’s financial sector. Emefiele’s suspension and subsequent trial have been linked to a significant scandal involving the borrowing of $1 billion that occurred just before the inauguration of the new administration of President Tinubu.
Startling revelations emerged, shedding light on Emefiele’s actions in obtaining the funds. It is alleged that on April 24, 2023, after the elections and in preparation for the May 29 inauguration, Emefiele borrowed $1 billion from Afrexim Bank.
Shockingly, within two days of receiving the money, $750 million was swiftly transferred to Aliko Dangote’s Dubai accounts using a Form A transaction.
These revelations have sent shockwaves throughout the nation, raising concerns about integrity, collusion, and potential abuse of power. It is claimed that the Tinubu then the new President-Elect, was kept in the dark about this transaction.
The scale and method of the transaction are deeply troubling. Sources within the CBN suggest that Emefiele sold the dollars to Dangote at an exceptionally low rate of N445 Naira to the dollar.
On April 24, 2023, $1 billion was deposited into the CBN JP Morgan account from Afrexim Bank. Within two days, $750 million was transferred to Dangote’s Bluestar Dubai account using the “Form A” transaction method, bypassing the requirement of a Letter of Credit. Bluestar has had connections to Dangote since 2007.
While some CBN officials expressed concerns about these transactions, the revelations underscore the potential for money laundering and illicit activities within Nigeria’s financial system, casting a shadow on the CBN’s integrity during Emefiele’s tenure.
There is no gainsaying President Tinubu took decisive action by suspending Emefiele and initiating a thorough investigation of his tenure as CBN governor.
Emefiele, who is seeking a plea bargain in the criminal suit filed against him by the federal government is facing a 20-count charge over an alleged conspiracy to carry out procurement fraud, among others.
It would be recalled that both Emefiele and Dangote enjoyed a chummy relationship before Emefiele’s sack and subsequent trial and things went awry between them. Back then, no favour was deemed too much or expensive by Dangote as a means of oiling his relationship with the ex-CBN governor.
For instance, he saw nothing wrong in releasing his private jet, a couple of times, to Emefiele, who enjoyed unrestricted access to the aircraft.
Going about in Dangote’s private jet apparently made work easier for the CBN governor. He did not have to queue to board commercial airlines and he found it extremely comfortable and luxurious to travel in style aboard the aircraft of Africa’s richest billionaire and philanthropist.
Both men are definitely a long distance from that era and they’ve drifted far apart.
BUA Group Chairman has disclosed that the price of its cement will remain at 3,500 per bag going forward into the new year. Speaking to State House Correspondents after paying homage to President Tinubu in his Lagos home for the yuletide, the billionaire industrialist disclosed that it will not increase the price of its products even though there are hints that other manufacturers might tinker with their prices. According to him, BUA cement remains 3,500 Naira per bag plus VAT. There will be no price increase. He however hinted that given the fact that the new Sokoto factory just came on stream, transportation to other parts of the country may change the delivered price. According to him, products manufactured in Sokoto and sold in Sokoto will not be sold in Maiduguri at the same price.
He however emphasized the fact that the company’s new factory would ensure that it has a major say in the way the product is sold nationwide with the additional 6million tons its new factory is adding to the market.
The BUA Chairman has always been at the vanguard of appropriate pricing of his products by ensuring that the prices are pocket friendly. Towards the end of the year, he had singlehandedly forced other producers to take panicky measures by bringing down the price of cement at a time many never believed it was practicable.
To Abdul Samad Rabiu, it was his own way of helping the government and Nigerians to lessen the general hardship caused by the downturn in the economy.
ASR Begins Construction Of 2Billion Naira 120 Units Corporal And Below Quarters For Army In Abuja
The Abdul Samad Rabiu Africa Initiative (ASR Africa) has kicked off the construction of a 120 Units of Family Corporal and Below Quarters (CBQ) for the Nigerian Army with a groundbreaking ceremony which held at the Muhammadu Buhari Cantonment Giri, in Abuja today. The grant is part of the security support grant of 10 Billion Naira to the armed forces and security agencies, of which 2 Billion Naira was allocated to the Nigerian Army.
Speaking at the event, the MD CEO of ASR Africa Dr. Ubon Udoh reiterated that this donation is to further support security agencies as there can be no meaningful development without adequate peace and security in the nation. He commended the leadership of the Nigerian Army for prioritizing the welfare of the men and women of the Nigerian Army, and promised continued support by the ASR team in ensuring the full implementation and delivery of the project.
The Chief of Army Staff, Lieutenant General Taoreed Lagbaja, appreciated the Chairman of ASR Africa and BUA group, Abdul Samad Rabiu, for his kind and rare gesture to the Nigerian Army. He added that this support will further boost the morale of the personnel in delivering adequate security to Nigerians. The high point of the event was the laying of foundation for the 120 Units of Family Corporal and Below Quarters (CBQ) by the MD/CEO of ASR Africa, Dr Ubon Udoh and the Chief of Army Staff, Lieutenant Gen. Taoreed Lagbaja. In attendance also were the Chief of Policy and Plans, Major General B. R. Sinjen; the Chief of Logistics, Major General E. Akerejola and other senior officers of the Nigerian Army, and the ASR Africa team.
ASR Africa is the brainchild of African Industrialist, Philanthropist and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based, homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa.
The attempt to paint itself as the offended by Dangote in a recent 7-page advertorial has been exposed by BUA Group in a press statement chronicling how since 1991, Dangote has done everything possible to ensure that BUA does not compete with it in any of the areas where they both undertake business.
BUA in its response revealed how it started out as a commodity trading company and in 1991, Dangote approached it to buy products only to issue a bounced cheque which was rejected by Societe Generale Bank.
Despite this, Dangote went to court to to secure an exparte order to garnish BUA account and ensured that BUA’s business was frustrated since they were the only ones that had sugar at that time. It was BUA’s first encounter with Dangote’s traps.
The court papers chronicling the case are attached. The company survived the baptism of fire.
As if this was not enough, when BUA, years later, attempted to expand by opening a sugar refinery in Lagos, leasing 4.5 hectares belonging to Dangote’s uncle Usman Dantata, the billionaire waited until the lease was signed, and equipment moved to site before approaching the then President Obasanjo who directed NPA to revoke the ownership of the land, and gave the same land to Dangote that same day. Recall that the land initially belonged to his uncle, Usman Dantata who after the incident retired to KANO and died in agony of what happened.
Dangote used his contacts in government to frustrate a competitor. It took a whole year to eventually secure land as the Chairman’s late father had to come to his rescue by closing one of his thriving businesses in Lagos and gift the land to BUA Chairman, Abdul Samad Rabiu. This is the story behind the Lagos sugar refinery and Dangote’s various efforts to ensure the dream never materialised.
BUA also revealed how it ventured into cement industry in 2007 after the late President Yard Adua in a bid to break the monopoly in the sector granted licences to six other companies. BUA’s innovative efforts in using a floating terminal as its cement factory met with resistance. It was not allowed to operate in Lagos and when it moved to Port Harcourt to berth in a terminal owned by the company those who felt threatened ensured that it would not operate until the late President Yar Adua had to wade in and asked the Minister of Transport and NPA to allow the company breathe.
Despite Yard Adua’s intervention, they still went ahead to use a DCG in Immigration Department, Orwell Brown to frustrate BUA by abducting the company’s expatriate staff, and attempted to return them to Asia after flying them from Port Harcourt to Lagos. Tickets for the flight to Asia were believed to have been purchased by Dangote. Information later leaked that the DCG operated in agreement with his brother who was a top Dangote staff. It took the intervention of the then Chief Economic Adviser, Tanimu Yakubu who called the Immigration CG to stop the illegal deportation while the President moved in by sacking the compromised DCG.
BUA also chronicled how Dangote did all he could to ensure that the company’s cement plant in Edo did not take off but for the intervention of President Buhari who had to call Governor Obaseki to ensure that no staff lost their jobs and the plant must not be shut down. Leaked mails indicating how Dangote staff sponsored thugs against BUA factory are also available in public media sphere.
Again when BUA attempted to open its Port Harcourt sugar refinery which is today, West Africa’s largest, and the only one outside of Lagos, Dangote did everything to stop the project. It took the intervention of the Presidency for BUA to have its way. Obviously, Dangote has always been scared stiff of competition and Dangote Group’s relationship with BUA in the last 32 years revealed much of this.
In its response to Dangote’s sponsored advert, BUA claimed it has survived not on patronage but because it is committed to innovation, integrity and inclusiveness and everyone seems to agree with this. ‘Our history is not one of being handed anything on a silver platter’. The statement further revealed how in the years between 1991 and now the ‘company has been cast as the antagonists in a narrative woven with malice’.
BUA urged the Dangote group to play the game by the rules, urging that, ‘while we may share the marketplace, we need not share malice’, adding that it had nothing to do with Dangote’s current self-inflicted issues.
The BUA Group has responded to an article published by Sahara Reporters today alleging that FIRS demanded a payment of 198.7Billion Naira being estimated tax for 2022.
According to the statement from the conglomerate, in the exchange of communication between BUA and FIRS, the company had denied the 1Trillion Naira as alleged by the tax body stating categorically that it’s books are available for all to see.
The company also revealed that it had reacted to the FIRS letter quoted in the article since the premise given for the humongous tax of 198.7Billion which was the alleged 1Trillion turnover never existed.
Attaching both copies of the FIRS letter dated 19th September and their reply dated 25th September, the company wondered why those who leaked the FIRS letter forgot to leak its reaction if not for mischief.
Clarifying the alleged ultimatum, BUA also stated that it was rather a deadline to respond to inquiry rather than to make payment as alleged in the Sahara Reporters hatchet job article. Going further BUA stated that as a responsible corporate entity, it is committed to fulfilling its statutory obligations to FIRS and other corporate bodies in Nigeria, and this includes payment of its tax as at when due, but the publication was indeed a gross misrepresentation of what transpired in tye exchanges between the organization and FIRS.
Events in the cement sector in the last couple of weeks have been really worrisome.
Ever since BUA Group Chairman, Abdul Samad Rabiu disclosed that his products would be sold at 3,500 per bag, the other players in the industry have been jittery. First, the media was and is still agog with rhetorics over whether the price reduction was possible and feasible.
Obviously, most of these did not come from outsiders in the industry but sponsored by industry leaders who feel threatened. Because these have not worked, stories of BUA Cement unavailability started circulating, also from the same sources.
Meanwhile, investigations revealed that BUA Distributors in EDO, Sokoto and some other parts have been picking their supplies at 3,500 per bag. Indeed one of them,
Mike Igwe, a distributor who spoke with us confirmed that ever since the price was reduced, he has been buying at that price and that those who claim that BUA is yet to effect the price change don’t know what they are saying.
According to him, ‘the other manufacturers have reasons to be afraid. They are definitely going to lose out in the market’. Who will abandon where he’s buying for 3,500 NAIRA per bag and go to Dangote where he will pay over 5,500 Naira? he further asked. Speaking further the Benin-based cement dealer suggested that road transportation, especially the bad roads occasioned by the rains could have been the reason why other parts of the country did not immediately enjoy what he and many other distributors around had been enjoying. However with the rains already going, other parts of the country, must have started receiving their supplies at the new price. He also figured that BUA must have jerked up production to meet the increased demand as more buyers are switching over.
Other distributors we spoke with revealed that Dangote specifically has come under intense pressure since the price reduction by BUA and has been looking for ways to ensure that he does not lose customers. They confirmed that Dangote has been giving out one free truck for every seven trucks bought by distributors, all in a bid to ensure that he saves his face. But, according to builders we spoke with, this form of tokenism will not trickle to retailers and there is no way the consumers can feel it either. This is because if you give one truck to a distributor who bought seven trucks, he will prefer to sell rather than give away the cement.
There is no doubt that Dangote and Lafarge’s reaction to BUA’s decision to cut the price of cement really betrayed their position vis a vis the current situation in the country. Nigerians need succor from all fronts. They need business leaders who can rise above money making interests and feel for the people.
Both organizations have been jittery and have resorted to arm twisting BUA rather than taking concrete steps to try and maintain their share of the market. It is also worthy of note that sponsored analysts are springing up to make wild claims that the price cut is neither practicable nor sustainable. This, industry players know is coming from those who feel threatened by the BUA move.
For Dangote, many distributors saw this opportunity as a major step towards moving away from the company’s high handed practices. Those who spoke with us pointed to the fact that they cannot pay cash to him but only credit.
According to them, Dangote will always hold on to their cash whenever price changes. He will hardly make refund if there’s increase in price unless you pay the extra money added on top.
This is unlike the practice with BUA where they supply you the goods with the old price even if there’s price increase. And given the volatility of the market presently, with BUA Cement promising to reduce the price further when they hit the 17million Tons per annum target, no one will like to be caught off guard.
Nigerians need to mount pressure on the other major cement manufacturers to join BUA in reducing the price of cement.
The pressure created by the BUA move could be seen in the number of times Dangote has come out to deny any form of price increase.
Meanwhile, rather than decreasing the price so that the masses can benefit, he has decided to gift distributors one truck each if and when they buy seven trucks.
His intransigence and unwillingness will further make the market volatile, unpredictable and consumers may continue with this till first quarter of 2024 when BUA hits the 17million tons per Annum target and force all of them to drop prices to the 3,000 NAIRA per bag which Abdul Samad Rabiu promised Nigerians.
The dilemma the other manufacturers face now is that prices are already coming down and this trend will continue as BUA cement gets supplied at the new price all over the country.
Ever since the bombshell dropped by BUA Group Chairman, Abdul Samad Rabiu that he was bringing down the price of cement there has been clamour for the reduction of Dangote Cement price. This is because he controls the larger share of the market and if BUA can bring the price down, there is no reason why other major stakeholders cannot do same.
Rather than take a cue, react to what BUA has done, Dangote has unfortunately kept quiet with a view to maximizing on the price disparity.
Unconfirmed reports claim that cement dealers as well as distributors have been rebagging BUA Cement and selling it as Dangote Cement thereby making the BUA brand unavailable. This according to our findings is to ensure that they make more profit from the current situation.
Investigations also revealed that some of the marketers have been claiming that they have not had supplies from BUA cement and so they cannot sell at the new rates.
Our findings however negate this. What we see in all these are attempts by marketers to make unnecessary gains at the expense of the common man.
Nigerians from all walks of life have been calling upon Dangote to adjust his own price to reflect the new reality. His refusal is giving the marketers and distributors the leeway to rebag and sell BUA products as if they are his own at exorbitant price to Nigerians and he’s making huge profit at the expense of Nigerians.
Only yesterday, Real Estate Developers Association of Nigeria, REDAN joined many stakeholders to urge Dangote to bring down the price of his own product so as to reduce the burden on Nigerians.
While commending Abdul Samad Rabiu for bringing down the price of cement to 3,500 naira, REDAN President, Dr Aliyu Wamakko who is also the Chairman/Chief Executive Officer of Jedo investment challenged Aliko Dangote and others in the cement business to emulate BUA.
“We in REDAN commend Abdul Samad Rabiu for his integrity, his tenacity and for being a fairly business person, and for that reason we call on other gladiators in the built industry that produce’s building materials to follow suit, somebody like Dangote and the rest of the people producing cement and other building materials in the country .
Many more groups are clamouring for same.
Building experts believe that if DANGOTE does not act on this, it simply means he doesn’t have the interest of Nigerians at heart and the industry will be plagued with crisis soon. A situation where two major players are selling virtually the same products at such different prices will ultimately play into the hands of unscrupulous distributors who will try to maximize by selling the cheaper ones at a costly price to make more profit, they added.
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