I read the financial statements of cement companies and saw massive opportunities therein; Dangote Cement paid N40 billion income tax when all the leading banks combined for around N42 billion in Q1 2021. Yes, if Nigeria is a developing nation, and sub-Saharan Africa still developing, cement is it. Then add building materials.
I feel confident that we can hit great numbers on this business. To Tekedia Capital members, feel free to reach out, I will explain what we are doing and the roadmap of this playbook and investment.
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Dangote and Rabiu are doing a lot of heavy lifting not many people are willing to engage in, but it’s very easy to accuse them in few years time for ‘cornering’ everything and having too much power. Nigeria is crying for investments in the manufacturing sector, yet not many Nigerians care. As the two titans ramp up capabilities in key sectors, more import restrictions will come, and no one can complain, because that’s how every major economy evolved.
If you are importing a product in large quantities for five years, and you do not think of setting up a local plant, then we need to question your business acumen. Some have done almost the same thing for decades, only to blame the government for any policy they consider unfavourable; unfortunately economies don’t operate that way.
Around 70% of LPG consumed here is still imported, yet we still think that Nigeria is not ripe for business? Almost all the essential things we need here are in short supply, yet bunch of our compatriots prefer hawking dollars, rather than getting involved in meaningful things that lift societies and advance wellbeing. Today, exchange rate is no longer based on actual needs, but who can outdo others on hawking and roundtripping, our essence of existence remains questionable.
We will be canonizating new saints and heroes, and they will be strictly those whose works and endeavours improve lives in their thousands and millions; no stories.