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Dangote’s Suit Against Ibeto Is Anti-competitive – FG - Business - Nairaland

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Dangote’s Suit Against Ibeto Is Anti-competitive – FG by BlackPikiN(m): 12:12am On Jul 10, 2012
The Federal Government has described a lawsuit brought against Ibeto Cement Company by Dangote Cement as anti-competitive.
In the suit, Dangote is seeking the withdrawal of an import waiver granted Chief Ibeto by the Federal government. The suit also seeks to have Ibeto Cement Company refund billions of Naira to the Federal Government as unpaid taxes and import duties.


Also named as defendants in the suit in which Dangote Cement is the plaintiff are subsidiaries of Ibeto: IBG Investment Limited, Derima Ventures Ltd; Federal Republic of Nigeria, Attorney General of the Federation, Federal Ministry of Finanace, Federal Ministry of Trade and Investment, Board of Customs and Excise, Federal Inland Revenue Service and Nigerian Ports Authority.

In the suit Dangote alleges that Ibeto and his co-defendants colluded to give Ibeto companies an unfair advantage by reducing his tax exposure on bulk cement imports to 5% only. Dangote claims this contravenes a presidential directive issued on July 8th 2010 which ordered importers to pay 20% import duty and 5% Value Added Tax.


The plaintiff asked the court to order the Federal Government to recover the duties and taxes owed by Ibeto and to obtain a further refund of N 7.8 billion paid the company by the government as a result of an earlier court judgement.

[size=20pt]
The Federal Government in its counter affidavit has asked the court to dismiss the suit stating Dangote’s claims were “anti-competition and designed to control the entire cement industry and leave Nigerians at the mercy of the plaintiff’s (Dangote’s) price whims and caprices.”[/size]



http://africanheraldexpress.com/blog7/2012/07/05/dangotes-suit-against-ibeto-is-anti-competitive-fg/
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by aryzgreat: 8:02am On Jul 10, 2012
stupid and monopolistic dangote! from today u av lost a customer! !diot!

14 Likes

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by Ogbonaikenna(m): 8:11am On Jul 10, 2012
Thank you Gej

3 Likes

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by ebere1712: 9:23am On Jul 10, 2012
F*ck this dude for trying to strangle competition

2 Likes

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by NeuroBoss(m): 10:26am On Jul 10, 2012
The proverb, ''live and let's live'' cannot be more truer. I have always known capitalists to be of manipulative tendencies due to their political clouts and connection. Dangote has been allegedly accused of killing competitors businesses in the past. You heard about the killer indomie, didn't you? That what was when Dangote was about launching his spaghetti. What about the threat to the life of BUA's chairman if he dare venture into cement production. In this suit against Ibeto, Dangote is jealous and selfish to think that he alone can benefit from waivers. The Aboki is suffering from na-only-must-dey-chop syndrome, a condition that dwarfs the Nigerian economy.

7 Likes

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by denixii: 11:26am On Jul 10, 2012
aryzgreat: stupid and monopolistic dangote! from today u av lost a customer! !diot!
hahahaha...u don vex.
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by midiwifi(m): 11:34am On Jul 10, 2012
Dangote is a self centred egocentric nincompoop. What mo does he want in life? I guess if he has the opportunity, he will ask Nigerians to pay for the air they breathe. SMH
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by Nobody: 11:36am On Jul 10, 2012
What a greedy bas.tarrd...a billionaire wt so much goin for him cant evn allow another man prosper too...wot a heartless id.iotic sicktard
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by OdenigboAroli(m): 11:43am On Jul 10, 2012
With all the money he has ? I thought Dangote was a cool guy! Hausa/Fulani and their born to rule mentality... If Dangote continues like this he will have nothing but down fall.
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by achi4u(m): 11:44am On Jul 10, 2012
See aboki and business brain.
I use to eat ur indomie but...
fvck off.

onye ara

1 Like

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by AdeniyiA(m): 11:53am On Jul 10, 2012
are human beings selfish in nature?. what else does he want to achieve? SMH

2 Likes

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by Nobody: 11:54am On Jul 10, 2012
Dangote is just a dreamer. Him and ibeto who started cement business first?. Ma craze de worry the man finally. FG well done and that court should with immediate effect dismiss that case period
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by inspirenet: 11:54am On Jul 10, 2012
midiwifi: Dangote is a self centred egocentric nincompoop. What mo does he want in life? I guess if he has the opportunity, he will ask Nigerians to pay for the air they breathe. SMH


undecided
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by clemmonce(m): 11:56am On Jul 10, 2012
NOW I UNDERSTAND.
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by Ganys: 11:57am On Jul 10, 2012
achi4u: See aboki and business brain.
I use to eat ur indomie but...
fvck off.

onye ara

I use to eat ur indomie You mean Dangote Indomie??
Bros, You fall My Hand oooh grin lipsrsealed

2 Likes

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by samkoro: 12:03pm On Jul 10, 2012
I wonder what he is going to do with his largest money in Africa.What a greed fellow.In a 1994 interview he granted a daily paper he bragged about being a core capitalist that always intends to brush competitors off his way thru price manipulation.But,rather,he does that through unconventional and unethical method.He is always afraid of Ibeto.He masterminded the seizing of Ibeto's ship loads of cement that lead to astronomical demurhage for the guy,durring OBJs regime,cos he imported so much that could crash the price of cement.The shipload was released by Yaradua,s administration after many years.

3 Likes

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by ideaz: 12:03pm On Jul 10, 2012
If this is really FGN position then I think there is still hope for Nigeria.

1 Like

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by PHIPEX(m): 12:04pm On Jul 10, 2012
In the suit Dangote alleges that Ibeto and his co-defendants colluded to give Ibeto companies an unfair advantage by reducing his tax exposure on bulk cement imports to 5% only. Dangote claims this contravenes a presidential directive issued on July 8th 2010 which ordered importers to pay 20% import duty and 5% Value Added Tax.


The plaintiff asked the court to order the Federal Government to recover the duties and taxes owed by Ibeto and to obtain a further refund of N 7.8 billion paid the company by the government as a result of an earlier court judgement.

When did Dangote become the Attorney-General or an Activist that he is now the one to determine who should refund money to the government and who should not? If he loves the progress of Nigeria this much why didn't he reduce the price of his cement to benefit the poor? Its unfortunate that his dream of becoming the richest man in the World is under threat and Obj is no where in sight to rescue him as usual. Ibeto better be careful because if dangote losses this legal battle he may resort to illegal battles. Capitalists and greed are cousins!

5 Likes

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by Okijajuju1(m): 12:05pm On Jul 10, 2012
Its nice to see the Federal Government standing up for the Igbos.. This must be the FRESH AIR they were telling us about...!!!

#TakesAdeepBreath..
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by hienyimba(m): 12:06pm On Jul 10, 2012
Dan,Dan,Dan
how many times did i call you?
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by hienyimba(m): 12:07pm On Jul 10, 2012
The truth is that the method being used by Dan is not so good.but by the way this Ibeto of a chief why should he evade taxes? And when Dangote tries to xpose him evryone goes against him forgetting that he is one of the most erudite Nigerian of our time,entrepreneur,capitalist cum industralist who has catapulted our nation to limelight,development and employment,you name it!! Well,this rumble going on is just one of the features of being an entrepreneur(tryin to stiful competition)...i just think he should change his tactics by slashin prices e.t.c (remember John D. Rockefeller who was sued for monopoly,was the richest man in history & is the reason why anything apart from petrol and gas comes out of crude oil)...
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by Nobody: 12:08pm On Jul 10, 2012
Cletus Ibeto
From Wikipedia, the free encyclopedia
Jump to: navigation, search

Cletus M. Ibeto (born November 6, 1952) is a Nigerian businessman from the industrial city of Nnewi. He is head of The Ibeto Group, the largest business enterprise from Nnewi, a city unique for its entrepreneurial spirit. In the early 1980s, when the oil crash and a controversial import licensing system was making a dent on the Nigerian manufacturing environment, Nnewi went through a growth period. The Ibeto Group under the leadership of Cletus Ibeto was a pace setter in the region and nation's trading and later manufacturing development.
Contents

1 Early history
2 Honours
3 Ibeto Cement Company
4 References
5 External links

Early history

Cletus Ibeto started out as a spare parts import dealer, after spending some time as an apprentice in the motor parts business, a gradual step taken by many eastern traders. In March 1988, he stopped direct importation of lead acid automotive battery and plastic motor accessories after completing his factory in Nnewi. By 1995, The Ibeto Group had become one of the largest auto spare parts manufacturing outfits in the country.

On October 2, 1996, he established Ibeto Petrochemical Industries Ltd. which is engaged in the blending of oil lubricants as well as the production of various types of petroleum products for local and international markets. The Company owns the largest liquid storage facilities for petroleum products in Nigeria with a capacity of over 60,000 metric tones located at Apapa Wharf and Ibru Jetty Complex, Lagos.
Honours

In 2008, Mr Cletus Madubugwu Ibeto received the national honour of Order of the Officer of the Niger [OON] from the Federal Republic of Nigeria for his outstanding contributions to the country through his manufacturing enterprise.
Ibeto Cement Company
This article primarily may relate to a different subject, or to only one aspect rather than the subject as a whole. For more details see WP:COATRACK and WP:POVFORK. (July 2010)

Ibeto Cement Company Limited was incorporated in year 2002 in response to the Federal Government clarion call on indigenous entrepreneurs to go into cement bulk breaking and bagging. The Company has an ultra-modern cement bagging terminal at Bundu Ama, one of the suburbs in Port Harcourt metropolis. The project with a purpose built Jetty was completed on 26 June 2005 and currently has a production capacity of 5,400 bags of cement per hour. This facility apart from being the biggest in the West African sub-region, is also the most mechanized, modern and environmentally friendly. It is currently developing its Green Field for cement production at Ishielu in Ebonyi State. When completed, the cement manufacturing plant will have a 5 million MT production capacity when it goes into full production.

http://en.wikipedia.org/wiki/Cletus_Ibeto


My comment

Ibeto is now in full throttle to become an arch competitor to Dangote. Ibeto would had done this 5 years ago but he fell out with Dr. Andy Uba, who personally strangled him and rendered his cement company ineffective. Instead, Dr. Uba threw all support for Dangote, which explains the industry monopoly today. However, since 2011, Dr. Andy Uba and Ibeto have reconciled, he now has Dr. Uba support and connections behind him.

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by slimyem: 12:10pm On Jul 10, 2012
achi4u: See aboki and business brain.
I use to eat ur indomie but...
fvck off.

onye ara
how do you eat that tasteless nonsense?
Pue!
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by slimyem: 12:12pm On Jul 10, 2012
Okija_juju: Its nice to see the Federal Government standing up for the Igbos.. This must be the FRESH AIR they were telling us about...!!!

#TakesAdeepBreath..
funny!cheesy
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by spendogram: 12:15pm On Jul 10, 2012
But why are you guys not asking if dangote's allegations are true? Does any part of our constitution ask you to allow yourself to be cheated just because you already have more than the other man? Isn't it unlawful to selectively decide how much tax each individual pay without recourse to the tax policies ? If the government gets away with the Ibeto case, we would have prepared grounds for further serious corruptions as your tax burden will no longer be based on government policies but on man-to-man negotiations.We know what that means...

My point is:
If government wants to encourage smaller businesses to grow they should make policies to support it. Not allow individuals personal favors.

FYI:
I believe that dangote may be more guilty of using unfair advantages than most other businesses but two wrongs don't make a right.

1 Like

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by Nobody: 12:16pm On Jul 10, 2012
Stop attacking the person of Dangote. In business, competition is considered healthy, and the parties always try to outwit each other, not only in Copyrights litigations,but also adverts and price wars. Its nice to have the Feds step in the aid the major competitor Ibeto have a breathing space. Dangote Group, take it easy.
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by basher(m): 12:18pm On Jul 10, 2012
BlackPikiN: In the suit Dangote alleges that Ibeto and his co-defendants colluded to give Ibeto companies an unfair advantage by reducing his tax exposure on bulk cement imports to 5% only. Dangote claims this contravenes a presidential directive issued on July 8th 2010 which ordered importers to pay 20% import duty and 5% Value Added Tax.

Why is the FG reducing Ibeto's tax exposure to 5%? Two wrongs don't make a right.

1 Like

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by emmykk(m): 12:20pm On Jul 10, 2012
For dangote to have done this,since he is a capone in all these type of runs there must b element of true o.hope gej dont hv stake in ibeto.no 1 should evade tax like brimoh jimoh air nigeria o
Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by Nobody: 12:25pm On Jul 10, 2012
Dr. Andy Uba is also behind the sudden rise of this young Nigerian Billionaire, Chief Ifeanyi Uba, CEO of Capital Oil and Gas. He has surpassed Femi Otedola, Sayyu Dantata and many other major downstream oil and gas players. He currently building the largest oil facility in Africa.

http://www.tribune.com.ng/sun/sunday-business/1206-ifeanyi-ubah-building-africas-largest-oil-facilities


Dr. Andy Uba is also the invisible brain behind Orient Petroleum Resources Limited, headed by former secretary general of the Commonwealth, Chief Emeka Anyaoku. The company had discovered oil in Anambra state years ago and will begin production soon. Its also set to commission its refinery this year.

GIVING ALL PRAISE AND GLORY TO DR. ANDY UBA!

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by Nobody: 12:26pm On Jul 10, 2012
basher:

Why is the FG reducing Ibeto's tax exposure to 5%? Two wrongs don't make a right.
Not wrongs, I think its a way of aiding less opportuned companies stand on fit to function in the competition, it is actually supposed to be appreciated as it might help bring the price of cement down. A bill of that nature was introduced in USA during the Bush era tax cut on the middle class and the poor. And its same thing Obama is proposing now to US senate when its present tenure expires October. Its a commendable act by the Feds, to intervene on this case.

1 Like

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by Nobody: 12:28pm On Jul 10, 2012
The Architect behind all these: Dr. Andy Uba!

Re: Dangote’s Suit Against Ibeto Is Anti-competitive – FG by rasputinn(m): 12:30pm On Jul 10, 2012
This is the reason I always decline refreshment on any domestic flight that serves dangote juice by whatever name they go,I make it a point to let the stewards know I'm averse to consuming dangote juice

The man is evil

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