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.
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."
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Dangote’s Suit Against Ibeto Is Anti-competitive – FG.
Dangote’s Suit Against Ibeto Is Anti-competitive – FG.
NigerianEye
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Tuesday, July 10, 2012
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y is Dangote crying when we all knw that he has always enjoyed a monopoly.
ReplyDeletelousy guy-that Dangote--Are Nigerians to be at his mercy and his price fixing monopoly? The guy is in EVERYTHING!!
ReplyDeleteThe height of greed. So this guy wants to monopolize every sector of the economy.
ReplyDeleteLet Ibeto Cement and other Cement Companies be given more tax rebate so that they can be more competitive and create more employment opportunties for Nigerians. If Dangote has never sinned against Nigeria that way, let him be the first to cast the stone.
ReplyDeleteNonsense suit. He thinks he can continue to enjoy monopoly as he did during Obasanjo's time.
ReplyDeleteDangote is the one man that is hiddering the ecomomy of this country by way of monopoly.a business man dat dont like competion is not a business man. God will soon judge him n his cohort.
ReplyDeleteDangote had been enjoying a lot of waivers for more than 10 years. Why is he so jealous and callous?. He should be told that he cannot continue to monopolize the whole economy. Let FG please open up the cement market to others interested. Dangote is killing Nigerians with his high price of all products he produces. Yeye man.
ReplyDeleteDangote please go home and sleep. What do you mean by that? All the enjoyment that you have been enjoying till date, did anyone sue you for that and how OBJ gave you a sole hand of monopolising the importation of some products? Aliko! Aliko!! Aliko!!! you are more than this pls stop it.
ReplyDeleteDangote please go home and sleep. What do you mean by that? All the enjoyment that you have been enjoying till date, did anyone sue you for that and how OBJ gave you a sole hand of monopolising the importation of some products? Aliko! Aliko!! Aliko!!! you are more than this pls stop it.
ReplyDelete