A story of the battle for Cement dominance in Africa’s largest economy, Nigeria.
A story of the battle for Cement dominance in Africa’s largest economy, Nigeria. How one man surmounted rivals, both big and small, to become the undisputed King of African Cement and another battled with the guardians of the corridors of power.
On a cold afternoon in November 2005, Federal Government operatives, acting on orders from above, swooped down on a busy factory in the oil rich city of Port Harcourt. They were under instructions to seal off a warehouse whose operations had contravened a government policy – a policy that would later prove decisive in a brutal race for market share in an industry worth over N1 trillion.
At first, the closure appeared to be due to a mix-up between an agency of the Government and the owners of the warehouse. It was expected to be resolved in a matter of days by the billionaire Chairman of the company. Emissaries were dispatched to help resolve whatever misunderstanding may have led to the seemingly excessive act by the government.
As days turned into weeks and weeks into months, it dawned on the owners of the multi-billion-naira conglomerate, which was based in the South-Eastern part of Nigeria, that they were dealing with powers that stretched far beyond the red sands of the South East. Something had to be done to resolve this issue. At stake was not only the reputation of the company, but billions of naira in inventory that could erode all the wealth that had been built over the years.
It was January 22, 1966 in the bustling suburb of Nnewi in Anambra state, South-Eastern Nigeria. Nigeria had just witnessed a deadly coup one week earlier, and the mood in the country was still tense. But for a certain household, a major decision had to be made. Cyril, the eldest son of the home, was having a chat with his father that would decide the fate of one of his siblings.
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August 24, 2018 at 11:10 am
Well written expose. Thanks nairametrics.
August 24, 2018 at 3:16 pm
Absolutely incredible. One of the most interesting articles I have ever read in the Nigerian media. A very big thank you to the writer for this valuable write-up. God bless you.
Segun olarewaju Johnson
August 24, 2018 at 3:39 pm
A three star documentary, well written, with date,time and location.
August 25, 2018 at 6:50 am
Whoever crafted this report is a genius. I am pleased to have the privilege to read this well researched and composed article.
August 25, 2018 at 12:12 pm
Nice. Excellent. Well written. Welldone. Keep it up!
August 25, 2018 at 3:02 pm
Wow.This was an awesome read. Well detailed and very informative. Keep up the great work. My own little token will be to spread this link as much as I can and blow the trumpet of this site. Kudos
August 25, 2018 at 4:39 pm
August 25, 2018 at 4:49 pm
August 25, 2018 at 6:42 pm
Who said journalism is dead in Nigeria? This is well researched and written article. We need this type of expose to keep people informed.
August 25, 2018 at 6:43 pm
I have never read anything like this in the Nigerian Media, whoever put this piece together did a great job, the fact that we were taken back in history and the merging of stories, kept me reading to the end….big thumbs up
August 25, 2018 at 6:45 pm
August 25, 2018 at 9:28 pm
An Informative, Well articulated and properly structured article. More greeze to your nairametrics for this fantastic article. Please keep up the good work.
August 25, 2018 at 10:33 pm
An interesting article. Well researched. Thumbs up Nairametrics.
June 16, 2020 at 11:32 pm
Well articulated and scripted. Good research work,balance in contents.
Oloye TOLU Osaretin (@tholu_osa2)
August 25, 2018 at 11:45 pm
Awesome read. Some great work by nairametrics team.
August 26, 2018 at 8:10 am
This is a very well written exposé, we need more of this kind of report. Wonderful job guys
August 26, 2018 at 7:09 pm
This is one nice piece. It should be considered for a video documentary like “The Men that Built America”
August 28, 2018 at 7:40 pm
August 26, 2018 at 7:58 pm
Wow, this article is amazing.. ? it.. Keep it up
August 27, 2018 at 1:52 am
just finished reading… i need to save this up, great read.
August 27, 2018 at 4:41 am
August 27, 2018 at 7:00 pm
awesome read, thanks and keep it coming
August 27, 2018 at 7:57 pm
This is the best piece I have ever written about Nigerian business terrain.
August 28, 2018 at 1:35 am
Awesome !! I look forward to great articles like this.
August 28, 2018 at 6:05 am
This is an amazing write up… a documentary should be made on this really… well done Nairametrics
August 28, 2018 at 2:01 pm
Awesome. Thank you Nairametrics.
Please don’t stop here, we also need to have a “Enters BUA” part of the story. The competition between BUA and Dangote will also give us another perspective of the industry.
August 29, 2018 at 10:26 am
This write up is so very well written and researched.
Ugo and the Nairametrics crew, una welldone!
Young as I am, this reminds me of a research project I did on Dangcem for my masters
August 29, 2018 at 7:32 pm
Is there an award akin to the Pulitzer for journalistic excellence or investigative writing in the Nigerian media? This article deserves it.
August 30, 2018 at 10:03 pm
A wonderful piece. I haven’t read something this detailed in a really long while. You really did your research. Kudos!!!!!
August 31, 2018 at 1:22 pm
This is the best article I have read in a Nigerian business website. Well done guys
September 4, 2018 at 4:36 pm
This is quite objective and very informative.
This clearly shows the significant role government plays in making the top merchants who they are.
No solo runs…
September 8, 2018 at 4:09 pm
dangote being greedy and having the protection of the federal govt., should have been condemed by the response but here the indept journalism was praised.
October 5, 2018 at 9:24 pm
Whoever wrote this story deserves a promotion.Very impressive
November 2, 2018 at 8:45 pm
Nicely delivered and well researched. The itch as someone mentioned is the fact that BUA cement owned by Abdul Samad Rabiu is left out of the picture. In fact speaking of “the battle for dominance” among indigenous players in the cement industry, Rabiu should be more of a contender with Dangote than Ibeto.
March 28, 2019 at 11:15 am
This is a really amazing write up. You gave a new insight to the world of business in Nigeria. Thanks @nairametrics
April 5, 2019 at 5:55 am
Excellent write up. It is clear that the business world in Nigeria is not for the faint hearted and you must ensure you don’t make enemies in government corridors. It can almost always certainly spell doom.
June 26, 2019 at 11:50 am
Great write up, well researched!!!
June 26, 2019 at 8:29 pm
This is the reason I can’t do without coming to Nirametrics in a day!
Absolutely a great piece ?
Kudos to the Team that put this up
July 24, 2019 at 2:07 pm
I have been procastinating on reading this topic for long, I am happy I read it today. Well researched and excellently delivered. Kudos to Ugo and his team.
September 4, 2019 at 12:27 pm
Great piece. Well written
October 22, 2019 at 3:51 pm
Wonder article we have here
December 31, 2019 at 4:06 pm
still dont know why ibeto was shut down
January 6, 2020 at 12:31 pm
Why will ibeto wage wars against dangote….can you imagine….anyway nice article…keep it up dude
January 12, 2020 at 11:48 pm
March 5, 2020 at 4:47 pm
I am greatly impressed by this effort.This is one of the things that Nigeria lacked over the ages, rich and verifiable history of Nigerian owned businesses, so that upcoming Titans can learn.
March 8, 2020 at 7:38 pm
Brilliant article. Love this
April 28, 2020 at 11:22 pm
Its hard to get something this informative and yet remains fact… Thanks a lot, ore of the same please
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For many years, competition in the Nigerian soft drink market was mainly between Coca-Cola and Seven-Up but in 2014, Rite Food came and disrupted the space.
It was early morning on Wednesday, November 13th 2019, and Ziad Maalouf was not asleep. He could not sleep, not with his mind burdened by what had become a serious problem facing 广电禁播动漫Seven-Up Bottling Company, 广电禁播动漫which he oversees. It was part of his job as the Managing Director to figure out a solution to this challenge. And that was exactly what he was doing as he sat in his study that early morning, typing furiously on his computer.
广电禁播动漫By 4:37 am that morning广电禁播动漫, Maalouf had sent out an internal memo and copied 25 top executives of the soft drink manufacturing company. In the memo, he made it clear that he was ready to declare war against the company’s competitors. He would not rest until the war was over and Seven-Up had emerged victorious, he declared.
Sometime in early 2012, a wealthy, sophisticated, and beautiful middle-aged Nigerian businesswoman walked into a Lagos courtroom to testify before a judge.
Sometime in early 2012, a wealthy, sophisticated, and beautiful middle-aged Nigerian businesswoman walked into a Lagos courtroom to testify before a judge. She had just filed a lawsuit before the court in a desperate bid to salvage her late husband’s investments in the 广电禁播动漫Tourist Company of Nigeria广电禁播动漫 广电禁播动漫Plc广电禁播动漫 (TCN). She was also understandably trying to secure her financial future and that of her children. Her husband had just died, and she suddenly found herself thrust in the position of the sole breadwinner of the family.
广电禁播动漫The woman is Mrs Maiden Ibru广电禁播动漫, the widow of renowned businessman and politician, Alex Ibru. During her testimony on that fateful day, she made some pretty shocking revelations, albeit with some dramatics.? She told everyone gathered in the courtroom that just as she was walking in, she supposedly saw the apparition of her late husband telling her to fight. So, fight she did, by spilling all the secrets about the company.
Mrs Maiden Ibru appearing in court to testify.
广电禁播动漫Apparently, all was not well广电禁播动漫 with the Tourist Company of Nigeria Plc, a hospitality company that owns one of Nigeria’s oldest luxury hotels – the Federal Palace Hotel. Perhaps no one would have known about TCN’s woes if Mrs Ibru hadn’t instituted her lawsuit and subsequently given her bombshell testimony. However, the sad thing is the fact that though it’s been seven years since Maiden Ibru’s court appearance, all is not still well with the company.
In this latest installment of Corporate Stories, we are going to tell the story of a young man, who dared to take on a mighty monopoly with his start-up.
The story navigates through the murky waters of corporate competition. It is?about displacing a corporate monopoly and the perils of riding that success.
It navigates the intersection between crony capitalism, patient capital and executive exuberance. It serves as a lesson for any self-determined visionary out there who is building a start-up to take on the next vulnerable monopoly.
“Power is about to change hands,” a newspaper headline read in late 2006.
A week before then, on November ?6, 2006 to be precise, a competitive bid was being held somewhere in the United Kingdom. For the first time, a “proudly Nigerian owned” company was about to displace a foreign owned monopoly that had cornered Africa’s largest market for about 13 years.
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