- Dangote has refuted monopoly claims, which has forced him to shut down plans to invest in Nigeria’s steel sector
- The industrialist emphasised that his company competes fairly and does not obstruct others from entering the market
- He noted that while Lafarge was the only operator in the cement industry at a time, it was not accused of monopolistic practices
Legit.ng journalist Victor Enengedi has over a decade’s experience covering Energy, MSMEs, Technology and the stock market.
Africa’s wealthiest individual, Aliko Dangote, has refuted claims of monopolistic practices, asserting that his company has never hindered others from entering his industry.
Dangote’s comments followed the board’s surprising decision to forgo the steel investment to prevent any allegations of monopolistic conduct.
Dangote stresses open market practices
During a recent press briefing, the renowned businessman reflected on his entry into cement manufacturing, noting that Lafarge was the sole competitor in the market …