My Cement Was Stronger, More Durable, and Cheaper Than Dangote’s — But Out of Envy, He Used Obasanjo’s Influence to Shut Down My Factory – Cletus Ibeto

“My Cement Was Stronger, More Durable, and Cheaper Than Dangote’s — But Out of Envy, He Used Obasanjo’s Influence to Shut Down My Factory – Cletus Ibeto

According to Ibeto, his cement was the cheapest anywhere in the world. “I wasn’t competing with Dangote, I was competing with the global market.

If China sold cement at ₦1,000, I sold mine at ₦600 to Nigerians. My dream was simple: to make sure every Nigerian, no matter how little they earn, could one day afford to build a house of their own.”

Today, cement in Nigeria sells for about ₦10,000, while the same product goes for just ₦5,000 in Ghana.

Ibeto insisted: “This would never have happened if my factory was still running. Under my watch, the price of cement would never have gone beyond ₦2,500.”

He further accused Dangote of deliberately pursuing monopoly: “He wanted to control the market and cripple the South-East because the Igbos are the ones who build the most.

That was the hidden agenda. But I will continue to say it boldly—if my factory was alive today, Nigerians would not be crying under this heavy burden of cement prices.”.