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Obajana cement plant properly acquired- Dangote

Dangote Cement Plc’s parent company, Dangote Industries Limited, insisted that all proper procedures were followed when it acquired the cement factory in Obajana, Kogi State.

According to The PUNCH, this came after the Kogi State government alleged that the business lacked proof of ownership for the plant.

According to an official statement, Kogi State had no ownership stake in Obajana Cement Plc.

The statement claimed that the plant and machinery were planned, designed, obtained, constructed, and paid for by DIL alone, well after it had acquired Obajana Cement Company’s shares.

The firm added that Dangote Industries Limited alone purchased the site on which the Obajana Cement Plant was constructed in 2003, and that taxes have been paid to the Kogi Government on a monthly basis since production began in 2007.

The statement read in part, “This is a statement issued for the sole purpose of addressing the concerns and apprehensions of the stakeholders of Dangote Cement Plc (DCP) especially the over twenty-two thousand people it employs directly, and more indirectly, as well as thousands of contractors, wholesalers, users of our products, our financiers and shareholders.

“At a time of significant economic challenges that we face as a nation, we believe all must be done to keep our economy running effectively, our people employed, businesses that depend on us thriving and not discourage those who take the risks of needed, lawful and significant investments in our economy. The shutdown of our plant has materially jeopardised the economic well-being of our country without any regard for its significant consequences.”

According to the statement, the Obajana Cement Plant was one of the most important contributors to the nation’s economic activities and one of the largest taxpayers.

On Tuesday, the Kogi State commissioner for information, Kingsley Fanwo, in a statement, told the Dangote Group and its image-makers to focus on “proving its total ownership of Obajana Cement Company rather than chasing shadows.”

“We remain resolute in our position on the Obajana Cement Company and that remains the matter to be determined rather than any attempt to drag the state government into any mudfight,” Fanwo said in the statement.

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