• About
  • Advertise
  • Contact
Thursday, June 19, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Business

Obajana Cement Plant Doesn’t Belong To Dangote – Gov. Yahaya Bello

Vital News by Vital News
October 6, 2022
in Business
0
Share on FacebookShare on Twitter

Lokoja – Governor Yahaya Bello of Kogi State, said on Thursday that Dangote Group cannot claim the ownership of Dangote Cement Company, Obajana based on official reports and other documents at the disposal of the state government.

Bello stated this in Lokoja
during the public presentation of the report of the Specialised Technical Committee on the Evaluation of the Legality of the Alleged Acquisition of Obajana Cement Company Plc by Dangote Cement Company Limited by the Secretary to the State Government, Dr (Mrs) Folasahade Ayoade.

“We received several petitions from the general public over this particular subject matter.

In the past five to six years, all efforts to sit with the proprietors of the Dangote Conglomerate failed.

“We set up a committee to look into this and invited the Dangote company to discuss with them and tell them the imminent dangers they are exposing the people to, but it all fell on deaf ears.

RelatedStories

Kogi RAAMP Signs N4.03billion Market Upgrade Contracts

Eid -el-Kabir : Dangote Cement Plant Director Pays Sallah Visit To Lokoja LG Chairman, Traditional Rulers Of Host Communities

Cracking The Code With Africa’s Creators: Woof Studios Makes History At Cannes Lions 2025 CANNES

Governor Ododo Inaugurates BOI Office In Lokoja, Charges Business Owners To Embrace bank

“I am here to defend my people, and from all reports, it is clear that Obajana Cement Company does not belong to Dangote,” Bello insisted.

Governor  Yahaya Bello

The detailed report, submitted to Governor Yahaya Bello of the state, last month, was presented to the public by the Secretary to the State Government, Dr. (Mrs) Folashade Ayoade during the week.

Ayoade revealed with documents that the purported transfer of Obajana Cement Plant to Dangote Industries Limited, was “invalid, null and void”.

She disclosed in the report that three Certificates of Occupancy for Obajana Cement Company Plc, which was solely owned by the Kogi State Government at the time, were used to obtain a loan of N63billion by Dangote.

According to her, the Committee, in view of its findings, has therefore recommended that Kogi State should take steps to recover Obajana Cement Company from the Dangote Group.

The Committee, chaired by the SSG, also recommended that: “Kogi State Government should take steps to recover all accrued dividends from profits made over the years, including accrued interest on same.

“Kogi State Government should take steps to cancel the existing seven Certificates of Occupancy in the name of Dangote Cement Company.”

Stressing the aberration in the arrangement, the SSG said, “Agreement between Kogi State Government of Nigeria and Dangote Industries Limited, dated 30th July 2002 and supplemental agreement dated 14th February 2003, as contained in Exhibit 71 of the Judicial Commission of Inquiry Report, purporting the transfer of Obajana Cement Company Plc to Dangote Industries Limited, are all invalid, null and void.

“There is no evidence of consideration paid by Dangote Industries Limited to Kogi State Government from the alleged transfer of Obajana Cement Company Plc and no dividend was paid to the state from the profits realised from the inception of Dangote Cement Company Plc to date.

“By the assignment of the three certificates of occupancy, the title in Obajana Cement Company Plc, still vests in Kogi State Government as the sole owner.

“The three documents were used to obtain a loan of sixty-three billion naira only (63,000,000,000.00) to finance the construction of the cement plant in Obajana.

Speaker of the Kogi State House of Assembly, Matthew Kolawole, specifically noted that the acquisition of the Obajana Cement Company by Dangote was without the resolution of the House of Assembly, which made the process null and void.

“It is clear that you cannot sell a state government property of any form without the resolution of the Kogi State House of Assembly.

“All the transfer process of the share capital to Dangote from Obajana by the previous administration was without any law backing it by the state House of Assembly,” Kolawole stated.

In his remarks, Governor Yahaya Bello said that he had taken the bold step, in line with his mandate to safeguard the lives and livelihood of the people of Kogi State, including residents, and to ensure their wellbeing.

Bello said this was also coming on the heels of protests by the people of the state who felt they had been suppressed and marginalised by the Dangote Group who had come to rip them off.

He added that the state was open to discussions once Dangote Company Plc is ready to come clean. (vitalnewsngr.com)

Tags: cementDangoteownershipplant
Previous Post

MAN Condemns Invasion Of Dangote Cement Plant By Kogi State Govt.

Next Post

Atiku Appoints Kola Ologbondiyan Campaign Spokesperson

Vital News

Vital News

RelatedStories

Kogi RAAMP Signs N4.03billion Market Upgrade Contracts
Agriculture/ Water/ Mineral

Kogi RAAMP Signs N4.03billion Market Upgrade Contracts

June 15, 2025
Eid -el-Kabir : Dangote Cement Plant Director Pays Sallah Visit To Lokoja LG Chairman, Traditional Rulers Of Host Communities
Business

Eid -el-Kabir : Dangote Cement Plant Director Pays Sallah Visit To Lokoja LG Chairman, Traditional Rulers Of Host Communities

June 8, 2025
Cracking The Code With Africa’s Creators: Woof Studios Makes History At Cannes Lions 2025 CANNES
Business

Cracking The Code With Africa’s Creators: Woof Studios Makes History At Cannes Lions 2025 CANNES

June 3, 2025
Governor Ododo Inaugurates BOI Office In Lokoja, Charges Business Owners To Embrace bank
Business

Governor Ododo Inaugurates BOI Office In Lokoja, Charges Business Owners To Embrace bank

June 2, 2025
Tinubu, Dangote Refinery And Mele Kyari’s Sack
Business

Nigeria To Host 2025 West Africa Economic Summit

May 31, 2025
Next Post

Atiku Appoints Kola Ologbondiyan Campaign Spokesperson

Appeal Court Rules On ASUU Strike Friday

Buhari Visits 23 Freed Train Passengers In Hospital, Expresses Happiness Over Their Release

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Ex-President Jonathan’s Chief Of Staff, Jones Arogbofa Dies At 72

Ex-President Jonathan’s Chief Of Staff, Jones Arogbofa Dies At 72

1 year ago
Insurgency : 35,000 Persons Killed In North-East Since 2009 – UNHCR

Insurgency : 35,000 Persons Killed In North-East Since 2009 – UNHCR

2 years ago

SSANU calls for immediate disbandment of Nimi Briggs Committee

3 years ago
Kogi Guber : Tribunal Orders INEC To Allow, SDP, Ajaka Lawyers Access To BVAS, Other Election Materials

Ogun Guber : Your Appeal Based on Dubious Document, APC’s counsel tells Adebutu, as Supreme Court reserves judgement

1 year ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN Court Dangote death drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security Senate students Tinubu Women
No Result
View All Result

Highlights

FAAC Shares N1.659trillion May 2025 Revenue To FG, States, LGs

7 Police Officers Arrested In Imo For Extortion, Harassment At Checkpoints

Governor Ododo Celebrates Predecessor, Yahaya Bello @50

LPPC Shortlists 74 Lawyers For SAN Rank, Calls For Public Scrutiny

Gender Equity In Judiciary : Lagos, Kano Lead In Female Judge Appointments

Two Lawyers, Real Estate Developer Arraigned For Forgery Of Demolition Notice From Governor’s Office

Trending

OF PROPHECIES AND REALITIES IN TODAY’S WORLD by Taiye Olaniyi
Opinion

OF PROPHECIES AND REALITIES IN TODAY’S WORLD by Taiye Olaniyi

by Vital News
June 18, 2025
0

OF PROPHECIES AND REALITIES IN TODAY'S WORLD by Taiye Olaniyi From time immemorial, different life experiences in...

Joint Task Force Arrests 26 Suspected Kidnappers In Kogi

Joint Task Force Arrests 26 Suspected Kidnappers In Kogi

June 18, 2025
Dangote Refinery, An Industrial Revolution Liberating Nigeria – Committee On Naira For Crude Sales

Dangote Refinery, An Industrial Revolution Liberating Nigeria – Committee On Naira For Crude Sales

June 18, 2025
FAAC Shares N1.35tn June Revenue Among FG, States, LGs

FAAC Shares N1.659trillion May 2025 Revenue To FG, States, LGs

June 18, 2025
Smuggling Scandal : Police Denounce False Allegation Against IGP

7 Police Officers Arrested In Imo For Extortion, Harassment At Checkpoints

June 18, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • OF PROPHECIES AND REALITIES IN TODAY’S WORLD by Taiye Olaniyi June 18, 2025
  • Joint Task Force Arrests 26 Suspected Kidnappers In Kogi June 18, 2025
  • Dangote Refinery, An Industrial Revolution Liberating Nigeria – Committee On Naira For Crude Sales June 18, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In