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Acquisition Of Obajana Cement Plant Followed Due Process – Dangote

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Dangote Industries Limited, the parent organisation of Dangote Cement Plc has maintained that the acquisition of its Obajana cement plant in Kogi State followed due process.

Naija News learnt that a statement by Dangote Industries Limited said Kogi State has no equity interest in Obajana Cement Plc and should stop playing to the gallery.

This followed claims by the Kogi State Government that the company had no concrete evidence to assert ownership of the plant.

In a statement on Tuesday, the state Commissioner for Information, Kingsley Fanwo, told Dangote Group and its image-makers to focus on proving its total ownership of Obajana Cement Company rather than chasing shadows.

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“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 mud fight,” Fanwo had said.

But according to the statement, Dangote said the land on which the Obajana Cement Plant was built was acquired solely by Dangote Industries Limited in 2003, and taxes have been paid to the Kogi state government yearly since production commenced in 2007.

The company noted that the plant and machinery were conceived, designed, procured, built, and paid for solely by Dangote Industries Limited, well after it acquired the shares in Obajana Cement Company.

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The statement maintained that the Obajana Cement Plant was one of the most critical components of economic activity in the nation, and is one of the highest taxpayers.

“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,” the company said.

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