The management of Dangote Industries Limited has insisted that its acquisition of the Obajana Cement Plc in 2002 followed due process, contrary to claims by the Kogi State government.
The conglomerate asserted that Kogi State government has no
equity interest in Obajana Cement Plc. It also stated that the company, as a
responsible corporate organisation, has been paying relevant state taxes,
levies and charges to the Kogi State government since 2007 when production
commenced in the acquired cement plant.
These clarifications were contained in a statement issued by
the management of Dangote Industries Limited titled ‘Obajana Cement Plant:
Separating Facts from Fiction.’
According to the statement, “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 22,000 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 wellbeing of our country without any regard for its significant
consequences.
“Whilst reserving our rights to proceed to arbitration in
accordance with the extant agreement, we have reported the unlawful invasion by
KSG and the consequential adverse effects of same to all the relevant
authorities, including the Federal Government of Nigeria which has now
intervened in the matter.
“It is hoped that the dispute resolution process we have
initiated will quickly resolve the disputes and allow us to focus on our
business without distraction and continue our significant contribution to our
national economy.
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