Obajana: 'We must separate acquisition from Asset-Grabbing', Kogi replies Dangote

The Kogi State Government on Wednesday responded to Dangote Industries Limited’s insistence on 100 per cent ownership of Obajana Cement Company, saying that DIL’s efforts at making Kogi State’s demand appear unreasonable had only justified the state’s protest against what it described as “callous and deliberate asset grabbing”.

In the response titled, “Separating Acquisition From Asset-Grabbing”, the Kogi State Government disclosed that it took a loan of at least 15million Deutsche Marks to conduct feasibility assessments, which confirmed the existence of those ‘vast limestone deposits’ that DIL found so enticing years later.

The Kogi State Government said in the interest of humanity and truth, it was pertinent to ask the questions: “How come years after DIL and DCP claim they acquired 100 per cent of the equity and assets of Obajana Cement Plc, Kogi State officials were still listed as shareholders of the company, holding shares for and on behalf of the people of Kogi State in filings made by DIL and DCP at the“Is the above not evidence that DIL and DCP which do not deny that Kogi State invited them to invest in...

Dangote is a monopolist

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Obajana: We must separate acquisition from asset grabbing, Kogi replies DangoteThe state government maintained that Obajana Cement Company was solely founded in 1992 and owned by the state, which held 100 percent of its shareholding in trust for its people... What does dangote want again, do you want to buy us all. Your monopolistic crime in the cement industry is not enough, abi Dirty business men everywhere Your plan to render us homeless will not be condole Is there any riches that is pure in Nigeria other than stealing from the people?
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Dangote Industries: Obajana Cement acquisition properly doneThe management of Dangote Industries Limited says its acquisition of the Obajana Cement Plant (OCP) followed due process contrary to claims by the Kogi state government (KSG)
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