Kogi Assembly Summons Dangote Over Alleged Purchase of State Cement Company

Kogi Assembly Summons Dangote Over Alleged Purchase of State Cement Company

Dangote Cement Limited has been asked to appear before the Kogi State House of Assembly once more on Thursday in order to further explain how the organization previously bought Obajana Cement.

This is because the Dangote Cement Limited management chose not to come before the House on Saturday in Lokoja.

The Speaker of the Kogi State House of Assembly, Rt. Hon. Matthew Kolawole, revealed this on Saturday during the disastrous public hearing with the Dangote Cement Limited management in the House’s Hallowed Chamber.

The Speaker pointed out that in order to demand the State’s fair share from the companies, the invitation to the Dangote Cement Company and other businesses operating in the State became necessary.

He continued by saying that despite the enormous number of resources being extracted from the State’s soil, the amount of revenue going into the government coffers was not very impressive.

He said, “the invitation is simply a demand for the rights of the State to a fair share of resources taken out of her soil.”

He emphasized that the summons must not be interpreted as a witch hunt.

He criticized Dangote Cement Limited’s acquisition of the State’s exclusive ownership of Obajana Cement and stated that the purpose of the public hearing was to reveal the deal’s covert nature.

In order to prevent a repeat in the future, Kolawole clarified that the House was not ignorant of what had happened in the past.

He said, “we are currently investigating sources of our Internally Generated Revenue, IGR, and we believe it is expedient for the House to interface with some companies operating in the State.

”For example, Dangote Cement Limited started as Obajana Cement company. Kogi State House of Assembly is interested and curious to know what happened at a point that the company transformed to Dangote Cement Limited.

“We want to know what is the benefits of the State in the company. What is the equity share of the State in the company.

”We are beaming our searchlights on all companies in the State, as we not particular about Dangote.

“We have Mangal Limited, we have some that are into mining coal, limestones, gold, even as different kinds of solid minerals are being mined out of Kogi on a daily basis.

”We want to know on whose instruction are they paying their dues. We are interested in doing business with companies that will give us our fair share of the quantum of resources taken out of our soil.

”We are not against any organisation, but let the right things be done at the right time. We enjoin them to give to us what belongs to us and that is why we are here.

”We are confident that when the report would be written a lot of discovery will be made. We invited Dangote and they are not here. I have directed the committee to invite Dangote for Thursday and ensure that they acknowledge receipt of the correspondence,” he revealed.

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