Anxiety As Dangote Moves To Secure Obajana  Cement Plant

 The Kogi State Government on Wednesday moved to recover Obajana Cement Plant from Dangote Company Limited by sealing the plant following recommendations of its Specialised Technical Committee on the Evaluation of the Legality of the Alleged Acquisition of Obajana Cement Company by Dangote Cement Company.

The report questioned the legality of the said acquisition and advised the state government to revoke all the transactions and as well invite some officials of the past administrations to justify their actions then.

But on Thursday some detachment of military came and opened the third gate.

However on the same Thursday the management of the plant directed the staff through its platform that they should resume on Friday (today) as the issues, which kept them away from work for two days, have been resolved.

Consequently, this morning, the other gates, one and two were fully opened following the arrival of detachment of more police and military personnel, who came in over seven vehicles and have taken over the premises.

The detailed report, which was submitted to Gov. Yahaya Bello of Kogi in September, was headed by the Secretary to the State Government (SSG), Folashade Ayoade.

The report seen by metrobusinessnews.com gave far reaching recommendations, including the fact that the recovery of the state’s Obajana Cement Company Plc from Dangote Cement Company Limited has become imperative at this point in time.

The document posited that the purported transfer of Obajana to Dangote Industries Limited was “invalid, null and void”.

The report equally said that, in fact, the 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.

Weighty as the revelations and recommendations are, some of the government officials who were approached on the issue were not forthcoming as they claim not to know the next steps by the governor.

But, the feelings, among the people at the state capital and Obajana in particular are that anything can equally happen any moment as nobody is sure of the next action, even from the company, which gas commenced done preventive measures.

It was gathered that majority of the youth in the state are not happy with the development which previous governments refused to take action.

As at last night, sources had it that some youth were planning to evade the plant to express their anger over what they regard as marginalization and descrimination in the area of amenities and recruitment.

Consequently, the action of the management of the plant, it was gathered, may not be unconnected with the general feelings of anxiety and apprehension, more so, they added, that management, would not embark on these preemptive actions if the issues have been resolved according to the message.

The development has resulted in apprehension and anxiety within the area, coupled with the presence of the police and military personnel.

Ayoade, had on Thursday said 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:

“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.”

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In his remarks, Gov. 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.

However, the Governor said that the state was open to discussions once Dangote Company Plc is ready to come clean.

“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.

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