Buhari Orders Immediate Reopening Of Obajana Cement Factory

The National Security Council (NSC) has ordered the immediate reopening of the Dangote Cement factory in Obajana which was closed over a week ago.

The Kogi State government sealed the plant on October 5, 2022 over ownership issues and tax breaches.

The meeting, which also resolved to probe the discovered illegal crude pipelines has specifically ordered the Office of the National Security Adviser to investigate all issues relating to the discoveries of abandoned and discovered crude oil pipelines to determine the extent of the illegalities and perpetrators of such.

According to him, they will subsequently report back to President Muhamadu Buhari and the Council.

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In addition, the Police Affairs Minister underscored that the committee that would be set up for the purpose of investigating the crude oil theft as a matter of urgent economic importance would be in conjunction with the Office of the Secretary to the Government of the Federation with a view to guaranteeing that all those involved are prosecuted.

But, the crisis between Dangote and Kogi State Government has continued to impact the revenue and shares of the cement manufacturer.

The NSC which is chaired by President Buhari, reached the decision at a meeting held at the Council Chambers of the State House in Abuja.

The Minister of Interior, Rauf Aregbesola, the Minister of Police Affairs, Mohammed Dingyadi and the Chief of Defence Staff (CDS), General Lucky Irabor were present at the meeting.

According to Aregbesola, the action will pave way for settlement of the lingering crisis in accordance with the law

Consequently, Dangote Cement’s share price had fallen to N220.5 from N245.5 which it was before the state sealed the plant.The 16 metric tonnes plant employs thousands and was the largest traded company on the Nigerian Exchange Limited until the dispute.
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Speaking on the issue, Aregbesola said an agreement had been reached between Kogi State Government and Dangote Group on the need to reopen the cement plant.He urged the state and the company to respect agreements reached.

He said there was need for the issues in contention to be resolved legally.

Dangote Industries Ltd had commenced a legal action against the Kogi State Government.