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Shareholders associations knock Kogi Govt, say action on Dangote Cement, dangerous for investment

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Aliko Dangote

 

Group of Shareholders Associations in Nigeria have urged the Federal Government to urgently intervene and prevail on the government of Kogi State to stop further harassment of investors in Kogi State.

They described as barbaric the use of thugs to embarrass investors, such as meted out on Dangote cement and other companies located in Kogi State, noting that such unsavoury development will strongly discourage both local and foreign investments into the country.

It would be recalled that the Government of Kogi State last week, at the instance of the state governor, Yahaya Bello, invaded Dangote Cement, Obajana plant with over 500 armed members of the state’s security outfit, the Vigilantes, shot 27 staff and wounded several others.

President of the Association for the Advancement of the Rights of Shareholders, Dr. Umar Faruk, while speaking on the development criticised the State Government for being so insensitive to its populace, thousands of whom are depending on the Dangote Obajana plant for their means of livelihood. He said it is unfortunate that someone who has championed investment, worth billions of Naira into a state in Nigeria, is being treated this way.

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He called on the Federal Government to, as a matter of urgency, caution the Governor of Kogi State to be more civilized and professional in its dealing with Investors in the State. According to him: “Why should the governor of a state in Nigeria, mobilized vigilantes to seal a publicly quoted company? The same Governor did exactly the same thing to First Bank, making the bank close some of its branches in the state. Is that not executive rascality, using the state assembly to commit such an atrocious act?

“Federal Government should swing into action by protecting investors, else, the efforts being made to attract both foreign and local investors will come to naught. I hope the state realizes that Dangote Cement has foreign shareholders. What impression do you want these people to have of our government? I also urge the Federal Government to fish out those thugs, used by the State, for prosecution, so as to serve as a deterrent to others…This action will lead to loss of revenue, even for the Government, in terms of taxes, and erode the shareholder’s value.”

In the same vein, founder of the Independent Shareholders Association of Nigeria (ISAN) and President of Boys Brigade Nigeria (BBN), Sir Sunny Nwosu said a reasonable state government would have gone to court against any publicly quoted company rather than resort to a barbaric and ruthless method of chasing workers with guns and cutlass in the civilized age.

“What the Kogi State Government did, honestly was very bad and disappointing. How can a state use vigilante with guns and cutlasses against a company that is feeding thousands of its people? A reasonable government should have gone to Court and not taken laws into its hands.

“This action is bad and will smear the image of both the Federal and State government. It will also affect the ranking of ease of doing business in Nigeria. Kogi is blessed with so many natural resources, but with the attitude of this government, I doubt if any reasonable investor, either local or foreign, will want to do anything with the state anymore”

The President, Pragmatic Shareholders Association, Mrs. Bisi Bakare said: “As an investor, we are not happy about the way things are going. If the State has problems with Dangote Cement on tax issues or any issue at all, there are a far better-civilized ways of handling it than sealing a factory that is contributing more than 30 percent of the cement Nigerians are consuming.

“The governor should realize that his position is transient and that the people of his state, whom he has deprived their means of livelihood will always remember him for bad! Can you imagine the number of people that will be out of jobs and the huge revenue loss to the government, the company, and us, the shareholders? The state, to me, has done a very grave mistake and the earlier the company is re-opened the better.”

Recalled that the Organised Private Sector (OPS) operators under the aegis of the National Association of Chambers of Commerce, Industries, Mines and Agriculture (NACCIMA) have lent its voice to the ongoing spat between Dangote Cement and Kogi state government which culminated into the closure of the Obajana plant of the Cement company.

NACCIMA expressed regret that the issues between the company and the state over tax disputes ought not to have led to sealing of the company but should have been resolved in a conciliatory and amicable atmosphere.

The body, in a statement signed by its Director-General, Olusola Obadimu, and issued in Lagos, said the state government should have trodden a path of caution and called for the immediate reopening of the factory for normal production activities to resume.

Obadimu stated that NACCIMA’s position was based on some key considerations bordering on the impact of the factory’s closure on the economy and thousands of people whose means of livelihood depend on the production activities of the factory.

“It is vital to note that it is a huge production plant that supplies key domestic input (cement) into the economy and employs hundreds of thousands of Nigerians, directly and indirectly. This is aside from its substantial budget for corporate social responsibility outside of taxes.

“Shutting off the factory does not necessarily help the controversial issue of compliance on tax remittable to Kogi state government. Rather a continuous operation of the plant

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Future Energies Africa (FEA) Ltd. Owns Significant Stake In KEDCO, Says MD/CEO

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The attention of KEDCO has been drawn to publications in some major media publications regarding the status and ownership of KEDCO. The Management of Kano Electricity Distribution Company (KEDCO) has said the DisCo was not under the jurisdiction of any Bank or the Asset Management Corporation of Nigeria (AMCON).

In a statement issued by KEDCO’s Head of Corporate Communications, Sani Bala Sani, he refuted the reports that flooded the media space and claimed that KEDCO was one of the DisCos currently being managed by AMCON or the Banks, thus ordered for sale.

Sani further informed that, “Since November 2023, new investors – Future Energies Africa (FEA) Limited acquired control of 60 per cent shares of the DisCo, while the Federal Government retains 40%.

The Company’s spokesperson recalled that, In July 2022, KEDCO, alongside four other DisCos were restructured by the Federal Government and appointed an interim Board and Management to steer the affairs of the Company for transition to new investors, which was concluded and handed over to the current investors.

On the Company’s current performance metrics, Sani said the DisCo had improved significantly in its operational efficiency under the stewardship of the current MD/CEO, Abubakar Yusuf, and a crop of seasoned professionals on the Board of Directors led by Engr. Ibrahim Adamu Gumel, by creating a modernized electricity distribution system that has enhanced service delivery, a friendly customer atmosphere, and a reduction in ATC&C losses, within 6 months of the takeover.

KEDCO, under its current ownership, is committed to providing reliable, affordable, and sustainable electricity to Kano, Katsina, and Jigawa States and environs. Through innovative solutions and partnerships, the Company aims to lead the way in renewable energy adoption and sustainable development.

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Plateau state government introduces monthly press briefing to highlight achievement

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By Asile Abel,jos

The Plateau State Government has began monthly Ministerial press briefing to inform citizens on government activities in various Ministries, Departments and Agencies, (MDAs)

The monthly briefing start with 4 Ministries held at the Conference Hall of the Ministry of Education Building, JD Gomwalk Secretariat, Jos, Plateau State.

Declaring the briefing open, the State Commissioner for Information and Communication, Mr. Musa Ashoms, stated that the event was a core mandate of the Ministry of Information and Communication, expected to bolster its vision for an enlightened, educated and informed populace.

He added that the event also corresponds with the present administrations idea of carrying citizens along in accordance with the first focal point of the Green Cap Policy Thrust, which is “Good Governance and Citizens Participation in Sustainable Development.”

“I therefore make due acknowledgment to the Executive Governor of Plateau State, Barr. Caleb Manasseh Mutfwang for his enthusiastic support and expedited approval.

“…It is this attitude that drives the vigorous activities across various sectors and across the state, turning it into a huge project site for massive infrastructural development and an incubator for robust public policy initiatives.” He added.

Office of the Head of Civil Service hit the ground running with their report, where they enumerated responsibilities, successes and challenges of the office to members of the media community.

The Plateau State Head of Civil Service, Barrister Rauta Dakok, said the office is the engine room of government and the administrative machinery for implementing the State Government’s Policies and Programmes.

Some of the achievements she captured were the physical verification of staff and pensioners for the offset of Salary/Pension Arrears inherited from immediate past Administration.

She said the office also obtained approval for the release of Three Hundred Million Naira (N300,000,000.00) Monthly to settle arrears of pensions/gratuities and death benefits from 1986 to date, adding that promotions for deserving civil servants is almost up to date.

“The establishment of Information and Public Relation Officer Cadre Structure on SGL 08 – 17 and Executive Officer (Information and Public Relations) Cadre Structured on SGL 06 – 14 in the Schemes of Service.

Barr. Rauta said the implementation of recalled workers into the mainstream civil service whose employments were initially suspended is at about 80% completion

The Head of Service also highlighted some challenges faced by the office to includes Inadequate Office accommodation, shortage of manpower in view of batched retirement and non availability of copies of current Public Service Rules and other relevant Government documents.

Others she said are indiscriminate encroachment on lands adjoining to Government quarters by
unscrupulous persons and how retired civil servants are still holding unto Government quarters by preventing the
serving civil servants from enjoying same.

Also, the state Commissioner for Local Government and Chieftaincy Affairs, Mr. Ephraim Usman gave a scorecard of his ministry within the 11 months of the “Time is Now” administration which includes payment of salaries and pension arrears from the previous administration at the LGAs level.

Ephraim said, “The ministry in collaboration with ALGON purchased 35 Hillux vehicles for operation Rainbow to strengthen the security architecture at the grassroots level.”

He said the ministry in conjunction with the 17 LGAs is working on digitalization of indigene forms and marriage certificates with link to NIN.

On Chieftaincy Affairs, the Commissioner said the ministry conducted the selection and coronation of the new Ngolong Ngas on first class status and also the selection of the new Mou Youm of Garkawa on second class status, noting that his coronation will soon take place.

Other ministries who gave their scorecards on the first press briefing were Ministry of Education, (Secondary) and Ministry for Women Affairs and Social Development.

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Security: Governor Yusuf Attends Symposium Organized by US Institute of Peace for Northern Governors

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Kano state Governor, Alh. Abba Kabir Yusuf has arrived United States of America for high powered symposium organized by US Institute of Peace.

The three days conference being attended by Governors of Kano, Katsina, Zamfara, Kaduna, Niger, Sokoto, Kebbi, Jigawa,and Plateau states, was designed to address insecurity in Northern Nigeria and better option to mitigate the challenge.

The intensive executive engagement will enable the Governors of some of the trouble state deep understanding on the dynamics of security threat, it’s socioeconomic dimensions, and near-term opportunities to drive stability in Northern Nigeria.

The US Institute of Peace would also broaden knowledge on strengthening conflict prevention in the region, through a non-violent strategies for engaging the armed groups as alternative for conflect resolution.

The strategic engagement being anchored under the tutelage of Dr. Joseph Sany, Vice President, Africa Center for US Institute of Peace, will also focus on policy coordination and management of peace and stability in Nigeria.

The symposium which ends 25th April, 2024 is part of the ongoing efforts of the northern Governors especially those from northwest to set a regional development agenda.

 

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