FG orders immediate reopening of Obajana cement plant

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 had sealed  the plant on October 5, 2022 over ownership issues and tax breaches. The issue has impacted 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.

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. 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. 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.