The Kogi State House of Assembly has invited Dangote Cement Limited to a hearing on hearing on Thursday to disclose facts on how it bought the Obajana Cement.
This followed the failure of the Management of Dangote Cement Limited to appear before the House on Saturday.
The invitation was issued by the Speaker of the Kogi State House of Assembly, Rt. Hon. Mathew Kolawole on Saturday during the failed public hearing with Dangote Cement Limited management.
Kolawole said the summon of Dangote Cement and a host of other companies doing business in the State was necessitated by the need to obtain dividend from the companies.
The Speaker said that the State government received paltry sum as revenue from companies operating in the State despite exploiting the state’s rich resources.
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 stressed that the summons should not be misconstrued as witch-hunting.
He said the inquiry was meant to unravel the circumstances surrounding the takeover of Obajana Cement which was entirely owned by the State by Dangote Cement Limited.
Kolawole added, “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.
See Also: Banks Deposits Increase By 24% From N33.85tn
“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.”
Source: Dailypost
- Gov Alex Otti Reacts To Tribunal Judgment - October 7, 2023
- Fake Credentials: Soyinka Dares Accusers To Prove Allegations - October 7, 2023
- Ukraine Vow To Shun UEFA Competitions Featuring Russian Teams - September 27, 2023
