Tag: Dangote Group

ÆŠangote, over 200 firms abandon national grid amid persistent failures

Aminu Imam
ÆŠangote on National Grid2

Major companies in Nigeria, including ÆŠangote Industries,  Nigerian National Petroleum Company Limited (NNPCL), and Total, have abandoned the national power grid due to persistent outages.  Over 250 firms and institutions now generate their electricity through captive power plants, producing over 6,500 megawatts (MW) -surpassing the grid’s 4,500-5,000 MW capacity. Recall that the national grid has suffered 12 collapses in 2024 alone, blamed on aging infrastructure, vandalism, and poor investment. Despite Government efforts, including investigative panels, power disruptions continue to hinder businesses and essential services. ÆŠangote Industries leads the shift, with…

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‘NNPCL stake in our refinery now 7.2%’ – Aliko ?angote

Aminu Imam
Dangote NNPCL

Africa’s richest person, Aliko ?angote, has said the Nigerian National Petroleum Company Limited, (NNPCL), no longer owns 20% stake in Dangote Petroleum Refinery. Speaking during a press briefing at the refinery yesterday, ?angote said NNPC now owns 7.2% of the refinery over failure to pay the balance of their share, which was due in June. “NNPC no longer owns 20% stake in the Dangote Refinery. They were met to pay their balance in June, but have yet to fulfil the obligations. Now, they only own a 7.2% stake in the…

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Alleged Forex Crime: EFCC summons ?angote officials to Abuja

Aminu Imam

The Economic and Financial Crimes Commission (EFCC) has summoned ?angote Group officials to Abuja for detailed documents on forex transactions spanning nine years. EFCC operatives stormed the group’s Lagos headquarters, probing alleged forex allocation abuse under ex-CBN Governor, Godwin Emefiele. During its operation, it was gathered that the anti-graft agency took away some sensitive documents that may be helpful to its current investigation into the truth behind Emefiele’s abuse of power over forex allocation. However, not satisfied with the content of the documents confiscated, it decided to summon some of…

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EFCC operatives probe 52 companies over FX transactions with CBN

Aminu Imam

…Visits Dangote Group HQ Operatives of the Economic and Financial Crimes Commission (EFCC) yesterday conducted a search operation at the head office of the Dangote Group in Lagos as it widens investigations into the foreign exchange transactions during the tenure of former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. It was gathered that the EFCC wrote to the various companies asking for documentation on their forex transactions in the last 10 years. Details of the EFCC investigations are still sketchy, but it appears to be a blanket…

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?angote denies reducing cement price from N5, 500 to N2, 700

Aminu Imam

The management of ?angote Cement Plc has debunked reports that the company has reduced the price of cement from N5, 500 to N2, 700 effective from October 1st. Speaking with newsmen, Group Head, Corporate Communications, ?angote Group, Anthony Chiejina, said the report was lie being spread by some people on social media in order to trend, generate traffic and make money. He further urged members of the public to disregard any statement that did not originate from ?angote Group. Also, the ex-presidential aide to former President Muhammadu Buhari, Bashir Ahmad, confirmed…

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Dangote, Kogi State have agreed to re-open Obajana cement plant – FG 

Aminu Imam

The Federal Government says an agreement has been reached between the Kogi State government and Dangote Group to re-open the Obajana cement plant. The Minister of Police Affairs, Mohammed Dingyadi, confirmed this to State House correspondents at the end of the National Security Council meeting, which was held yesterday, in Abuja.  Recall that the Kogi State government and Dangote Group have been at loggerheads following a move by the State to seal-off the cement plant amid an ownership tussle. On Thursday, the State government insisted that the plant must remain…

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FG grants N16 trillion waiver to Dangote, Honeywell, others

Aminu Imam

The Federal Government has foregone N16.76 trillion in revenue to tax reliefs and concessions given to large companies between 2019 and 2021. These were contained in the tax expenditure statement (TES) reports in the Medium-Term Expenditure and Fiscal (MTEF) strategy documents posted on the website of the Budget Office of the Federation. As of the end of 2021, 46 companies had benefitted from various tax incentives and duty waiver schemes while the requests of 186 companies were still pending. The TES deals with revenue forgone on Company Income Tax (CIT),…

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Buhari commissions $2.5 bn Dangote Fertiliser Plant, Africa’s biggest

Aminu Imam

…Also commissions new airport terminal President Muhammadu Buhari yesterday conducted the tape-cutting ceremony marking the commissioning of the Dangote Fertiliser Plant, with a nameplate capacity of 3 million metric tonnes per annum in Ibeju Lekki, Lagos. The president inaugurated the $2.5 billion project in the presence of dignitaries including President of Dangote Industries Limited, Aliko Dangote, Lagos State governor, Babajide Sanwo-Olu, Central Bank of Nigeria (CBN) governor, Godwin Emefiele, and Minister of Trade and Investment Niyi Adebayo. The urea and ammonia fertiliser plant is the biggest of its kind in…

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Gombe Governor Commisserates With Aliko Dangote Over Death Of Brother, Sani Dangote

Aminu Imam

Umar Kaltungo Gombe State Governor, Muhammadu Inuwa Yahaya (Dan Majen Gombe) has commiserated with the Founder/ President of Dangote Group, Alhaji Aliko Dangote, over the demise of his brother and Vice President of the conglomerate, Alh. Sani Dangote who died in the United States after a protracted illness. Governor Yahaya, in a message of condolence, described the death of the industrialist and founder of Dansa Holdings Limited as a huge loss, not only to his immediate family, but the nation as a whole. He said the Late Vice President of…

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“I did not exempt Dangote Group from statutory charges”, Says Hadiza Bala-Usman

Aminu Imam

The suspended managing director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman, has stated that the agency under her leadership did not exempt Dangote Group from paying statutory charges at the Onne Ports, in Rivers State. This was contained in a statement released on Wednesday by Bala-Usman, where she described the allegations of flouting NPA rules as false and mischievous. Recall that the administrative panel set up by the minister of transportation, Rotimi Amaechi, to probe Usman will now focus on “insubordination” and not solely a case of non-remittance of N165…

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