The Dangote Group of companies on Monday released the official 2002 Agreement Between Kogi State Government and Dangote Industries Limited on Obajana Cement Plant.
According to the official Extracts from the duly signed and stamped agreement, the Project was at conceptual stage in 1992.
The agreement released by the company spokesman, Jonah2022 further pointed out that the Preliminary feasibility study was also carried out same 1992.
According to the released agreement, Obajana Cement Company Plc with Certificate of Incorporation No. RC208767 dated 4th November, 1992 is solely owned by Kogi state government.
The Prospecting Right (Numbered PR No.14 of 2001 No.0053) according to the agreement was issued exclusively to the company
“The Kogi state offered and transferred 90% of its total shareholding in the company to Dangote Industries Limited”
In the said agreement, “Kogi state is at liberty to sell half of its 10% equity to indigenes of the state by public offer or private placement.”
“Kogi state shall grant Dangote Industries Limited tax waivers and exemption from levies for a period of 7 years from the date of commencement of production”.