Shareholders associations fault Kogi’s action
BY BRIGHT JACOB
The ownership tussle between the Kogi State Government and the Dangote Group over Obajana Cement Company took another dimension on Sunday as the National Association of Kogi State Students vowed to defend the stand of the state government up to the World Court.
The students, in various institutions across Nigeria, threw their full weight behind the state government’s demands in a statement signed by the National President, NAKOSS National, and Chairperson, Council of 36 States Student Presidents, Rachael Mojirola Balogun.
They contended that the Dangote Group had, for long, carried out devastating economic injustice on the people of the state.
According to the indigenes of the state scattered across tertiary institutions of learning in the country, the state governor, Alhaji Yahaya Bello and the state House of Assembly should be commended for insisting on correcting what they described as the age-long economic intimidation and exploitation by the Dangote Group.
They accused Dangote of unfairly exploiting the state for years, with many either dying daily from environmental hazards arising from the company’s activities in the area or in the hands of its reckless drivers “that have killed many across Nigeria (countless Kogi State students inclusive).”
According to the students, the failure of the management of Dangote Cement to show evidence of responsible transfer of the shares of the company belonging to Kogi State is a clear pointer to the fact that the group allegedly robbed indigenes of Kogi of their birth rights.
They therefore insisted on defending the state government’s position up to the World Court.
They described as misleading, argument of the Manufacturers Association of Nigeria over the incident, stressing that MAN and other naysayers’ positions on the controversy were lopsided and lacking in merit.
The statement read in part: “As indigenes of Kogi State, we affirm that the Government of Kogi State, under Alhaji Yahaya Bello, should be commended for demanding evidence of a strange agreement that delivered our birth rights, 100 per cent, on a platter of gold to Dangote Group, despite the fact that Obajana Cement Factory was established and nurtured by the Kogi State Government until Dangote offered to partner with the state. There are documents already in the public domain detailing the economic injustice carried out against the Kogi people in view of an investment that has not for one day benefitted them.
“We have listened to the misleading argument of the Manufacturers Association of Nigeria (MAN) in its press statement of Friday, 7th October, 2022, and we are duty bound to inform the public that the argument of this association, which the whole world knows is being controlled by Alhaji Aliko Dangote, is lopsided and lacks merit.
“This and other such arguments by other associations in the league of MAN are, to say the least, a slap on the faces of indigenes of our state who have been unfairly exploited for years, with many either dying daily from environmental hazards arising from Dangote’s activities in the area or in the hands of its reckless drivers that have killed many across Nigeria (countless Kogi State students inclusive). All these hazards, yet nothing accrues to the government from a concern it created.
“Let it be clear that we are students of Kogi State learning in higher institutions across Nigeria; but we can safely reflect the minds of even our family members that this struggle is not that of the Governor or the House of Assembly alone. It is our collective struggle and we will seek justice as far as the International Court.
“We acknowledge the efforts of Aliko Dangote to industrialize the country, create jobs and wealth through various factories, but we wish to state unequivocally that he cannot rewrite history in our own case as we know the story of Obajana from inception.
“This case is simple. Show evidence of consideration or payment, 100 per cent, for our Obajana and we will tell the whole world to judge.
“It is our strongly held opinion that the fact-finding action of the Kogi State House of Assembly that exposed the inability of the Management of Dangote Cement to show evidence of responsible transfer of the shares of the company belonging to Kogi State is an action in the right direction, especially that the company was given ample opportunity to provide proof.
“We wish to call on public commentators, industrialist groups and well-meaning citizens to know the facts of the case before making public comments in order to avoid the counter-productive error of misinforming the unsuspecting public.
“While we appeal to both parties to embrace peace and dialogue, we strongly commend the Executive Governor of Kogi State, Alhaji Yahaya Bello and the State House of Assembly for the diligent efforts that culminated in shutting down the factory.
Meanwhile, the 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
President of the Association for the Advancement of the Rights of Shareholders, 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.
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 his dealing with Investors in the state.
According to him: “Why should the governor of a state in Nigeria, mobilize 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 sate, 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 and President of Boys Brigade Nigeria, 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.”
