Business

Kogi Communities Jubilate as Dangote Cement Obajana Plant reopens

Published

5 months ago

October 16, 2022

Kogi Communities Jubilate as Dangote Cement Obajana Plant reopens

There were huge scenes of jubilation among affected host communities following the Federal Government’s order for the immediate reopening of the Dangote Cement Plc plant at Obajana in Kogi State.

Members of the host communities from Iwaa, Oyo, Obajana, and Apata who spoke to newsmen said they could now heave a sigh of relief as the consequences of shutting down the factory were better imagined than described, a situation which was worsened with the recent ASUU strike that kept students at home across the country.

Recall that the National Security Council (NSC), chaired by President Muhammadu Buhari, had Friday directed the reopening of the cement plant, after raising concerns about job losses, potential increase in criminality and resultant unemployment in the area and the State due to the shutdown.

Minister of Interior, Alhaji Rauf Aregbesola told newsmen that an agreement had been reached between the Dangote Group and the Kogi State Government on the need to reopen the factory, while urging both parties to respect the agreement.

Reacting to the latest directive, Secretary of the Association of Fresh Fish Dealers at the Obajana market, Mrs. Lola Adinu, told newsmen that her association members were overjoyed when the news came that the Federal Government had ordered the reopening of the factory.

Mallam Bala Dreba, a 50-year-old commercial motorist plying the 43km concrete Obajana-Kabba road that was constructed by Dangote Industries Limited, said travelers from the South and from the North were apprehensive about the security of the road and its environs since the recent invasion of the company by Government vigilantes. Dreba said the road is now the most important road network linking the Northern and Southern parts of Nigeria.

Commercial motorcyclists who brandished green leaves in victory were seen cruising in different directions on Friday evening and Saturday morning to celebrate the announcement by the Federal Government.

Adamu Ibrahim, a 45-year-old commercial motorcyclist, and father of four lamented that commercial activities had been paralysed after the invasion of the plant by thugs. He expressed joy that the situation is now reverting to the usual economic bustle in Obajana.

A community leader, Pa Isaac Ade, said the Federal Government’s announcement was welcomed with jubilation in his neighbourhood because the lives and the livelihood of the host communities revolve around Dangote Cement Plc.

“Without this company, the communities cannot survive, the markets cannot survive, the commercial motorcyclists cannot survive, and if I may add, this Local Government and the state, in general, will be badly affected,” Mr. Ade averred.

Dangote Cement Plc is the biggest taxpayer and employer of labour in Kogi State. The conglomerate is a part of the Dangote Industries Limited, which is also the second largest employer of labour in Nigeria after the government, as well as the highest private-sector taxpayer to the Federal Government.

The Manufacturers Association of Nigeria (MAN), the Nigeria Labour Congress (NLC), the Nigerian Economic Summit Group (NESG), the Trade Union Congress (TUC), and the Shareholders Associations in Nigeria, had all berated the Kogi State Government over the invasion and the closure of the cement company.

In the same vein, the Nigerian Association of Chamber of Commerce Industry Mines and Agriculture (NACCIMA), the Lagos Chamber of Commerce and Industry (LCCI) as well as the Abuja Chamber of Commerce and Industry (ACCI) were among groups who condemned the invasion of the Dangote Cement plant, saying the move was capable of driving away investors in the country.

The associations said the hasty move by the state in resorting to self-help could send the wrong signal to investors within and outside the country.

Peter Dare, a businessman at the Obajana main market described the closure situation as worrisome, but added that activities in the market were picking up soon after the government ordered the reopening of the factory. He said thousands of people would have been impoverished if the company was not reopened.

At Iwaa, location of the multi-million naira hospital built by the Dangote Cement Plc, the story was the same, as residents were jubilating that the Federal Government waded into the crisis and rescued the situation.

A Septuagenarian, who sought anonymity, said he had been wondering how he would offset the tuition fees of his two children in the university following the calling off of the eight-month-old industrial action by the Academic Staff Union of Universities (ASUU).

Some of the Dangote Cement staff who are indigenes of Kogi State welcomed with excitement the intervention of the Federal Government. They had earlier expressed fear that the closure would have sent them out of jobs.

Dangote Cement Plc Obajana Plant had said that most of its workforce, and technical students at the Dangote Academy situated in Obajana are indigenes from Kogi State.

In a statement, the Advocacy Centre for Industrialisation in Africa (ACIA) had expressed regret that the invasion and forceful closure of the Dangote Cement Plc at Obajana has cast a shadow on the Ease of Doing Business in the state.

The Arewa Youth Assembly, a conglomeration of youth groups in the 19 northern states had vehemently condemned the Kogi State Governor Yahaya Bello, describing his closure moves as a war against employment and the youth.

Business

GTCO Food & Drink Festival 2023… A Celebration Of Food!

Published

11 hours ago

March 21, 2023

Sahara Weekly

GTCO Food & Drink Festival 2023… A Celebration Of Food!

The annual GTCO Food & Drink Festival is back again for its 6th Edition, and food lovers across Africa and the world are in for a feast like never before! The event is slated to hold from Saturday April 29th till Monday May 1st 2023, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos, providing a 3-day weekend of food and endless celebration.

The GTCO Food & Drink Festival brings together the greatest minds on the global culinary stage, the most industrious Nigerian small food business owners, a world class, state-of-the-art children’s play area, merging them all to give attendees the most memorable food and drink event.

Commenting on the 2023 GTCO Food and Drink Festival, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Segun Agbaje, said; “Food and drink are intrinsically social things, and best enjoyed when shared. We understand the value of bringing together businesses and consumers who are passionate about food and have continued to inspire new ways to experience life through food and drink. The continuing success of our free-business platforms reflect our unchanging commitment to Promoting Enterprise and echoes our brand promise of creating Great Experiences.”

Constantly innovating the space and on a quest to continue creating great experiences for all stakeholders, GTCO Food & Drink will be expanding its capacity by creating more opportunities for more businesses and increasing its highly coveted vendor stalls from 142 to 204, giving even more innovative and assiduous business owners the chance to not only showcase their businesses to the over 250,000 foodies in attendance, but also engage with their customer base and learn from a confluence of other great-minded food entrepreneurs. The event will also feature three premier DJs in Africa, setting the scene for a weekend of celebration, food, drink, and togetherness.

Guaranty Trust Holding Company Plc is a leading financial services company providing banking and non-banking services including payments, wealth management, and pension fund management, with a presence across eleven countries spanning West and East Africa as well as the United Kingdom. The Group operates a diversified, Proudly African franchise and is renowned for its innovative approach to customer service and stakeholder engagement which has endeared the brand to millions of people across Africa and beyond. Over the years, many customers have benefited from its unique loan products including the Food Industry Credit and Fashion Industry Credit designed specifically for businesses in the food and fashion industry.

It’s time once again to come together and celebrate the great joys food has to offer! Attendance is FREE.

For more information on the event, please visit: https://foodanddrink.gtcoplc.com

Business

Aliko Dangote Makes N460bn In A Day, Overtakes Four On Billionaires’ List

Published

23 hours ago

March 20, 2023

Sahara Weekly

Aliko Dangote Makes N460bn In A Day, Overtakes Four On Billionaires’ List

DANGOTE– Nigerian business tycoon, Aliko Dangote, overtook two Russians, one Chinese and an Indian on the billionaires’ list on Monday, after making N460bn in a day.

The Chief Executive Officer of Dangote Group made the profit following increased demand for Dangote Cement, beating his fellow billionaires by earning about $100 million.

He maintains a majority share at his Cement company, following the company’s announcement of a significant share buyback two weeks ago.

According to Bloomberg Billionaire Index, Dangote remains Africa’s richest man, a feat he has maintained for 12 years in a row.

Business

Sterling Bank Shines Spotlight on Creative Industries Potential

Published

1 week ago

March 14, 2023

Sahara Weekly

Sterling Bank Shines Spotlight on Creative Industries Potential

“Nigeria’s leading financial institution, Sterling Bank Plc, has reiterated its determination to empower and energise the creative industry because of its strategic importance to the economic growth of Nigeria.”

Head of Media and Entertainment Financing at Sterling Bank, Mr. Olanrewaju Olalusi, disclosed the above at the weekend in Lagos while addressing participants at a seminar organised by the Legends of Nollywood with the theme: “Empowering the Nigerian Film Industry – Actualizing Your Resources.”

He said the bank had begun exploring financing of the creative industries in addition to its HEART sectors programme because of its importance to the national economy.
Sterling Bank has become renowned for its strategic focus and investments in the Health, Education, Agriculture, Renewable Energy and Transportation sectors of the Nigerian economy. These sectors have been affectionately dubbed the HEART of Sterling, and our HEART has contributed immensely to the growth of the bank, the sectors and the Nigerian economy.

Olalusi said it is important for artists to leverage funding from financial institutions to scale the level of their operations, remarking that the bank has set up a desk for the purpose of financing practitioners in the creative industry, information technology (IT) and animation, among others.

“We are open to having conversations with partners in the creative industry on the way forward.” He said.

He said that the industry was bustling with amazing talent and potential. But he highlighted a key challenge confronting the industry; a lack of viable business plans on the commercial perspective of creativity to show investors.

He continued by saying that there is a growing need for artists to separate their businesses from themselves and focus on improving their access to infrastructure and a ready market for their creative expressions.

Through collaborations with dedicated partners like Sterling, creatives can better their lot, both creatively and commercially, by leveraging financial advisory services, commercial loans, and other specially designed products to further capacity building and move the industry forward.

In a keynote address by Lagos State Commissioner of Planning and Budget, Mr. Samuel Egube, urged operators in the creative industry to think more deeply about how to seize available opportunities in the industry. He noted that if the industry must grow, then it should be able to attract financial resources from investors, adding that government alone cannot drive the growth in the industry.

He said the business plan should present a strong case to encourage investors to invest. He disclosed that the Lagos State Government has plans to build a media city in the Lekki axis for practitioners in the creative industry to leverage on under its 30-year development plan.

Also speaking, the President of the Association of Movie Producers, Mr. Paul Obazele encouraged his colleagues to lift the industry to a show business level by leveraging financial institutions to scale their operations instead of relying on grants alone.