Operatives of the Department of State Services (DSS), on Tuesday, nabbed some officials of State Emergency Management Agency diverting palliatives meant for the citizens to cushion the effects of fuel subsidy removal.
Some of the suspects arrested at a popular market in Lafia, Nasarawa State capital where the items were being resold included officials of Nasarawa State Emergency Management Agency (NASEMA) and their accomplices
Spokesman of the secret police, Peter Afunanya, who disclosed the development to journalists in Abuja, explained that some of the diverted items were recovered from the suspects
Afunanya called on members of the public who may have information relating to the emerging trend to report same to the relevant security agencies for necessary action, saying the culprits would be punished according to laws.
“The Department of State Services (DSS) has received reports from some State Governments relating to diversion or sale of palliatives meant for their citizens.
“Consequently, the Service undertook investigations in that regard and has recovered some of the items as well as apprehended the suspects,” the DSS spokesman noted.
He noted that while their operation was ongoing in other states, the service has already intercepted a suspected criminal syndicate in Nasarawa State responsible for the diversion and sale of the palliatives meant for the vulnerable in the place.
Daily Trust reports that the federal government had a few weeks ago shared thousands of bags of rice, a staple food, across 36 States and the Federal Capital Territory in order to cushion the effects of fuel subsidy removal, particularly on the vulnerable citizens.
The Kogi East Senatorial Election Tribunal sitting in Lokoja has sacked Senator Jibrin Isah, (Echocho), the Senate Committee Chairman on Customs Excise and Tariffs, cancelling the election in 94 polling units in the district.
Consequently, the chairman of the Tribunal , Justice K.A. Orjiako, ordered Independent National Electoral Commission (INEC) to conduct a supplementary election in the affected 94 polling units in the district.
Dr Victor Adoji, Candidate of the Peoples Democratic Party (PDP), through his Counsel, Mr Johnson Usman (SAN), had challenged the return of Senator Isah on the ground that the elections were cancelled in some polling units where the PVCs collected were more than the margin of win.
The petitioner (Adoji) had pleaded with the tribunal to annul the election of Senator Isah and ordered for a supplementary election in the affected 94 polling units in the senatorial district.
In a unanimous judgement, Justice K.A. Orjiako agreed with the submission of the petitioner’s counsel (Usman SAN) and annulled Isah’s victory, including withdrawal of his certificate of return to that effect.
The tribunal chairman, Justice Orjiako declared in his ruling: “Since the PVCs collected in the 94 polling units is 59,730, while the margin of win is 26,922 votes, the Returning Officer ought to have declared the election inconclusive without making a return.
“Consequently, this honourable tribunal hereby granted the reliefs sought by the petitioners. We also set aside the Certificate of Return issued to Jibrin Isah.
“The tribunal hereby also orders INEC to conduct a supplementary election in the affected polling units where election did not hold or was cancelled in order to determine the winner,” he added.
The Abuja Electricity Distribution Company (AEDC) has said the general power outrage experienced across its franchise is due to the Nigeria Labour Congress (NLC) strike.
This was contained in a statement released via its social media platform X (formerly Twitter) on Tuesday.
The company recommended that consumers take necessary precautions to manage the outage effectively.
It urged them to unplug sensitive electronic devices and appliances from power sources pending the restoration of power.
The statement reads, “We are aware of the general power outage being experienced across our franchise due to enforcement by NLC of the two-day warning strike embarked upon by the labour union.
“We apologise for any inconvenience you may be experiencing as a result of this as we continue our engagement with key stakeholders towards minimising the impact of the strike on our customers.
“In the meantime, we recommend that you take necessary precautions to manage the outage effectively. Kindly unplug sensitive electronic devices and appliances from power sources pending the restoration of power.
“We will continue to provide updates on developments regarding the impact of the strike action on our operations through our official social media handles. Thank you for your understanding and continued support during this challenging time. We remain committed to serving you.”
The AEDC supplies power to the Federal Capital Territory (FCT), Kogi, Niger and Nasarawa states.
Apart from these states, there are currently power outages in Osogbo, Kano and other states as workers disrupted services because of the strike.
The Director of Strategic Communications for the Atiku/Okowa Presidential Campaign Council, Dele Momodu, has expressed his desire to expel the Minister of the Federal Capital Territory, Nyesom Wike, from the People’s Democratic Party if given the authority.
Despite his desire to sack Wike from the PDP, Momodu did not object to Wike’s ministerial appointment by President Bola Tinubu of the ruling All Progressives Congress.
Momodu said this while speaking on Channels Television’s ‘Political Paradigm’ programme aired on Tuesday (today).
“I don’t have the power, if I had the power, I would have fired him (Wike) long ago,” Momodu said.
PUNCH Online reports that Wike had challenged his party, the PDP, daring them to take action against him through suspension or disciplinary measures.
The former Rivers State governor asserted that he had yet to encounter a party leader who possessed the authority to suspend or expel him from the PDP.
He also claimed to be working for President Bola Tinubu and not the All Progressives Congress.
When questioned about his rationale for wanting to expel Wike from the party, Momodu responded, “Such an unruly person who wants to destroy our party? One individual cannot hold everybody to ransom. If we fought the military, Tinubu was part of those who fought the military in this country, and then, you will now allow a civilian dictatorship?”
Prior to the 2023 elections, Wike and four other former governors, collectively known as the G-5 within the PDP, withdrew their support for the party’s presidential candidate, Atiku Abubakar, due to disagreements over power-sharing within the PDP.
[Punch]
[PRESS RELEASE] Demolition Of DAAR Communications Plc (AIT and Raypower) Building and Equipment By The Rivers State Government
AdminThe Independent Broadcasting Association of Nigeria (IBAN) has condemned the wanton destruction of Daar Communications PLC’s (owner of African Independent Television and Raypower) building and equipment by the Rivers State Government, which occurred on Monday, 4th September, 2023.
IBAN has described the Rivers State Government’s action as self-help, illegal, and an abuse of the legal order prejudicial to our nascent democracy, as the dispute on the land between Daar Communications PLC and Rivers State Government is still a subject of litigation before a court of competent jurisdiction.
IBAN views the action of the Rivers State Government as an attempt to intimidate and silence the media, which is the watchdog of the society. It calls on the Rivers State Government to stay action and allow the judicial process to prevail on the matter.
Guy Murray-Bruce
Chairman, Independent Broadcasting Association Of Nigeria (IBAN)
[STATE HOUSE PRESS RELEASE] President Tinubu Arrives India And Heads Straight Into Top-Level Investment Meeting With Hinduja Chairman After 15 Hour Journey
AdminUndeterred by jetlag from a long intercontinental journey, President Bola Tinubu, on Tuesday, arrived in New Delhi to the immediate embrace of Mr. Gopichand Hinduja, the Chairman and CEO of the Hinduja Group of Companies, a conglomerate with a total asset portfolio exceeding $100 billion U.S. Dollars.
The Indian Industrialist was received by the President within 90 minutes of the President's arrival in India for a meeting, which began around 8:00pm local time.
Accompanied to the meeting by Nigeria's Ministers of Finance, Trade & Industry, and Foreign Affairs, the smiling Nigerian leader made it clear to his first visitor that he is in India with one focus: attracting investments to Nigeria with lucrative opportunities for investors, but most essentially, jobs for Nigerians and new revenue opportunities for Nigeria's federal and sub-national governments.
"We are here for business. I am here to personally assure our friends and investors that there is no bottleneck that I will not break. Nigeria will become one of the most conducive places on earth to make good profits and create lasting jobs. With my support, there is nothing standing in your way of enjoying the unrivaled opportunities presented by our massive market and the ingenious & hardworking nature of the Nigerian people. We are open for business," the President firmly assured.
The Hinduja Group Chairman told the President that he was a living witness to his landmark effort as Governor of Lagos in turning a coastal erosion and water encroachment crisis into a massive free trade zone where industry now thrives. This, he said, was partially responsible for his excitement to partner with Nigeria's new President to create win-win prosperity for Nigeria's talented population.
"We believe in you as a leader who has done this before. You know what the challenges are. You know how to fix them. We are going to make investments into the billions of dollars under your leadership, because we see you are already addressing the systemic problems. I am ready now to sign an MoU and to begin execution. You tell me who to liase with, and we will get to work immediately, particularly with respect to bus and automobile manufacturing in Nigeria, amongst other areas," the industrialist enthusiastically stated.
The President did not wait to respond.
"Ministers of Trade and Finance, the two of you will follow this up immediately, and you will draw up the terms to the satisfaction of both parties. If there are any issues at all that require my intervention, they must be brought to my attention immediately."
After the President assigned the task of concluding the agreement to the two Ministers in collaboration with Hinduja Group Executives, who were present in the room, the industrialist could not hide his excitement.
"I have had paperwork stalled in Nigerian bureaucracy for over one year, especially in FCT, but I knew that you would be purpose driven in this endeavour and God will help you to turn Nigeria's rich promise into rich reality for all of its citizens," the Indian Billionaire concluded.
The President concluded that his task of making Nigeria great can only be achieved through teamwork and not in isolation, noting that when his investors are happy, Nigerians will rejoice by partaking in an inclusive economy where hard work is rewarded and where excellence becomes the reputation of the nation.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
When on March 31st 2023, I offered my letter to step aside as National Chairman of the New Nigeria Peoples' Party (NNPP), my prayer and hope then was that this was an opportunity for the party to move ahead and move fast to consolidate on the indisputable gains made so far during the last 2023 General Elections and prepare for the forthcoming elections that lie ahead.
Unfortunately, in the last few weeks, the party has slipped deeper and deeper into avoidable crises and conflicts that have led to several cases of suspension and counter-suspension of key leaders of the party, acrimonious press war, accusations and counter- accusations, which regrettably has led to the factionalisation of the party.
After the historic merger of the party in March 2022, together with other astute, highly dedicated, hardworking and loyal members of the party, we put in place a robust political structure nationwide. The National Working Committee (NWC) forged cohesion among our members and created a formidable national platform that fielded candidates for all elective offices from the State Houses of Assembly to National Assembly, Governorship and the Presidency. I am proud to be part of that Dream Team.
It is on record that within a period of less than one year and despite the limited time corridor from the merger to the General Elections,
the party won elections in the Governorship, National Assembly and State Houses of Assembly seats.
However, I voluntarily stepped aside as the National Chairman of the NNPP shortly after the general election this year to give room for new hands and fresh ideas in order to advance the party forward. As far I was concerned, I never believed in the culture of sit tight in leadership positions nor that I was indispensable. The New Nigeria we all aspire to achieve must be built on the solid foundation of dedication, hardwork, resilience and personal sacrifice.
However, the recent disturbing developments in the NNPP with the emergence of factions working against each other is really unfortunate and counter-productive. Sadly,
there appears to be no end in sight in this needeless war of attrition. It seems that there's an unwritten code by the warring factions not to allow Elders of the party to mediate to finding a lasting solution to the crises. This is indeed regrettable and unhealthy for the growth and survival of any political party, especially an emerging political party such as the New Nigeria Peoples Party (NNPP).
Therefore, and in accordance with the NNPP Constitution, and having consulted widely, I hereby announce the withdrawal of my membership of the NNPP forthwith, and I pray and wish the party the best in her future endeavours.
I wish to call on all my friends, associates and supporters to remain calm and resolute while awaiting communications on future developments and our next direction.
Professor Rufa'i Ahmed Alkali
Former National Chairman, (NNPP)
The National Executive Committee of the New Nigeria Peoples Party (NNPP), has expelled its 2023 presidential candidate, Rabiu Kwankwaso.
His expulsion came following his alleged refusal to appear before the party’s disciplinary committee.
The former Kano governor had been earlier suspended by the party’s leadership at the National Convention on August 29 in Lagos.
Recall that the National Executive Council (NEC) of the NNPP set up a disciplinary committee and directed it to invite Kwankwaso to defend allegations of gross anti-party activities and mismanagement of party/campaign funds within five days.
Announcing his expulsion, the acting National Publicity Secretary of the party, Abdulsalam Abdulrasaq, said in a statement on Tuesday in Lagos, that the NEC had expelled Kwankwaso with immediate effect because of his refusal to honour the committee’s invitations.
“The NEC met in an emergency session on Friday, September 1 and resolved that following the refusal of Sen. Rabiu Musa Kwankwaso to appear before the disciplinary committee which sat on Thursday, August 31 after being duly invited in writing, he is hereby expelled from NNPP with immediate effect.
“That the erstwhile presidential candidate, Sen. Rabiu Musa Kwankwaso will be reported to appropriate quarters to answer questions on financial impropriety relating to mismanagement of public funds,” the statement said
[NationalDaily]
The two-day warning strike embarked on by the Nigeria Labour Congress (NLC) recorded partial compliance in some parts of the country on its first day.
The NLC had last week declared a two-day warning strike over the impact of petrol subsidy removal on the masses.
Labour had accused the federal government of abandoning negotiations with the union.
The congress also said the government has failed to implement some of the resolutions reached at previous meetings.
On Monday, the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) said its members would join the industrial action.
Reacting to the development, Simon Lalong, minister of labour and employment, appealed to the NLC to suspend the strike.
Lalong also pleaded with the NLC to give the government some time to settle and address the issues on the ground.
On the first day of the strike, commercial activities in most cities across Nigeria continued apace, with a lull in the financial services sector.
At the Lekki Phase 1 area of Lagos, some banks were open to customers while some fillings stations were seen attending to motorists.
Workers at the Ikeja distribution company in the Alausa area of the state were locked out of their offices while civil servants at the Lagos secretariat were seen going about their normal duties.
In Kaduna, government offices, banks and other financial institutions were shut in compliance with the industrial action.
In Edo, the NLC barred entry into the state high court premises while in Rivers, civil servants were seen at the state secretariat.
[TheCable]
Explains why Naira lost value
The 14th Emir of Kano, Muhammadu Sanusi II, has said former President Muhammadu Buhari-led administration was to be blamed for the current economic crises being experienced by Nigerians and not his successor – President Bola Tinubu.
The traditional cum religious leader of Dariqa Islamic sect said the Buhari government in its eight years mismanaged the country’s economy without listening to experts.
Sanusi II, who is a former governor of the Central Bank of Nigeria (CBN), spoke in an undated viral video while addressing his students at his regular Islamic teaching sessions.
He said government apologists or sycophants called the shots under President Buhari administration, adding that an “inexperienced boy” can own a private jet under the immediate-past administration because he gets Dollar at the official rate and take it to the black market for round tripping.
Sanusi II also said excessive borrowing by the Buhari government crippled Nigeria’s economy, the negative effects of which Nigerians are now facing, including loss of Naira value. He, therefore, urged the citizens to be patient with the current administration of President Bola Tinubu, who took over barely three months ago.
He stated that all that is currently happening in Nigeria had been foreseen and foretold by him, saying some Nigerians criticised him and dubbed him as an anti-government critic at the time.
He, however, added that this was not the right time for him to speak on the difficulties Nigerians were experiencing.
“The last eight years, Nigeria lived a fake life, the government borrowed from within and without. About N30 trillion was borrowed from the Central Bank.
“All the revenue the country generated in the last few years couldn’t cater for debt servicing. Debt servicing exceeded 100 per cent. Government borrowed to service debts. No country can grow this way. Time will come when one cannot even borrow any more. Additionally, there will be nothing available to pay the debts.
“Those writing, demanding that we speak on the current situation in the country; this is not the right time for me to speak. It was like a driver on the road driving recklessly despite repeated warnings about potholes ahead. What will you tell after plunging the car into the hole?
“People refused to listen to us then. We will only now advise them to be patient. I will never say Tinubu has pushed Nigeria into difficulty. I am not saying he is flawless yet. We will speak when he goes astray. The government can’t pay subsidies since it doesn’t have the means.
“If they increase tax, we will have to pay since borrowing is impossible. If the CBN printed more Naira, the Dollar would jack up to N1,500. We must suffer. When I was the CBN governor, Naira was about N150 to a Dollar. Today it’s somewhere around N900.
“They treated the economy the way they wanted and refused to listen to experts. In the last eight years, only sycophants succeeded. The sycophants bought Dollars at N400 and sold N540. Even an inexperienced boy who had never worked anywhere can own a private jet,” Sanusi II stated.
He, therefore, urged wealthy Nigerians to assist the needy in the present circumstance even as he admonished ordinarily Nigerians to also be financially prudent and disciplined.
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Former President Olusegun Obasanjo has said the four oil refineries in Nigeria will never work.
The four refineries are located in Warri, Port Harcourt and Kaduna states.
Obasanjo said the refineries will never work as long as the government continues to hold onto them.
The former president who stated this in an interview with The Cable Online Newspaper, said Shell Oil Development Company turned down his offer to them to run the refineries.
He disclosed that after much persuasion the managing director of Shell, at the time, listed four reasons why the oil company wouldn’t get involved in running Nigeria’s refineries, including “too much corruption in refineries.”
Recall that President Bola Tinubu last month assured that the petroleum refinery in Port Harcourt will start working by December 2023.
Tinubu, had in a statement by former presidential spokesman, Dele Alake, in August, said the “Port Harcourt refineries will start production by December 2023 after the completion of the ongoing rehabilitation contract between NNPCL and Italian firm, Maire Tecnimont SpA.”
The President stated this when he met with labour unions at the State House in Abuja to halt the last nationwide protest.
Labour, had among other things, demanded the government’s commitment to getting local refineries to work, an objective that has gulped about N11.35 trillion in the last 10 years.
But responding to a question on the state of Nigeria’s refineries in the interview, Obasanjo said, “They will not work as long as the government is keeping hold of them. When I was president, I invited Shell to a meeting. I told them I wanted to hand over the refineries for them to help us run. They bluntly told me they would not. I was shocked.
“I repeated the request and they stood their ground. When the meeting was over, I asked their big man (MD) to wait behind for a little chat. Then I asked him why they were so hesitant on not taking over the refineries. He said did I want to hear the truth? I said yes. He listed four reasons. One, he said Shell makes its money from upstream and that is where its interest lies. Two, he said they only do downstream or retail as a matter of service. Three, he said our refineries would be bad business for them, that globally, companies are going for bigger refineries because of the economics of refineries. Four, he said there is too much corruption in refineries.
“I thanked him for his honesty. I knew we had a big problem in our hands. I had virtually given up hope on the refineries when God did a miracle. Aliko Dangote and Femi Otedola approached me and said they would be interested in buying two of the four refineries. They said they would buy 51 percent stake in Port Harcourt and Kaduna. I was over the moon. I said, finally, this burden would be taken off the neck of the government. They offered $761 million and paid in two instalments. Unfortunately, Umaru (President Yar’Adua) cancelled the sale and returned the refineries to NNPC. Today, we are still where we were. Someone told me Tinubu said refineries would work by December. I told the person the refineries would not work. This is based on the information I received from Shell when I was the president.”
On the power sector, Obasanjo said “You can only get the power sector right when you get all the fundamentals in the power sector right. In 2006, we ordered 42 turbines that should have been completed if not by 2007 then in 2008. My target was 10,000 megawatts of power by 2007.
“Up till today, I understand that five of the turbines have yet to be installed. I have been out of the office for 16 years. If after 18 years when those turbines had been ordered, five have still not been installed, what are you talking about?”
He said his administration did all it could do in the sector he left office, adding that it is still struggling with 4,000 megawatts since he left office in
Restates no going back on subsidy removal
Vice President Kashim Shettima has said that Nigeria, which used to be the sleeping giant of the world, is now ready to take its rightful place in the global arena.
“Nigeria, the sleeping giant of Africa, has woke up from its slumber,” Senator Shettima said on Tuesday at the 16th Annual Banking and Finance Conference holding in Abuja.
Shettima, therefore, restated that the withdrawal of fuel subsidy was irrevocable.
The Vice President said President Bola Tinubu was determined to catapult the nation to higher pedestal.
He enjoined the participants at the conference to come on board to help build a nation for all.
“This is a great nation on chains.
The potentials are there. It’s the leadership that is missing. That is what is lacking in our midst. We have the resources. We are closer to Europe than India,” he said.
The Vice President said the current administration was partnering with some banks to drive a digital economic process. He said some banks were already working with government to teach our young men digital skills to compete in the global digital space.
“Let’s walk the talk. We are open for business. Nigeria is the destination of choice for any savvy investors,” he said, while encouraging the bankers’ committee to utilise emerging and distracting technologies to harness Nigeria’s economic opportunities.
“We must prioritise financial inclusion and equal opportunity for everyone,” he added.
While noting that the forum was not one for name calling, Shettima said it was a sanctuary for innovation and vision for a better economy.
He ended his speech with the claim that as depressive as Nigeria’s challenges were, they are also pregnant with opportunities.
He told the participants that the Renewed Hope Agenda of the Tinubu-led administration can’t be fully implemented without their cooperation, adding that, “We seek your partnership in getting this done.”
The National Assembly and State Houses of Assembly Election Petition Tribunal sitting in Ilorin, Kwara State yesterday dismissed three petitions filed by aggrieved candidates to challenge the outcome of the National Assembly elections held on February 25,2023.
The tribunal in a judgement dismissed the petition filed by Senator Biodun Olujimi of the Peoples Democratic Party (PDP) challenging the election of Senator Yemi Adaramodu of the All Progressives Congress (APC) in Ekiti South senatorial district.
It also dismissed the petitions filed against the Independent National Electoral Commission (INEC) by Engr Dare Bankole, a candidate of PDP in Ekiti/Oke-Ero/Irepodun/Isin Federal Constituency of the House of Representatives in the election as well as another petition filed by the New Nigeria People’s Party (NNPP) on election into Ifelodun/Offa/Oyun Federal Constituency of Kwara state.
Delivering judgment on the petition filed by Senator Olujimi, Justice J.O. Abdulmalik ruled that there was no malpractice and over voting in the election as alleged in Olujimi’s petition.
“The petitioner failed to prove his case that there was corruption and over voting in the Ekiti douth senatorial district election conducted by the Independent National Electoral Commission on February 25,2023,” the tribunal held.
It awarded a cost of N300,000 against the petitioner which Justice AbdulMalik said should be paid to the three respondents who included INEC, Adaramodu and APC.
On the petition filed by Dare Bankole against INEC on the election into Ekiti/Oke-Ero/Irepodun/Isin Federal Constituency of Kwara state, Justice Abdulmalik dismissed the petition and awarded cost of N600,000 against the petitioner which she said should be paid to the respondents who included INEC, Hon Raheem Ajuloopin and the APC.
Bankole had challenged the results of the election conducted in the Constituency on February 25,2023 alleging non compliance with the 2022 Electoral Act and malpractices during the conduct of the election.
The tribunal held that the petitioner failed to prove his case before it.
Reading another judgment delivered by the tribunal, Chief Magistrate Izabi Bashir also dismissed a petition filed by the NNPP on the election conducted into Ifelodun/Offa/Oyun Federal Constituency on February 25,2023.
The Petitioner had alleged non compliance with the Electoral Act and corrupt practices in the election by the APC and it candidate, Hon Tijani Bashir.
The tribunal ordered the petitioner to pay a fine of N200,000 to each of the three respondents.
Dangote Cement has clarified the allegation that it is selling a bag of 50kg cement to Nigerians at an exploitative rate of N5,200 while it sells the same quantity of cement at N1,500 in the Republic of Benin was not true.
Investigation in Cotonou at the weekend revealed that Dangote Cement was not on sale in Cotonou or anywhere in the Republic of Benin. While Dangote does not officially export cement to Benin Republic, it only uses the country as its transit route to export cement to Togo.
It was discovered that the average price of 50kg (32.5r) bag of cement in the Benin Republic was N6,216, which was about 4,200 Cefa).
The two strongest determinants of the price of cement in the Republic of Benin, according to THISDAY’s findings, were the fixing of cement’s price by the country’s government to ensure stability and the imposition of about 51 per cent duty and other taxes on imported cement to discourage importation of the commodity and encourage local production of cement.
An online publication had published a story on August 27, 2023, in which it had stated that, “Nigerians have taken to social media to call out billionaire Aliko Dangote for selling his bag of cement for N5,200 in his own country but selling at N1,500 in Benin Republic.”
However, a Cotonou-based chief executive officer of Marketing Challenge Agency (MCA), Mr. Dia Ibrahim Kola said that the government of the Republic of Benin was striving to maintain a stable price of cement in the country through a price regulation regime instead of subsidising its supply.
He said the country’s policy was to discourage importation of cement and encourage its local production with high import duty and taxes for cements that do not qualify under the ECOWAS Trade Liberalisation Scheme (ETLS).
“We have about four cement manufacturers, including Lafarge and others. The government has a fixed price and often sends a taskforce to monitor compliance, especially in Cotonou.
“But it is important to emphasise that the government does not subsidise the price of cement in Benin.
There was a period of high scarcity that the price went up to CFA 100,000 per tonne, which forced the government to intervene to stabilise the market,” he said.
However, the management of Dangote Cement clarified that the price of a bag of cement from its factories across Nigeria as at August 28, 2023, was N4,010 (about 2,730 Cefa) in Okpella and N4,640 (about 3,135 Cefa) in Ibese, Objana, and Gboko. It added that transportation costs and the location of delivery, might cause the prices to hover between N5,000 and N5,300 per bag 50kg.
Group managing director of Dangote Cement, Mr. Arvind Pathak, advised that, it was important to distinguish Dangote Cement’s ex-factory prices from prices at which retailers sell cement in the market.
Pathak said Dangote Cement was focused on delivering quality cement at the best price possible, despite the current inflationary environment.
“We continue to innovate new ways to deliver quality products to millions of our customers across Africa, while providing top-notch customer services. At Dangote Cement, we are committed to building an inclusive and sustainable business for all stakeholders across the value chain,” he said.