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Dangote, BUA’s Fight Get Messier over Mining Right

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Alhaji Aliko Dangote
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There seems to be no end in sight in the crisis between the managements of Dangote Group and BUA Group over the mining rights in Edo State, according to New Telegraph.

 

The management of Dangote Industries Limited has, again, vehemently accused BUA Group of making untrue assertions against it. Dangote said that BUA was being dubious in claiming to be the rightful owner of Mining Lease No 2541.

 

The two companies, who had, on Wednesday, agreed to wait for a judicial outcome rather than resorting to self-help and/or using influence and agencies of government in disrupting operations at disputed mining areas in Edo State, yesterday, resumed the media war and continued to throw tirades at each other.

 

While Dangote, in a statement made available revealed that its reaction became very necessary as a result of its status as a publicly quoted company and to further re-assure its shareholders, the regulators and members of the public that the company was and remained a responsible corporate citizen, BUA said it was worried by Dangote Group’s penchant for seeking to further its the cycle of misinformation over the dispute through falsehoods and bigger lies.

 

Dangote is owned by Africa’s richest man, Alhaji Aliko Dangote while BUA is owned by billionaire, Alhaji Abdusamad Rabiu.

Alhaji Abdusamad Rabiu.

 

The Federal Government had, on Tuesday, ordered the shutdown of the mining site over the crisis. Faulting BUA’s claim that the Dangote Group was trying to monopolize the cement business in the country, Dangote said that BUA has willfully, deliberately and mischievously concealed the fact that it has at least 12 Mining/ Quarry Leases within and around the area in question as opposed to this sole Mining Lease No 2541 owned by the Dangote Group.

 

Dangote said: “First and foremost, there is no Status Quo Order made by any court that allows BUA to continue mining over the disputed mining lease area.

 

In fact, there is no status quo order at all. It is critical for us to point out that there is currently pending, a Motion for Interlocutory Injunction dated 27 April 2016, seeking to restrain the BUA Group from continuing with its illegal mining activities on the Mining Lease Area.

 

But in spite of having been served with this application and contrary to all tenets of the law which forbid a party served with an Interlocutory Injunction Motion from taking any step in respect of the subject matter of the suit, the BUA Group has, in utter disdain to the court, continued with its illegal mining activities.” Dangote said BUA applied for a Mining Lease over the same area in 2013, but the application was rejected by the Federal Ministry of Mines and Steel on the sole ground that it overlaps ML. 2541, which, at the time, belonged to AICO. “If BUA had title that dates back to 1998, is there any conceivable reason why it will apply for the same title over the same area in 2013?” the statement queried.

 

Dangote added: “It is misleading for BUA to falsely accuse Dangote of undermining its operations and attempting to create a monopoly in the cement industry in Nigeria, as we have always coexisted peacefully with other competitors in Obajana and Ibese.”

 

The claim by BUA that it has always been in possession of the disputed mining lease was also faulted by Dangote Group, as it affirmed that the Group “…has been the one in possession of the Mining Lease since 2016 and this was recently confirmed by the Kogi State High Court’s judgement delivered on 27 October 2017 in Charge No. HCL/65C/2017: State v. Joshua Oghene, Hon. Haruna Afegbua and Bulus Golit which sentenced the Chief Security Officer of BUA Group, Mr. Bulus Golit to one year imprisonment without any option of fine, for attacking Dangote Group’s officials and workers in the Mining Lease No. 2541.

 

“The imprisonment of BUA’s Chief Security Officer, amongst other things, has confirmed that the claim by the BUA Group that it has been in possession is totally fallacious.” But in a reaction, BUA noted that it viewed attempts by the Dangote Group to play to the gallery in the dispute over the Mining Areas covered by Mining Leases ML18912 and ML18913. In a statement released by its management, the company said that it has never laid claim to ML2541 “as our operations covered by ML18912 and ML18913 are in Obu, Okpella, Edo State and not Okene, Kogi State, where Dangote’s license 2541 is sited.”

 

“As Dangote has asserted, BUA’s licenses for ML18912 and 18913 were issued in 1997 and their ML2541 issued in 2016 (AICO, his predecessorin- title, claims to have received his in 2008). How can they then claim to be in possession when even their predecessor-in-title, AICO, was issued his license 10 years after BUA’s licences were issued and two years after the completion and commencement of production at our over $1 billion Obu Cement Factory? “In any event, AICO had instituted a suit at the Federal High Court, Lokoja claiming to assert his title to ML2541. Whilst that was pending, AICO, against all known principles of law, transferred his title to Dangote.

 

It is also worthy of note that Dangote further applied to the courts to assert his rights to ML2541. How can a party who claims to be in possession ask the courts to assert his rights to his licence? “It should also be noted that this is asides the notorious fact that our licence was initially issued in 1976 to Bendel Cement Company, one of our predecessors- in-title. “With reference to Dangote’s claims that we applied for a lease in 2013, to our knowledge, we are not aware of any application of this sort. In any event, it is common knowledge that participants in the mining industry continuously apply for mining rights on a regular basis and if/when we were made aware of such, we discontinued such a process.

 

“To further buttress our point, the Nigerian Boundary Commission’s report of 2006 clearly states that Obu, Okpella is in Edo State and not Kogi State. Even as recent as July 2017, the ministry confirmed, through a letter to BUA, our right to possession of licences ML18912 and ML18913 up till 2017.

 

“Isn’t it rather strange that Dangote who claims to have acquired Mining Lease 2541 from AICO in 2015, now seeks to interfere with BUA’s mining rights in ML 18912 and ML 18913 in Obu, Okpella in Edo State? It is also instructive to state that Dangote has, on several occasions, attempted to obtain injunctive reliefs from the Federal High Court, Benin, Edo State, in the course of the pending litigation, but the court declined making such injunctive Orders because whilst Dangote claims right to Mining Lease 2541 located in Okene, Kogi State, BUA claims right to Mining Leases 18912 and 18913 located in Obu, Okpella, Edo State. “Dangote has now resorted to using other means to achieve what it could not legally achieve in a court proceeding before a court of competent jurisdiction.”


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DBN Awards N13m in Grants to Tech Startups

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Development Bank of Nigeria (DBN) has awarded a total of N13 million in grants to three standout tech startups at the 2025 Techpreneur Summit held in Lagos, reinforcing its commitment to innovation and inclusive growth among Nigeria’s micro, small, and medium enterprises (MSMEs).

DBN Awards N13m in Grants to Tech Startups

The winners include: BuyScrap, a digital marketplace for recyclable materials – N6 million; Qiqi Farms, which connects local farmers to hospitality and export markets – N4 million; Eco-Cyclers, a youth-led recycling initiative based in Enugu – N3 million

Alongside the grant awards, DBN also launched a new digital data asset, a first-of-its-kind platform aimed at enabling data-driven decisions within the MSME ecosystem.

The platform offers deep insights into business trends, sector-specific challenges, and growth opportunities—supporting smarter policymaking and targeted investments.

In his keynote address in Lagos, Tony Okpanachi, managing director/ CEO, DBN,   described the event’s theme, “CTRL + SHIFT: Tech Empowered Movement for Naija,” as a strategic call to reimagine enterprise development in Nigeria.

“This isn’t just a keyboard shortcut,” he said. “It’s a mindset reset—powered by technology—to build a more inclusive, innovative, and resilient business landscape. From financing to innovation, DBN remains committed to enabling MSMEs to thrive.”

Okpanachi emphasized that the Summit aligns with DBN’s AMPLIFI Strategy, which integrates digital transformation, sustainability, and scalability into its core programs.

He highlighted initiatives such as the Digital Shift Workshops and the Eco-Innovation Challenge as key steps toward embedding innovation in Nigeria’s MSME sector.

Encouraging young innovators, he added: “The future belongs to those bold enough to imagine and build it. DBN is proud to support the ideas that will shape tomorrow.”

A major highlight was the unveiling of the DBN Data Asset—a digital platform designed to provide real-time, evidence-based insights into Nigeria’s MSME landscape.

The platform combines DBN’s proprietary data with external sources like the National Bureau of Statistics (NBS) to offer a comprehensive view of MSME performance by region and sector.

Jeremy Dan Okayi, DBN’s Head of Strategy, Policy & Innovation, described the platform as: “A reservoir of insight, potential, and direction—built on two years of collaboration and shared vision. This tool will support informed decision-making across the public and private sectors.”


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FCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations

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In a bold enforcement action, the Federal Competition and Consumer Protection Commission (FCCPC), supported by the Nigeria Police Force and the Nigeria Security and Civil Defence Corps (NSCDC), has sealed off the visa application centres of France, Belgium, and Italy in Abuja over alleged consumer protection breaches and obstruction of regulatory investigations.

The affected centres—located at Mukhtar El-Yakub House in the Central Business District and operated by TLS Contact, a Teleperformance Company—were shut down following reports that they refused to accept formal correspondence from the FCCPC regarding a consumer complaint. The Commission cited further infractions, including obstruction of investigation and alleged assault of its officers during lawful duties.

Speaking to journalists at the scene, Mrs. Boladale Adeyinka, Director of Surveillance and Investigations at the FCCPC, explained: “This is an enforcement operation against TLS. On March 25, 2025, we served them a letter to address a consumer complaint, which they refused to accept. Instead, TLS officers assaulted our team, and in a subsequent visit on June 17, they also allegedly assaulted uniformed police officers.”

Citing Section 33 of the Federal Competition and Consumer Protection Act (FCCPA), Mrs. Adeyinka emphasized that failure to comply with Commission directives constitutes a criminal offense, punishable by imprisonment, fines of up to ₦20 million, or both.

TLS has been ordered to appear before the Commission on June 20, 2025, to provide testimony, submit evidence, and make formal depositions. The company may be held liable for any financial losses suffered by applicants due to the disruption of visa services.

Despite multiple requests for comment, management at TLS Contact declined to respond as of press time.


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How and Why N210 Trillion is Missing in NNPCL – CFO

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Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.

How and Why N210 Trillion is Missing in NNPCL - CFO

According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.

He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.

Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.

Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.

Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.

“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”

However,  Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.

Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.

“Forget about the senators’ lack of knowledge.

“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?

“If it’s a cash call, why hasn’t the disclosure said so?

“Which cash call is over 100 trillion?

“Something is definitely not right, and I hope they retrospectively correct that FS.

“Someone somewhere did a chef’s work,” he wrote on X.

 

 


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