Markets

Dangote Group Disburses N850m Compensation for Sugar Refinery Project

  • Dangote Group Disburses N850m Compensation for Sugar Refinery Project

Dangote Group has commenced the disbursement of more than N850m as compensation to land owners affected by its sugar refinery project in Tunga, Awe Local Government Area of Nasarawa State.

The N60,000 hectares was acquired by the group for the construction of the refinery.

Deputy Governor of the state, Silas Agara, who disbursed the funds to the beneficiaries on Thursday in Lafia, cautioned against impersonation and any act that would disrupt the project.

He said that government would sanction anyone sabotaging the effort, and assured that all those whose land was taken would be duly compensated.

Agara said the sugar refinery project was a rare privilege that would turn around the economic fortune of the community and state at large.

He lauded the community for their peaceful disposition since the acquisition of their farmlands and called for more cooperation for the success of the project.

The traditional ruler of the area, Mohammed Ibrahim Shuaibu, commended the Dangote Group for the compensation, explaining that names of the beneficiaries were compiled by a committee that included members of the community.

Ibrahim-Shuaibu assured the company of the community’s full support and cooperation, for the take off and smooth operation of the sugar refinery.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Nigeria’s External Reserves Drop to $40.09 Billion Amid Currency Market Challenges

Nigeria’s external reserves declined to $40.09 billion as of January 21, 2025, according to data…

14 hours ago

GTCO and UBA Lead Activity as Market Cap Holds Steady at N63 Trillion

The Nigerian stock market closed on a mixed note on Wednesday as the All-Share Index…

15 hours ago

Nigerian-American Billionaire Ogunlesi Sees Fortune Rise by $600 Million in One Week

The net worth of Nigerian-American billionaire Adebayo Ogunlesi has surged by $600 million in a…

16 hours ago

Pounds to Naira Black Market Exchange Rate Today, 24th January 2025

The exchange rate between the British Pound (GBP) and the Nigerian Naira (NGN) in the…

22 hours ago

Dollar to Naira Black Market Exchange Rate Today, 24th January 2025

How Much is Dollar to Naira Today in Black Market? As of today, 24th January…

23 hours ago

Tolaram Group Drives Guinness Nigeria to First Profit in Six Months Post-Takeover

Guinness Nigeria Plc has reported a pre-tax profit of N20.1 billion for the second quarter…

1 day ago