Connect with us

Business

BUA Kicks as Obaseki Orders Arrest of Two Workers

Published

on

BUA Sugar
  • BUA Kicks as Obaseki Orders Arrest of Two Workers

Two workers of BUA International Limited were arrested on Wednesday on the order of Edo State Governor, Godwin Obaseki, for allegedly flouting a stop-work order issued by the Federal Government over the disputed Obu mine in Okpella.

The suspects were arrested when the governor and some heads of security agencies visited the site in Etsako East Local Government Area of the state.

It was learnt that some explosives used for mining operations on the site were also confiscated and moved to the Army Brigade Command on the order of the commander.

The Obu mine has been a subject of disagreement between BUA and the Dangote Group, with both parties claiming ownership before the matter was taken to court.

The Federal Ministry of Mines and Steel Development and the Edo State Government had also ordered the shutdown of the mine pending the determination of the court case on the issue.

But the governor, who was accompanied by the Commander of the 4th Brigade, Nigerian Army, Brig.-Gen. Ibrahim Garba; Commissioner of Police, Babatunde Kokumo; and men of the Nigeria Security and Civil Defence Corps and the Department of State Security, said the continuous operation on the site was a disregard for constituted authority.

According to him, the state government is more interested in the security of lives and property, adding that while there was the need for investors to make profits from their investment, “no money is worth any life.”

Obaseki, in a statement by his Special Adviser on Media and Communication, Crusoe Osagia, said, “There is a dispute over the ownership of this mine. The dispute is in court. There was a specific instruction from the Minister of Mines and Steel Development asking that work should stop pending the outcome of the matter before the court.

“I addressed a section of the Okpella community, who came to me to express concerns about the growing tension in the community because of the dispute. At that point, I issued instructions that the work should stop in line with the Federal Government’s directive and the case in court.

“I said that the status quo (should) be maintained until the determination of the case in court. I think that is the simple common sense thing to do. There is a quarrel and all parties should maintain peace and the status quo.”

The governor also accused the management of BUA of claiming that the state government had no authority and right to enforce a Federal Government directive.

He added, “What they are saying in essence is that government does not matter. That sort of utterance and position is very dangerous for our country, for a company that needs government to treat us with such disdain.

“With this, things will degenerate into anarchy. How can they operate in such an environment? We do not care who owns what; but human life is more expensive than whatever money anybody can make.”

The governor also explained that the visit to the site was to assure the people of the area that the government was on top of the situation to ensure peace in the community.

Also speaking, the Okuokphellagbe of Okpella, Alhaji Andrew Dirisu, maintained that the community was open to a peaceful resolution of the crisis.

Dirisu, who spoke when he received the governor at his palace, said, “There is no way we will not welcome people to invest. But what we want is for everyone to take what they get and no one should take from another.

“For now, as you have given your order, who are we to dispute it? I thank you for calling for peace in this matter.”

Meanwhile, BUA described the action of the governor as “a gestapo-style forceful shutdown of that mine despite a subsisting court pronouncement that the mine be allowed to operate.”

It said in a statement, “Upon reaching that mining site and not meeting any personnel or equipment, two BUA Cement employees were invited to the mining site to receive the governor. We later learnt that these employees were arrested upon arrival on the orders of the governor and taken away for no just reason.

“As it stands, we do not know why they were arrested but have requested our lawyers to secure their unconditional release immediately as these employees are innocent and have no knowledge of why they were being arrested.

“Now that one of our mining sites has been forcefully closed down by the governor without regard to the court’s pronouncement on maintaining the status quo at that particular site (and without any formal communication from the Edo State Government), BUA as a responsible corporate entity has instructed its lawyers to report back to the courts on this latest developments and pursue all legal channels to enforce its rights.”

BUA added, “Whilst the governor based the legitimacy of his actions on a purported stop-work order from the Ministry of Mines, BUA wishes to reiterate that there is a pronouncement of the Federal High Court sitting in Benin on December 5, 2017 that declared the stop-work order issued by the ministry as a contravention of the court’s directives to maintain the status quo and thus deemed it illegal. The same court also threatened to arrest the minister, who is the first defendant in the case, if the stop word order continues to be pursued.

“We once again ask all parties to await the conclusion of the judicial process as this matter is already before a court of competent jurisdiction.”

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.

Continue Reading
Comments

Business

Onne Port Gets $115M Boost as VP Shettima Inaugurates New Terminal Equipment

Published

on

Lekki Deep Seaport

Nigeria’s Vice President, Kashim Shettima, has inaugurated a new $115 million terminal equipment at the Onne Seaport in Rivers State.

Represented by his Personal Assistant on Subnational Infrastructure, Mr. Musaddiq Mustapha, the Vice President said the new will aid infrastructure development and catalyze economic growth.

According to the Vice President, the new upgrade is expected to enhance the operational efficiency of the port and improve trade within Nigeria’s maritime sector.

The upgrade was spearheaded by the West Africa Container Terminal (WACT), a subsidiary of APM Terminals.

It included the installation of advanced terminal machinery, an upgraded administrative building, and a cutting-edge CCTV surveillance system.

“This equipment will open new opportunities for trade development in Nigeria’s maritime sector,” Shettima said.

He lauded WACT and its partners for their dedication to modernizing the port and ensuring its competitiveness.

Frederik Klinke, Managing Director of APM Terminals, highlighted the company’s strong safety record and its long-standing commitment to manpower development programs that benefit local communities.

He thanked the federal government for creating an enabling business environment that has allowed the terminal to thrive for nearly three decades.

In attendance was the Minister of Marine and Blue Economy, Mr. Gboyega Oyetola, who commended APM Terminals for its continued investment in the West Africa Container Terminal.

He assured that the ministry would continue to back modernization efforts aimed at reducing the cost of doing business in Nigeria.

Continue Reading

Company News

Dangote Refinery Denies NNPC Petrol Lifting Claims Amid Ongoing Contract Talks

Published

on

Dangote Refinery

Dangote Refinery has refuted claims that the Nigerian National Petroleum Corporation (NNPC) had begun lifting petrol from the refinery and set the pump price at N897 per litre.

In the BusinessDay publication, the newspaper reported that NNPC commenced petrol lifting on Wednesday and set the pump price at N897/litre.

Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Refinery clarified that NNPC has not yet begun lifting Premium Motor Spirit (PMS) from the refinery.

According to Chiejina, discussions between Dangote Refinery and NNPC on the contract for petrol lifting are still ongoing and have yet to be finalized.

Chiejina said since no petrol has been lifted, the claim of setting a price for the product is unfounded.

He further noted that the pricing of PMS falls under the jurisdiction of the government and is strictly regulated, meaning Dangote Refinery has no authority to set prices independently.

The company assured Nigerians that once operations begin, the refinery will deliver high-quality petroleum products across the country.

Chiejina urged the public to disregard the misleading headline and assured that accurate information will be provided as the refinery prepares to commence full operations.

The statement concluded by reiterating Dangote Refinery’s focus on contributing to Nigeria’s energy sector and meeting the nation’s demand for top-tier petroleum products.

Continue Reading

Business

Femi Otedola Applauds Dangote’s 25-Year Journey to Energy Revolution

Published

on

Dangote Refinery

Billionaire businessman Femi Otedola has congratulated his long-time friend and business partner, Aliko Dangote, on the success of Dangote Refinery.

In a heartfelt message released on his X account @realFemiOtedola, the billionaire reflects on their shared 25-year journey to reshape Nigeria’s energy sector.

Otedola said “Aliko, it feels like just yesterday, but it has been 25 long years since we first set our sights on transforming Nigeria’s energy landscape. I remember vividly when we set up the Blue Star Consortium to acquire stakes in the Kaduna and Port Harcourt refineries—20% for me and 51% for you. We were ready to change the game, but fate had other plans. The government of the day, in an act I can only describe as utterly obnoxious, canceled our stakes and thwarted our vision. But, as always, you refused to be deterred.”

“You never gave up on the dream we shared. You carried the torch forward, igniting a spark that has today become a roaring flame. And now, 25 years later, here we stand on the precipice of history, with the first fuel shipment from the Dangote Refinery—a feat that is nothing short of miraculous.

“While the Kaduna and Port Harcourt refineries have remained dormant, their promise unfulfilled despite billions of dollars spent on so-called turn-around maintenance, you have achieved what many said was impossible. You have beaten all the skeptics, silenced the naysayers, and proved wrong those who doubted your resolve, even those who never wanted this project to succeed.”

You have not just built a refinery; you have liberated us from the chains of economic dependence that have held this nation back for far too long. The days of bowing to foreign powers for our fuel needs are over, thanks to your vision and determination.

“You have dealt a death blow to the so-called local cabals who have fattened themselves for years, feeding off our nation’s economic slavery. These cabals, who have grown rich by keeping Nigeria in a perpetual state of dependence, must now face the reality that their era of easy gains is coming to an end.

“I am reminded of the time you revolutionized the cement industry in Nigeria. Ships that once brought in cement turned into rusting relics, scraps of a bygone era. Now, with your refinery in full swing, I foresee a similar fate for fuel imports. The depot owners should take heed—it’s time to dismantle those depots and sell them as scraps while the market is still high.

“The world has changed, and those who do not adapt will be left behind. When I ventured into the depot business with Zenon, it was in response to the inefficiencies of the NNPC. Zenon pioneered the diesel business in Nigeria and quickly became the largest in the country, filling the gaps left by our inefficient system.

“But today, your refinery stands as a beacon of what is possible when one has the audacity to dream and the tenacity to see it through. Aliko, you have my deepest admiration and respect. Congratulations to you and the entire board, management and staff of Dangote Refinery on this monumental achievement.

“This is not just a victory for you but for every Nigerian who dares to dream. May this be just the beginning of even greater things to come.”

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending