SEE THE INITIAL AGREEMENT BETWEEN DANGOTE AND KOGI GOVERNMENT SIGNED IN 2002, AND WHY THE STATE IS ANGRY

Official: 2002 Agreement Between Kogi State Government and Dangote Industries Limited on Obajana Cement Plant

Extracts from the duly signed and stamped agreement:

1. Project was at conceptual stage in 1992

2. Preliminary feasibility study carried out in 1992

3. Obajana Cement Company Plc with Certificate of Incorporation No. RC208767 dated 4th November, 1992 is solely owned by Kogi state

4. Prospecting Right (Numbered PR No.14 of 2001 No.0053) was issued exclusively to the company

5. Kogi state offered and transferred 90% of its total shareholding in the company to Dangote Industries Limited

6. Kogi state is at liberty to sell half of its 10% equity to indigenes of the state by public offer or private placement

7. Kogi state shall grant Dangote Industries Limited tax waivers and exemption from levies for a period of 7 years from the date of commencement of production