Official: 2002 Agreement Between Kogi State Government and Dangote Industries Limited on Obajana Cement Plant.
Extracts from the duly signed and stamped agreement:
- Project was at conceptual stage in 1992
- Preliminary feasibility study carried out in 1992
- Obajana Cement Company Plc with Certificate of Incorporation No. RC208767 dated 4th November, 1992 is solely owned by Kogi state
- Prospecting Right (Numbered PR No.14 of 2001 No.0053) was issued exclusively to the company
- Kogi state offered and transferred 90% of its total shareholding in the company to Dangote Industries Limited
- Kogi state is at liberty to sell half of its 10% equity to indigenes of the state by public offer or private placement
- 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.