Friday, January 22

Tag: BUA Group

‘Was Nigeria Created For Dangote Or Was Dangote Created For Nigeria?’ – FFK
Politics

‘Was Nigeria Created For Dangote Or Was Dangote Created For Nigeria?’ – FFK

The Nigerian government has allowed Dangote Cement to resume exports across its land borders which have been closed for over a year; and this has raised brows BUA Group and a gas company have also received presidential approval to move goods across the land borders, Joseph Attah, the spokesperson for Nigerian Customs, said. A number of Nigerians reacted asking the reason for this preferential treatment. Former Aviation Minister, Femi Fani-Kayode reacted on Instagram by sharing a photo of Dangote and writing: "During the Covid19 lockdown Dangote trucks were allowed to drive through Ogun state but everyone else was stopped. "Today Dangote trucks are allowed to go through our land borders but everyone else is stopped. "Was Nigeria created for Dangote or was Dangote created f...
Obu Mines: BUA Threatens Dangote Group With Contempt Of Court Proceedings
Business

Obu Mines: BUA Threatens Dangote Group With Contempt Of Court Proceedings

BUA Group has warned Dangote group to remove its excavators and trenches used in barricading the entrance of Obu Mines in three days or face contempt of court proceedings. BUA Group in a statement said that Dangote in its not so surprising tactic and in total disregard for the court and rule of law has laid siege on BUA’s Obu mines Okpella by placing excavators and creating trenches at the entrance to effectively prevent BUA Vehicles from operating at the mining sites even after a competent Federal High Court in Benin recently granted BUA rights over the mines. While drawing public attention to the Dangote’s illegal self-help measures, BUA warned Dangote to restore access to its mining sites, by refilling the trenches and removing their excavator, within three days or it will Insti...
Okpella Mining Site: BUA Group Tells Dangote To Respect The Judicial Process
Business

Okpella Mining Site: BUA Group Tells Dangote To Respect The Judicial Process

BUA Group has described the publication of Dangote Group wherein it stated that BUA misinterpreted the fact about a pending court case as untrue and laden with fraught misrepresentations. A statement by BUA Group explained that Dangote, in its hurry to twist facts, failed to justify the alleged misinterpretation in its publication but stylishly stated that it has appealed the judgement whilst accepting the recent court order, which granted BUA the right to peaceful possession and operations of three of its mining sites in Obu, Okpella in Edo State. “In the said publication by Dangote Group, it was alleged that the initial publication of the BUA Group was riddled with misrepresentations and deliberate distortions of facts. We however note that the Dangote Group failed to identify any ...
Dangote Group insist on ownership of Obu-Okpella Mines
Business

Dangote Group insist on ownership of Obu-Okpella Mines

The management of Dangote Group yesterday denied the claim by the BUA Group to the mining sites in Obu, Okpella, Edo State, as the latter said it relied on the Federal High Court recent judgment in Benin. Dangote advised the regulatory agencies to disregard completely the unfounded and mischievous claim and publication by the BUA Group, saying it was riddled with misrepresentations and deliberate distortions of facts Dangote Group in a statement signed by the Group Executive Director, Devakumar Edwin, explained that the Dangote Group, had through its lawyers vigorously defended the suit filed by the BUA Group seeking a perpetual Injunctive Order against further interferences with their purported fundamental rights to property and privacy. He said the Group has appealed the Hig...
Court Restrains Dangote, Police From Interfering With BUA Mining Sites
Business

Court Restrains Dangote, Police From Interfering With BUA Mining Sites

A Federal High Court in Benin City has restrained Dangote Industries and the Nigerian Police Force from interfering with BUA Group’s operations of the disputed Okpella mining sites in Okpella, Edo State in a judgement it delivered recently. A statement by the management of the company on Sunday recalled that BUA was legally operating on its mining sites before operations at three of those mines were abruptly disrupted by the Inspector General of Police and the Edo state Commissioner of Police on the order of Dangote Industries & Dangote Cement Plc in 2017. According to the statement, the court ordered the Inspector General of Police as 1st Respondent, Commissioner of Police, Edo State as 2nd Respondent, Dangote Industries, 3rd Respondent and Dangote Cement Plc as 4th Respondent t...
Buhari Praises Dangote, Elumelu, Atiku, Banks and Other For Donations
Politics

Buhari Praises Dangote, Elumelu, Atiku, Banks and Other For Donations

BATTLE AGAINST COVID-19: PRESIDENT BUHARI THUMBS UP ELUMELU, RABIU, DANGOTE, ATIKU, BANKS, OTHERS President Muhammadu Buhari has saluted the public-spiritedness of wealthy Nigerians and organizations for standing up to be counted in the battle against the Covid-19 pandemic. The President commends members of the Nigerian Private Sector Coalition Against Covid-19, made of people like Aliko Dangote, Abdulsamad Rabiu of BUA Group, Femi Otedola, Tony Elumelu, Herbert Wigwe, Segun Agbaje and Jim Ovia of UBA, Access, GT, and Zenith Banks, respectively, for contributing N1 billion each, and being in the vanguard of encouraging others in the private sector to do same. UBA has equally donated the sum of N5 billion to Nigeria and Africa, former Vice President Atiku Abubakar has pledged N50 m...
Meet The World Billionaires Of 2019 – Forbes
News

Meet The World Billionaires Of 2019 – Forbes

Capitalism is taking some lumps—and not just in the headlines. For only the second year in a decade, both the number of billionaires and their total wealth shrank, proving that even the wealthiest are not immune to economic forces and weak stock markets. By our latest count there are 2,153 billionaires, 55 fewer than a year ago. Of those, a record 994, or 46%, are poorer (relatively speaking) than they were last year. In total, the ultra-rich are worth $8.7 trillion, down $400 billion from 2018. Altogether 11% of last year’s list members, or 247 people, dropped out of the ranks, the most since 2009 at the height of the global financial crisis. Asia-Pacific was hardest hit, with 60 fewer 10-figure fortunes. That dip was led by China, which has 49 fewer billionaires than a year ago. E...
BUA Group Tackles Edo Govt. For Sealing Mining Site, Arresting Staff
News

BUA Group Tackles Edo Govt. For Sealing Mining Site, Arresting Staff

Cement firm, BUA Group, has accused Edo State Governor, Godwin Obaseki, of shutting it out of operation in one of its mining sites in the state. A statement by the corporate department of the firm, Wednesday, also alleged the arrest of two of the company’s staff during Mr. Obaseki’s visit to the site, located in Obu-Okpella. BUA said the governor conducted “a gestapo-style forceful shutdown of that mine despite a subsisting court pronouncement that the Mine be allowed to operate”. “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,” the statement said. ...
Dangote Accuses BUA Of Stealing, Illegal Mining Of Limestone On Its Properties
News

Dangote Accuses BUA Of Stealing, Illegal Mining Of Limestone On Its Properties

Management of Dangote Group, over the weekend accused BUA of engaging in illegal mining of limestone deposited in its Mining Lease, No. 2541, located in a boundary town of Oguda/Ubo in Okene Kogi State. Dangote’s Executive Director, Mr. Devakumar Edwin frowned at the media war, instigated by BUA against the Dangote Group, over a matter which is already pending before the Federal High Court, Benin Division. Edwin revealed that: “Dangote Group validly acquired its interest and mining title in the disputed Mining Lease No. 2541 from AICO Ado Ibrahim & Company Ltd sometime in 2014. AICO itself had applied to the Mining Cadastre Office and Ministry of Mines and Steel Development for the said Mining Lease No. 2541 located in a boundary town of Oguda/Ubo in Okene Kogi State in 2007. The...
MTN, Airtel Among 16 Firms Bidding To Acquire 9mobile
News

MTN, Airtel Among 16 Firms Bidding To Acquire 9mobile

Sixteen firms have launched a bid to acquire 9mobile, Nigeria’s fourth largest network operator, according to ThisDay. In July, Etisalat Group disclosed on the Abu Dhabi Stock Exchange that it had pulled out of 9mobile, formerly known as Etisalat Nigeria. The telco had defaulted on a loan repayment scheme of $1.2 billion due a consortium of 13 local banks, citing economic downturn and the resulting naira devaluation as the reason for their inability to repay. Companies that have tendered expressions of interest (EoIs) to Barclays include five telcos – MTN, Airtel, Ntel, Virgin Mobile from the United Kingdom and Vodacom of South Africa. Others are BUA Group, Morning Side Capital Partners, Obot Etiebet & Co, Blackstone Private Equity, and Hamilton and George International Lim...
Fed Govt Lauds BUA Group’s Contribution To Sugar Devt
News

Fed Govt Lauds BUA Group’s Contribution To Sugar Devt

Minister of State for Industry, Trade and Investment, Hajia Aisha Abubakar, alongside the National Sugar Development Council commended the management of BUA Group for the extensive work achieved on its Lafiagi sugar plantation, LASUCO – a backward integration site for BUA Group’s sugar subsidiary, BUA Sugar. This was revealed when the minister alongside the National Sugar Development Council, paid a monitoring visit to Lafiagi Sugar Company (LASUCO) – a subsidiary of BUA Group on Tuesday. The visit which was organised to ascertain the level of progress at the LASUCO Sugar plantation also included a tour of the sugar plantation and facilities. The minister, who lauded the investments and extensive progress made on the plantation, commended the management of BUA for its progress toward...
Forbes- Top 10 Richest Men In Nigeria 2017
News

Forbes- Top 10 Richest Men In Nigeria 2017

Every year, a renowned website named forbes gather relevant informations and come up with the richest men in the world, in Africa and in Nigeria. As 2017, 9 Nigerians make the billionaires club cut with a some, just few million dollars away from reaching the bench mark. Below are the top 10 richest men in Nigeria according to forbes ranking 2017. 10. Oba Otudeke: Oba Otudeke is the chairman and founder of the honey well group. He is also the chairman of FBN Holdings Plc. His operations spread across oil and gas, flour minning, real estate, and marine transportation.Net Worth: $650 million. 9. Jim Oviah: Jim Oviah is the founder of Zenith Bank. He is the chairman and the largest shareholder with a stake of almost 10%. He also manages a mobile telecom Visafone which has over 3 million subs...
Dangote, Adenuga’s Net Worth Drops By $7.4bn
News

Dangote, Adenuga’s Net Worth Drops By $7.4bn

The President of the Dangote Group, Alhaji Aliko Dangote; and Chairman of Globacom, Dr. Mike Adenuga, saw their net worth declined by $3.2bn and $4.2bn, respectively in the past year, according to Forbes 2017 World’s Billionaires list. Dangote retained his position as Africa’s richest person in the latest ranking, with a fortune of $12.2bn, although he was ranked 105th as against 51st last year. The Chairman of Forte Oil, Mr. Femi Otedola; and the Chairman/Chief Executive Officer, BUA Group, Abdulsamad Rabiu, were missing on the list. They were worth $1.8bn and $1.1bn, respectively last year. In 2015, Otedola re-joined the list of African billionaires after a five-year hiatus, with a $1bn fortune. The net worth of the Founder and Executive Chairman, Famfa Oil Limited, Mrs. Folo...