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Ownership: Kogi, Dangote Cement Management Trade Words

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The Kogi government and the management of Dangote Cement Plc. are at loggerheads over the ownership of the company.

The previous temporary closure of the company by some youths recently has caused a stand-off between the state government and the company, located in Obajana, near Lokoja.

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On Saturday, the state government alleged that the management of the company was plotting to disrupt public peace in the state.

The state government in a statement issued by the state Commissioner for Information, Kingsley Fanwo in Lokoja, said that the government was in possession of evidence to prove its allegations.

We have uncovered certain plans by the company at a meeting held last night to cause chaos across the state as a fight back strategy against the state government’s decision to get its own legally supported equity from the cement company” the commissioner said.

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The commissioner further alleged that the management of the company intended to engage other security means to harrass some government officials.

“They resolved to block all the major highways across the state with their trucks to make traffic unfriendly in the state.

“If the company attempts to carry out any of his threats or deny our claims which are supported by facts, we will release visuals and audio of their meeting on this,” Fanwo said.

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One of the company’s public relations officiald, Mr Abubakar Jibrin, would not comment on any issue related to the matter.

But the management of Dangote Cement Plc. said that the state government allegedly used some groups of persons to destroye the company’s assets and inflict injuries on some staff.

In a statement issued by the Corporate Communications Department of Dangote Cement Plc. in Lokoja, the management of the company alleged that some people invaded the cement plant on Wednesday.

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“No fewer than 27 staff of the company are currently in bad conditions after the invasion.

“Cement trucks were also burnt, and many others were vandalised, as they forcefully took the company’s buses and vans.

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“Since the attack, our vehicles carrying diesel have been attacked on Anyigba road,” the statement alleged.

The statement said that some victims of the invasion were currently admitted to the emergency section of the Kogi State Specialist Hospital in Lokoja.

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NNPCL Increases Fuel Price

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The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of premium motor spirit across its retail outlets.

It was gathered that NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre from N890.

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This is the case in NNPCL retail outlets along Kubwa Expressway, Wuse and other parts of Abuja.

READ ALSO:Fuel Station Manager, Three Others Arrested For Robbery

Similarly, the pump price hike has been implemented at filling stations in Kogi and Nasarawa.

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This means that the petrol pump price was increased by N65.

This comes after independent petroleum product marketers and filling station owners in Abuja increased petrol pump prices to between N950 and N971 per litre at the weekend. Their decision followed an upward review of the ex-depot petrol price by Dangote Refinery to N858 per litre, up from N820.

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Naira Appreciates Against Dollar As External Reserves Swell

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The naira appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a bullish note amid swelling external reserves.

According to the Central Bank of Nigeria’s exchange data, the naira appreciated to N1,531.95 against the dollar on Monday from N1,533.74 traded last week Friday.

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READ ALSO:Naira Continues To Appreciate Against Dollar On Official Market

This showed that the Naira strengthened by N1.79 when compared to the N1,533.74 exchanged at the close of work last week.

Meanwhile, at the black market, the naira remained stable at N1560 per litre, the same exchange rate traded on Friday.

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The development comes as Nigeria’s external reserves had maintained a modest rise to $39.54 billion as of August 1st, 2025, up from $39.36 billion on July 30th.

 

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Naira Continues To Appreciate Against Dollar On Official Market

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The naira continued its appreciation against the dollar at the foreign exchange market on Tuesday.

Accordingly, the naira strengthened further to N1,533.18 against the dollar on Tuesday, from N1,534.21 traded the previous day.

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This represents a gain of N1.03 against the dollar on a day-to-day basis and marks the second consecutive day of appreciation at the official FX market.

READ ALSO:Woman Arrested For Killing, Selling Pregnant Nurse’s Body Parts

Meanwhile, on the black market, the naira depreciated further to N1,545 per dollar on Tuesday from N1,537 traded on Monday.

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Recall that the naira had similarly closed Monday’s trading session with mixed sentiments, recording gains at the official market but depreciating at the parallel market.

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