The management of Dangote Cement’s Ibese Plant has reaffirmed commitment to advancing local content policy, aiming to stimulate the economies of its 17 host communities through skills development and increased business opportunities for local enterprises.

During a one-day capacity development workshop for local vendors, themed “Leveraging DCPI’s Processes and Procedures to Build Viable Local Businesses,” Acting Ibese Plant Director, Johnson Michael expressed this commitment.

Since the plant’s establishment over a decade ago, Michael noted that the company has significantly impacted not only the host communities but also the wider Ogun State.

He emphasised that Dangote Cement would continue to prioritise local autonomous businesses to enhance economic resilience within the state.

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The workshop, held at the plant premises in Ibese, attracted numerous local service providers and suppliers from neighbouring communities. Michael explained that the event aimed to broaden vendors’ perspectives and deepen their understanding, thereby unlocking greater business opportunities, improving operational efficiency, and strengthening safety and security practices.

He noted that this initiative, the first of its kind at the Ibese Plant, is part of Dangote Cement Plc’s local content development strategy and reflects a strategic partnership with host communities to promote sustainable development and prosperity. The workshop was designed to equip participating vendors with the tools and insights necessary to thrive within and beyond the company’s ecosystem.

On behalf of the vendors, Deacon Segun Omoniyi from Abadom Commercial Enterprises expressed gratitude for Dangote Cement’s investment in upskilling and fostering the growth of local businesses.

He assured that the knowledge gained would enhance service delivery and operational excellence at the plant.

The initiative saw effective collaboration among various departments, including Human Asset Management & Administration, Occupational Health, Safety and Environment, Procurement, Security Services, Stores, Finance & Accounts, and Social Performance.

Recently, the Ibese Plant also donated agricultural supplies to local farmers as part of a broader empowerment programme aimed at ensuring food security for the community. During the presentation, over 60 farmers from the 17 host communities received fertilizers, herbicides, and knapsack sprayers to assist them in the upcoming farming season. They also received training on “Integrated Pest Management and Crop Protection,” covering the application of the donated inputs as well as general pest management techniques.

The plant management noted that these donations are part of Dangote Cement’s Social Investment drive, which focuses on four key areas: Education, Health, Empowerment, and Infrastructure. They emphasised that the company’s community investments and their positive impacts on residents demonstrate Dangote Cement’s dedication to adding social value to its host communities.

According to the company, the initiative aims to enhance the productivity of participating farmers, strengthen food security, and boost revenue across the agricultural value chain in the host communities.

Dangote expressed optimism that that this intervention will positively impact the production of garri, fufu, and kokoro, which are staple foods in the area.

Osun State Governor, Senator Ademola Adeleke has commended progress in the state’s dispute with Thor’s Explorations Limited, as mediation has confirmed that most government’s demands.

Gov Adeleke made the remarks after receiving preliminary report from the state team led by the Special Adviser to the Governor on Mining and Mineral Matters, Prof. Lukuman Adekilekun Jimoda.

According to Gov Adeleke, it is great news that Thors Limited has eventually produced a written certificate of Osun State shares in the Segilola Gold Project. The intermediation has also made Segilola, the operator of Thor Explorations to accept the responsibility of opening all its accounting records for examination on the 3.25-billion-naira tax assessment by Osun state, in line with Personal Income Tax Act section 58(2).

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In his words, “We finally have an open and direct confirmation of Osun shareholding at five percent of what Tropical Mines Limited got. I look forward to hosting the federal mediation team for the formal presentation of the share certificate to the state government, although, our demand is five (5) percent of the value of the gold asset, when it was acquired by Thor Explorations from its interest holders. We also have additional economic interest, coming from Thor’s partnership offering, when it took 88 cadastral units, out of Osun’s exploration license.

“Our decision not to do under the table deal with Thors Explorations has paid off. From the beginning, I said I don’t want gold bars for myself or my family. I want Osun shares as asset of the state and that the taxes be paid into her treasury.

“We know other interest holders got cash and smelter fees during the acquisition by Thor, we are also insistent on immediate payment to the state treasury of the full amount due to the state from her interest in the gold project. The financial implications of our holding must be redeemed without further delay.”

On the update on payment of tax indebtedness to the state by Thors Exploration Limited which required further documentation, the Governor directed his team to submit all required data and records, insisting that “Osun has legitimate PAYE tax demands which Thors firm must fulfil.

“I commend the federal mediation team for acting to enforce compliance with local tax and environmental laws. We are opposed to companies operating with impunity by neglecting observance of state laws. We are only asking Thors to comply with state laws as much as the federal laws. There are other asset classes in Nigeria that are registered with corporate affairs Commission. MTN and Airtel are telecom asset classes and they are registered in Nigeria, let Segilola Gold Project be registered in Nigeria.

“We will submit our environmental inspection report. We will show the world that even a billion dollar cannot achieve the remediation and rehabilitation of our damaged environment. It is actually worrisome that an internationally quoted mining company will neglect and attempt to evade the care for the environment it violated”, the Governor lamented.

Earlier, Prof. Jimoda had submitted a report of the mediation meeting between Thor’s management and the state government under the supervision of the intervention team set up by the Federal Minister of Mines Development, Mr Dele Alake.

He told the Governor that the meeting achieved significant milestones for Osun state especially on the issue of shareholding , payment of monetary implications, continuous discussion on the exact tax indebtedness as well as consensus on the need for environmental remediation.

The adviser, however, said the meeting did not address the many court cases over the disputes. A follow up meeting by disputing parties is to be held in Osun state in due course.

The International Finance Corporation (IFC) has entered into a strategic partnership with the Central Bank of Nigeria (CBN) aimed at enhancing local currency financing to empower private businesses throughout the country.

This agreement, announced on Monday, is set to enable the IFC to better manage currency risks while significantly increasing its investments in Nigerian naira, particularly within priority sectors such as agriculture, housing, infrastructure, energy, small and medium enterprises (SMEs), and the creative economy.

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CBN Governor Yemi Cardoso highlighted the initiative’s ambitious goal, stating that the IFC intends to scale its financing efforts to more than $1 billion in the coming years, addressing the urgent need for local currency support in key economic sectors.

“This pioneering initiative between the IFC and CBN will unlock much-needed long-term local currency financing for private businesses in Nigeria at economically viable rates,” Cardoso said, noting the initiative’s potential to transform the nation’s economic landscape.

The collaboration represents a significant advancement in the CBN’s commitment to fostering innovative development initiatives through reputable third-party service providers, moving beyond traditional intervention strategies.

According to Cardoso, this partnership will act as a vital catalyst for economic growth and will support the Federal Government’s agenda for economic diversification.

IFC Managing Director Makhtar Diop echoed the importance of the agreement, stating that increasing access to affordable local currency financing is essential for small businesses in Nigeria.

“Our partnership with the Central Bank of Nigeria will enhance lending in Nigerian naira, fostering economic growth and creating jobs across the country,” Diop remarked.

He also emphasized the IFC’s commitment to utilizing innovative financial instruments and strengthening partnerships to meet the rising demand for local currency financing in emerging markets.