Aliko Dangote

Venue was the Aso Rock Villa and the event was the Presidential Retreat on Economic Development which held between13th -14th October, 2011.

The retreat had top government functionaries and captains of industries in attendance. The retreat was mainly with the private sector in order to carry them along in the government’s efforts to foster economic development.

While speaking at the Presidential retreat that was concluded on Friday, Nigeria’s foremost industrialist, Alhaji Aliko Dangote disclosed that he would not invest in Nigeria’s power sector. He said “once you’re successful everybody wants to bring you down. Dangote has not gotten a waiver in the last 20 years. We will rather encourage others to invest because the moment Dangote jumps in to invest in power people will shout monopoly”.
Contrary to the billionaire businessman’s claim that he has not gotten a waiver in the last 20 years, documents in Street Journal’s possession show that his Dansa Oil and Gas actually benefited from a waiver around March 2011, thanks to the Central Bank Governor, Malam Lamido Sanusi and Intercontinental Bank Plc’s MD, Lai Mohammed.

According to the loan schedule, Dansa Oil and Gas with the Facility Account Number 012tims09202001 had an outstanding balance of N 14, 529, 671, 115. 15 (Fourteen Billion Five Hundred and Twenty Nine Million, Six Hundred and Seventy One Thousand One Hundred and Fifteen Naira, Fifteen Kobo.). The Purchase Price was however put at N 943, 025, 587.62 ( Nine Hundred and Forty Three Million, Twenty Five Thousand Five Hundred and Eighty Seven Naira sixty Two Kobo) leaving a waiver of N 13, 586, 645, 527. 53 (Thirteen Billion Five Hundred and Eighty Six Million, Six Hundred and Forty Five Thousand Five Hundred and Twenty Seven Naira and Fifty Three Kobo).

It will be recalled that Dansa Oil and Gas owned by the billionaire businessman was also on the list of Intercontinental Bank Plc’s debtors. - StreetJournal

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