Armed policemen in Lagos Tuesday invaded the office of Kings Communications Limited, publishers of MMS Plus newspaper, over a story exposing corruption and debts in the Dangote refinery.

The media outlet reported that the policemen arrested its Editor-in-Chief, Kingsley Anaroke, and the Editor of MMS Plus, Kenneth Jukpor, over a story published on the possible takeover of the Dangote refinery by AMCON owing to increasing debts.

“After several failed attempts to get the Editor to pull down the story, the Dangote spokesman instead of a rejoinder or the legal action which he threatened against our media house, he has resorted to bullying by sending four policemen to besiege the headquarters of Kings Communications Limited in Festac, Lagos since 7am,” The report states.

The original report ‘AMCON May Take Over Dangote Refinery As Liabilities Swell’, reported on Sunday, said Dangote Group’s debt profile was set to hit $8.4billion by 2025.

The report states that the company debt is currently at about $7 billion, with $700 million per annum set for debt servicing.

The refinery is projected to begin operations in 2025, though its completion date has been moved eight times.

The federal government has stepped in to ease founder Aliko Dangote’s financial woes.

Last week, the Federal Executive Council approved the acquisition of 20 per cent minority stakes ($2.76 billion) by the Nigerian National Petroleum Corporation (NNPC) in the Dangote Refinery project.

Source:- Gazette Ngr

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