How police raided Lagos-based newspaper’s office over Dangote Refinery debt story

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The premises of a Lagos-based media outfit, Kings Communications Limited, publishers of MMS Plus newspaper, was on Tuesday raided by police over a controversial story on alleged corruption and debt at the Dangote Refinery.

According to the organisation, the raid led to the arrest of its Editor-in-Chief, Kingsley Anaroke, and the Editor of MMS Plus, Kenneth Jukpor.

It said that their arrest was linked to a story which the newspaper published about the Asset Management Company of Nigeria (AMCON) possibly taking over the yet-to-be-launched refinery project over skyrocketing debt.

In the Sunday story with the headline, ‘AMCON May Take Over Dangote Refinery As Liabilities Swell’, the newspaper reported that the Dangote Group’s debt profile currently stood at $7 billion, with $700 million per annum earmarked for debt servicing.

It further reported that the debt could hit $8.4billion by 2025.

“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 newspaper stated in a Tuesday report.

Read Also: Dangote Refinery: Bailing Out The Unbailable – By David Bako

After completion date was moved eight times, the Dangote Refinery is projected to commence operation in 2025.

The Federal Government is set to acquire 20 per cent minority stake valued at $2.76 billion in the refinery through the Nigerian National Petroleum Corporation (NNPC).

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