US$41million Dangote’s Deal Faces Scrutiny

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House members are reviewing Dangonte’s agreement

President Ellen Johnson Sirleaf’s bill seeking investment incentive for billionaire Nigerian businessman Aliko Dangote has been tabled in the House of Representatives for review.

The Nigerian has reached an agreement with the Executive to operate a US$41million cement factory in the country.

President Sirleaf wants the legislature ratify the deal, which has 15 years duration as of its effective date, between Liberia and Nigerian billionaire

The investment incentive’s deal is for the financing, construction, development and operation of a clinker grinding unit with cement packing and dispatched plant of 1,000 tons per day and could expand its productive capacity to 2,000 tons per day within the Freeport of Monrovia, the agreement states.

“When ratified, this project will create jobs during its construction operations and expansion phases. The investor shall also provide scholarship for study in Liberia, through an investor grant of US$15,000 annually,” President Sirleaf said.

“The scholarship beneficiaries will be students who are Liberian citizens and residents of the district in which the terminal is located. The investor is also expected to assist government in the maintenance of the roads leading to its port terminal.”

-Writes Titus E. Dessie