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Dangote, BUA’s Fight Get Messier over Mining Right
There seems to be no end in sight in the crisis between the managements of Dangote Group and BUA Group over the mining rights in Edo State, according to New Telegraph.
The management of Dangote Industries Limited has, again, vehemently accused BUA Group of making untrue assertions against it. Dangote said that BUA was being dubious in claiming to be the rightful owner of Mining Lease No 2541.
The two companies, who had, on Wednesday, agreed to wait for a judicial outcome rather than resorting to self-help and/or using influence and agencies of government in disrupting operations at disputed mining areas in Edo State, yesterday, resumed the media war and continued to throw tirades at each other.
While Dangote, in a statement made available revealed that its reaction became very necessary as a result of its status as a publicly quoted company and to further re-assure its shareholders, the regulators and members of the public that the company was and remained a responsible corporate citizen, BUA said it was worried by Dangote Group’s penchant for seeking to further its the cycle of misinformation over the dispute through falsehoods and bigger lies.
Dangote is owned by Africa’s richest man, Alhaji Aliko Dangote while BUA is owned by billionaire, Alhaji Abdusamad Rabiu.
Alhaji Abdusamad Rabiu.
The Federal Government had, on Tuesday, ordered the shutdown of the mining site over the crisis. Faulting BUA’s claim that the Dangote Group was trying to monopolize the cement business in the country, Dangote said that BUA has willfully, deliberately and mischievously concealed the fact that it has at least 12 Mining/ Quarry Leases within and around the area in question as opposed to this sole Mining Lease No 2541 owned by the Dangote Group.
Dangote said: “First and foremost, there is no Status Quo Order made by any court that allows BUA to continue mining over the disputed mining lease area.
In fact, there is no status quo order at all. It is critical for us to point out that there is currently pending, a Motion for Interlocutory Injunction dated 27 April 2016, seeking to restrain the BUA Group from continuing with its illegal mining activities on the Mining Lease Area.
But in spite of having been served with this application and contrary to all tenets of the law which forbid a party served with an Interlocutory Injunction Motion from taking any step in respect of the subject matter of the suit, the BUA Group has, in utter disdain to the court, continued with its illegal mining activities.” Dangote said BUA applied for a Mining Lease over the same area in 2013, but the application was rejected by the Federal Ministry of Mines and Steel on the sole ground that it overlaps ML. 2541, which, at the time, belonged to AICO. “If BUA had title that dates back to 1998, is there any conceivable reason why it will apply for the same title over the same area in 2013?” the statement queried.
Dangote added: “It is misleading for BUA to falsely accuse Dangote of undermining its operations and attempting to create a monopoly in the cement industry in Nigeria, as we have always coexisted peacefully with other competitors in Obajana and Ibese.”
The claim by BUA that it has always been in possession of the disputed mining lease was also faulted by Dangote Group, as it affirmed that the Group “…has been the one in possession of the Mining Lease since 2016 and this was recently confirmed by the Kogi State High Court’s judgement delivered on 27 October 2017 in Charge No. HCL/65C/2017: State v. Joshua Oghene, Hon. Haruna Afegbua and Bulus Golit which sentenced the Chief Security Officer of BUA Group, Mr. Bulus Golit to one year imprisonment without any option of fine, for attacking Dangote Group’s officials and workers in the Mining Lease No. 2541.
“The imprisonment of BUA’s Chief Security Officer, amongst other things, has confirmed that the claim by the BUA Group that it has been in possession is totally fallacious.” But in a reaction, BUA noted that it viewed attempts by the Dangote Group to play to the gallery in the dispute over the Mining Areas covered by Mining Leases ML18912 and ML18913. In a statement released by its management, the company said that it has never laid claim to ML2541 “as our operations covered by ML18912 and ML18913 are in Obu, Okpella, Edo State and not Okene, Kogi State, where Dangote’s license 2541 is sited.”
“As Dangote has asserted, BUA’s licenses for ML18912 and 18913 were issued in 1997 and their ML2541 issued in 2016 (AICO, his predecessorin- title, claims to have received his in 2008). How can they then claim to be in possession when even their predecessor-in-title, AICO, was issued his license 10 years after BUA’s licences were issued and two years after the completion and commencement of production at our over $1 billion Obu Cement Factory? “In any event, AICO had instituted a suit at the Federal High Court, Lokoja claiming to assert his title to ML2541. Whilst that was pending, AICO, against all known principles of law, transferred his title to Dangote.
It is also worthy of note that Dangote further applied to the courts to assert his rights to ML2541. How can a party who claims to be in possession ask the courts to assert his rights to his licence? “It should also be noted that this is asides the notorious fact that our licence was initially issued in 1976 to Bendel Cement Company, one of our predecessors- in-title. “With reference to Dangote’s claims that we applied for a lease in 2013, to our knowledge, we are not aware of any application of this sort. In any event, it is common knowledge that participants in the mining industry continuously apply for mining rights on a regular basis and if/when we were made aware of such, we discontinued such a process.
“To further buttress our point, the Nigerian Boundary Commission’s report of 2006 clearly states that Obu, Okpella is in Edo State and not Kogi State. Even as recent as July 2017, the ministry confirmed, through a letter to BUA, our right to possession of licences ML18912 and ML18913 up till 2017.
“Isn’t it rather strange that Dangote who claims to have acquired Mining Lease 2541 from AICO in 2015, now seeks to interfere with BUA’s mining rights in ML 18912 and ML 18913 in Obu, Okpella in Edo State? It is also instructive to state that Dangote has, on several occasions, attempted to obtain injunctive reliefs from the Federal High Court, Benin, Edo State, in the course of the pending litigation, but the court declined making such injunctive Orders because whilst Dangote claims right to Mining Lease 2541 located in Okene, Kogi State, BUA claims right to Mining Leases 18912 and 18913 located in Obu, Okpella, Edo State. “Dangote has now resorted to using other means to achieve what it could not legally achieve in a court proceeding before a court of competent jurisdiction.”
Mobility technology company, Moove has raised $250 million in a Series C funding round at a valuation of $2.1 billion, reaching unicorn status.
The startup will deploy the fresh capital to build out autonomous vehicle infrastructure, expand fleet ownership, construct robotics-focused “Nests” for charging and maintenance, and grow its autonomous workforce from 150 to 500 by year-end.
The company plans to enter additional global markets, reflecting a strategy to build the operational infrastructure required for large-scale autonomous transportation rather than simply supplying vehicles.
Led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s Growth Fund, and Ion Pacific, the round also included new investors BlueCrest Capital Management, Sona Asset Management and The Raptor Group, alongside existing backers BlackRock, MUFG, Franklin Templeton and Uber.
“Autonomous mobility is becoming an infrastructure race requiring fleets, charging systems, maintenance, data infrastructure and continuous city-level operations,” said Ladi Delano, co-founder, co-CEO and advisory board chairman of Moove.
Founded in Lagos in 2020, Moove has grown into a global mobility platform employing about 3,300 people across 29 cities in 13 countries, operating approximately 42,000 vehicles and reaching $420 million in annualised recurring revenue.
It has expanded organically and through acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan. Moove also operates autonomous vehicle fleets in partnership with Waymo in Phoenix and Miami, with London expected to join its footprint.
The $2.1 billion valuation places Moove among Africa’s small group of tech unicorns, alongside Flutterwave, OPay, Moniepoint, Andela, Chipper Cash, Wave, Tyme, MNT-Halan and Interswitch.
The $250 million round is the largest single funding deal announced by an African startup this year, though EV mobility firm Spiro raised $270 million cumulatively across two separate rounds.
Heirs Life Assurance, the specialist life insurance company of Heirs Insurance Group, has appointed Pastor Jerry Eze as an Independent Non-Executive Director on its Board, effective August 10, 2026.
L – R: Tony Elumelu, Chairman, Heirs Life Assurance; Pastor Jerry Eze, incoming director, Heirs Life Assurance
The appointment reinforces Heirs Life Assurance’s commitment to expanding financial inclusion and accelerating insurance adoption by strengthening public trust, consumer education, and long-term financial resilience across Nigeria.
Despite being Africa’s largest economy, Nigeria’s insurance penetration remains below one percent – among the lowest globally – highlighting the need to expand financial protection and build greater public trust in insurance.
As Heirs Life continues to pursue its mission of making insurance accessible to every Nigerian, Eze’s appointment brings a unique perspective on community engagement, value-based leadership, and broad societal impact.
Pastor Jerry Eze is the Founder and Lead Pastor of Streams of Joy International Ministry, a growing multinational ministry with 34 branches across West Africa, Southern Africa, Europe and North America.
He is also the convener of the New Season Prophetic Prayers and Declaration (NSPPD), one of the world’s largest digital prayer platforms, reaching millions of people daily. Through his ministry and humanitarian initiatives, he has become one of Africa’s most influential voices, championing hope, compassion, and community transformation.
Beyond ministry, Eze is the Founder of the Jerry Eze Foundation, a faith-led philanthropy where he provides housing support and grants to vulnerable and underserved communities.
In 2026, he announced N1billion in grants to support young entrepreneurs across agriculture, technology, and manufacturing, further advancing enterprise development and economic opportunity.
Before entering full-time ministry, Pastor Jerry Eze built a career in development communications, serving as a Communications Specialist on a World Bank HIV/AIDS programme and with the United Nations Population Fund (UNFPA).
He holds a Bachelor’s degree in History and International Relations from Abia State University and a postgraduate degree in Business Administration from Enugu State University of Science and Technology.
Speaking about the appointment, Tony O. Elumelu, CFR, Chairman, Heirs Life Assurance, said: “Pastor Jerry brings an exceptional combination of integrity, influence, and a deep understanding of people and communities.
“As we continue our mission to democratise access to insurance, his insight will help strengthen consumer trust, deepen financial inclusion, and reinforce our commitment to protecting the financial future of millions of Nigerians.
“We are delighted to welcome him to the Board of Heirs Life Assurance and the broader family of Heirs Insurance Group.”
Commenting on his appointment, Pastor Jerry Eze said: “I am honoured to join the Board of Heirs Life Assurance at a defining moment for the insurance industry. Financial security empowers individuals, families, and businesses to pursue their aspirations with greater confidence and resilience.
“I look forward to working with the Board and Management to advance the company’s mission of making insurance more accessible, relevant, and impactful for every Nigerian.”
Heirs Life Assurance has become one of Nigeria’s leading specialist life insurance companies, ranking 7th on the Financial Times list of Africa’s fastest-growing companies.
It is one of the three insurance businesses of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.
Combining an omni-channel digital presence with physical branches spread across the country, Heirs Life continues to redefine life insurance through innovation, customer-centric solutions, and a commitment to making financial protection accessible to every Nigerian.
Heirs Insurance Group, comprising Heirs Life Assurance, Heirs General Insurance, and Heirs Insurance Brokers, collectively serves over 3 million people directly and indirectly.
The Group is championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.
The World Bank Group has announced the 31-month debarments of United Aviation Services Limited (UNASEL), a transportation services company based in Nigeria, and Air Vice Marshal Alkali Mamu, its owner and president, “in connection with fraudulent practices under the Enhancing Niger Northeastern Connectivity Project,” according to a press release issued by the multilateral development bank.
The statement said that the project aims to enhance connectivity and road safety along the Zinder-Agadez Road section and improve access to basic socioeconomic infrastructure for selected communities in that road section.
However, according to the statement: “UNASEL and Mr. Mamu presented false experience documents in a prequalification application to qualify for a contract under the project. This was a fraudulent practice under the World Bank’s sanctions framework.”
“The debarments make UNASEL and Mr. Mamu ineligible to participate in projects and operations financed by Bank Group institutions. The debarments are part of two settlement agreements under which UNASEL and Mr. Mamu admit culpability for the underlying sanctionable practices,” it added.
The statement further said: “Per the Bank Group Sanctioning Guidelines, the settlement agreements provide for a reduced period of debarment in light of UNASEL and Mr. Mamu’s cooperation.
As a condition for release from sanction under the terms of the settlement agreements, UNASEL and Mr. Mamu commit to developing and implementing integrity compliance measures that reflect the relevant principles set out in the Bank Group Integrity Compliance Guidelines, and Mr. Mamu further agrees to complete corporate ethics training.
UNASEL and Mr. Mamu also commit to continue to fully cooperate with the Bank Group’s Integrity Vice Presidency.
“The debarments of UNA SEL and Mr. Mamu qualify for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions that was signed on April 9, 2010.”
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