Nigercem Nkalagu Ownership in Dispute

Nigercem Nkalagu Ownership in Dispute

Inaugurated in the 1950s as a state-owned cement company, Nigercem Nkalagu was privatised in 2002. While the Ebonyi State government acted as a strategic equity holder, the core investor in the firm at that time was the Eastern Bulkcem (a subsidiary of the Ibeto Group). The objective of this privatisation was to start the manufacturing process and to modernise the plant. The re-activation was to provide for the jobs to the local youth. Now the state government feels that the Ibeto Group has no interest in carrying out the work to upgrade the plant. The government has asked the group to step aside to let the state find alternative investors

A House of Representatives member however, disagrees with this approach, stating that the company is ready to begin operations immediately and can offer jobs to young people in the area.

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