Business
ONDOCCIMA Pleads to Akeredolu to reverse takeover of Forest Reserve by Private Company
The Ondo State Chambers of Commerce, Industry, Mines and Agriculture (ONDOCCIMA) has called on the state government to immediately look into the forceful takeover of a government forest reserve by a private company and reverse whatever agreement it has with the said private company.
The chamber, rising from a meeting, held in Akure, the state capital, lamented the condition of the more than 10,000 farmers displaced by the forceful takeover of the forest.
According to a statement signed by the public relations officer of the chamber, Adeboro Onibalusi, the takeover of the forest has plunged the farmers, families and several thousands of other dependants into further misery following the worsening inflation rate in the state.
“The forceful and crude evictions of the farmers by fully armed soldiers who were supported by men of the Amotekun corps and the wanton destruction of cash crops worth millions of naira is condemnable,” the statement reads.
The statement read further, ” There is an urgent need for the government to take a look at the economic state of our dear state. The latest National Bureau of Statistics data on inflation across the country, which was released last Saturday. listed Ondo State among the three states with highest inflation rate in the country.
“This is very sad and challenging to our people. The poor farmers and civil servants have been further pushed into a life of misery by the inflation.”
“Findings have shown that the main reason for this killer inflation in Ondo State is as a result of capital flight encouraged by government policies and actions. For example, if you look closely you’ll find out that most, if not all the government jobs, particularly constructions going on across the state are executed by people from outside the state.
“These are majorly people who are not resident in the state. What happens is that whatever money that they make from Ondo State are taken back to where they come from. They only ccme into the State to make money and such money is not spent here, Rather they go back to spend the money where they live. This is one of the major reasons for the parlous state of the economy in Ondo State and we want to plead with the governor to kindly take immediate action to revert the troubling situation.”
On the much-anticipated removal of the susbsidy on petroleum, ONDOCIMMA said its members are in total support of the plan, describing it as long over due. It, however, urged government to be transparent and to make good use of the money that would be realised from the removal.
“Our position on the anticipated subsidy removal is that it is a welcome development and long overdue. But government should be transparent and make judicious use of the money realized after the subsidy must have been removed. Also, palliatives and incentives should be made available to citizens and business.organisations.”.
The Dangote Group is pursuing a $45bn investment programme across its businesses as it targets annual revenue of $100bn by 2030, with Dangote Cement expected to play a major role in funding the conglomerate’s next phase of expansion.
The group’s expansion strategy covers cement, refining, fertiliser, gas, infrastructure and other industrial businesses as it seeks to increase production capacity and strengthen its presence across African markets.
Dangote Cement, described as the group’s largest cash-generating business, is targeting an increase in annual production capacity from its current 55 million tonnes to more than 80 million tonnes as part of the growth programme.
The cement company said its expansion strategy would rely substantially on internally generated cash, reflecting the strength of its existing operations and cash-generating capacity.
In the 12 months to June 2026, Dangote Cement recorded revenue of $3.1bn, representing a 22 per cent year-on-year increase. Its cash conversion stood at 89 per cent, while return on capital employed reached 68 per cent during the period.
The company’s financial performance has also remained strong in naira terms. For the first half of 2026, Dangote Cement reported profit before tax of N981.39bn, up 34.43 per cent from N730.03bn recorded in the corresponding period of 2025. Profit after tax rose 22.69 per cent to N638.53bn.
The group’s wider investment plan is expected to include further expansion of the Dangote Refinery, with its capacity targeted to rise towards 1.4 million barrels per day. The company is also pursuing gas and LNG projects and additional industrial investments across Africa.
Dangote Cement’s expansion includes projects such as the proposed six-million-tonne-per-year plant at Itori in Ogun State, which is expected to strengthen the company’s production base as demand for cement and construction materials grows across the continent.
The group is also increasingly positioning its businesses around export earnings and geographically diversified operations. Management expects a larger share of revenue to be generated in foreign currency as its African expansion gathers pace.
The scale of the investment programme is underpinned by the group’s broader Vision 2030 strategy, which includes a target of more than $30bn in adjusted earnings before interest, taxes, depreciation and amortisation by 2030 alongside the $100bn revenue objective.
For Dangote Cement, the strategy represents a combination of capacity expansion and financial discipline, with strong operating cash flows expected to support investment while maintaining the company’s balance-sheet strength.
The wider Dangote Group is therefore positioning its 2030 strategy around expanding industrial capacity, increasing exports and using the cash generated by established businesses to finance further growth across Africa.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has dismissed allegations that it appropriated the Niger Delta Economic & Investment Summit (NDEIS) brand, insisting it lawfully obtained trademark acceptance for the name and will proceed with its 2026 summit as scheduled.
In a statement issued on September 12, 2026, the chamber described claims by Kunle Nwiwa Junior as “cheap blackmail, misleading, mischievous and a misrepresentation of the facts,” maintaining that it independently developed the summit and followed all required regulatory procedures.
According to NDCCITMA, it applied for and received a Trademark Acceptance Letter for the name Niger Delta Economic & Investment Summit (NDEIS) in August 2025 under File No. NG/TM/O/2025/387284.
The chamber said the chronology of events contradicts allegations that it copied another party’s application, arguing that its trademark acceptance predated the period during which Nwiwa’s own application was reportedly still pending before the relevant authorities.
“Economic Summit” is a generic expression
NDCCITMA further argued that the phrase “Economic Summit” is a generic description widely used for conferences that bring together governments, investors, businesses, development institutions and other stakeholders to discuss investment and economic development.
The chamber maintained that while concepts may be widely used, legal protection only arises from recognised intellectual property rights, including duly registered trademarks and other enforceable proprietary interests.
It therefore rejected suggestions that any individual or organisation has exclusive ownership of the broader concept of an economic summit.
Court grants interim injunction
Addressing reports that the summit had been halted, NDCCITMA said the dispute is already before the Federal High Court in Port Harcourt and that there is no court order restraining the event.
The chamber disclosed that in Suit No. FHC/PHC/CS/57/2026, Justice Stephen Dalyop Pam granted an interim injunction restraining the defendants—Kunle Nwiwa Junior and Keneva Consult Ltd.—from interfering with the planned summit.
According to NDCCITMA, the court also directed the defendants to remove publications, notices, petitions, social media posts and other statements allegedly considered damaging to the chamber’s name, integrity and reputation pending the hearing of its motion for interlocutory injunction.
The matter has been adjourned until September 22, 2026 for further hearing.
Chamber rejects ₦500 million demand claim
NDCCITMA also alleged that it had received a demand from Nwiwa Junior requesting ₦500 million as a condition for abandoning his claims over the summit.
The chamber said the demand was rejected, adding that it subsequently petitioned the Inspector-General of Police over what it described as repeated harassment and threats directed at its officials.
It said the petition sought police intervention, including inviting the complainant for questioning and caution where necessary.
Summit opens September 15
Despite the legal dispute, NDCCITMA reaffirmed that the 2026 Niger Delta Economic & Investment Summit will hold from September 15 to 17, 2026, at the Obi Wali Conference Centre in Port Harcourt, Rivers State.
The summit will be held under the theme “Driving Investment, Innovation & Industrial Growth in the Niger Delta” and is expected to bring together policymakers, investors, business leaders, development partners and industry stakeholders to discuss economic transformation across the region.
The chamber said it remains committed to promoting commerce, industry, trade, mining, agriculture and sustainable economic development throughout the Niger Delta while allowing the courts to determine all outstanding legal issues.
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