Africa's Richest Man, Aliko Dangote Goes To War With Buhari - ROUND GIST

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Tuesday, 4 December 2018

Africa's Richest Man, Aliko Dangote Goes To War With Buhari

News around Abuja have it that billionaire businessman, Aliko Dangote is undergoing a major challenge with the buhari-led administration over massive debt it owes the Federal Government.

The development has placed the richest man in Africa on the verge of losing almost N1.3 trillion.

Details available revealed the hefty fund is estimated taxes the wealthy Nigerian is believed to owe the government.

It was gathered that Dangote through his Dangote Group enjoyed pioneered tax relief advantages and economic concessions in some of his business undertakings.

The Buhari administration claims the “reliefs and economic concessions” granted by past administration were beyond normal and is pushing for payment in areas it deemed the arrangement “hurt and is hurting the state”.

Insiders disclose that the Buhari administration has not singled out Dangote for this treatment, as other wealthy Nigerians are also under the radar.

Further details reveal that the billionaire and his team are currently negotiating with the government to “come to a mutually beneficial arrangement” in the situation at hand.

“The matter is being handled discreetly by the Dangote team for obvious reasons”.

Multiple sources agree the implication of pulling out N1.3trillion payment out of the billionaire’s Dangote Group will certainly leave more than a telling impression.
President Buhari is said to view the case with Dangote as one of the major steps to revamp the nation’s ailing economy.

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