Aliko Dangote speaks on alleged N27.2bn debt

Aliko Dangote speaks on alleged N27.2bn debt

Following the termination of the concession contracts for management of Fibre Optic Network of the Transmission Company of Nigeria, TCN, which involved the company, owned by Aliko Dangote and Phase3 Telecom Limited, the management of Alheri Engineering Company Limited has denied owing the Federal Government $75,500,000 (about N27.18 billion). In a statement issued yesterday, the company described the accusation as wrong and fallacious and assured its customers that the story was not only untrue but also a distortion of facts and events twisted to achieve a predetermined goal.

 

 

 
The statement read: “The Concession Agreement required the concessionaires to take over the operations of TCN’s fibre optic network, Design, Build, Finance and Operate, DBFO, the infrastructure with unhindered access to existing and future fibre optic infrastructure on the network. “For the purpose of execution of the project, the entire country was divided into two. The Eastern half of the country awarded to Alheri and the Western half to Phase3. It is worthy to note that the concession area granted to Alheri covers less economically viable cities.”

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