Chairman of Dangote Sugar Refinery Plc, Aliko Dangote has said that the National Sugar Master Plan (NSMP) when executed as designed could fetch the nation foreign exchange in excess of $700million yearly from the Backward Integration component of the plan.
Dangote made this disclosure recently while receiving in his office some businessmen who were on a visit to Dangote Sugar in Lagos.
He however warned that the BIP scheme must be protected to insulate the Nigerian economy to be able to achieve the twin objectives of local manufacturing and job creation.
“If the national sugar master plan is followed strictly and the players all follow the rules, the country will be better for it as Nigeria will save between $600 million and $700 million annually as forex,” he said.
Dangote also told the visitors that the Dangote Group is scaling up its social intervention in communities hosting its companies across the country.
He said efforts were being made to impact positively on the host communities saying his companies had expended billions of naira in states where these investments are located.
Dangote explained that the Corporate Social Responsibility projects undertaken by his companies was in addition to efforts by his Foundation, Aliko Dangote Foundation, which is presently giving out micro-grants to vulnerable women in all the 774 local governments across the country.
It would be recalled that the Minister for Industry, Trade and Investment, Otunba Niyi Adebayo who was on a working tour of the Dangote’s expansive Savannah Sugar Company (SSCL) Ltd in Numan, Adamawa State and Tunga sugar project site in Nasarawa State, described the projects as “huge, impressive and amazing.”
The minister said about the Dangote’s sugar plantation in Nasarawa State: “It’s a very impressive sight. Amazingly, such a project exists in this place.”
He added: “What we’ve seen so far from all the plantations we’ve been to are very impressive. We are impressed with the level of work they are doing.”
Group Executive Director, Government and Strategic Relations Mansur Ahmed had described Nasarawa State as one of the easiest states in the country to do business.
General Manager for the BIP, Dangote Sugar, John Beverley had said when the factory was fully operational, it would have the capacity to crush 12,000 tons of cane per day, while 90MW power would be generated for both the company’s use and host communities.
Last month, the Nasarawa State House of Assembly lawmakers who visited the Sugar Project site said they were highly elated and would give any legislative support to make the project a success.
Group General Manager Alhaji Bello Dan-Musa had told the visiting lawmakers that when phase II of the project is completed, it would make it the largest integrated plant in Africa
Dangote advocates Unity, Cooperation among Africans to get global recognition
ACCRA – President of Dangote Group, Aliko Dangote, has charged African leaders and citizens to be united in the promotion of the continent’s intrinsic greatness through improved trade relations amongst African countries.
Speaking at the formal launch of the Pan-African Payment & Settlement System (PAPSS), which is a centralised payment and settlement infrastructure platform for intra-African trade and commerce payments, in Accra, Ghana, on Thursday, January 13, 2022, Dangote urged Africans to close ranks, in a bid to propel the continent towards charting her own course and being the master of her destiny, to maintain her rightful position on the globe.
Dangote, who was represented at the occasion by the Group Managing Director of Dangote Industries Limited (DIL), Olakunle Alake, lauded the African Union, under the auspices of the Afreximbank, for the launch of the PAPSS, which he noted was aimed at facilitating payments across the continent.
He asserted that improved trade relations would greatly enhance the speed of recovery across Africa, noting that it had the potential to boost the level of economic activities through intra-Africa trade. He also remarked that the advent of PAPSS would greatly address challenges such as: high-cost, lengthy correspondent banking relationships, delays, among many others, and therefore ease transactions among businesses across Africa.
He equally expressed optimism that PAPSS would enhance the volume of trade among countries, which were hitherto not recorded or were overlooked because of the informal approach towards these transactions. According to him, these were now captured to reflect the correct or at least close to the appropriate position of trading activities within the continent, while also boosting the level of economic activities across the continent.
Dangote noted the enormous potential and benefits of PAPSS, but nevertheless warned that such projects had their teething issues. He therefore urged regulators and participants across the continent to look beyond any such operational challenges and ensure a successful implementation of the PAPSS.
In thanking all the member countries and organisations who contributed to the success of PAPSS by playing key roles leading to the launch of the project, he invoked the words of Ghana’s first President and Prime Minister, and renowned promoter of Pan Africanism – Kwame Nkrumah, stressing that “The forces that unite us are intrinsic and greater…”
Dangote thus charged African leaders and citizens to continue to promote the continent’s intrinsic greatness through improved trade relations amongst African countries.
Dangote Refinery Will Boost Growth of Downstream Sector in 2022, CPPE, Others Affirm
The Centre for the Promotion of Private Enterprise (CPPE), an economic advocacy group, has identified Dangote Petroleum Refinery as one of the key expected drivers of growth that would impact positively on the downstream sector of the Nigerian economy in 2022.
Likewise, Financial Derivatives Company Limited, a financial institution, in its recent Economic Report for 2022, expressed a firm belief that Dangote Refinery would boost the growth of the downstream sector of the economy and enhance petroleum products distribution across Africa.
The Managing Director/CEO of Financial Derivatives Company, Bismarck Rewane, however, warned that the refinery, when operational, would not be a final solution to Nigeria’s economic crises. “The coming on stream of Dangote Refinery will no doubt enhance product distribution across Africa. Will Dangote refinery solve Nigeria’s problem? The answer is no. But the company is going to make Nigeria an exporter of refined petroleum products,” he added.
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In a Nigeria Economic Outlook for 2022 released by the CPPE, its Chief Executive Officer, Dr Muda Yusuf said activation of the Petroleum Industry Act (PIA) in 2022 is expected to impact positively on the economic outlook.
“We expect to see positive outcomes as investor sentiments in the oil and gas sector improve on account of the reforms anchored on the PIA. This will however depend on the political will deployed to drive the implementation of the provisions of the Act. It is also expected that the coming on stream of the Dangote refinery in 2022 will also impact positively on the downstream sector of the economy”, he added.
He said the average oil price in 2022 is expected to exceed the budgeted benchmark of sixty-two dollars ($62) per barrel, offering some fiscal headroom. This, he noted, would be powered by higher energy demand driven by the recovery of economic activities globally.
“This trajectory is expected to impact on our foreign reserve and strengthen the capacity of the Central Bank of Nigeria (CBN) to support the foreign exchange market”, Yusuf said. He, however, added that if the Dangote refinery comes on stream in 2022, the fiscal pressure on the economy may abate, but not completely eliminated.
According to the economist, because the service sector is less vulnerable to the structural constraints of the economy, especially the real sector of the economy, it will continue to outpace the real sector in 2022.
He said, “The service sector of the Nigerian economy will continue to outpace the real sector in 2022. In the third quarter of 2021, service sector contribution to GDP was 50 per cent and the growth of the sector was 8.41 per cent. The oil sector contribution to GDP was 7.5 per cent while the non-oil sector contribution was 92.5 per cent. While the industrial sector growth contracted by 1.63 per cent, agriculture grew by 1.2 per cent.”
Yusuf said the Gross Domestic Product (GDP) growth would remain fragile at about three per cent, pointing out that the key expected drivers of growth would be sustained recovery of global oil price.
He said, “We expect that the average oil price in 2022 will exceed the budgeted benchmark of $62 per barrel, offering some fiscal headroom. This would be powered by higher energy demand driven by the recovery of economic activities globally.”
The economist noted that despite the downside risks, the economy would continue to present huge opportunities for investors across all sectors. “This is on account of the resourcefulness of the Nigerian people, especially the entrepreneurs. Other inherent strengths of the Nigerian economy include the market size, the population, and the demographic characteristics”, he added.
Dangote Cement Partners FRSC for accident-free road transportation
Dangote Cement Plc, Ibese has embarked on road safety awareness campaign as well as provision of road safety kits to motorists and commercial motorcyclists to help ensure accident-free road transportation.
Also, the Company, as part of its efforts at ensuring accident-free trucking disclosed that it has partnered with the Federal Road Safety Corps (FRSC) to help in the recruitment, training and monitoring of its drivers.
Speaking during the awareness campaign, the Dangote Cement, Ibese Pant Director, Mr. Azad Nawabuddin explained that beyond the reduction of road crashes, the company was targeting zero accident, especially during festive periods when the roads are usually congested.
Explaining the theme for the Campaign, “Use Road Like Person Wey Sabi”, the Dangote plant Director noted that the message of being considerate while using the road is directed at its truck drivers, the commercial motorcyclists and drivers of light vehicles operating in and around the Plant, as well as other members of its communities.
He said, “I therefore enjoin all these actors on our roads who are well represented here today to learn and imbibe necessary tips to improve their use of the road in a professional manner and help cascade the safety messages to their colleagues hereafter.
“We, as Government, Corporate Organizations, Communities and Individuals must all join hands and play our part in ensuring safety on our roads because safety is a collective responsibility.
“Earlier today, we had taken the road safety campaign to our neighbouring communities via roadshows coordinated by FRSC and our employee Volunteers in recognition of the communities as our key stakeholders and partners.
“I am glad that the messages were well received, and it is our hope this will drive some attitudinal change in the way we use the road.”
In the same vein, the assistant director of transport in charge of safety and operation in Dangote Cement, Mr. Sanusi Iskilu revealed that the company is fixing board cameras on its trucks so as to help in achieving the zero-accident target.
Iskilu explained that Dangote cement also employed the service of external stakeholders who give feedback on the performances of its drivers, noting
“We have a lot of initiatives that we have taken on board. In the recent year, you will discover that our accidents have reduced drastically, and we have improved.
“Strategically, we have been able to fix onboard cameras on some of our trucks, so, we are able to see drivers in transit in their cabin and they are cautioned as well.
We have external stakeholders that give feedback of our drivers performance in transit for us to immediately act and ensure that they are monitored, and they are strictly brought under control.”
He added that the awareness campaign started with a reduction in road crashes and has now “moved from our campaign of no harm to people to no accident at all. So, if there is no accident, we can’t hurt anybody let alone killing and we want to consider everybody on the road. And this has even given us credibility from the public apart from the regulatory agencies.”
While giving his lecture, FRSC Commander, Caleb Yerima maintained that every road users need to adhere strictly to the rules and regulations guiding it while commending Dangote cement for embarking on the awareness campaign and the training of its truck drivers so as to help in reducing accidents on Nigeria road.
He said, “Dangote has been doing that; that is why they engage their staff in different training to enhance their performance. For spending billions of naira to purchase vehicles, it means that it also needs training them to preserve the vehicles. We cannot just hand over investments to someone that don’t know how to use it. And that is why training and retraining are very important.”
The highlight of the Dangote Plant Road Safety Awareness Campaign program was the presentation of hundreds of C-Caution, 500 reflective jackets and 100 motorcyclist helmets to the participants at the event.
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