Connect with us

News

Dangote Cement’s commitment to climate change yields dividend

Published

on

 

Dangote Cement’s commitment to environmental disclosures and sustainability is yielding the desired results with Carbon Disclosure Project (CDP) raising its rating from C to B- even as it proposes a dividend of N20 per share for the year ended December 31,2021.

The CDP is an international non-profit organization based in the United Kingdom which runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.

CDP explained that it raised the rating as a result of the Company’s commitment to climate change. The upgrade clearly illustrates the progress made by Dangote Cement regarding commitment to transparency and mitigating its carbon dioxide footprint. This is one of the highest ratings in Sub-Saharan Africa and the only Nigeria company rated by CDP.

Chief Executive Officer of Dangote Cement Plc, Michel Puchercos, in his response to the development said: “We are pleased to be recognised for the progress that we are making in our environmental disclosures and sustainability. The CDP rating upgrade clearly illustrates the steps that Dangote Cement is taking in its commitment to transparency on climate and environmental issues.

According to him, the cement company is focused on making a positive difference, which is “why sustainability is at the core of every part of our business. In addition, our Alternative Fuel Project is at an advanced stage which aims to leverage waste management solutions, reduce CO2 emissions, and source material locally. This year, we co-processed 89,000 tons of waste representing a 60% increase over 2020.”

Advert

2023:Ganduje, Kwankwaso Held Secret Night Meetings

He added that Dangote Cement is focused on sound governance, saying, “we are leading the way with our commitment to sustainability and best practices.  We are driven by the goal of achieving the highest level of governance and building a sustainable brand for all stakeholders.  Transparency and consistency are at the core of every part our business culture”

In its financials for full year ended December 31, 2021, Group sales volume for Dangote Cement stood at 29.3Mt, with Nigeria accounting for 18.61Mt while operations in other countries did 10.86Mt.

Group revenue was N1,383.6 billion for the full year, made up of N993.34 billion from Nigeria while revenue from across African plants was N397.32 billion, in contrast to the group revenue of N1,034.20 billion in 2020 which constituted of N719.95 billion from Nigeria and N318.68 billion from other African operations. Dangote Cement recorded a gross profit of N538.37 billion and after-tax profit of N364.44 billion. The directors have proposed a dividend of ₦20.00 per share.

Dangote Cement became the first Nigerian listed company to report its financial results using XBRL format with the IFRS taxonomy. Adopting XBRL reporting format will strongly benefit Dangote Cement’s existing and potential investors. It represents another step in continuing efforts to modernize and enhance transparency of, and access to, companies’ disclosures.

Dangote Cement Plc is sub-Saharan Africa’s largest cement producer with an installed capacity of 45.6Mta across 10 African countries and operates a fully integrated “quarry-to-customer” business with activities covering manufacturing, sales, and distribution of cement.

 

Dangote Cement has a long-term credit rating of AA+ by GCR and Aa2.ng by Moody’s due to its market leading position, significant operational scale and strong financial profile evidenced by the company’s robust operating and net profit margins relative to regional and global peers, adequate working capital, satisfactory cash flow and low leverage.

 

Dangote Cement is a subsidiary of Dangote Industries Limited, a diversified and fully integrated conglomerate as well as a leading brand across Africa in businesses such as cement, sugar, salt, beverages, and real estate, with new multi-billion-dollar projects underway in the oil and gas, petrochemical, fertiliser and agricultural sectors

 

News

Kano Government Attributes Muhuyi’s Arrest to Handling of High-Profile Corruption Cases Involving Politically Exposed Persons

Published

on

 

The Kano State Government has expressed deep concern over the arrest and subsequent transfer to Abuja of the former Chairman of the Public Complaint and Anti-Corruption Commission (PCACC), Mr. Muhuyi Magaji Rimin Gado, by heavily armed operatives of the Nigeria Police Force. The development was disclosed by the Attorney General and Commissioner for Justice, Abdulkarim Maude (SAN), while addressing journalists in Kano on Friday evening, with the Commissioner for Information, Ibrahim Abdullahi Waiya, standing in support.

According to Maude, credible information available to the state government revealed that Mr. Rimin Gado was arrested at about 5:30 p.m. at his law office along Zaria Road, Kano, without the presentation of any warrant of arrest or disclosed court process. He was first taken to the Police Headquarters at Bompai, Kano, before being whisked away to Abuja later that same evening. The Attorney General stressed that the incident raises serious constitutional and legal concerns, citing Sections 35, 36, and 46 of the 1999 Constitution of the Federal Republic of Nigeria (as amended), which guarantee personal liberty, fair hearing, and the right to enforce fundamental rights.

While acknowledging the powers of the Nigeria Police Force to investigate crimes, Maude emphasized that such powers must be exercised strictly within the confines of due process and constitutional safeguards. He noted that the arrest of a former head of a major anti-corruption agency without prior engagement with the state’s justice system undermines federalism and inter-governmental cooperation. “Although prior notification may not be a strict constitutional requirement, professionalism and respect for institutional courtesy demand it, especially in actions capable of affecting public peace and political stability,” Maude said.

The Attorney General further warned that the manner, timing, and militarized nature of the arrest could provoke fear, public tension, and political misinterpretation within Kano State. He alleged that certain political elements outside the state may be attempting to exploit federal institutions to destabilize Kano and disrupt its prevailing atmosphere of peace and good governance. “The government is deeply worried about the political undertones of this operation,” he added.

Advert

Maude also revealed that the arrest may be linked to several high-profile criminal investigations and ongoing prosecutions involving politically exposed persons from Kano State. He explained that Mr. Rimin Gado is believed to possess critical, firsthand evidence in those cases, raising fears that his arrest was calculated to obstruct or compromise the integrity of sensitive investigations. “This action poses a serious threat to the administration of criminal justice,” the Attorney General declared.

Even more troubling, Maude noted, is the existence of a subsisting order of the High Court of Justice restraining the Nigeria Police Force and other security agencies from arresting or harassing Mr. Rimin Gado. He condemned the police for disregarding the lawful order and deploying over forty heavily armed officers for the arrest. “At a time when the nation is grappling with serious security challenges, the deployment of such massive force for a civilian arrest is shocking and raises concerns about misplaced priorities and abuse of power,” he said.

The Attorney General stressed that Kano State remains peaceful and governed by the rule of law, warning that any action capable of provoking disorder or politicizing law enforcement must be firmly rejected. He outlined the government’s position, demanding strict compliance with constitutional provisions, calling on the police to clarify the legal basis of the arrest, reaffirming commitment to the rule of law, and cautioning against the misuse of federal security apparatus for political objectives.

In his closing remarks, Maude assured the public that the Kano State Government remains committed to cooperating with lawful security agencies but will not hesitate to take constitutional steps to protect its citizens and preserve public peace. He urged residents to remain calm, vigilant, and law-abiding as the government continues to monitor the situation closely. “We will act decisively in the overall interest of justice, peace, and constitutional order,” he concluded.

 

Continue Reading

News

Kano Online Chapel Remains Committed to Ethics, Condemns Blackmail Journalism-Dangambo

Published

on

 

The Chairman of Kano Online Chapel of the Nigerian Union of Journalists Abubakar Abdulqadir Dangambo has called on his members to remain committed to ethical Journalism.

He stated this in a chat with newsmen in Kano on Friday.

Dangambo further described the act by some Online newspapers editors in blackmailing people and institutions by using pseudonym as blackmailing and against the ethics of Journalism.

“There is balancing in Journalism, you can’t just report one side in a conflicting story to avoid being described as bias but it is unfortunate that some people are hiding under the name of Kano to be reporting what is blackmailing and unethical in the discharge of their work.

Advert

Journalism remains one of the symbol of development, when Journalists remain ethical by doing their job with all sincerity I believe this is the beginning of development.

I’m calling on such journalists who refused to register with us for reasons best known to them to do so as we will not fold our arms seeing Online Journalists misbehaving and their misconduct will be seen like we are all the same.

These Online newspapers know themselves, they should do so as soon as possible as we are now working in publishing the name of our members”. He said

Continue Reading

News

President Tinubu Approves New Governing Boards for BOA, UBEC, NADF

Published

on

 

By Yusuf Danjuma Yunusa

 

President Tinubu has approved the constitution and reconstitution of the governing boards of the National Agricultural Development Fund (NADF), Bank of Agriculture (BOA), and Universal Basic Education Commission (UBEC).

Below is the full list of appointed chairmen, executive directors, and members:

UNIVERSAL BASIC EDUCATION COMMISSION (UBEC) BOARD
– Chairman: Senator Umaru Tanko Al-Makura (retained)

– South East Representative: Uchendu Ikechi Mbaegbulem

– South South Representative: Gift Ngo

Advert

– South West Representative: Mrs Ibiwunmi Akinnola

– North East Representative: Dr Meiro Mandara

– North West Representative: Dr Abdu Imam Saulawa

– North Central Representative: Professor Paul Ibukun-Olu Bolorunduro

(Term: 4 years in the first instance)

BANK OF AGRICULTURE (BOA)

– Chairman: Muhammad Babangida

– Managing Director/CEO: Ayo Sotinrin

Executive Directors
– Fatima Garba (Sokoto) – Executive Director, Corporate Services

– Ka’amuna Ibrahim Khadi (Borno) – Executive Director, Risk Management & Strategy

– Hakeem Oluwatosin Salami (Kwara) – Executive Director, Operations

Non-Executive Directors
– Aminu Malami Mohammed – North East
– Charles Amuchienwa – South East
– Oladejo Odunuga – South West
– Rabiu Idris Funtua – North West
– Kochi Donald Iorgyer – North Central

NATIONAL AGRICULTURAL DEVELOPMENT FUND (NADF) BOARD
– Executive Secretary/CEO (previously appointed): Muhammad Abu Ibrahim

– Chairman: Mallam Bello Maccido (North West)

Members
– Dr Nelson Henry Essien – South South (Akwa Ibom)
– Amina Ahmed Habib – North West (Jigawa)
– Engr. Akinyinka Olufela Akinnola – South West (Ondo)
– Hassan Tanimu Musa Usman – North East (Borno)
– Lufer Samson Orkar – North Central (Benue)
– Felix Achibiri – South East (Imo)

The appointments, as announced and signed by Bayo Onanuga, Special Adviser to the President (Information and Strategy), on Friday. take immediate effect.

Continue Reading

Trending