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Dangote Cement’s commitment to climate change yields dividend

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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.”

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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

 

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JUST-IN: Court Grants Ex-AGF Malami, Wife, Son ₦1.5bn Bail

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By Yusuf Danjuma Yunusa

 

The Federal High Court in Abuja has granted bail in the sum of ₦500 million each to former Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), his wife, and his son.

Justice Emeka Nwite, who presided over the case on Wednesday morning, ruled that each of the defendants must provide two sureties with verified landed properties in any of the highbrow areas of Asokoro, Maitama, or Gwarinpa within the Federal Capital Territory (FCT).

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The judge further directed that the documents of the properties must be verified by the Deputy Chief Registrar of the court. In addition, the sureties are to depose to an affidavit of means to confirm their financial capability.

Justice Nwite also ordered Malami and the co-defendants to deposit their international passports with the court and barred them from travelling outside the country without prior permission.

The ruling came after the trio were arraigned on charges bordering on alleged corruption and abuse of office during Malami’s tenure as Minister of Justice.

Hearing in the case has been adjourned to February 17.

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No Aspirant is Stepping Down for Another in ADC-Atiku

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By Yusuf Danjuma Yunusa

 

Former Vice-President Atiku Abubakar says no aspirant will withdraw from the African Democratic Congress (ADC) presidential race ahead of the 2027 elections.

In a statement issued by Paul Ibe, his media adviser, Abubakar accused the All Progressives Congress (APC) of attempting to intimidate and weaken the opposition ahead of next year’s elections.

He said all qualified aspirants would “present themselves freely” when the party begins its selection process.

The former vice-president spoke amid reports that he was under pressure to step down for a southern aspirant to emerge as the ADC’s flagbearer.

Abubakar said opposition leaders rallied around the ADC to build a credible national alternative to the ruling party.

“Predictably, agents aligned with the presidency are now attempting to destabilise the ADC from the outside—issuing reckless prescriptions about its internal affairs, particularly the choice of a presidential candidate,” the statement reads.

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“Let it be stated plainly: the ADC is on a national rescue mission. Former Vice President Atiku Abubakar, alongside other committed patriots, is central to this effort. Any call — overt or covert — for Atiku to ‘step aside’ is a gift to authoritarian ambition and a betrayal of the Nigerian people.”

Abubakar stressed that the ADC remained committed to “an open, transparent, and competitive process” for selecting its flagbearer.

He said the party is open to all genuine opposition figures, noting that “inclusiveness—not coercion—is the soul of democracy”.

While reiterating that no one in the party would step down, Abubakar said President Tinubu, whose leadership, he said, has become a “national liability”, should be the one to step down.

“Disruptors and infiltrators must allow the party to do this essential work without interference,” he said.

“When the time comes, all qualified aspirants will present themselves freely. No one is stepping down. If anyone should step aside, it is President Tinubu — whose leadership has become a national liability.

“Let there be no ambiguity: the ADC is determined to end the misfortune imposed by the Tinubu-led APC. No amount of intimidation, intrigue, or sabotage will derail this rescue mission.

“Nigeria will not surrender its democracy without a fight.”

He lamented that Nigerians are suffering in “an era defined by punishing economic policies and shrinking democratic space under President Bola Ahmed Tinubu”.

“True to form, this administration has not only inflicted widespread hardship but has also pursued a calculated effort to eliminate political alternatives. The objective is clear: a creeping, de facto one-party state,” he added.

“Perhaps the Tinubu administration’s most disturbing ‘achievement’ has been the systematic weakening of opposition parties, leaving the All Progressives Congress—despite its manifest failures—standing alone by default, not by merit.”

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Dr. Odusote Becomes First Female to Head Nigerian Law School, as Tinubu Appoints her DG

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By Yusuf Danjuma Yunusa

 

President Bola Tinubu has approved the appointment of Dr Olugbemisola Titilayo Odusote as the Director-General of the Nigerian Law School, marking a historic milestone as the first woman to head the institution since its establishment in 1962.

The appointment, which takes effect from January 10, 2026, is for a four-year term, according to a statement issued on Tuesday evening by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga.

Dr Odusote, 57, is currently the Deputy Director-General and Head of the Lagos Campus of the Nigerian Law School. She will succeed Professor Isa Hayatu Chiroma, whose eight-year tenure expires on January 9, 2026.

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A seasoned legal academic, Odusote obtained her Bachelor of Laws (LL.B) degree from Obafemi Awolowo University and was called to the Nigerian Bar in 1988. She also earned a Master of Laws (LL.M) degree from the same university, specialising in company and commercial law, before proceeding to the United Kingdom, where she obtained a PhD in Law from the University of Surrey. Her research interests include public law and the administration of justice.

She joined the Nigerian Law School in 2001 as a lecturer and has since held several key positions, including Head of the Academic Department, Director of Academics, and Head of Campus. She also served briefly as a visiting scholar at Nottingham Trent University in the UK.

Dr Odusote has published widely in reputable local and international law journals and has presented scholarly papers at numerous legal education conferences. In addition, she has served on several committees of the Council of Legal Education and the Nigerian Bar Association.

As Director-General, she will oversee the Nigerian Law School’s academic leadership, administrative management, and strategic direction across its campuses nationwide. She will also serve as the principal link between the institution and key legal bodies, including the Council of Legal Education, the Body of Benchers, and the Nigerian Bar Association.

Her appointment has been widely hailed as a significant step towards gender inclusion and continuity in legal education administration in Nigeria.

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