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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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Ex-IG Alkali Withdraws from Yobe APC Governorship Race

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By Yusuf Danjuma Yunusa

Former Inspector-General of Police, Usman Alkali Baba (retd.), has withdrawn from the 2027 Yobe State governorship race on the platform of the All Progressives Congress.

Baba announced his withdrawal in a statement made available to Newsmen on Wednesday, saying the decision followed extensive consultations with political stakeholders and associates across the state and beyond.

The former police chief said the move was taken in the interest of party unity, stability and progress ahead of the APC governorship primaries.

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‎He stated, “After due consultations and exhaustive meetings with the Vice-President, Federal Republic of Nigeria Senator Kashim Shettima, the Executive Governors of Yobe and Borno states, elders and political associates, as well as some very critical stakeholders across the seventeen Local Government Areas, I have decided to withdraw my aspiration for the governorship ticket ahead of the 2027 general elections.”

Baba described the decision as a difficult but necessary sacrifice for the unity of the ruling party in Yobe State.

‎“The decision was not arrived at easily; it is voluntary but an obvious sacrifice we must make in the interest of party unity, stability and progress of our dear state,” he said.

He urged his supporters to remain calm and continue supporting the APC and whoever emerges as the party’s governorship candidate.

‎“Having made this decision, we urge our teeming supporters to remain calm, law-abiding and continue to support our great party, the APC, as well as the eventual gubernatorial candidate,” Baba added.

‎The retired IGP also reaffirmed his commitment to the development of Yobe State despite stepping down from the race.

His withdrawal comes less than 24 hours after another APC governorship aspirant, Alhaji Lawan Kolo Geidam, also exited the contest.

The remaining aspirants include Senator Ibrahim Muhammed Bomai, Mustapha Yunusa Maihaja, Bashir Sheriff Machina and Kashim Musa Tumsah.

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Wike Throws Jab at Makinde, Says Alliance with APM Unknown to INEC

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By Yusuf Danjuma Yunusa

Minister of Federal Capital Territory, Nyesom Wike, has described the alliance between Oyo State Governor, Seyi Makinde-backed Peoples Democratic Party (PDP) and the Allied Peoples Movement (APM) as fraudulent.

“When I say people are fraudulent, they thought I was joking. And that’s the 419 we are talking about,” said Mr Wike during an inspection of ongoing road projects in Abuja on Thursday.

Mr Makinde earlier declared his interest to contest the 2027 presidency after signing a Memorandum of Understanding with the APM to be its standard bearer.

“I, Oluseyi Abiodun Makinde, Excellency, announce my candidacy for the position of the President of the Federal Republic of Nigeria,” the governor stated.

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According to the agreement, candidates of the Turaki-led PDP faction in Oyo State loyal to Mr Makinde who are contesting governorship, Senate, House of Representatives and state assembly seats are expected to run on the platform of the APM rather than the PDP in the 2027 elections.

However, Mr Wike said the alliance was unknown to the Independent National Electoral Commission and his faction of the PDP.

He added, “There’s no alliance between PDP and Allied Peoples Movement (APM) or any other political party, as the case may be. INEC also knows that there’s nothing called PDP-APM alliance.”

Noting that the ongoing political activities within the PDP, including the screening of aspirants, clearly showed that the party remained independent and had not entered into any coalition arrangement, the minister accused Mr Makinde of pursuing his personal presidential ambition through the APM platform.

“PDP has presented a presidential candidate and watch out who will be submitted to INEC and see whether there’s anything called PDP-APM.

“What you have is Seyi Makinde joining APM to be able to actualise his presidential ambition, which is already dead on arrival,” Mr Wike said.

The PDP has been embroiled in leadership crisis stirring yet to be resolved court cases.

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Gbajabiamila Narrates How He Almost Lost His Job as Tinubu’s Chief of Staff

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By Yusuf Danjuma Yunusa

Femi Gbajabiamila, Chief of Staff to President Bola Tinubu, has revealed that the involvement of Honourable Desmond Elliot in the overturned impeachment of Mudashiru Obasa, Speaker of the Lagos State House of Assembly, almost cost him his job as as chief of staff to the president.

Speaking to members and supporters of the APC in Surulere on Thursday, Mr Gbajabiamila revealed that he almost got sacked by Mr Tinubu during Mr Obasa’s impeachment saga involving Mr Elliot and other members of the Lagos State House of Assembly.

“I almost lost my job as Chief of Staff last year because of Desmond Elliot. Mr President called me to his study in his house in Abuja during the Obasa saga, and he said, ‘I heard this Desmond is your boy, the one we gave you, we heard he’s part of the people causing problems in the Lagos House of Assembly,’ and immediately I told Mr President that Desmond was not part of them. I haven’t even confirmed from Desmond, but I defended him.”

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“But the president said, ‘well, I’m telling you from intelligence that he’s part of them. Go and tell him to retrace his steps,’ and I called Desmond and told him that if he was part of them, he should withdraw,” Mr Gbajabiamila added.

He, however, noted that during his phone call with Mr Elliot, the lawmaker dilly-dallied rather than being straightforward with him about his involvement in Mr Obasa’s impeachment saga.

Mr Gbajabiamila noted that three days after his meeting with the president, he received a phone call from the Director General of the State Security Service, who informed him that he was being accused of supporting Mr Elliot to ensure the impeachment of Mr Obasa.

He added, “Of course the president will not believe that Desmond would do such a thing, and I would not know about it. But I told the DG DSS that I had already spoken with Desmond, and he promised to withdraw his involvement in the matter. So, I called Desmond again and directed him to issue a public statement that he wasn’t part of them, but till tomorrow, he never did. If not for my kind of relationship with Mr President, I won’t be here today.”

On January 13, 2025, 32 of the 40 state legislators impeached Mr Obasa while he was out of the country. This triggered a leadership crisis in the Lagos State House of Assembly, prompting Mr Tinubu’s intervention and the subsequent reinstatement of Mr Obasa as Speaker after more than 40 days.

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