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FG charges Dangote Cement tax of N173.93bn for 2021; paid N97.24 billion tax in 2020  

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Aliko Dangote

 

Dangote Cement Plc has sustained its position as a leading contributor to Nigeria’s economy with a tax charge of N173.93 billion for the financial year ended 31st December 2021. According to the cement group’s audited results released on the portal of the Nigerian Exchange Ltd (NGX), the tax charge represents an increase of 78.7 per cent over N97.24 billion in 2020.

Analysis of the cement company’s financial result for the review year indicated that Group sales volume 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.

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Dangote Cement recorded a gross profit of N538.37 billion and after-tax profit of N364.44 billion while earnings per share (EPS) rose to N21.24 from N16.14.  The directors have proposed a dividend of ₦20.00 per share.

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Speaking on the results, Chief Executive Officer, Dangote Cement    Michel Puchercos said, “We are pleased to report a solid set of the results for the full year 2021. Group volumes for the year were up 13.8 percent and Group EBITDA was up 43.2 percent, to ₦684.6 billion at a 49.5 percent margin. I am delighted to report that Dangote Cement experienced its strongest year across all line items, with a record PAT of ₦364.4 billion up 32.0 percent.”

“Our business model remains robust, thanks to the prudent and flexible approach we have taken across our operations. Due to an increased focus on efficiency while meeting double-digit market growth and maintaining costs under control, Dangote Cement has and will consistently deliver superior profitability and returns to its shareholders,” he added.

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 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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Group warns Kwankwaso Against Using Social Media Handlers To undermine security and public order in Kano .

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Kwankwaso

 

The Kano Peace Coalition Group, has uncovered a report on how the Leader of Kwankwasiyya Movement, Dr. Rabiu Musa Kwankwaso, allegedly manipulate Youth groups to create uncertainty and chaos in the ancient City of Kano.

The State Coordinator of the Group, Datti Datti Tukur, said in a release, Tuesday, that the Youth’s who are members of Kwankwasiyya Movement from the branches of the Social Media, have recently taken on their accounts attacking prominent political figures including the state Governor, Abba Kabir Yusuf, Abdullahi U GANDUJE and anyone that disagrees with his self serving political philosophy.
The group specifically singled out a case in which the Kwankwasiyya handlers degnirated the personality of Gov Yusuf depicting him in female attires wearing makeup.

Datti further added that, One of the characters involved in these atrocities was Abba Ibrahim Hussain aka Aiha, a notorious cyber stalker allegedly on the payroll of KWANKWASO.

“Available record shows that Hussain has been charged to a Magistrate Court 47 Zungeru Road, and reminded in Prison on 23 February 2026 for the offences of Cyber Bullying, Stalking and inciting public disturbances” by the DSS kano command.

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Similarly the Group also cited a case of one Abdulmajid Danbilki Kwamanda who was cautioned in the past by the security operatives for allegedly being used by Kwankwaso to denigrate the character of Governor Abba Kabir Yusuf and creat tension in the state.

The group further added that “Despite clear facts against him, Danbilki was neither detained nor harassed by the security Agency”.

They said, reports available to them, also identified one Samir Sani Hanga, Son of the Senator representing Kano Central, Sani Hanga, who was also accused of Cyber Bullying and Staking but cautioned by the security to desist from such criminal behavior in the presence of his father.

“Investigation also uncovered the involvement of one Abdullahi Aminu Warkal, another Kwankwasiyya social media handler who was alleged to have been harassed by the Security operatives.

“Report however indicated that Warkal was invited by the security agency to explain how he defrauded the government of N10 Million.

The Coordinator, appealed to Amnesty International who was said to have issued a statement alleging harassment of Political opponents in Kano to verify every claim with the spirit of fairness and professionalism before taking stand to avoid compromising the group’s reputation and credibility.

“That as a respected INGO, Amnesty International should not allow itself to be compromised by anybody but including KWANKWASO.”
The need to investigate and verify claims before rushing to the press is sacrosanct and complementary to the efforts of security agencies towards eradicating the menace of cyber bullying and disrespect for constituted authority.

He said, “Kano is a respected State with People of dignity, integrity and religious consciousness. No one will be happy to see some misguided individuals sponsored to disrespect elders and leaders. The Amnesty International should look at the issues of cyber bullying, stalking and incitement that clearly violates the law.

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President Tinubu Decorates Disu as New IGP

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By Yusuf Danjuma Yunusa

President Bola Ahmed Tinubu has decorated the newly appointed Acting Inspector-General of Police, Tunji Disu, with his new rank at the Presidential Villa, Abuja.

The decoration took place during the swearing-in ceremony on Wednesday and attended by top government officials and some family members of the new acting IGP.

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With the swearing-in, the Acting IGP, Disu becomes Nigeria’s 23rd Inspector-General of Police.

His appointment follows the resignation of the former Inspector-General of Police, Kayode Egbetokun.

The Presidency linked Egbetokun’s resignation to pressing family considerations.

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BREAKING: DSS Stalls Own Case Against El-Rufai, Claims Ex-Governor Not in Their Custody

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By Yusuf Danjuma Yunusa

A Federal High Court in Abuja has adjourned the scheduled arraignment of Nasir el-Rufai, a former governor of Kaduna State, until April 23.

Mr. el-Rufai is facing a three-count charge brought by the Department of State Services (DSS) related to the alleged unlawful interception of a telephone conversation. The charges stem from comments the former governor made during a television interview.

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The court had initially set Wednesday, February 25, for his arraignment. However, during Wednesday’s proceedings, Mr. el-Rufai was not produced in court.

Oluwole Aladedoyin, counsel for the prosecution, informed the court that the former governor is currently being detained by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in connection with a separate matter.

“Unfortunately, the defendant is with the ICPC, and I do not know how far the investigation with the ICPC has gone,” Mr. Aladedoyin explained to the court.

The charges against the former governor pertain to an alleged breach of the Cybercrimes Act.

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