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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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Armed Forces Remembrance Day: HoR minority caucus honour Nigeria’s fallen heroes, say “your sacrifices not forgotten”

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The House of Representatives Minority Caucus commemorate with Nigerians on 2026 Armed Forces Remembrance Day, says their sacrifices cannot be forgotten.

This was contained in a commemorative message signed on behalf of the caucus leadership by the Minority Leader, Rep Kingsley Ogundu Chinda stating that:

“Today, the Minority Caucus of the House of Representatives joins the rest of the nation in solemn reflection as we honour the courage, sacrifice, and unwavering patriotism of the gallant men and women of the Nigerian Armed Forces (past and present) who laid down their lives in defence of our country.

“On this Armed Forces Remembrance Day, we remember with deep gratitude those who paid the ultimate price to preserve Nigeria’s sovereignty, unity, and democratic ideals.

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“Their selfless service, often rendered in the face of grave danger and personal loss, remains a powerful reminder that our freedoms were hard-won and must never be taken for granted.

“We also salute our wounded heroes and veterans whose sacrifices did not end on the battlefield, as well as the families of fallen soldiers who continue to bear the pain of loss with quiet strength and dignity.

” Your resilience embodies the true spirit of national service, and the nation owes you an enduring debt of gratitude.

“As a Caucus, we reaffirm our commitment to the welfare of members of the Armed Forces, veterans, and their families.

“This includes sustained advocacy for improved welfare packages, adequate equipment, mental health support, timely pensions, and the fulfilment of all statutory obligations owed to those who have served our nation with honour.

“At a time when our country continues to confront security challenges, we urge renewed national unity, responsible leadership, and collective resolve to support our Armed Forces, not only in words, but through concrete policies and actions that strengthen morale, accountability, and professionalism within the security sector.

“May the souls of our fallen heroes rest in perfect peace. May their sacrifices continue to inspire us to work tirelessly for a safer, more just, and more united Nigeria.

“We remember. We honour. We will never forget.

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Avoid Rumors, Respect Privacy, Promote Inclusivity, Professor Tells Online Journalists

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By Abbas Yushau Yusuf

A Professor of Mass Communication at Bayero University Kano, Nura Ibrahim, has urged online journalists to ensure responsible online engagement and respect privacy in the discharge of their responsibilities.

Prof. Nura stated this while presenting a paper at the two-day retreat organized for the Kano Online Media Chapel of the Nigeria Union of Journalists, held in Dutse, the capital of Jigawa State.

The retreat, sponsored by the Kano State Government through the Ministry of Information and Internal Affairs, engaged online journalists on a wide range of topics to improve their capacity under the theme “Strengthening Digital Journalism Through Ethical Practice and Responsible Online Engagement.”

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Prof. Nura Ibrahim, of the Department of Information and Media Studies, Faculty of Communication, Bayero University, said online journalists should ensure balance in their reportage and avoid inflammatory language.

He also charged them to promote inclusivity, ensure cultural and religious sensitivity, avoid incitement, verify facts before publication, correct errors, and update content appropriately.

The university professor further urged them to combat misinformation, explain facts as they are, provide credible sources, avoid spreading rumors, and adopt language optimization tools alongside responsible SEO practices.

 

 

 

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Kano State Champions Ethical Digital Journalism: Retreat Empowers Online Media for Democratic Growth

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The Kano State Government has reaffirmed its commitment to promoting ethical, responsible and professional digital journalism, describing the media as a critical pillar of democratic governance.

The Commissioner for Information and Internal Affairs, Comrade Ibrahim Abdullahi Waiya, stated this on Wednesday while declaring open a two-day retreat for members of the Kano Online Media Chapel of the Nigeria Union of Journalists (NUJ) in Dutse, Jigawa State.

The retreat, organised by the Kano Online Media Chapel with the support of the Kano State Government, is themed “Strengthening Digital Journalism Through Ethical Practice and Responsive Online Engagement.”

Waiya said the training, the first of its kind for online newspaper publishers in Kano State, underscored the administration of Governor Abba Kabir Yusuf’s recognition of journalism as a vital component of democratic practice.

He commended Governor Yusuf for approving and sponsoring the retreat, noting that the gesture reflected the government’s commitment to manpower development across sectors, including the media.

The commissioner urged online media practitioners to uphold ethical standards, professionalism, accuracy and integrity in news gathering and dissemination, stressing that online journalism must be clearly distinguished from unregulated social media activity.

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“Online journalists are not the same as social media users. Digital journalism must be guided by legal and ethical decorum, not sensationalism or the rush for quick breaking news,” Waiya said.

He noted that the rapid growth of digital platforms, coupled with emerging technologies such as artificial intelligence, has made continuous self-development and professionalism imperative for journalists seeking credibility at local, national and global levels.

Waiya also acknowledged the role of the Kano State Council of the NUJ in supporting the establishment and growth of the Online Media Chapel, attributing the successes recorded so far to cooperation and unity within the union.

He further disclosed that the Ministry of Information and Internal Affairs is advocating for the establishment of a state Freedom of Information law in line with the federal Freedom of Information Act, as part of efforts to strengthen transparency and press freedom in the state.

In his remarks, the Acting Permanent Secretary, Ministry of Information and Internal Affairs, Kano State, Malam Usman Bello, said the government approved the retreat outside Kano State in recognition of the growing importance of online journalism.

He explained that similar engagements had previously been organised for the Correspondents’ Chapel, adding that the retreat was aimed at equipping online journalists with the skills required to adapt to new trends in the profession and practice in line with modern global best practices.

Bello noted that the impact of online media transcends state boundaries, stressing that capacity-building programmes of this nature would help shape journalism practice not only in Kano State but across the country.

Also speaking, the Chairman of the Kano Online Media Chapel thanked the Kano State Government and the Ministry of Information and Internal Affairs for their support, describing the retreat as timely and impactful.

He urged members of the chapel to continue operating within the laid-down ethical guidelines of the journalism profession and in line with the social and legal provisions of Kano State.

The retreat drew participants from various online media organisations operating across Kano State.

The retreat was attended by editors and publishers of various online newspapers operating in Kano State.

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