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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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Kwara Govt Sues Saraki over Criminal Defamation of Gov. AbdulRasaq

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By Yusuf Danjuma Yunusa

The Kwara State Government has instituted a criminal defamation suit at the Kwara State High Court against former senate president, Dr Bukola Saraki.

The former senate president is charged with making defamatory statements against Governor AbdulRahman AbdulRazaq.

The charge was filed by the Attorney-General and Commissioner for Justice, Senior Ibrahim Sulyman, the Director of Public Prosecutions (DPP), Ayoola Idowu Akande, and Assistant Chief State Counsel, B.L. Abdulsalam, on behalf of the people of Kwara State.

According to the charge sheet, Mr Saraki was accused of publishing and sharing a statement on social media platforms including facebook, X and in newspapers on or about April 17, 2026, alleging that Mr AbdulRazaq did not possess secondary school education qualifications.

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The government alleged that the statement was false and was intentionally published using insulting, derogatory and abusive language aimed at provoking the governor and the state government.

The prosecution further stated that the publication was capable of causing a breakdown of public peace, contrary to Section 399 of the Penal Code, Cap. P4, Laws of Kwara 2006.

At the court sitting on Wednesday, Prosecution counsel, R.O. Balogun, informed the court that the matter was scheduled for arraignment and urged the court to issue a bench warrant against Mr Saraki for failing to appear in court.

Mr Balogun said that the defendant had been duly served and that his counsel’s presence in court indicated his awareness of the proceedings.

“The defendant’s counsel is in court appearing for him and he should be here. We are the prosecution and should be allowed to proceed. There is no valid reason given for his absence.

“We therefore pray the court to issue a bench warrant against him in line with Section 138,” he submitted.

However, Counsel to the defendant, Jimoh Mumini (SAN), challenged the jurisdiction of the court, arguing that the matter fell within the jurisdiction of the Federal High Court rather than the State High Court.

He also questioned the service of the charge on his client, insisting that Mr Saraki had not been properly served.

Following a two-hour recess to consider the submissions of both parties on the preliminary objection and request for adjournment, the trial judge, Justice M.O. Folorunso, ruled that the defendant was entitled to seek an adjournment.

The court subsequently adjourned the matter until July 3, for hearing of the preliminary objection and possible arraignment of the defendant.

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NCOS Inaugurates Parole System in Nigeria, Releases First Batch in Abia.

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By Yusuf Danjuma Yunusa

The Nigerian Correctional Service (NCoS) says it achieved a major milestone in the implementation of the Service Act, 2019, with the successful release of 10 Parolees under the parole provisions of the Act.

The NCoS made this known in a statement in Abuja on Monday, by the service Public Relations Officer, CSC Jane Osuji.

Osuji said the historic event which took place at the Medium Security Custodial Centre, Umuahia, marked the first practical application of the parole system in Nigeria.

She also said that it represented a significant advancement in the service’s ongoing correctional reforms aimed at promoting rehabilitation, reintegration, restorative justice, and custodial decongestion.

She described the success as the beginning of a new phase in the evolution of correctional administration in Nigeria and reinforced the correctional service’s commitment to a humane, rehabilitation-driven, and community-focused correctional system.

Osuji said the ten freed parolees were drawn from the Medium Security Custodial Centres in Aba and Umuahia, as well as the Custodial Centre, Arochukwu.

She added that the parolees received empowerment and reintegration support packages to facilitate their successful reintegration into society.

According to her, the packages include sewing machines, vocational tools, livelihood support items through the partnership of PRAWA, IDEA, and ROLAC, with financial assistance to support their transportation and resettlement.

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She quoted the Controller General of Corrections (CGC), Sylvester Ndidi Nwakuche, represented by the Zonal Coordinator, ACG Ngozi Okeke, as describing the occasion as a defining moment in Nigeria’s correctional history.

Nwakuche said that it was a major step towards the full implementation of the transformative provisions of the Nigerian Correctional Service Act, 2019.

According to him, parole is a globally recognised correctional mechanism that enables carefully selected and deserving inmates to gradually reintegrate into society under supervision while maintaining public safety and accountability.

”The successful implementation of parole demonstrates the service’s commitment to balancing justice with rehabilitation, and reflects the Federal Government’s resolve to adopt modern and progressive correctional practices.

”The commencement of parole administration in Nigeria is expected to contribute significantly to the reduction of recidivism, enhance offender rehabilitation, strengthen community reintegration, and decongestion of custodial facilities across the country”.

The CGC commended the Abia Command, Chairman and members of the Abia Parole Board, the Judiciary, and all criminal justice stakeholders for pioneering the implementation of the parole system.

He acknowledged the Prisoners Rehabilitation and Welfare Action (PRAWA), the International IDEA Programme, the Rule of Law and Anti-Corruption Programme (ROLAC), and other NGOs for their support.

The controller also called on traditional rulers, religious leaders, community leaders, employers, civil society organisations, and members of the public to embrace and support the reintegration of parolees and other ex-offenders.

”The successful reintegration remains a collective responsibility and is essential to reducing re-offending, strengthening public safety, and building safer communities,” he said.

Earlier, the Controller of Corrections, in Abia, CC Ifeoma Nwanyanwu, described the event as a practical demonstration of the service’s commitment to rehabilitation-focused corrections.

Similarly, the Chairman of the state parole board, Justice Obisike Oji, explained that parole was not an act of pardon or clemency.

He described it as a structured correctional measure designed to facilitate the supervised reintegration of deserving inmates into society.

He urged the beneficiaries to remain law-abiding and make productive contributions to their communities.

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You Are Playing With Fire— ADC Reacts to Deregistration Ruling, Warns Government Agents

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By Yusuf Danjuma Yunusa

The African Democratic Congress (ADC) has rejected a Federal High Court judgment that could lead to its removal from the ballot, issuing a stark warning to government agents that they are playing with fire and courting anarchy.

In a statement released shortly after the court ruling, the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, accused the judiciary of being weaponised by the ruling party to ensure President Bola Tinubu secures a second term by any means necessary.

The judgment, reportedly delivered by Justice Peter Lifu of the Federal High Court, Abuja, came in a case filed by the so-called National Forum of Former Legislators seeking the deregistration of the ADC and four other political parties ahead of the 2027 presidential election.

The ADC argued that Justice Lifu ignored a subsisting stay of proceedings order issued by the Court of Appeal on May 22, 2026, describing the judge’s conduct as contemptuous and a violation of all known judicial traditions.

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The party further noted that the Independent National Electoral Commission (INEC) — the only constitutional body empowered to register or deregister political parties — had filed a counter-affidavit stating that the ADC had not violated any registration requirements or failed any electoral-performance threshold.

“We are deeply alarmed by this judgment,” Abdullahi said. This stands in direct conflict with constitutional principles and all known judicial processes and procedures.

The ADC alleged that the case has been championed directly by individuals working with the President’s Chief of Staff and pointed to the Attorney-General of the Federation’s decision to join the matter as a plaintiff — a move the party called an absurdity.

“We are therefore left in no doubt that this latest development is a continuation of the ruling party’s persistent efforts to undermine the opposition,” the statement read.

The party noted the curious timing of the ruling, coming after the ADC had already concluded its primaries and is fielding candidates for all positions, including the presidency.

The ADC warned that eliminating a major opposition party through “judicial manoeuvring” would have severe consequences.

“Any attempt to eliminate the country’s major opposition party through judicial manoeuvring, thereby sabotaging the political aspirations of hundreds of its candidates, is a direct invitation to anarchy,” Abdullahi said.

“We consider this ruling reckless, provocative, and even incendiary. Those who believe they can manipulate institutions of state to narrow the democratic space must understand that they are playing with forces far greater than partisan interests.”

The party vowed to challenge the ruling through all lawful means while petitioning the National Judicial Council over what it called the judicial rascality demonstrated by Justice Lifu.

Despite the fiery rhetoric, the ADC urged its members, candidates, and supporters to remain calm, vigilant, and steadfast.

“Whatever it takes, the ADC will be on the ballot so long as the 2027 election is to hold,” the statement concluded.

The party warned that responsibility for any resulting tension or crisis would rest squarely with those who are pursuing this dangerous and illegitimate path.

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