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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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NCC to Enforce Subscriber Compensation for Poor Telecom Service

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By Yusuf Danjuma Yunusa

The Nigerian Communications Commission has announced that its directive mandating telecommunications operators to compensate subscribers for poor service quality will take effect from this month.

The Commission disclosed this in a Frequently Asked Questions document released on Tuesday, offering clarity on how the compensation framework will work and which subscribers qualify.

According to the NCC, the directive applies specifically to Mobile Network Operators that fail to meet the required Key Performance Indicators for Quality of Service. These operators include major players such as MTN Nigeria, Airtel Nigeria, Globacom, and 9mobile, although the Commission did not specify which of them fell short of the standards.

The NCC noted that a separate compensation framework already exists for Internet Service Providers.

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Under the new directive, compensation will cover service failures affecting voice calls, data services, and SMS. To qualify, subscribers must have experienced poor network service in an affected Local Government Area and must have carried out at least one revenue-generating activity—such as a billed call, SMS, or data session—within the period in question.

The Commission added that both individual and corporate subscribers are eligible for compensation.

Importantly, the NCC stated that subscribers will not need to apply to receive compensation. Instead, telecom operators are mandated to automatically identify affected customers and compensate them directly.

“The compensation framework will take effect from April 2026.

“No. The directive does not replace existing consumer protection mechanisms. It adds a direct compensation mechanism for affected subscribers. It aligns with measures set in existing legislation, such as the Consumer Code of Practice Regulations 2024 and the Quality of Service Regulations 2024,” NCC said

“Operators are required and mandated to identify affected subscribers and provide compensation directly. Only service failures that fall below the defined thresholds set by the Quality of Service Regulations will qualify,” NCC said.

However, the regulator clarified that minor or short-lived network disruptions that are quickly resolved may not meet the threshold for compensation.

The move is part of the NCC’s broader efforts to improve service delivery and hold telecom operators accountable for consistent network performance across the country.

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ADC Leadership Tussle Worsens as Third Faction Emerges, Rejects Nafiu Camp, Mark’s Coalition

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By Yusuf Danjuma Yunusa

A new faction within the African Democratic Congress has surfaced, rejecting the authority of the Senator David Mark-led coalition and distancing itself from Nafiu Bala’s faction.

According to Africa Independent Television, the faction led by Don Norman Obinna claims to represent the legitimate National Executive Committee of the party.

The group says it is stepping in to manage the party’s affairs ahead of the next national convention.

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At a briefing in Abuja on Tuesday, the group stated that “The tenure of Ralph Nwosu, who handed the party to the David Mark group, had ended in August 2022, and afterwards, he (Nwosu) had faced a series of litigations due to his failure to step down.”

The faction also clarified the status of Nafiu Bala, noting that he “never held the position of National Vice Chairman,” and affirmed that former ADC presidential candidate “Dumebi Kachikwu is still a member of ADC”

The group further disclosed that new interim leaders have been appointed to oversee party activities, ensuring continuity until the national convention is held.

The remarks come amid an ongoing leadership crisis within the ADC, which has seen rival factions contest control of the party. The Independent National Electoral Commission recently withdrew recognition of the party’s leadership under former Senate President David Mark.

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Internal Crisis Deepens in Jigawa APC as High-Profile Defections Threaten Party Cohesion

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By Yusuf Danjuma Yunusa

The All Progressives Congress (APC) in Jigawa State is grappling with its most significant internal crisis in years, as a wave of defections by prominent political figures threatens to erode the party’s structural integrity and electoral prospects.

The growing discontent is widely attributed to allegations of poor party management and the marginalisation of key stakeholders under Governor Umar Namadi. His leadership style has come under increasing scrutiny from within party ranks, with critics pointing to a breakdown in internal consensus-building.

Political observers trace the roots of the crisis to a strained relationship between Governor Namadi and his political benefactor, former Governor Mohammed Badaru Abubakar, as well as his financial backer, Isa Gerawa. Although both men remain in the APC, sources familiar with the situation report lingering resentment over what they perceive as a systematic exclusion from decision-making processes and party affairs.

This “cold war” at the highest levels of the party hierarchy has created factions and widened fissures across the APC’s political base in Jigawa. Analysts warn that if left unresolved, the discord could severely undermine party unity and weaken its performance in future elections.

The crisis has now manifested in a string of high-profile defections involving former lawmakers, ex-party executives, and grassroots mobilisers.

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Leading the list are former Senators Sabo Nakudu, who represented Jigawa South-West from 2015 to 2023, and Muhammad Ubali Shitu, a longtime political associate of the governor who served in the Senate from 2015 to 2019. Senator Nakudu’s defection is particularly symbolic, as he previously contested the APC governorship ticket against Namadi. His relationship with former Governor Badaru reportedly soured after Badaru backed Namadi during the primaries. Notably, Nakudu and Badaru have since reconciled, united by their mutual opposition to the current governor.

The departure of former party chairmen further underscores the depth of the crisis. Ado Sani Kiri, who chaired the party from 2014 to 2019 and also served as a commissioner and member of the House of Representatives, has left the party, as has Aminu Keskes, who led the party from 2019 to 2023 and previously served as Gumel Local Government chairman and chairman of the Association of Local Governments of Nigeria (ALGON) in the state.

Also among the defectors is Bala Usman Chamo, a former Social Investment Programme coordinator and Dutse Local Government chairman, widely regarded as a key grassroots organiser. Their exit is seen as a major blow to the party’s strength, given their influence across various political blocs in the state.

The crisis has also penetrated the governor’s inner circle, with several political appointees resigning from their positions and quitting the party. Two serving special advisers have stepped down, including one reportedly preparing to contest for a seat in the House of Representatives under the opposition African Democratic Congress (ADC). Additionally, six senior special assistants and two special assistants have resigned, all citing dissatisfaction with the current direction of the party.

One of the most notable exits is that of Zakari Kafin Hausa, a former senior special assistant who played a central role in organising Governor Namadi’s campaign and mobilising the support that led to his emergence as governor. His defection is viewed by insiders as a significant indicator of deepening cracks within the governor’s inner circle.

Perhaps most damaging to the APC’s political machinery is the defection of at least 17 former local government chairmen. These figures are critical to grassroots mobilisation, electoral coordination, and voter outreach. Their exit signals a potential collapse of the party’s local structures, raising serious concerns about the APC’s ability to secure the mandatory 25 percent of votes in the state during future presidential elections.

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