fbpx
Connect with us

News

Dangote Cement grosses N413.2bn revenue in the first 3 months

Published

on

Aliko Dangote

 

In the first three months of the 2022 financial year, Dangote Cement has recorded a 24.2 percent increase in its revenue and an 18 percent increase in its profit after tax for the same period.

Unaudited results for three months ended 31st March 2022, showed revenue of N413.2 billion and a profit after tax of₦105.9 billion.

Analysis of the cement giant’s three months results indicated that Dangote Cement sold a total volume of 7.2Mt of cement across the group with Nigerian operations accounting for 4.8Mt while the rest of Africa did the balance of 2.4Mt.

Chief Executive Officer, Dangote Cement, Michel Puchercos, in his comments, said that the company started the first quarter on a positive note despite the new uncertainties brought by a very volatile global environment. He stated that increases recorded in revenue and profitability drove strong cash generation across the Group. Profit after Tax rose to ₦105.9 billion, up 18 percent compared to last year while Group EBITDA rose to  ₦211.0 billion, by 18.6 percent with an EBITDA margin of 51.1 percent.

#

Puchercos said, “On the operational side, we are ramping up production at our Okpella plant and are progressing well to deploy grinding plants in Ghana and Cote d’Ivoire. Demand remained strong across all markets, and we remain confident that Dangote Cement is positioned to meet customers’ expectations despite these temporary challenges.

Continuing our efforts to deliver shareholder value, Dangote Cement completed the second tranche of its buyback programme. Following the completion of both tranches, Dangote Cement has now bought back 0.98% of its shares outstanding. This share buy-back programme reflects the Company’s commitment in finding opportunities beyond dividend to return cash to shareholders.”

Puchercos added, “the volatile international context is strengthening our efforts to ramp up the usage of alternative fuels and execution of our export-to-import strategy. Reducing our dependence on imported inputs and making our markets self-sufficient has never been more relevant from a regional perspective.

Our continuous focus on efficiency, meeting strong market demand and maintaining our costs leadership drives our ability to consistently deliver superior profitability and value to all shareholders.”

Dangote Cement is Africa’s leading cement producer with nearly 51.6Mta capacity across Africa. A fully integrated quarry-to-customer producer, it has a production capacity of 35.25Mta in its home market, Nigeria. The Obajana plant in Kogi State, Nigeria, is the largest in Africa with 16.25Mta of capacity across five lines; Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta while Gboko plant in Benue state has 4Mta; and  Okpella plant in Edo state has 3Mta.

Through recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into an exporter of cement serving neighbouring countries.

News

Former Defence Minister General Abbe Passes On At 75

Published

on

 

Former Military Governor of Rivers and Akwa Ibom States, Major General Godwin Osagie Abbe, has passed away. He was 75.

Abbe served as the Military Governor of both Akwa Ibom State from 1988 to 1990, and River State from 1990 to 1992. He also held the position of Minister of Interior under President Umaru Yar’Adua’s administration where he was later redeployed to the ministry of defence

He died in Abuja on Saturday after a long illness.

His academic achievements include a Postgraduate Diploma in International Relations from Obafemi Awolowo University and attendance at the United States Army Infantry School, the Ghana Armed Forces Staff College, and the National Institute for Policy and Strategic Studies.

He rose through the ranks to become the General Officer Commanding of the 2 Division of the Nigerian Army, and commanded both the Training and Doctrine Command and the National War College.

#

Abbe retired in 1999 at the rank of Major General and subsequently joined the Peoples Democratic Party (PDP).

Continue Reading

News

World Bank Project in Kano Trains 1,000 Healthcare Personnel to Combat Malnutrition

Published

on

Dr Umar Yahuza addressing news men

 

Dr. Umar Yahuza, the Project Coordinator for the World Bank-assisted initiative in Kano, known as Accelerating Nutrition Results in Nigeria (ANRiN), has announced the training of 1,000 healthcare personnel in a bid to provide preventive nutrition services to pregnant and lactating mothers.

During a workshop held for the training of healthcare workers, Dr. Yahuza addressed newsmen, highlighting the significance of the ANRiN project, which is funded by the World Bank. He explained that the project aims to change behavior from the grassroots and reverse the negative trends of malnutrition.

Kano State has made significant progress in reducing severe stunting by 9 percent, a notable achievement that underscores the need for continued improvement. Dr. Yahuza emphasized that the N774 being used to train frontline healthcare workers was initially unstructured.

#

The journey began with MYCN facilitators in Kano and Lagos, followed by the training of a critical mass of facilitators. Subsequently, 120 healthcare professionals from various health facilities in Kano, including medical doctors and dieticians, were trained.

Currently, training is underway for 484 apex healthcare facilities in Kano. The training is being conducted at eight different points, with 60 healthcare workers being trained at each location, totaling 1,000 trained healthcare personnel under the MYCN initiative.

Dr. Yahuza expressed optimism about seeing an end to malnutrition in the region. He stated, “We are near to seeing an end to malnutrition. We are not late.”

One of the beneficiaries, Rahinatu Ado Ibrahim, shared her experience, saying, “We received capacity building, and there are available resources.”

The ANRiN project is designed to provide comprehensive support to healthcare workers, equipping them with the necessary skills and knowledge to address malnutrition effectively. With continued efforts and collaboration, the project aims to improve the overall health and well-being of the population in Kano State.

 

Continue Reading

News

Stampede at Catholic Church in Maitama Claims Ten Lives During Food Distribution

Published

on

 

Ten people have been confirmed dead in a stampede at the Holy Trinity Catholic Church, Maitama, on Saturday, 21st December 2024, during the distribution of food items to vulnerable and elderly individuals.

The unfortunate incident, which occurred around 6:30 am, resulted in the loss of ten lives, including four children, and left eight others injured with varying degrees of severity. Four of the injured have been treated and discharged, while the remaining victims are still receiving medical attention.

The FCT Police Command, in a statement issued by its spokesperson, SP Josephine Adeh, confirmed the tragedy, extended condolences to the families of the deceased, and wished the injured a swift recovery.

#

Continue Reading

Trending