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

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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.

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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.

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Governor Yusuf Approves 200 Riyals Support, Ihram for Each Kano Pilgrim

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Kano State Governor, Alhaji Abba Kabir Yusuf, has approved a cash support of 200 Saudi Riyals and Ihram to each intending pilgrim from the state for the 2026 hajj exercise.

 

Governor Abba Kabir Yusuf, represented by his Deputy, Murtala Sule Garo, disclosed this on Sunday during the launch of the practical demonstration session organised by the Kano State pilgrims Welfare Board for prospective pilgrims in Kano.

 

Speaking at the event, Alhaji Murtala Sule Garo explained that the exercise was organized to educate, inform, spiritually prepare the intending pilgrims for the Hajj rites from Ihram to Tawaf, from Sa’i to Arafat, from Muzdalifah to Mina and the symbolic stoning of the Jamarat.

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He stated that the administration of Abba Kabir Yusuf remains committed to the welfare and well-being of all the pilgrims from the state.

 

Garo said, “This demonstration is a vital aspect of Hajj preparation. Hajj is not merely a journey of travel; it is a sacred act of worship that requires adequate knowledge, discipline, patience and sincere devotion to Allah.”

 

Garo further conveyed the Governor’s goodwill gesture to the pilgrims.

 

He added, “I also wish to give the good tidings to our pilgrims that the Kano State Government has approved the sum of 200 Saudi Riyals and Ihram to each and every intending pilgrim as a compliment from His Excellency, Governor Abba Kabir Yusuf.”

 

The Deputy Governor also revealed that the administration has secured conducive accommodation arrangements to ensure the comfort and convenience of the pilgrims throughout their stay in Saudi Arabia.

 

According to him, the state government has equally deployed well-trained medical personnel to complement healthcare services provided by the National Hajj Commission of Nigeria (NAHCON), saying qualified Islamic scholars have also been selected to provide spiritual guidance during the exercise.

 

He urged the intending pilgrims to be worthy ambassadors of Kano State and Nigeria by obeying the laws of Saudi Arabia and conducting themselves with discipline, humility, and responsibility throughout the pilgrimage.

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6 Kano Central Senatorial Aspirants Withdraw for Senator Ibrahim Shekarau

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Six Kano Central senatorial aspirants have withdrawn for Senator Ibrahim Shekarau in the forthcoming 2027 general election.

One of the senatorial aspirants and a former Kano State Head of Service, Alhaji Usman Bala Muhammad, stated this while addressing journalists at Aminu Kano House in Abuja.

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Those that Withdraw for Malam Ibrahim Shekarau are Dr Muhammad Zango,Alhaji Danyaro Yakasai,Usman Bala Muhammad ,Shaaban Ibrahim Sharada and Shehu Isah Direba.

 

The aspirants have already purchased their nominations forms and submitted to APC secretariat before they were called for a consensus by Governor Abba Kabir Yusuf.

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Obi Thunders at NDC Convention: ‘Rethink Now, Tyrants! Nigerians Will Reclaim Power in 2027!

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By Yusuf Danjuma Yunusa

 

 

The presidential hopeful of the Nigerian Democratic Congress (NDC), Mr. Peter Obi, vowed today at the party’s national convention in Abuja to reclaim power from the ruling All Progressives Congress (APC) with the support of Nigerians.

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In his words: “To the beneficiaries of democracy who have now turned themselves into agents of destruction, depriving Nigerians of the democracy they enjoy—who think we will not have a free and fair election in 2027—let them rethink now, because we are going to have a free, fair, and credible election.”

 

The party’s convention today officially unveiled the NDC as the country’s second most vibrant opposition platform ahead of the 2027 general elections.

 

With both Mr. Peter Obi and Rabiu Musa Kwankwaso in the NDC, and Atiku Abubakar, Rotimi Amaechi, and Hayatu-Deen in the ADC, the political atmosphere is set for a power play in 2027.

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