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Dangote Sugar posts N36.27 billion profit in nine months  

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Aliko Dangote

 

Nigeria’s largest sugar refinery, Dangote Sugar Refinery Plc has announced a profit before tax (PBT) of N36.27 billion for the nine months ended September 30, 2022. According to the sugar refiner’s unaudited results posted on the Nigerian Exchange portal, PBT rose by N13.17 billion compared to N23.10 billion posted in the corresponding period in 2022.

Profit after tax (PAT) rose from N15.51 billion to N24.83 billion while revenue went up from N195.50 billion to N288.32 billion.

Group managing director, Dangote Sugar Refinery Plc, Ravindra Singhvi in his remarks attributed the positive results in the nine months to key trade interventions introduced during the year and   positive market responses. He said, “Our impressive performance in the period demonstrates our resilience in the face of prevalent challenges, which rightly reflected in strong topline growth shown in the financial results.”

Dangote: Priority Investments in Infrastructure, Core Industries will Boost Nigeria’s Economy

It should be recalled that Dangote Sugar Refinery recorded a profit before tax (PBT) of N29.73 billion for the half year ended June 30, 2022 while profit after tax (PAT) hit N20.24 billion in that period.

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Meanwhile, Dangote Sugar Refinery has continued to implement its sugar backward integration projects plans and the enhancement of its Outgrowers Scheme to support the economic growth of the immediate communities. The aim is to develop a robust outgrower scheme with about 5,000 outgrowers when the projects have fully taken off, in addition to the achievement of other targets of its Sugar for Nigeria Project plan.

The key focus is of the sugar refiner is achievement of the Dangote Sugar Backward Integration Projects targets and put Nigeria on the path of sugar self-sufficiency and the world sugar map.

Employee Health & Safety as well as that of its partners remains a top priority at the company’s operations at the Apapa Refinery, its Sugar Backward Integration Operations in Numan, Adamawa State and Tunga, Nasarawa State. All processes are in compliance with stipulated health and safety protocols.

Dangote Sugar Refinery is Nigeria’s largest producer of household and commercial sugar with 1.44M MT refining capacity at the same location, refines raw sugar imported from Brazil to white, Vitamin A fortified refined granulated white sugar suitable for household and industrial uses.

Its Backward Integration goal is to become a global force in sugar production, by producing 1.5M MT/PA of refined sugar from locally grown sugar cane for the domestic and export markets.

To achieve this, Dangote Sugar Refinery Plc acquired DSR Numan Operations (Savannah Sugar Company Limited), located in Numan, Adamawa State in December 2012, and embarked on the ongoing rehabilitation of its facilities and expansion of its 32,000 hectares’ sugarcane estate.

In September 2020, the scheme of merger between DSR and Savannah Sugar Company Limited was completed which gave birth to a bigger and stronger business with considerable opportunity for growth and delivery of superior benefits to all stakeholders. The expansion of the Numan sugar estate is still ongoing as well as the development of the greenfield site acquired at Tunga, Nasarawa State for the achievement of DSR’s sugar for Nigeria development master plan.

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BREAKING: INEC Removes David Mark-Led NWC from Portal, Updates Records Amid ADC Leadership Crisis

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By Yusuf Danjuma Yunusa

The Independent National Electoral Commission (INEC) has formally updated its official portal to reflect changes in the leadership of the African Democratic Congress (ADC), signaling the commission’s recognition of the leadership dispute within the party.

The commission confirmed that the removal of the National Working Committee (NWC) led by David Mark followed a detailed review of a recent Court of Appeal judgment and an ongoing suit at the Federal High Court in Abuja.

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According to INEC, the decision comes after receiving conflicting legal representations from the two factions vying for control of the party. One faction, loyal to Nafiu Bala Gombe, urged the commission to enforce the appellate court’s ruling, which includes withdrawing recognition from the Mark-led NWC. The other faction, aligned with Mr. Mark, advised INEC against recognizing Mr. Gombe as acting national chairman, citing the pending legal proceedings.

The leadership crisis traces back to July 2025, when the ADC’s former leadership resigned, paving the way for a new executive committee headed by Mr. Mark. Mr. Gombe, a former vice-national chairman, has challenged this transition, arguing that the party’s constitution mandates his ascension to the leadership role.

In a ruling delivered on March 12, 2026, the Court of Appeal dismissed an interlocutory appeal filed by Mr. Mark. The court ordered all parties to maintain the status quo ante bellum—the state of affairs before the crisis—pending the resolution of the substantive suit at the Federal High Court.

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JUST IN: El-Rufai Detained as Bail Ruling Adjourned to April 14

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By Yusuf Danjuma Yunusa

Operatives of the Department of State Services on Wednesday took former Kaduna State governor, Nasir El-Rufai, into custody moments after proceedings at the Federal High Court in Kaduna.

El-Rufai, standing trial over alleged corruption, had just concluded a hearing on his bail application filed by the Independent Corrupt Practices and Other Related Offences Commission when DSS operatives bundled him into a waiting vehicle and drove him away, reportedly heading to Abuja.

A heavy DSS presence around the court before the hearing had fuelled speculation that the former governor might be taken into custody.

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Security sources said vehicles had been strategically positioned around the court prior to proceedings.

El-Rufai had arrived at the court at about 9:05 a.m. in a Hilux van, drawing attention from security personnel and observers.

Speaking to journalists after the proceedings, lead defence counsel, Oluwole Iyamu (SAN), confirmed that the court had fixed April 14 for ruling on the bail application.

“The bail application was argued and responded to, and the ruling has been fixed for April 14.

“We look forward to that day. We are hopeful. We have put our arguments before the court, and this is a court of justice.

“We await the decision of the court,” he added.

He also noted that the defence team is prepared for a related case scheduled for April 10 at the Federal High Court in Abuja, describing it as “a separate matter.”

“That is a separate matter. As lawyers, we are ready. We have filed all necessary processes and will be in court. That is the DSS matter,” he said.

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Court Ends NNPP Crisis, Restores Party Leadership to Founder

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The Court of Appeal sitting in Owerri has delivered a decisive judgement in the protracted leadership crisis within the New Nigeria People’s Party (NNPP), affirming Boniface Okechukwu Aniebonam as the recognised leader of the party.

In its ruling, the appellate court set aside an earlier decision of the Abia State High Court in Uzuakoli, which had vacated its previous judgement delivered in favour of the faction led by Aniebonam.

The appellate court held that the lower court erred in granting a motion that effectively reversed its own earlier judgement, thereby upholding all three grounds of appeal filed by the Aniebonam-led faction.

The dispute stems from a November 2024 judgement of the Uzuakoli High Court in Suit No. HUZ/11/2024, which had recognised the Board of Trustees of the NNPP under Aniebonam. However, in June 2025, the same court granted an application that set aside that ruling, following a motion filed by Rabi’u Musa Kwankwaso.

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Dissatisfied with the reversal, the Aniebonam faction approached the Court of Appeal in Owerri (Appeal No. CA/OW/271/2025), arguing that the trial judge lacked the jurisdiction to sit on appeal over his own judgement.

Delivering its verdict, the Court of Appeal agreed with the appellants, restoring the earlier judgement and effectively recognising Aniebonam as the legitimate leader of the party he founded in 2001.

Legal representation in the matter saw Onitsha-based senior counsel, Sir Azubike Anazor, appear for Aniebonam, while Abuja-based Eyitayo Fatogun, SAN, represented Kwankwaso.

The NNPP, which fielded Kwankwaso as its presidential candidate in the 2023 general elections, has been embroiled in internal disputes over its leadership structure, with rival factions laying claim to control of the party.

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