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Dangote Cement Shareholders Unanimously approve a 10% share Buy-back Programme

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Non-Executive Director, Dangote Cement Plc, Halima Aliko-Dangote; Chairman, Dangote Cement Plc, Aliko Dangote;  Group Managing Director, Dangote Cement Plc, Michel Puchercos; and Non-Executive Director, Dangote Cement Plc, Olakunle Alake at the Extraordinary General Meeting of Dangote Cement Plc, held in Lagos on December 13, 2022.

 

 

 

Shareholders of Dangote Cement, unanimously on Tuesday authorised the Management of the company to undertake a share buyback of up to 10 percent of its issued shares, effective from the date of the resolution.

The company had earlier indicated an interest in undergoing a share buyback programme, in respect of up to 10 percent of its issued shares, for the purpose of improving the company’s return on equity and its shareholders’ value, so as to facilitate the future long-term growth of the company.

The approval through voting, which was given at the company’s Extraordinary General Meeting, held in Lagos recorded a 100 percent approval from the shareholders, with many of them describing the exercise as very laudable and a win-win situation for them.

 

Among other resolutions, the shareholders authorised that the “Memorandum and Articles of Association of the company be amended (as applicable), upon completion of the share buyback, to reflect the company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the company.”

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The Board was also authorised to ensure that the amendment of the Articles of Association of the company reflects the company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the company.

 

It would be recalled that the Shareholders, at the company’s recent 13th Annual General Meeting (AGM), also commended the Management of the company for an impressive performance despite the economic challenges in the year under review.

 

Unanimously, they approved N20 per share for the year ended December 31, 2021, as against the N16 paid in the preceding year. That represented a 25 per cent increase in dividend compared to the 2020 dividend of N16.00 per share, reinforcing the Company’s commitment to maximising shareholder value. They also applauded the company for its drive in reducing unclaimed dividends of the company.

 

Dangote Cement in the year under review achieved its highest profit before tax in its history at N538.4 billion. Also, the Company recorded Group volumes of 29.3Mta, up 13.8 per cent. Exceptional EBITDA of N684.6 billion was achieved, up by 43.2 percent owing to strong cost control measures.

 

Chairman of the company, Aliko Dangote, said that “Over the last decade, Dangote Cement has recorded exponential growth across all areas.” According to him, “Group volumes are now at almost 30Mta, our capacity has tripled to 51.6Mta and we export cement from five countries across Africa.”

 

“As the volatile global environment propels us into a new era of uncertainties, we are fortunate that the last two years have taught us resilience, adaptability, and grit. These values are what we need to face in unpredictable times in the future.

 

“Dangote Cement remains the leading cement company in Africa, well-positioned for a positive and sustainable future. We are resolute in transforming Africa while creating sustainable value for our stakeholders,” Dangote added.

 

 

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APC Extends Membership Registration, Reschedules Congresses and Convention

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By Yusuf Danjuma Yunusa

The ruling All Progressives Congress (APC) has announced a revised timetable for its internal activities, extending its electronic membership registration and rescheduling upcoming congresses and its national convention.

The decisions were reached during the 183rd meeting of the party’s National Working Committee (NWC) held on Friday, January 30, 2026, at the APC National Secretariat in Abuja. In a statement issued by the National Publicity Secretary, Felix Morka, the party outlined the key changes.

The electronic membership registration exercise has been extended from January 31 to February 8, 2026. According to the statement, the extension follows requests from party stakeholders and is intended to allow more supporters and members to register or validate their membership.

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Furthermore, the schedule for party congresses has been adjusted. Ward congresses are now set to hold on Wednesday, February 18, 2026, while the National Convention has been rescheduled for March 27–28, 2026.

The statement also clarified that some states would be excluded from the forthcoming state congresses. Osun State, Ekiti State, and the Federal Capital Territory (FCT) are exempted due to upcoming elections, while Rivers State is excluded because of the subsisting tenure of the current party executive committees in the state.

Additionally, the NWC confirmed the constitution of a National Convention Planning Committee. The party noted that further details regarding the adjusted timetable and the composition of the planning committee would be communicated in due course.

These changes mark a significant recalibration of the APC’s internal electoral calendar as it prepares for its national convention and subsequent political engagements.

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Turaki-Led PDP Faction to Appeal Court Ruling, Affirms Legitimacy

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By Yusuf Danjuma Yunusa

The Kabiru Turaki-led faction of the Peoples Democratic Party (PDP) has announced it will appeal a Federal High Court ruling in Ibadan that refused to grant its request for an order of mandamus. The court, in its Friday judgment, stated that granting the order would amount to reviewing decisions of courts of equal jurisdiction—a ruling the faction described as “not unexpected.”

In a statement issued by the party’s National Publicity Secretary, Ini Ememobong, and posted on his X (formerly Twitter) account, the faction confirmed it has directed its legal team to file an appeal immediately and take all necessary legal steps to defend its standing.

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Despite the legal setback, the faction asserted that its leadership, which emerged from the PDP’s Ibadan convention, remains legally intact and unaffected. The statement called on members to stay calm and resolute, assuring them there is “absolutely no cause for alarm” and that the party’s “rebirth movement remains firmly on course.”

The development is part of an ongoing internal dispute over leadership and legitimacy within the PDP, with rival factions seeking judicial affirmation. All eyes are now on the appellate courts, whose decisions could significantly influence the party’s structure and direction ahead of future political activities.

The faction expressed confidence that higher courts would ultimately uphold its position, stating it “awaits the authoritative pronouncement of the appellate courts.”

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Fayemi Denies Alleged Closed-Door Meeting with Kwankwaso

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By Yusuf Danjuma Yunusa

Former Ekiti State Governor, Dr Kayode Fayemi, has denied reports claiming that he held a closed-door meeting with former Kano State Governor, Senator Rabiu Kwankwaso, at his Abuja residence.

Fayemi, immediate past Chairman of the Nigeria Governors’ Forum, dismissed the report in a statement issued by the Head of his Media Office, Ahmad Sajoh, on Thursday, describing the claim as false and urging the public to disregard it.

The report, which circulated on X (formerly Twitter) on Wednesday, was shared by several social media handles alongside an old video clip showing Fayemi greeting Kwankwaso at his residence.

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According to the statement, the former Ekiti governor had met Kwankwaso only once in the past year and not in any private political setting.

“Dr Fayemi has only met Senator Kwankwaso once in the last year, and that occasion was at the public book launch of former Attorney-General of the Federation, Mohammed Bello Adoke, SAN,” the statement said.

It added that, “At no time has Dr Fayemi held, or is he holding, any closed-door political meeting with Senator Kwankwaso as suggested by the post.”

The former governor acknowledged that he and Kwankwaso have been friends since their time as governors, but stressed that their relationship is personal and non-partisan.

He noted that the friendship is “based on mutual respect and a shared commitment to the progress of Nigeria, rather than on any political alignment.”

Fayemi also cautioned against attempts by political actors to attach partisan interpretations to private relationships, noting that many of his friends and associates are either not involved in partisan politics or belong to different political persuasions.

The statement added that Fayemi’s associates “span the entire spectrum of Nigeria’s political terrain.”

It, therefore, reaffirmed the former governor’s commitment to national unity, principled engagement, and responsible public discourse.

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