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Dangote promises higher returns, value to shareholders, stakeholders

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Ag. Company Secretary, Dangote Cement Plc, Edward Imoedemhe; Chairman, Dangote Cement Plc, Aliko Dangote; Group Managing Director/CEO, Dangote Cement Plc, Arvind Pathak; and Non-Executive Director, Dangote Cement Plc, Olakunle Alake at the 14th Annual General Meeting of Dangote Cement Plc held in Lagos on 13th April 2023

Chairman of Dangote Cement Plc, Aliko Dangote has guaranteed shareholders and other stakeholders of the company’s management’s resolve to keep the company profitable by leveraging on strategic innovations for the continuous growth of their investments.

Speaking at the 14th Annual General Meeting (AGM), of the company in Lagos, Dangote said the prospects for the cement company remain bright as the management will continue to innovate on quality products delivery to millions of its customers across Africa while touching the lives of its host communities.

He stated: “We will continue to make sure that we keep our shareholders happy, not only the shareholders but all our other stakeholders… Our strategy remains steadfast, focused on organic growth in Nigeria and Pan-Africa while ensuring that Africa’s regional integration becomes a reality. We will continue to contribute to improving regional trade within Africa by building plants across West and Central Africa, guided by our vision of making the region cement and clinker self-sufficient. In addition, we aim to deliver higher returns and value to our shareholders.”

The Chairman pointed out that despite the challenging macroeconomic environment in 2022, the company still made great strides, performed admirably, and remains Africa’s largest and leading cement producer.

Dangote explained that in the face of unexpected challenges in 2022, the company implemented robust cost reduction strategies to manage the inflationary environment, and thus enhanced its competitiveness while maintaining high levels of product quality and customer service delivery.

According to him: “In addition, we achieved giant strides in transitioning to cleaner energy, with our cost containment initiative propelling the use of Alternative Fuel (AF) to replace more expensive fossil fuels, such as coal and gas. We also increased the use of Compressed Natural Gas (CNG) for our trucks due to the rising diesel cost environment.

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These efforts have helped us reduce our cost base and enhanced our flexibility, enabling the Company to respond more effectively to changes in the market. As a result, we recorded revenue and EBITDA growth of 17.0 per cent and 3.5 per cent from the prior year respectively, albeit under unprecedented inflationary pressure. We also achieved a profit after tax of ₦382.3 billion, up 4.9 per cent compared to 2021.”

Analysing the 2022 year-end result, Dangote explained that the company achieved its highest revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) in history at ₦1,618.3 billion and ₦708.2 billion, respectively. The exceptional EBITDA, according to him, was supported by its numerous cost containment measures, substituting higher-cost fuel for cheaper alternative fuel products.

The Company Chairman explained that: “Over the last twelve years, volumes have grown by a double-digit compound annual growth rate of 11.2 per cent. Similarly, EBITDA has grown at a compound annual growth rate of 16.3 per cent, over the same period, implying a five-fold increase and revealing a true growth story.

“Accordingly, we closed the year with a profit after tax of ₦382.3 billion and an Earning per Share (EPS) of ₦22.27. Despite these accomplishments, we are not resting on our laurels. We recognise that the business environment remains volatile, so we will continue to evolve with the changing times while embracing technological advancement,” he added.

Speaking on the Company’s Annual Reports, Mrs. Bisi Bakare, Chairman of the Pragmatic Shareholders Association, commended the management of Dangote Cement for its doggedness during the year under review for still being able to exceed the shareholders’ expectation in view of the inclement economic weather under which companies operated in the country.

She explained that the shareholders were happy for the returns, pointing out that it only means that the company was living up to its billing as the largest in Sub-Saharan Africa, adding that if not for the resilience of the management, the company would not be able to post such an impressive performance in 2022.

Mrs. Bakare alluded to the successful listing of the N300 billion series bond by the Company, saying the company succeeded largely due to the confidence reposed in the company and its management by the investing public. “It is not all companies that could record such a feat given the huge amount involved and the biting economic situation”, she stated.

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Private Schools: A Backbone of Youth Employment -Imam Zubair

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Private schools in Kano State have emerged as a significant industry fostering youth employment across various sectors, according to Alhaji Imam Ahmad Zubairu Galadanchi, MNI, Chairman of the National Association of Proprietors of Private Schools (NAPPS), Kano State chapter.

In an exclusive discussion with journalists, Alhaji Imam Galadanchi highlighted the economic impact of private schools, stating that each institution employs over sixty staff members—including teachers and non-academic personnel—who receive regular monthly salaries. Beyond direct employment, he noted that these schools stimulate local businesses by commissioning sportswear and student uniforms from tailors within the community.

With over 4,000 private schools officially registered with the Kano State Government, the sector plays a vital role in shaping education and economic development. Galadanchi called on parents to continue enrolling their children in neighborhood schools to ensure quality education and promote their children’s growth. He stressed the importance of parental involvement in their children’s education, advising parents to monitor lesson notes and assignments actively.

Furthermore, he urged parents to prioritize their children’s well-being by supporting their education, nutrition, and healthcare needs.

The private school industry in Kano remains a cornerstone for employment and local economic growth, reinforcing the importance of community-driven education.

Signed:
Ahmed Muhammad Sani Gwarzo, Zonal Information Officer, Municipal Zone 1

 

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NUJ Kano State Council Urges Government to Provide Fertilizer Ahead of Raining Season

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The Nigeria Union of Journalists (NUJ), Kano State Council, has called on the Kano State Government to ensure the timely provision of adequate fertilizer and other agricultural inputs to farmers in preparation for the upcoming rainy season. This appeal was made in a communiqué issued at the conclusion of the council’s congress meeting, which brought together representatives from various chapels under the union.

The congress, presided over by the council’s chairman, Comrade Sulaiman Abdullahi Dederi, focused on addressing issues affecting journalism, the unity of its members, and broader concerns impacting the state. In his opening remarks, Dederi commended members for their dedication to their professional duties and emphasized the importance of the meeting in fostering dialogue and collaboration.

During the session, the congress reviewed and adopted the council’s secretariat and financial reports. Members also deliberated on a range of pressing issues, leading to several resolutions:

1. Environmental Concerns: The congress expressed alarm over the rampant felling of trees and indiscriminate bush burning across the state, which threaten the ecosystem and ozone layer. It urged the government and relevant stakeholders to address these practices and called on individuals to desist from such harmful activities.

2. Health Initiatives: The congress appealed to the state Commissioner of Health to implement measures to combat mosquitoes and prevent malaria outbreaks in both rural and urban areas.

3. Sports Development: A recommendation was made to the state Commissioner of Youth and Sports to procure a luxury bus for Kano Pillars, aiming to alleviate transportation challenges faced by the team.

4. Power Supply: The congress highlighted the adverse effects of incessant power outages on the socio-economic lives of Kano residents and called on stakeholders to find lasting solutions.

5. Agricultural Support: The council reiterated its plea for the government to provide farmers with necessary inputs, including fertilizer, to ensure a successful farming season.

In addition to these resolutions, the congress extended commendations to the Kano State Government for its efforts in reviving education and improving infrastructure, such as roads, water supply, and street lighting. The council also lauded the Correspondents Chapel for raising one million Naira to support the family of a deceased member, Mr. Ted Odugwu, and congratulated the newly inaugurated Online Chapel on its achievements.

The communiqué was signed by Comrade Sulaiman Abdullahi Dederi, the council’s chairman, and Abubakar Shehu Kwaru, the council’s secretary. The drafting committee included Abdullahi Yusuf, Abubakar A. Dangambo, and Farida Umar Abdu.

The NUJ Kano State Council remains committed to advocating for the welfare of its members and addressing issues of public interest.

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Bandits Kill Abducted Chief Imam of Historic Maru Central Mosque

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Malam Salisu Suleiman Liman, the Chief Imam of the First Jumu’at Central Mosque in Maru, the headquarters of Maru Local Government Area of Zamfara State, and his two sons, who were abducted by bandits, have been killed.

The Imam was abducted alongside his children, a newlywed couple, and several others on Thursday, February 13, 2025.

The terrorists invaded Maru town during a midnight raid that lasted for about two hours.

The newlyweds, Muhammad Suleiman and his wife, Balkisu, were kidnapped on the first night after their wedding ceremony.

Security analyst Bakatsine confirmed the sad development on Tuesday, April 29, stating that the bandits also killed his family members.

Nigerian Tracker reports that, during the colonial era, prominent Northern Nigerian scholars, including Sheikh Abubakar Gumi and Malam Aminu Kano, taught in Maru schools.

 

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