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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.

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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Breaking:Court Vacates Order Suspending Ganduje As APC National Chairman

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Kano State High Court, Presided over by Justice Usman Mallam Na’Abba that earlier on slammed an order Suspending Dr Umar Abdullahi Ganduje as National Chairman of the All Progressive Congress APC, has reverses Self vacating same order.

One Haladu Gwanjo and Laminu Sani Barguma who claimed to be the Chairman and Secretary respectively of the APC Ganduje Ward in Dawakin Tofa Local Government area of the State, had secured an order Suspending Ganduje As the Chairman of the Party.

However in a twist of events the Presiding Judge of the High Court Justice Usman Na’Abba said while vacating his earlier order, that upon reading a Motion Ex-Parte together with 27 paragraph affidavit in support and a written address dated the 22nd day of April, 2024 sworn to by one Glory Adah a litigation secretary in the 4th respondent solicitors law firm.

“And after hearing, Mr. L. O. Oyewo Esq, with A. Falana Esq and J. Essiet Esq counsel’s of the 4th Respondent/Applicant, an order of interim injunction is hereby granted”.

The Interim Injunction order is for staying of the execution of the order of interim injunction contained in the ruling of the court delivered on the 17th April, 2024 directing parties to maintain status qou ante as at the 15th day of April, 2024 in relation to the suspension of the 4th respondent/applicant from the 1st respondent by the Ganduje Ward Executive Committee pending the hearing and determination of the 4th respondent/applicant Motion on Notice..

The Judge than adjourned to 30th day of April, 2024 for hearing on the case.

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Malam Aminu Kano Left Only 3 Naira As Cash -Sheikh Fagge

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Late Malam Aminu Kano

 

Abbas Yushau Yusuf

The late political leader of Northern Nigeria, Malam Aminu Kano, who passed away on April 17th, 1983, left only three Naira in cash when he died 41 years ago.

Renowned Islamic Scholar Sheikh Umar Sani Fagge stated this in a viral video during one of his preaching sessions.

Sheikh Fagge mentioned that at the time of Malam Aminu’s death, despite being a minister in the Gowon administration, he left only three Naira in cash.

Sheikh Fagge said one of the clerics who participated in sharing Malam’s assets told him the interesting story of Malam leaving only 3 Naira in cash.

Malam Aminu Kano was among the pre-independence Nigerian politicians who struggled with the colonial masters to secure Nigeria’s political independence on October 1st, 1960.

He was also the opposition leader in the first Republic with the main opposition party in Northern Nigeria, the Northern Elements Progressive Union, which opposed the ruling Northern People’s Congress in the old Northern region.

In the second Republic, Malam Aminu Kano was the leader of the People’s Redemption Party (PRP) and contested the 1979 general elections, which were won by the NPN. However, his party, the PRP, captured the major states of old Kano, Kaduna, Katsina, and Jigawa.

He passed away on April 17th, 1983, which is now 41 years ago.

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New APC Ganduje Ward Leaders Are Impersonators…Faces Legal Actions

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The Ganduje ward executives who counter the second suspension of the APC national chairman

 

 

Mallam Basiru Isah Nuhu, whose names were used as the new Chairman of the APC Ganduje Ward in Dawakin Tofa, resurface alongside other Person’s whose names were impersonated threatening legal actions against the perpetrators who claims to be the new Executive officers.

Speaking after written a Petitions at the Ganduje Ward APC office in Ganduje Dawakin Tofa Local Government area, Sunday, Basiru Isah Nuhu and 10 others, said they would not take the insults on the National Chairman of the Party lightly and they are going to Court to seek redressed.

Basiru and other APC members that said they were impersonated wrote a comprehensive Petitions and submitted them to the State Chapter of the Party, calling for the arrest of those who Impersonates their names.

“Impact to say it all, I’m not even an Executive officer of the Party that I have even converged a meeting in Kano to further suspend the National Chairman of the Party, I’m only a card carrying member and all those you see here none of Us is an Executive officer, so we are taking legal actions to make sure that those causing confusion in our Party are punished”.

Salisu Abdullahi Ganduje who was tagged as the Secretary of the Party by those that suspended the National Chairman, also described what happened as unfortunate which should not allowed to get away.

“Let me make it abundantly clear that I’m not an executive of the APC in Ganduje and I’m never the Secretary of the Party, therefore those who Impersonates me will be traced and taking to Court, I must completely clear my reputation in this saga”, he assured.

The State PRO of the Party, Ahmad Aruwa who received the Petitions written by the aggrieve Party Members who’s names were impersonated, assured that the matter would be taking up to Abuja and those who are behind it will be soon arrested.

“We have alerted the Security on what had happened and we are going to ensure that we arrest those impersonators and they are adequately punished according to the Law of the Land”, Aruwa said.

He said they understand that the very Person who made the new announcement was a card carrying member of the NNPP and he even Contested for Councillor in Ganduje Ward, and soon Security would get at him.

 

The last Press statement by the ward executives who suspended Ganduje the APC national chairman for the second time are as follows .

 

The crisis rocking the ruling All Progressives Congress, APC, in Kano has taken a fresh twist as a new ward executives emerged from Ganduje ward and issued fresh suspension to the National Chairman of the party, Abdullahi Umar Ganduje.

Recall that the leadership of APC at Ganduje ward of Dawakin Tofa Local Government, Mr Ganduje’s hometown, had suspended the former governor of the state over allegations of corruption.

However, the party, at state level, voided the suspension and vowed to sanction those behind what it described as purported suspension after it also disowned them.

But, a Kano state High Court granted an exparte order to affirm the suspension of the embattled former governor of the state on Wednesday.

However, in a dramatic twist, Mr Ganduje approached a Federal High Court in Kano, which also granted him an exparte order to stop his suspension.

In another twist, a group of APC members, who claimed to be from Ganduje ward of Dawakin Tofa Local Government area and said they were validly elected on July 31, 2021, had issued a fresh suspension to the embattled Mr Ganduje.

Addressing journalists in Kano, on Sunday, secretary of APC at Ganduje ward, Ja’afar Adamu Ganduje who spoke on behalf of 11 other executive members explained that the suspension of Mr Ganduje was necessary for alleged anti-party activities which led to division and failure of the party during the last election.

Mr Adamu, who is Mr Ganduje’s nephew also accused him of igniting conflict of interest that led to two factional leadership within the party in the ward, which according to him, brought the party to disrepute in the eyes of the public.

The secretary alleged that the embattled APC national Chairman had not been paying his statutory party dues.

According to Adamu, ” We are the authentic executives of Ganduje ward and we have pass a vote of no confidence and imposed a new suspension on Dr. Abdullahi Umar Ganduje for series of reasons.

“First we have suspended Dr. Ganduje’s membership for creating internal conflict among party members at the ward level. Another major reason why the authentic executives resolved to suspend Ganduje is the issue of anti-party activities he generated during the 2023 elections, which resulted to the party’s failure in the state”.

Adamu emphasized that those two factions claiming to be executive members from the Ganduje ward are fake and impostors, alleging that it was formed by the former governor to cause division and confusion in the party.

Mr Adamu reiterated that the real leadership of the party at Ganduje ward would not hesitate to institute legal action against the two factions earlier addressed the media claiming to be the executive members.

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