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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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Kano Islamic Scholar Declares Kano Widow Marriage Programme ‘Haram’, Urges Government to Stop It

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A prominent Kano Islamic scholar, Sheikh Alaramma Hadi Inuwa Maihula Sanka, has criticised the Kano State Government’s widow marriage programme, describing the practice as “Haram”, urging the government to discontinue it.

Sheikh Maihula made the position known during an interview with journalists in Kano on Tuesday evening, arguing that marriage, like other major religious obligations, is subject to a person’s ability and means.

According to him, Islam does not compel a person who lacks the financial capacity to undertake marriage, just as obligations such as Zakat and Hajj are not imposed on those without the means to fulfil them.

“Marriage, Zakat and Hajj are never made obligatory on anyone unless they have the means,” he said, citing teachings contained in the Qur’an, particularly Suratul Nur, as well as Hadith narrated by Imams Bukhari and Muslim.

The cleric therefore questioned the use of public funds by state governments to organise or finance special marriage programmes, describing the collection or expenditure of public resources for such purposes as religiously unacceptable.

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He argued that government resources should instead be channelled into addressing pressing social challenges affecting citizens, including inadequate healthcare, water supply and support for vulnerable workers.

“Kano city does not have enough hospitals, there are not enough qualified doctors, there is no Portable drinking water, and pensioners have not all been settled,” he said.

Sheikh Maihula also questioned the concentration of specialist healthcare services in Kano metropolis, saying residents from distant local government areas are forced to travel to the city to access medical treatment.

He specifically mentioned Gwarzo, Takai and Tsanyawa, asking why similar hospitals could not be established in such communities to bring healthcare closer to residents.

“Since Gwarzo, Takai or Tsanyawa, the community has been coming to Murtala Muhammad Specialist Hospital, and this hospital was built in 1928. Why can’t a similar hospital be built in Takai, Tsanyawa or Gwarzo?” he asked.

The Islamic scholar also warned that government-sponsored marriages could create additional financial responsibilities for the state if couples subsequently have children and require assistance with their upkeep.

He argued that rather than spending public funds on marriage ceremonies, governments should empower widows and other vulnerable women through vocational training, entrepreneurship support and other forms of sustainable livelihood assistance.

Maihula urged the Kano State Government, as well as other states considering similar programmes, to reconsider the initiative and redirect resources towards programmes that would enable beneficiaries to become economically self-reliant.

He maintained that empowering women to earn sustainable livelihoods would provide longer-term benefits than one-off marriage interventions.

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TMS Inaugurates Kano North’s 13 LG Executives and Empowers Social Media Representatives

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The Tinubu Maliya Shonikan (TMS) Organisation has inaugurated its local government coordinators across Kano North Senatorial District, with a pledge to strengthen grassroots mobilisation and support the All Progressives Congress (APC) ahead of future political engagements.

The inauguration ceremony, which was held on Sunday at Amani Event Centre, Nassarawa GRA, Kano, was led by the organisation’s leader, Alhaji Ibrahim Yusuf Garo, popularly known as Shonikan, alongside the Kano State Chairman of TMS, Barrister Nura Abdullahi Bagwai.

Speaking at the event, the organisers said the establishment of TMS in Kano North was motivated by the desire to support and promote programmes and political activities associated with Senator Barau I. Jibril Maliya, whom they described as having contributed significantly to the development and representation of the area.

According to the organisation, the initiative is also intended to mobilise support for the APC and strengthen its grassroots structure across Kano North and the wider Kano State.

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As part of the inauguration, social media agents from 141 wards across Kano North were provided with android tablet pc and data support to enable them to effectively communicate the activities, programmes and achievements of the organisation and its political allies through digital platforms.

The leadership of TMS said the provision of the devices and monthly data support formed part of a broader strategy to establish an organised and effective digital communication network across the senatorial district.

The organisation further announced plans to introduce additional programmes and initiatives aimed at strengthening grassroots mobilisation and contributing to the success of the APC from the grassroots to the state level.

The event attracted important diginataries like MD Hadejia Jama’are River Basin Development Authority, Engr. Rabi’u Suleiman Bichi whonis the Guest Speaker if rhe Occasion, APC National Vice Chairman North West Hon. Garba Datti Mohammed, the commissioner National Assembly Service Commission Hon. Yusuf A. Yusuf Tabuka, Representative of rhe State Minister Housing and Urban Development, APC leaders, members, supporters and representatives of the organisation from across Kano North.

The organisers expressed appreciation to God for the successful and peaceful conclusion of the inauguration ceremony, describing the event as an important step towards strengthening the organisation’s structure and activities across the senatorial district.

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No Pay, No Escape: Unpacking Shehu Sani’s Account of Abuja Hospital Lock-Ins

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By Yusuf Danjuma Yunusa

 

The escalating cost of healthcare in Nigeria has reached a critical inflection point, with private hospitals in the Federal Capital Territory now reportedly resorting to security protocols to prevent patients from absconding at night without settling their bills. This stark reality was brought to light on Thursday by former Kaduna Central Senator, Shehu Sani.

In a post on his Facebook page, Sani described witnessing the practice firsthand during a visit to a private clinic in Abuja.

“Some Abuja private hospitals have started taking security measures to ensure that patients don’t escape at night without completely settling their bills. That’s the case when I visited one of the private clinics today,” he wrote.

While he refrained from naming the facility or detailing the specific security steps, his observation underscores a deepening national crisis where medical care is rapidly becoming a luxury, trapping families between the desperation for treatment and the burden of debt.

This practice is merely the symptom of a systemic failure where the rising costs of drugs, diagnostic scans, surgery, and hospital admission fees are pushing citizens to the brink. For many, the choice is no longer between private and public care, but between treatment and survival.

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While patients suffer, health workers argue that hospitals are also struggling under the weight of economic headwinds. With inflation eroding the naira’s value, forex challenges limiting the import of medical supplies, and the removal of fuel subsidies impacting logistics and energy costs, the operational expenses for healthcare facilities have more than doubled in the last 18 months.

While on the other hand, a health practitioner, Ummee Manson, painted a stark picture of Nigeria’s healthcare burden, citing the ordeal of a fictional mother, Mama Chinedu, who had to sell her earrings and borrow money to raise ₦185,000 for her children’s malaria treatment—a bill that, despite saving the children, left the family skipping meals for weeks.

The practitioner noted that this experience mirrors the reality for millions, as it’s documented that in 2024, out‑of‑pocket spending still accounted for 58.3% of total health expenditure, meaning families directly bear the cost of drugs, tests, and hospital care.

The practitioner further warned that such high financial exposure pushes over one million Nigerians into poverty each year, since a single illness can deplete savings, create crushing debt, or force households to abandon care altogether, locking them in a relentless cycle of worsening health and economic distress.

The statistics paint a grim picture of a broken system. Recently released data from the National Bureau of Statistics (NBS) indicates that out-of-pocket spending still accounts for over 70% of total health expenditure in Nigeria. With most families lacking any form of health insurance, they are left to pay directly for services, often depleting their life savings in the process.

In response, both the Nigerian Medical Association (NMA) and various patient advocacy groups are renewing their calls for urgent government intervention. They urge the Federal Government to aggressively expand the National Health Insurance Scheme (NHIS) to cover a larger percentage of the population and to regulate the prices of essential medicines to curb exploitation.

For now, however, survival often depends on the kindness of strangers. Many Nigerians are forced to resort to crowdfunding, church donations, and social media appeals to raise funds for life-saving procedures—a precarious lifeline that is not available to everyone.

Health economists and medical professionals warn that without comprehensive reforms, the trend will only worsen, and until structural changes are made, the haunting reality remains: for millions of Nigerians, a hospital bed is a financial gamble, and the price of life is becoming too high to pay.

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