Connect with us

News

Dangote promises higher returns, value to shareholders, stakeholders

Published

on

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.

Advert

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.

News

Prominent Kano Politician Ibrahim Little Sues Danagundi, Ibn Sina Over Hisbah Establishment

Published

on

 

A chieftain and leader of the African Democratic Congress (ADC) in Kano State, Alhaji Ibrahim Ali Amin “Little,” has filed a legal action at the Kano State High Court challenging the establishment of an Independent Hisbah body in the state.

It will be recalled that Little had earlier written to the concerned parties, urging them to suspend the move in the interest of peace and stability in the state. A copy of the letter, addressed to former Governor Abdullahi Umar Ganduje, was also sent to the Governor of Kano State, Abba Kabir Yusuf; Baffa Babba Danagundi; Haruna Ibn Sina; and the Department of State Services (DSS).

According to his Executive Assistant and Media Aide, Adnan Mukhtar, Little decided to seek legal redress following what he described as the respondents’ persistence and insistence on proceeding with the establishment of the Independent Hisbah.

Advert

“Dissatisfied with their recent actions and continued insistence on moving forward with the establishment process, Little approached the Kano State High Court to seek redress,” Mukhtar said.

Those listed as respondents in the suit include the Speaker of the Kano State House of Assembly, the Kano State House of Assembly, the Attorney General of Kano State, the Kano State Hisbah Board, Baffa Babba Danagundi, and Haruna Ibn Sina.

In an official statement posted on his Facebook page, Little said:

“I have today instructed my lawyers to file an action challenging the establishment of an Independent Hisbah in Kano State. This follows my recent letter to the parties concerned and their insistence on proceeding with the establishment of the Independent Hisbah.

 

“I believe this move is an attempt to disrupt our peaceful coexistence at a time when the state is facing security challenges.

 

“The peace of Kano State remains our utmost priority.

Kano Sabuwa, In sha Allahu.”

Continue Reading

News

Commissioning of Kano State Online Media Chapel Marks Historic Milestone in Journalism

Published

on

 

 

By: Ahmad Muhammad Sani Gwarzo, ANIPR

The commissioning of the Kano State Online Media Chapel at the Nigeria Union of Journalists (NUJ) Kano State Council Secretariat marked a defining moment in the history of journalism practice in Kano State. The event reflects the continuous evolution of the media profession in response to digital transformation and modern communication realities.

The ceremony attracted prominent personalities from journalism and government circles, underscoring the importance of online media as a vital component of information dissemination, public enlightenment, and democratic engagement in contemporary society.

NUJ National President’s Remarks
In his keynote address, the National President of the NUJ, Comrade Alhassan Yahaya Abdullahi, described the commissioning as a progressive step aligned with global best practices in journalism, where digital platforms now play a central role in shaping public opinion and narratives.

He emphasized that the Online Media Chapel was not established merely for recognition, but to instill discipline, professionalism, and ethical compliance among online journalists operating within Kano State and beyond.

“Journalism remains a noble profession that demands responsibility, truthfulness, and accountability, regardless of whether it is practiced through print, broadcast, or online platforms,” Abdullahi stated. He cautioned against the misuse of digital platforms for misinformation, character assassination, and unverified reports, warning that such practices pose serious threats to societal peace, national security, and the credibility of the profession.

The NUJ President charged members of the Online Media Chapel to see themselves as ambassadors of responsible journalism, committed to accuracy, balance, and fairness in all their reports. He assured that the national body would continue to provide guidance, support, and policy direction to ensure online journalists are fully integrated into the union’s professional framework.

Kano State Government’s Position
Delivering his remarks, the Kano State Commissioner for Information and Internal Affairs, Comrade Ibrahim Abdullahi Waiya, described the commissioning as a timely intervention in the state’s information ecosystem.

He noted that the Kano State Government recognizes the influence of online media in shaping public perception and applauded the NUJ for organizing practitioners under a structured and accountable platform.

Advert

The Commissioner reaffirmed the government’s commitment under the leadership of His Excellency, Alhaji Abba Kabir Yusuf, FNISE, to sustaining a healthy relationship with the media as partners in governance and development. He urged online journalists to use their platforms to promote peace, unity, and developmental initiatives, stressing that responsible reporting remains a key pillar for social stability and economic growth.

“Freedom of expression must go hand in hand with respect for the law, ethical standards, and cultural values,” Waiya emphasized, assuring the chapel of the ministry’s readiness to engage constructively with practitioners to ensure accurate dissemination of government policies and programs.

NUJ Kano State Council’s Perspective
Earlier in his address, the Chairman of the NUJ Kano State Council, Comrade Sulaiman Abdullahi Dederi, welcomed guests and described the day as historic for the council and online media practitioners.

He explained that the decision to establish the Online Media Chapel was borne out of the need to accommodate the growing number of journalists operating on digital platforms within Kano State.

Comrade Dederi noted that the chapel would serve as a platform for capacity building, ethical regulation, and collective engagement, aimed at improving the welfare and professional competence of its members. He reiterated the council’s commitment to fostering unity among all chapels under the NUJ umbrella, emphasizing that journalism thrives best in an atmosphere of cooperation and mutual respect.

Online Media Chapel’s Commitment
Speaking on behalf of online media practitioners, the Kano State Chairman of the Online Media Chapel, Comrade Abubakar Abdulkadir Dangambo, described the commissioning as a dream fulfilled and a turning point for online journalism in Kano State.

He expressed gratitude to the NUJ leadership at both state and national levels for formally recognizing online journalists as critical stakeholders in the media industry.

Comrade Dangambo pledged that members of the chapel would operate with professionalism, integrity, and a strong sense of responsibility to the public. He emphasized that the chapel would prioritize training, mentorship, and internal regulation to ensure members uphold the ethics of journalism at all times.

He further stressed the collective resolve of members to combat fake news, hate speech, and sensational reporting that could undermine social harmony, calling on online journalists to see the chapel as a platform for unity, self-discipline, and continuous learning in line with global journalism standards.

Conclusion
The atmosphere of the event reflected shared optimism and commitment by all stakeholders toward strengthening journalism practice in the digital era. Participants expressed confidence that the Online Media Chapel would contribute positively to professional development, public trust, and credible information dissemination.

The establishment of the chapel was widely acknowledged as a proactive response to the challenges and opportunities presented by digital journalism. The commissioning ceremony concluded with a collective call for ethical journalism, unity among practitioners, and sustained engagement in advancing the role of the media in national development.

The Kano State Online Media Chapel now stands as a symbol of progress, professionalism, and adaptation, reflecting the enduring relevance of journalism in a rapidly changing digital world.

 

Continue Reading

News

Sharada Highlights Africa’s Security Concerns at Washington Parliamentary Intelligence Security Forum

Published

on

Hon. Sohan Dasgupta, Former Assistant Secretary for Trade and Economic Security, U.S. Department of Homeland Security, with Hon. Shaaban Sharada.

 

 

As the 31st Washington Parliamentary Intelligence Security Forum (PI-SF) concluded, participants exchanged ideas on pressing global security challenges and explored actionable solutions aimed at making the world a safer place. The forum brought together lawmakers, security experts, and policymakers from across the globe to deliberate on strategies for peace, intelligence cooperation, and stability.

Speaking after the meeting, Hon. Shaaban Ibrahim Sharada, former Chairman of Nigeria’s House of Representatives Committee on National Security and Intelligence, emphasized the importance of leveraging such platforms to address Africa’s unique security concerns.

Sharada, who also serves as the Forum’s Director for African Parliamentarians Engagements and a member of its steering committee, noted that discussions at the event were particularly relevant to Nigeria and the wider African continent during this challenging period.

Advert

“I engaged in meaningful discussions on peace and stability in Africa, particularly in my country, during this trying moment,” Sharada stated. He expressed optimism that the knowledge gained at the forum would be communicated back to stakeholders within his jurisdiction, fostering collaboration with PI-SF to strengthen Africa’s security architecture and promote global understanding.

Sharada said there is the need for African leaders to take advantage of international platforms like PI-SF to build partnerships that can help tackle terrorism, insurgency, and other transnational threats. He stressed that Africa’s security challenges require not only local solutions but also global cooperation, given their impact on international peace and stability.

The Washington Parliamentary Intelligence Security Forum has become a key gathering for legislators and security professionals worldwide, providing a space to share experiences and develop strategies to counter evolving threats. With Sharada’s active role in bridging African parliamentarians and the forum, Nigeria’s voice continues to resonate in global security dialogues.

 

Continue Reading

Trending