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Dangote Sugar pays N18.22bn Dividends, to produce 170,000 Tonnes next season

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L-R: Company Secretary/Legal Adviser, Dangote Sugar Refinery Plc, Temitope Hassan; Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; and Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; at the Dangote Sugar Refinery Plc 17th Annual General Meeting held in Lagos on 14th April, 2023

 

 

Despite the economic headwinds that characterised 2022, Dangote Sugar Refinery Plc (DSR) will pay N18.22 billion as dividends to shareholders for the year ended December 31, 2022, while also targeting the production of over 170,000 tonnes of sugar next season. The dividend payout will translate to N1.50 kobo per share held by shareholders.

Chairman of the Company, Aliko Dangote said: “The shareholders are very happy with the way we have been running their company and also in re-investing the profit into the Backward Integration Programme (BIP) for the sugar industry. We are going to play our part in ensuring that Nigeria becomes self-sufficient in sugar within a very short period. We are not the only players, but we will surely play our part. We should be able to produce over 170,000 tonnes which are by far, in the history of Nigeria, the highest to be produced locally.”

The company recorded an impressive turnover of N403 billion, a 46 per cent increase over N276 billion recorded during the same period in the year before, and posted a Profit before Tax (PBT) of N82 billion.

Dangote attributed the company’s remarkable performance to the pragmatic approach the management deployed by focusing on continued cost and process optimisation, improved efficiencies in every area of operations, and service delivery to our customers.

He pledged that the management would continue to implement strategic actions to sustain the performance with the support of all stakeholders with complete adherence to the tenets of the Federal Government’s Sugar Master Plan.

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Dangote said part of the success recorded by Dangote Sugar was made possible by the management’s continued implementation of the Dangote Sugar Development Master Plan with the rehabilitation and upgrade of the Dangote Sugar Refinery’s Numan operations, facilities and land development, as well as the development of the Nasarawa Sugar Company Limited, the greenfield sugar project, and Tunga in Nasarawa State.

He said: “Concerted efforts were made during the year to rise above the various challenges that came about due to the COVID–19 lockdown which affected project timelines considerably and continued to generally impact economic activities due to its spill-over effect, which also led to the lack of forex to finance most of the project deliverables.

“We however continued to surge ahead supported by the various stakeholders in the industry and government parastatals, with the resolve to ensure that the goals of the Nigeria Sugar Development Master Plan are achieved.”

The Company Chairman noted that during the year under review, the first phase of the Sugar Master Plan implementation period came to an end and that the Federal Government approved the second phase over the next 10 years. “This extension came on the back of the review of the first phase by the National Sugar Development Council and other government parastatals with cognisance of the challenges and several circumstances that were unforeseen which riddled the first phase of the programme,” he added.

Dangote stated that the board and management were, however, focused on the achievement of the goals of the strategic initiative, and thus considerable progress was recorded in the project development, despite the numerous challenges faced.

Not minding the obstacles ahead, Dangote promised that the management would continue to create sustainable value for all stakeholders through an inclusive approach to growth and development, with continuous engagement with all parties, to enable the company make a positive impact, support poverty eradication and food security, infrastructure development, empowerment for members of the immediate communities, and the society at large.

In her remarks, the Coordinator of the Pragmatic Shareholders Association, Mrs. Adebisi Bakare expressed the satisfaction of shareholders with the performance of the company, noting that despite all the encumbrances in the sugar sub-sector of the economy, the company still performed far and above the previous year.

She urged the board and the management to continue in the direction they have taken to get the company to the current winning, assuring that the management has the support of the shareholders to post even better performance in the coming years

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Adnan Mukhtar & Associates,Gwarzo Foundation to Host Annual Public Lecture on Social Media’s Role in Nation-Building

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Adnan Mukhtar & Associates, in collaboration with the Professor Adamu Abubakar Gwarzo Foundation, is set to host a one-day Professor Adamu Abubakar Gwarzo Annual Public Lecture. This year’s theme is “The Role of Social Media in Nation-Building,” in commemoration of the birthday of Professor Adamu Abubakar Gwarzo, the President of MAAUN Group of Universities.

The event is scheduled for Monday, December 30, 2024, at 11:00 AM and will be held at the Aminu Kano Centre for Democratic Research and Training, Mambayya House.

The guest speaker for the lecture will be Mallam Yushau A. Shuaib, a renowned public relations expert and social media influencer. The occasion will be chaired by Dr. Sule Yau Sule from the Department of Mass Communication at Bayero University, Kano.

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Invited guests include distinguished personalities such as Dr. Musa Abdullahi Sufi, Dr. Bala Muhammad Tukur, and Amina Ibrahim Idris.

The lecture aims to explore the significant impact of social media on nation-building, emphasizing how digital platforms can be harnessed to foster unity, drive development, and promote positive change within communities.

This annual lecture is a key event that brings together scholars, practitioners, and the general public to engage in insightful discussions and share ideas on leveraging social media for societal advancement.

For further information or to confirm attendance, please contact the organizers at 08033255841 or 09098150869.

 

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BIKOBA Prepares for AGM with Lecture on Youth Opportunities in Innovative Agriculture

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Arrangements have been concluded for the successful conduct of the Annual General Meeting (AGM) of the Birnin-Kudu Old Boys Association (BIKOBA), the umbrella association of the Old Students of Government Unity College, Birnin Kudu, Jigawa State—one of the famous secondary schools/colleges in Northern Nigeria.

The occasion, scheduled to take place on Sunday, December 29, 2024, at 9:00 AM at the Murtala Mohammed Library Hall along Ahmadu Bello Way, Kano, will feature a public lecture to be delivered by Prof. Ibrahim Baba Mohammed, a distinguished agronomist with the Faculty of Agriculture, Bayero University, Kano. The lecture, titled “Unlocking Opportunities for Youths in Innovative Agriculture: A Focus on Kano and Jigawa States in Northern Nigeria,” aims to attract and stimulate students to engage in modern farming activities at an early age, with a view to tapping the untapped agricultural potential in abundance in the region for food sufficiency, security, and economic gains.

Alhaji Basiru Mohammed Sanusi, the Galadiman Dutse, will chair the occasion, with Governor Malam Umar Namadi of Jigawa State and Senator Mustafa Habeeb as Guests of Honor, while former Governors of Kano and Jigawa States, Dr. Abdullahi Umar Ganduje and Alhaji Sule Lamido, will serve as Special Guests of Honor. The National President of BIKOBA, Alhaji Ja’afar Usman Muhammad (Turakin Gaya), will be the Chief Host of the event.

Major highlights of the AGM include the election of new executive committee members of the association and the presentation of an audited account report containing the financial statement of the association for subsequent ratification and approval by the general assembly members.

The occasion will also feature the launch of a book written by a member of the Class of ’86 Chapter about the history of Government Unity College Birnin-Kudu and its contributions to the development of the education sector in the Northern region and beyond.

In a statement by National Publicity Secretary Mahmud Ibrahim Kwari, he said government officials, former and serving senators, House of Representatives members, former ministers, serving and former commissioners and members of state legislatures, officials from traditional institutions, as well as members and friends of the BIKOBA family, are expected to fully attend this historic annual event.

 

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60% of Christmas Celebrations Observed by Non-Christians in Kano

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By Salisu Baso

An investigation carried out by independent journalist Salisu Baso has observed that about 60% of this year’s Christmas celebrations have been observed by the non-Christian community in Kano.

This year’s celebration has witnessed serious economic challenges, and the majority of Nigerians are managing to survive. Therefore, the Christian community has managed to conduct the occasion with the little earnings from their collective businesses, especially those at various markets in the state.

Investigations also learned that the delay in payment of government salaries to workers in the state has crippled the ceremonial activities, leading to low patronage in the markets.

The tradition of slaughtering goats by the celebrants has drastically dropped, and the presentation of gifts from well-meaning individuals house to house is also seeing a decline.

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Visiting the Sabon Gari area, our source observed that the majority of the beer parlors in the evening hours were full of visitors, while New Road by Court Road, especially Ado Bayero Square, was occupied by a majority of youth celebrating the day.

When contacted, a traditional Igbo Chief, Amb. (Dr.) David N. Onwere, described this year’s celebration as manageable for Nigerians to celebrate the great events as a result of the critical economic conditions facing the nation. He said the majority of people in the state have not traveled to their respective areas due to the high cost of transport fees.

Chief Onwere then congratulated the entire Christian community in the country, particularly in Kano, and wished them a Happy New Year in advance.

 

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