Connect with us

News

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

Published

on

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.

Advert

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

News

Nigeria, Türkiye Strike Defence Deal for Major Military Training Facility to Boost Security

Published

on

 

By Yusuf Danjuma Yunusa

Nigeria and Türkiye have agreed to establish a major military training facility in Nigeria as part of a defence partnership aimed at strengthening the country’s security architecture.

The agreement was reached during bilateral talks between Nigeria’s Minister of Defence, Christopher Musa, and his Turkish counterpart, Yasar Guler, on the sidelines of the Antalya Diplomacy Forum 2026.

According to a statement on Sunday by the Ministry of Defence’s Chief Information Officer, Queeneth Iheoma-Hart, the planned training centre will serve as a long-term hub for capacity development, with Nigeria already identifying a suitable coastal location for the permanent facility.

She said a temporary site is also expected to be provided to kick-start operations.

Advert

Under the arrangement, Nigerian Armed Forces personnel will undergo specialised training in areas such as Special Forces operations, counterterrorism, intelligence integration, counter-drone and counter-IED operations, as well as United Nations pre-deployment exercises.

The statement partly read, “The Minister of Defence, General Christopher Gwabin Musa (retd.), led a high-level Nigerian delegation to productive bilateral talks with the Turkish Minister of Defence at the Antalya Diplomacy Forum 2026.

“The delegation included the Chief of the Air Staff, the Chargé d’Affaires of the Nigerian Embassy, the Defence Adviser and senior officials from the Ministry of Defence and the Nigerian Embassy in Türkiye.

“Training and capacity development: Türkiye proposed structured, scalable training programmes for Nigerian Armed Forces in areas including Special Forces operations, counterterrorism, intelligence integration, counter-drone and counter-IED operations, and UN pre-deployment training.

“Immediate deployment of an initial cohort to Türkiye was agreed, alongside Turkish language instruction and participation in field training exercises.

“Both parties agreed to establish a major military training facility in Nigeria as a long-term centre of excellence; Nigeria will provide a temporary training site and has identified a suitable coastal location for permanent infrastructure.”

Beyond training, she said the partnership includes provisions for technology transfer, defence industry collaboration, and co-development of military capabilities.

Continue Reading

News

Ex-Governor Shekarau Joins APC for Third Time, Cites PDP’s Challenges

Published

on

 

By Yusuf Danjuma Yunusa

A former Kano State Governor, Sen. Ibrahim Shekarau, has dumped Peoples Democratic Party, PDP, for All Progressives Congress, APC.

Available records show that he is joining the party for the third time since its formation.

Mr Shekarau announced the decision while addressing supporters at his Mundubawa residence in Kano on Sunday.

Advert

The two-term former governor said that the decision followed wide consultations with his political group and after weighing so many options.

“We took the decision after wide deliberations and weighing several options which include joining the APC after realising that PDP is facing so many challenges.

“We cannot align with ADC, a party filled up with people of personal interests, a party struggling to gain its feet,” Mr Shekarau said.

He called on his supporters to formally resign their PDP membership from their wards and go to their APC leaders on how to register with the party in order to meet the deadline for registration.

Mr Shekarau is expected to communicate the date he will be leading his teeming supporters to visit his Giginyu ward in Nassarawa Local Government Area of the state to carry out his APC party membership registration.

The APC National Chairman, Nentawe Yilwatda, had, on April 8, visited Kano to plead with Shekarau to join the party and work for its victory in the 2027 general elections.

Continue Reading

News

JAMB Arrests Two, Parent over Result Falsification

Published

on

 

By Yusuf Danjuma Yunusa

The Joint Admissions and Matriculation Board has announced the arrest of two candidates and a parent for falsifying 2026 Unified Tertiary Matriculation Examination results using Artificial Intelligence and other electronic tools.

The disclosure came as the board released scores for 632,788 candidates who sat the examination on Thursday, April 16.

Advert

JAMB spokesperson, Fabian Benjamin, in a statement, said the suspects were apprehended for manipulating official SMS result notifications to fabricate or alter scores with the intent to deceive others, including parents and guardians.

“Currently, two candidates and one parent are in custody for engaging in result falsification using AI and other electronic means,” the statement read.

Benjamin warned that such conduct constituted a serious criminal offence and that the board would pursue all culpable persons to the full extent of the law.

He also cautioned candidates against tampering with result messages from JAMB’s official SMS platforms, 55019 and 66019.

Continue Reading

Trending