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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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Kano Civil Servants Hail Governor Yusuf Over N20,000 Sallah Support Package

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The Joint Public Service Negotiation Council (JNC) in Kano State has commended Governor Abba Kabir Yusuf for approving the payment of a N20,000 Sallah Support Package to state civil servants on Grade Levels 01–14 ahead of the Eid-el-Kabir celebrations.

In a statement issued on Thursday, the Chairman of the JNC Kano State Council, Comrade Hashim A. Saleh, expressed appreciation to the state government for the gesture, describing it as a timely intervention aimed at easing the financial burden on workers during the festive period.

The council extended its felicitations to Governor Yusuf, the Secretary to the State Government, the Head of Civil Service, and the entire workforce in Kano State on the occasion of the Eid-el-Adha celebration.

According to the statement, the approval of the support package demonstrates the administration’s commitment to the welfare of civil servants and its recognition of their contributions to the development of the state.

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“The Joint Public Service Negotiation Council wishes to express its deepest appreciation to His Excellency, the Executive Governor of Kano State, for graciously approving the payment of N20,000 as a Sallah Support Package to state civil servants on Grade Levels 01–14,” the statement said.

The council also offered prayers for the continued success of the administration, seeking divine guidance and support for the Kano State Government and the nation as a whole.

The JNC reaffirmed its commitment to maintaining a cordial working relationship with the government through sustained engagement on issues affecting workers and the public service.

It further called on civil servants across the state to reciprocate the government’s goodwill by remaining dedicated, productive, and committed to the delivery of efficient public services.

The statement noted that a vibrant and effective civil service remains critical to achieving the development objectives of the state government and improving service delivery to citizens.

The message was signed by the Public Relations Officer of the JNC Kano State Council, Comrade Haladu Musa.This version is written in a newspaper style suitable for publication in print, online news platforms, or official government media channels.

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Kwara Governor Urges Tinubu to Raise Minimum Wage to N100,000

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By Yusuf Danjuma Yunusa

Governor AbdulRahman AbdulRazaq of Kwara State has called on President Bola Tinubu to consider increasing the national minimum wage from N70,000 to N100,000.

AbdulRazaq, who also serves as the chairman of the Nigeria Governors’ Forum (NGF), made the appeal while commending the President’s decision to remove the petrol subsidy—a move he described as courageous and politically difficult.

“Only one percent of politicians can make that tough call,” the governor said.

Speaking on the initial response to the subsidy removal, AbdulRazaq revealed that state governments had anticipated widespread protests. He said governors mobilised security agencies in preparation for possible public backlash.

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“We were expecting serious riots, because there were #EndBadGovernance protests even before then, and for lesser issues,” he explained. “We spent money and mobilised security agencies to secure the states. But on that day, nothing happened. No riot, no protest anywhere. I think the nation was shocked by the audacity of Mr. President to implement that serious policy.”

According to the governor, the removal has since yielded significant benefits. He noted that states are no longer borrowing money or issuing bonds to cover salaries and project costs.

“Today, in my own state, after paying salaries from our FAAC allocation, we are left with N100 or N200 million,” AbdulRazaq said.

He added that most states are already paying a minimum wage of N100,000—exceeding the current national statutory minimum of N70,000.

“I urge Your Excellency, let’s have a discussion on moving the minimum wage to a minimum of N100,000,” he said. “We know we will get support from you as we go ahead to implement that.”

President Tinubu had approved the increase of the minimum wage from N30,000 to N70,000 in June 2024 after signing the national minimum wage legislation into law. The law mandates a review of the wage every three years. The previous N30,000 minimum wage was signed by former President Muhammadu Buhari in 2019.

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Kano Amirul Hajj Blasts NAHCON Over Poor Treatment of Pilgrims

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By Lamara Garba

The Kano State Amirul Hajj and Emir of Gaya, Alhaji Dr. Aliyu Ibrahim Abdulkadir, has expressed deep concern over what he described as the poor treatment meted out to pilgrims from the state by the National Hajj Commission of Nigeria (NAHCON) during the ongoing 2026 Hajj exercise in the Kingdom of Saudi Arabia.

The Amirul Hajj, who spoke through his deputy, the Emir of Karaye, Alhaji Muhammadu Maharaz, made the remarks while receiving officials of NAHCON at the Kano Pilgrims Camp in Mina.

He openly complained about several challenges faced by pilgrims from the state since the commencement of the Hajj operations.

The Emir particularly lamented that Kano pilgrims were among the last batch of Nigerian pilgrims to be airlifted to Saudi Arabia, a development he said caused unnecessary hardship and anxiety for intending pilgrims from the state.

According to him, the airlift operations involving Kano pilgrims suffered repeated delays, adding that if not for the timely intervention and commitment of the Kano State Government as well as the airline handling the operation, the situation would have been worse.

He noted that the delays disrupted the movement schedule of many pilgrims and exposed them to avoidable stress during the sacred journey.

The Amirul Hajj further stated that the late arrival of Kano pilgrims to the Holy Land denied many contingents adequate time to comfortably stay and worship in Madina before proceeding to Makkah.

According to him, most contingents from Kano State barely spent 24 hours or, at most, two nights in Madina instead of the usual four or five days enjoyed by pilgrims from other states.

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He explained that the situation rushed the activities of pilgrims and made it difficult for many of them to properly observe prayers and other spiritual engagements in the holy city.

The Emir also complained bitterly about the poor quality of food served to pilgrims both in Madina and Jeddah, saying the meals provided fell below acceptable standards.

He revealed that in some instances, pilgrims were not served food at all, a situation he described as unfortunate considering the huge amount paid by pilgrims for the Hajj exercise.

The Amirul Hajj also expressed concern over the failure to issue Nusuk cards to some pilgrims, saying the development negatively affected the smooth performance of Hajj rites by the affected persons.

He disclosed that several dozens of Kano pilgrims were forced into seclusion and faced movement restrictions due to the non-issuance of the Nusuk cards, which are mandatory for access to some holy sites and Hajj services.

“At a point, some pilgrims were kept inside buses for over five hours after arriving in Makkah because they could not disembark due to the absence of Nusuk cards for some of them,” he said.

According to him, the development subjected many pilgrims, particularly women and the elderly, to severe hardship.

The Amirul Hajj said the challenges generated serious concern among pilgrims and officials from Kano State, stressing that the welfare of pilgrims should remain a top priority for all agencies involved in Hajj operations.

He therefore urged NAHCON to urgently address the problems to prevent a recurrence, especially during the return airlift of pilgrims back to Nigeria.

The Emir expressed hope that the return journey would be better organised and free from the difficulties currently being experienced by pilgrims.

Responding, the Director of Training and Research of NAHCON, Professor Abubakar Abubakar Yargawal, assured the Kano delegation that all the issues raised would be adequately addressed by the commission.

Professor Yargawal apologised for the inconveniences and operational hitches experienced during the Hajj exercise, assuring that efforts were already underway to improve services to pilgrims.

He thanked the Kano State leaders for openly informing the commission about the challenges faced by their pilgrims and commended the Kano contingent for demonstrating patience, maturity and restraint despite the difficulties encountered.

The NAHCON official further assured that the commission remained committed to ensuring the welfare, comfort and successful Hajj exercise of all Nigerian pilgrims.

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