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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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Kwankwaso May Become Nigeria’s Oldest Vice-Presidential Running Mate, Says Activist

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A social media activist and Nigerian diaspora member, Usman Isiyaku, has criticised supporters of Peter Obi and Rabiu Musa Kwankwaso over what he described as double standards in their arguments about the age of presidential candidates ahead of the 2027 general elections.

Isiyaku made the remarks in a post on his verified Facebook page, where he questioned why supporters of Obi and Kwankwaso allegedly criticised former Vice-President Atiku Abubakar over his age while celebrating the possibility of Kwankwaso becoming a vice-presidential candidate at 70.

The activist argued that Kwankwaso, a former governor of Kano State and leader of the National Democratic Congress would be among the oldest politicians to contest for Nigeria’s vice-presidency if he eventually runs alongside a younger presidential candidate.

According to Isiyaku, the criticism directed at Atiku, who is 79, by supporters of Obi and Kwankwaso contrasts with their apparent willingness to support Kwankwaso, who is 70, for the same position.

He questioned the consistency of the arguments surrounding age and leadership, insisting that a 70-year-old politician should also be considered elderly by the same standards used to criticise Atiku.

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“The Obidients and Kwankwasites have built a whole campaign narrative against Atiku because he’s 79 years old. But Rabiu is 70 years old today, and they are celebrating him running for a VP at this age,” Isiyaku wrote.

“By every standard, a 70-year-old man is old. I mean, really old. Why the double standard?” he added.

Isiyaku further argued that it was unusual in Nigeria’s political history for a politician aged 70 to seek the vice-presidency alongside a younger presidential candidate, noting that previous civilian presidents generally had younger deputies.

He cited former Vice-President Namadi Sambo as an exception, explaining that Sambo was younger than former President Goodluck Jonathan by three years.

According to the activist, Sambo’s emergence as Jonathan’s running mate followed the death of former President Umaru Musa Yar’Adua in office, after which Jonathan became president and selected Sambo as his vice-president.

Isiyaku also compared Kwankwaso’s age with those of other former Nigerian vice-presidents at the time they assumed office, including Atiku Abubakar, Namadi Sambo, Yemi Osinbajo and Alex Ekwueme.

He stated that Atiku became vice-president at 52, Sambo at 49, Osinbajo at 58 and Ekwueme at 49 during the Second Republic, arguing that Kwankwaso’s possible entry into the vice-presidential race at 70 would represent a significant departure from the age profile of previous occupants of the office.

The activist maintained that political supporters should avoid using age as a weapon against their opponents, particularly when politicians they support are also advancing in age.

“Everybody will either grow old or die young. They should stop this age shaming because their VP candidate is a septuagenarian too!” he wrote.

Isiyaku’s comments come amid political discussions and alignments ahead of the 2027 general elections, with the ages, experience and suitability of prospective candidates featuring in debates among supporters of different political figures.

However, Kwankwaso’s possible emergence as a vice-presidential candidate remains a political proposition in Isiyaku’s post.

The debate highlights the continuing arguments over age, experience and political leadership in Nigeria, as supporters of different political camps assess potential candidates ahead of the next general elections.

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APC Denies Plot to Assassinate Atiku, Urges Security Agencies to Question Timi Frank

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By Yusuf Danjuma Yunusa

The All Progressives Congress Presidential Campaign Council has denied allegations that the Nigerian Government is plotting to assassinate former Vice President Atiku Abubakar, the ADC presidential candidate, and called on security agencies to invite Timi Frank to substantiate the claim.

In a statement signed by its spokesperson, Dele Alake, dated October 20, 2026, the council said:

“Our attention has been drawn to the statement by Timi Frank, a member of the African Democratic Congress, alleging that the Nigerian Government is plotting to assassinate former Vice President Atiku Abubakar, the Presidential candidate of the ADC. This is a grave allegation that Mr Frank must prove. We thus urge security agencies to invite him to substantiate the allegation, given its gravity and the urgent need to preserve life.”

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The council also rejected any involvement by the presidency or the APC Campaign Council, stating:

“We categorically reject the claim that the presidency of Nigeria or the APC Campaign Council is involved in any plot to assassinate former Vice President Atiku Abubakar or any opposition figure.”

It further dismissed as false claims that security personnel attached to Atiku had been withdrawn, saying the former vice president is protected by the police and the Department of State Security. According to the statement, President Bola Tinubu recently directed security agencies to reinforce and increase protection for all presidential, vice-presidential, governorship and deputy governorship candidates across the country.

The council said security around the ADC presidential candidate had never been compromised and that, as a former vice president, Atiku enjoys two levels of state-funded security protection, which the statement said Tinubu had increased ahead of the 2027 general elections.

It urged candidates, parties and supporters to be factual and responsible in public statements and to avoid utterances that could trigger avoidable tension, accusing Frank of “typical opposition rabble-rousing.”

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Kano Youths Condemn Lawmaker Over Alleged Mockery of Governor Yusuf

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Concerned youths of Gama Ward in Nassarawa Local Government Area of Kano State have condemned the member representing Nassarawa Local Government in the Kano State House of Assembly, Hon. Bello Ali Yusuf, over an alleged act of mockery directed at Governor Abba Kabir Yusuf.

The youths, in a gathering on Tuesday, October 20, 2026, said they were displeased with the lawmaker’s reported action of holding the ear of a live rabbit in the presence of his supporters, which they alleged was intended to ridicule the governor.

Addressing journalists during a peaceful press briefing, the youths described the incident as disrespectful to the office of the governor and contrary to the cultural values and traditions of Gama Ward and the wider Kano community.

According to the group, the alleged conduct was undemocratic and unbecoming of an elected representative, adding that public officeholders should demonstrate maturity, decorum and respect for democratic institutions in their political engagements.

The Concerned Gama Youth further expressed concern that the incident could create unnecessary political tension and undermine the prevailing peace in the state.

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They maintained that political disagreements should be handled through constructive engagement and democratic processes rather than actions they considered capable of ridiculing public officeholders.

NIGERIAN TRACKER reports that the group also reaffirmed its support for Governor Yusuf, commending his administration for what it described as people-oriented projects executed in Gama Ward and other parts of Nassarawa Local Government Area.

Specifically, the youths highlighted the construction of the road linking Gwagwarwa to Gama Hotel, describing the project as an important intervention that had improved transportation and eased movement within the community.

While addressing the press the group’s Secretary-General, Comrade Auwal Garba Gama, the road had also contributed to economic activities and improved access for residents.

The youths said the project demonstrated the governor’s commitment to infrastructure development and the welfare of residents of Gama Ward, adding that they appreciated the administration’s efforts to address the community’s needs.

Consequently, the group called on the leadership of the Kano State House of Assembly to investigate the incident and take what it described as immediate and decisive disciplinary action against Bello Ali Yusuf.

The youths argued that the alleged conduct had the potential to bring the legislature into disrepute, urging the Assembly’s leadership to ensure that elected representatives upheld the standards expected of public officeholders.

They also appealed to community leaders, political stakeholders and residents of Gama Ward to continue supporting the governor’s administration while maintaining peace and mutual respect despite political differences.

The group urged residents to remain law-abiding and avoid actions that could escalate political disagreements, while calling on them to pray for the success of the governor’s administration.

The secretary also reaffirmed the group’s solidarity with Gama Ward, Nassarawa Local Government Area and Kano State.

 

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