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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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Breaking:Former Chief Justice Of Nigeria Ibrahim Tanko Is Dead

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Former Chief Justice of Nigeria (CJN), Justice Ibrahim Tanko Muhammad (retd.), is dead.

A close source confirmed to SaharaReporters on Tuesday morning that the former head of Nigerian judiciary passed away at a hospital in Saudi Arabia.

“Ex-CJN Tanko Muhammad is dead. He passed away this morning at a Saudi Arabian Hospital,” the source said.

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Nigeria Tracker reports that Late President Muhammadu Buhari appointed late Justice Ibrahim Tanko into the exalted seat after the sacking of his predecessor Justice Samuel Walter Onnoghen over the issue of code of conduct in January 2019.

In Late 2022 Justice Ibrahim Tanko suddenly exited the seat due to what many said intense pressure from cabals in Late President Muhammad Buhari’s presidency and was succeeded by retired Justice olukayode .

Late Justice Ibrahim Tanko Muhammad hails from Bauchi state .

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The Aso Rock Gossip That Made Late President Buhari Lock His Wife Out

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By Yusuf Danjuma Yunusa

In a new biography, former First Lady Aisha Buhari has revealed that late President Muhammadu Buhari began locking his bedroom door, preventing her from gaining access, after hearing rumors within Aso Rock that she intended to kill him.

This personal account is featured in the 600-page book, ‘From Soldier to Statesman: The Legacy of Muhammadu Buhari’, where Aisha Buhari details her experience managing her husband’s health challenges during his presidency.

She stated that the former president, trusting the gossip circulating within the presidential villa, altered some of his personal habits as a result.

The biography, which was authored by Charles Omole, director-general of the Institute for Police and Security Policy Research, was launched at the presidential villa in Abuja.

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Many high-profile persons and political chieftains, including President Bola Tinubu, attended the launch.

In the book, Aisha said Buhari’s 2017 health crisis was not a mysterious ailment or the effect of poisoning, but began after a broken feeding routine and mismanaged nutritional habits.

The former first lady said she had long managed her husband’s meals and supplements at specific hours, adding that the regimen helped Buhari to maintain stability.

“According to Aisha Buhari, her husband’s 2017 health crisis did not originate as a mysterious ailment or a covert plot. It started, she says, with the loss of a routine; ‘my nutrition,’ she describes it, a pattern of meals and supplements she had long overseen in Kaduna before they moved into Aso Villa,” the book reads.

When they moved to the villa, she said she convened a meeting with close staff including Suhayb Rafindadi, the physician; Bashir Abubakar, the chief security officer; the housekeeper, and the DSS DG to explain the plan.

After some time, the plan was discontinued.

“When the Presidency’s machinery took over our private lives, I explained the plan: daily, at specific hours, cups and bowls with tailored vitamin powders and oil, a touch of protein here, a change to cereals there. Elderly bodies require gentle, consistent support,” Aisha was quoted as saying in the book.

“Then came the gossip and the fearmongering. They said I wanted to kill him.

“My husband believed them for a week or so,” she said, adding that the president began locking his room, changed small habits, and crucially, “meals were delayed or missed; the supplements were stopped”.

“For a year, he did not have lunch. They mismanaged his meals,” she added.

Aisha denied stories of plots to poison her husband, adding that Buhari’s health began deteriorating because of “loss of a routine, ‘my nutrition,’ was the genesis of the crisis”.

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Former Kano LG Chairmen Endorse Tinubu, Reaffirm Loyalty to Ganduje as Kano APC Leader

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‎Former local government chairmen in Kano State who served between 2014 and 2024 under the administration of Dr. Abdullahi Umar Ganduje has endorsed President Bola Ahmed Tinubu for a second term and reaffirmed their loyalty to the immediate past National Chairman of the All Progressives Congress (APC), Dr. Ganduje, as the party’s leader in Kano State.

‎The former Chairman of the Association of Local Governments of Nigeria (ALGON) in the state, Baffa Takai, made this position known during a closed-door meeting with Kano APC stakeholders in Abuja.

‎‎The former local government chairmen also expressed their solidarity with APC stakeholders under the leadership of Hon. Abubakar Kabir Bichi, commending their efforts toward promoting unity and progress within the party.

‎They called on other party members to join hands with them in fostering peace, unity, and progress within the APC.

‎The group further reaffirmed its commitment to the party’s ideals and principles and pledged to continue working collectively to strengthen the party and ensure its victory in future elections.

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