Connect with us

News

Dangote Cement’s commitment to climate change yields dividend

Published

on

 

Dangote Cement’s commitment to environmental disclosures and sustainability is yielding the desired results with Carbon Disclosure Project (CDP) raising its rating from C to B- even as it proposes a dividend of N20 per share for the year ended December 31,2021.

The CDP is an international non-profit organization based in the United Kingdom which runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.

CDP explained that it raised the rating as a result of the Company’s commitment to climate change. The upgrade clearly illustrates the progress made by Dangote Cement regarding commitment to transparency and mitigating its carbon dioxide footprint. This is one of the highest ratings in Sub-Saharan Africa and the only Nigeria company rated by CDP.

Chief Executive Officer of Dangote Cement Plc, Michel Puchercos, in his response to the development said: “We are pleased to be recognised for the progress that we are making in our environmental disclosures and sustainability. The CDP rating upgrade clearly illustrates the steps that Dangote Cement is taking in its commitment to transparency on climate and environmental issues.

According to him, the cement company is focused on making a positive difference, which is “why sustainability is at the core of every part of our business. In addition, our Alternative Fuel Project is at an advanced stage which aims to leverage waste management solutions, reduce CO2 emissions, and source material locally. This year, we co-processed 89,000 tons of waste representing a 60% increase over 2020.”

Advert

2023:Ganduje, Kwankwaso Held Secret Night Meetings

He added that Dangote Cement is focused on sound governance, saying, “we are leading the way with our commitment to sustainability and best practices.  We are driven by the goal of achieving the highest level of governance and building a sustainable brand for all stakeholders.  Transparency and consistency are at the core of every part our business culture”

In its financials for full year ended December 31, 2021, Group sales volume for Dangote Cement stood at 29.3Mt, with Nigeria accounting for 18.61Mt while operations in other countries did 10.86Mt.

Group revenue was N1,383.6 billion for the full year, made up of N993.34 billion from Nigeria while revenue from across African plants was N397.32 billion, in contrast to the group revenue of N1,034.20 billion in 2020 which constituted of N719.95 billion from Nigeria and N318.68 billion from other African operations. Dangote Cement recorded a gross profit of N538.37 billion and after-tax profit of N364.44 billion. The directors have proposed a dividend of ₦20.00 per share.

Dangote Cement became the first Nigerian listed company to report its financial results using XBRL format with the IFRS taxonomy. Adopting XBRL reporting format will strongly benefit Dangote Cement’s existing and potential investors. It represents another step in continuing efforts to modernize and enhance transparency of, and access to, companies’ disclosures.

Dangote Cement Plc is sub-Saharan Africa’s largest cement producer with an installed capacity of 45.6Mta across 10 African countries and operates a fully integrated “quarry-to-customer” business with activities covering manufacturing, sales, and distribution of cement.

 

Dangote Cement has a long-term credit rating of AA+ by GCR and Aa2.ng by Moody’s due to its market leading position, significant operational scale and strong financial profile evidenced by the company’s robust operating and net profit margins relative to regional and global peers, adequate working capital, satisfactory cash flow and low leverage.

 

Dangote Cement is a subsidiary of Dangote Industries Limited, a diversified and fully integrated conglomerate as well as a leading brand across Africa in businesses such as cement, sugar, salt, beverages, and real estate, with new multi-billion-dollar projects underway in the oil and gas, petrochemical, fertiliser and agricultural sectors

 

News

TMS Inaugurates Kano North’s 13 LG Executives and Empowers Social Media Representatives

Published

on

 

The Tinubu Maliya Shonikan (TMS) Organisation has inaugurated its local government coordinators across Kano North Senatorial District, with a pledge to strengthen grassroots mobilisation and support the All Progressives Congress (APC) ahead of future political engagements.

The inauguration ceremony, which was held on Sunday at Amani Event Centre, Nassarawa GRA, Kano, was led by the organisation’s leader, Alhaji Ibrahim Yusuf Garo, popularly known as Shonikan, alongside the Kano State Chairman of TMS, Barrister Nura Abdullahi Bagwai.

Speaking at the event, the organisers said the establishment of TMS in Kano North was motivated by the desire to support and promote programmes and political activities associated with Senator Barau I. Jibril Maliya, whom they described as having contributed significantly to the development and representation of the area.

According to the organisation, the initiative is also intended to mobilise support for the APC and strengthen its grassroots structure across Kano North and the wider Kano State.

Advert

As part of the inauguration, social media agents from 141 wards across Kano North were provided with android tablet pc and data support to enable them to effectively communicate the activities, programmes and achievements of the organisation and its political allies through digital platforms.

The leadership of TMS said the provision of the devices and monthly data support formed part of a broader strategy to establish an organised and effective digital communication network across the senatorial district.

The organisation further announced plans to introduce additional programmes and initiatives aimed at strengthening grassroots mobilisation and contributing to the success of the APC from the grassroots to the state level.

The event attracted important diginataries like MD Hadejia Jama’are River Basin Development Authority, Engr. Rabi’u Suleiman Bichi whonis the Guest Speaker if rhe Occasion, APC National Vice Chairman North West Hon. Garba Datti Mohammed, the commissioner National Assembly Service Commission Hon. Yusuf A. Yusuf Tabuka, Representative of rhe State Minister Housing and Urban Development, APC leaders, members, supporters and representatives of the organisation from across Kano North.

The organisers expressed appreciation to God for the successful and peaceful conclusion of the inauguration ceremony, describing the event as an important step towards strengthening the organisation’s structure and activities across the senatorial district.

Continue Reading

News

No Pay, No Escape: Unpacking Shehu Sani’s Account of Abuja Hospital Lock-Ins

Published

on

 

By Yusuf Danjuma Yunusa

 

The escalating cost of healthcare in Nigeria has reached a critical inflection point, with private hospitals in the Federal Capital Territory now reportedly resorting to security protocols to prevent patients from absconding at night without settling their bills. This stark reality was brought to light on Thursday by former Kaduna Central Senator, Shehu Sani.

In a post on his Facebook page, Sani described witnessing the practice firsthand during a visit to a private clinic in Abuja.

“Some Abuja private hospitals have started taking security measures to ensure that patients don’t escape at night without completely settling their bills. That’s the case when I visited one of the private clinics today,” he wrote.

While he refrained from naming the facility or detailing the specific security steps, his observation underscores a deepening national crisis where medical care is rapidly becoming a luxury, trapping families between the desperation for treatment and the burden of debt.

This practice is merely the symptom of a systemic failure where the rising costs of drugs, diagnostic scans, surgery, and hospital admission fees are pushing citizens to the brink. For many, the choice is no longer between private and public care, but between treatment and survival.

Advert

While patients suffer, health workers argue that hospitals are also struggling under the weight of economic headwinds. With inflation eroding the naira’s value, forex challenges limiting the import of medical supplies, and the removal of fuel subsidies impacting logistics and energy costs, the operational expenses for healthcare facilities have more than doubled in the last 18 months.

While on the other hand, a health practitioner, Ummee Manson, painted a stark picture of Nigeria’s healthcare burden, citing the ordeal of a fictional mother, Mama Chinedu, who had to sell her earrings and borrow money to raise ₦185,000 for her children’s malaria treatment—a bill that, despite saving the children, left the family skipping meals for weeks.

The practitioner noted that this experience mirrors the reality for millions, as it’s documented that in 2024, out‑of‑pocket spending still accounted for 58.3% of total health expenditure, meaning families directly bear the cost of drugs, tests, and hospital care.

The practitioner further warned that such high financial exposure pushes over one million Nigerians into poverty each year, since a single illness can deplete savings, create crushing debt, or force households to abandon care altogether, locking them in a relentless cycle of worsening health and economic distress.

The statistics paint a grim picture of a broken system. Recently released data from the National Bureau of Statistics (NBS) indicates that out-of-pocket spending still accounts for over 70% of total health expenditure in Nigeria. With most families lacking any form of health insurance, they are left to pay directly for services, often depleting their life savings in the process.

In response, both the Nigerian Medical Association (NMA) and various patient advocacy groups are renewing their calls for urgent government intervention. They urge the Federal Government to aggressively expand the National Health Insurance Scheme (NHIS) to cover a larger percentage of the population and to regulate the prices of essential medicines to curb exploitation.

For now, however, survival often depends on the kindness of strangers. Many Nigerians are forced to resort to crowdfunding, church donations, and social media appeals to raise funds for life-saving procedures—a precarious lifeline that is not available to everyone.

Health economists and medical professionals warn that without comprehensive reforms, the trend will only worsen, and until structural changes are made, the haunting reality remains: for millions of Nigerians, a hospital bed is a financial gamble, and the price of life is becoming too high to pay.

Continue Reading

News

Gov. Yusuf Increases Salaries of Two Varsities’ Academic and Non-Academic Staff

Published

on

 

 

Kano State Governor, Alhaji Abba Kabir Yusuf, has approved the implementation of a new salary review for Academic and Non-Academic Staff of Aliko Dangote University of Science and Technology, Wudil, and Northwest University, Kano.

The new increase in salary was adopted from the Federal Government’s new remuneration package implemented at the Federal Universities in Nigeria.

This was contained in a statement issued by the governor’s spokesman, Sunusi Bature Dawakin Tofa, on Monday.

The approval followed a report and recommendations of a committee constituted by the State Executive Council to examine and review requests by the two state-owned universities for the domestication of the new salary package.

Advert

Under the approved arrangement, the new remuneration package will take effect from January 2026, while payment will commence in September 2026.

The salary review will have a total financial implication of ₦391,847,555.24 monthly, amounting to ₦4,702,170,662.88 annually for the two universities.

For Aliko Dangote University of Science and Technology, Wudil, the monthly financial implication is ₦228,195,210.83, comprising ₦141,082,223.37 for Academic Staff under the ASUU agreement and ₦87,112,987.46 for Non-Academic Staff under SSANU.

For Northwest University, Kano, the monthly implication is ₦163,652,344.41, comprising ₦112,238,985.30 for Academic Staff and ₦51,413,359.11 for Non-Academic Staff.

The government has approved the inclusion of ₦1,567,390,220.96 in the 2026 Supplementary Budget to cover payments from September to December 2026.

Similarly, arrears covering the period from January to August 2026, amounting to ₦3,134,780,441.92, will be provided for under the 2027 Budget.

The decision, according to the committee’s report, is aimed at ensuring industrial harmony and improving the welfare of staff of the two institutions, in line with the implementation of the new remuneration package in federal universities and other state-owned universities.

Governor Yusuf also approved the consideration of Visitation Panels for the two universities and other tertiary institutions in the state, as provided by relevant laws, to strengthen accountability, administration and effective management of the institutions.

The Governor reaffirmed his administration’s commitment to improving the welfare of workers and strengthening the quality of higher education as part of its broader investment in human capital development.

 

Continue Reading

Trending