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FG charges Dangote Cement tax of N173.93bn for 2021; paid N97.24 billion tax in 2020  

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Aliko Dangote

 

Dangote Cement Plc has sustained its position as a leading contributor to Nigeria’s economy with a tax charge of N173.93 billion for the financial year ended 31st December 2021. According to the cement group’s audited results released on the portal of the Nigerian Exchange Ltd (NGX), the tax charge represents an increase of 78.7 per cent over N97.24 billion in 2020.

Analysis of the cement company’s financial result for the review year indicated that Group sales volume 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.

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Dangote Cement recorded a gross profit of N538.37 billion and after-tax profit of N364.44 billion while earnings per share (EPS) rose to N21.24 from N16.14.  The directors have proposed a dividend of ₦20.00 per share.

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Speaking on the results, Chief Executive Officer, Dangote Cement    Michel Puchercos said, “We are pleased to report a solid set of the results for the full year 2021. Group volumes for the year were up 13.8 percent and Group EBITDA was up 43.2 percent, to ₦684.6 billion at a 49.5 percent margin. I am delighted to report that Dangote Cement experienced its strongest year across all line items, with a record PAT of ₦364.4 billion up 32.0 percent.”

“Our business model remains robust, thanks to the prudent and flexible approach we have taken across our operations. Due to an increased focus on efficiency while meeting double-digit market growth and maintaining costs under control, Dangote Cement has and will consistently deliver superior profitability and returns to its shareholders,” he added.

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 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

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President Tinubu Declines Meeting with S’African Envoy, Directs Delegation to Foreign Affairs Minister

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By Yusuf Danjuma Yunusa

President Bola Tinubu on Monday declined to receive a special delegation from South African President, Cyril Ramaphosa, over the ongoing xenophobic attacks on Nigerians in South Africa, directing the visiting team to instead meet with the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye.

Multiple credible Presidency sources with knowledge of the development confirmed to PUNCH Online that the delegation, led by South Africa’s Minister of International Relations and Cooperation, Ronald Lamola, had sought an audience with the President after arriving in Abuja on Friday.

Instead, Tinubu instructed them to engage with Enikanolaiye, who was appointed Minister of State for Foreign Affairs in June 2026 after Ambassador Bianca Odumegwu-Ojukwu was elevated to the substantive ministerial position following the exit of Yusuf Tuggar.

The development comes amid a diplomatic row between both countries over renewed xenophobic attacks targeting Nigerians and other African nationals in South Africa, which forced the evacuation of nearly 600 Nigerians back home.

One Presidency source said, “They actually came here on Friday wanting to see the President. But there was no prior notice.

“And we said we can’t just allow you to see the President without first asking him if he is available. So we asked, and the President said they could come on Monday.

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“But when Monday came, he simply said they should go and meet the Minister of State for Foreign Affairs, Ambassador Enikanolaiye, and whatever they discuss, the Minister would come and brief him.”

A second source confirmed the President’s decision, saying, “I just confirmed it. He is not seeing them. The meeting is not happening.”

A third Presidency official added, “We don’t have that on the schedule today.”

The South African delegation reportedly remained in Abuja throughout the weekend after arriving on July 24, carrying a message from Ramaphosa.

Sources further disclosed that the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, who is attending official engagements in Addis Ababa, had advised that it was not an appropriate time for the President to personally receive the South African delegation while attacks on Nigerians and their businesses were still ongoing.

Receiving the South African delegation in Abuja, Enikanolaiye said Tinubu directed him to engage the envoys on resolving the crisis, stressing that the longstanding relationship between Nigeria and South Africa should not be undermined by attacks on African migrants.

“It is with profound pleasure that I welcome our brothers from South Africa. President Bola Ahmed Tinubu had actually asked us to meet with you and exchange views and perspectives on how to address and resolve the ongoing Afrophobic attacks in South Africa, of which Nigerians, and other citizens of Africa, have been victims,” he said.

The minister lamented the recurring attacks on Nigerians, recalling that such incidents had persisted for decades.

“We have seen a pattern emerge as early as 1995, 1998, 2006, 2015, 2016, 2019, 2021, 2024 and 2026. It is on record that from 2022 alone, 98 Nigerians have died in mob actions, in hate-related actions that we have called Afrophobia, because we found that the preponderant victims of this ugly situation are Africans and Nigerians in particular,” he said.

Enikanolaiye recalled Nigeria’s role in supporting South Africa’s liberation from apartheid and said the violence was inconsistent with the relationship both countries had built over the years.

He stressed that while Nigeria does not support criminality, anyone accused of committing offences should face due process rather than mob violence.

“If someone is, quote-unquote, a criminal for drug trafficking, there are rules, there are regulations for when they are arrested, prosecuted, and jailed.”

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APC Youths Demand Nationwide Ban on Rarara’s Songs at Party Activities

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The Coalition of APC Progressive Youths has called on the leadership of the All Progressives Congress (APC) to prohibit the use of songs by popular political singer Dauda Adamu Kahutu, popularly known as Rarara, at all party activities across the national and state levels.

The group’s National Chairman, Hon. Sadiq Ali Sango, made the call in a statement issued to journalists in Abuja on Monday.

Sango alleged that Rarara’s songs have become more detrimental than beneficial to the ruling party, accusing the singer of using abusive language and divisive messages that undermine unity within the APC.

According to him, rather than promoting harmony among party members, Rarara’s style of political music has fueled hatred and deepened internal divisions.

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He further alleged that the singer has repeatedly targeted senior party leaders and elders with insulting lyrics, describing such conduct as inconsistent with the values and principles of the APC.

The coalition also accused Rarara of sponsoring campaigns against the Deputy President of the Senate, Senator Barau I. Jibrin, claiming that the campaign encouraged some youths to launch personal attacks against the senator and make what it described as unfounded allegations against him.

The youth group condemned what it called Rarara’s “continuous politics of insults and character assassination,” warning that such actions could damage the party’s image ahead of future political contests.

Sango urged the APC National Working Committee (NWC) and other party stakeholders to immediately ban the use of Rarara’s songs at official party functions, rallies, and other political activities nationwide.

He added that the coalition would pursue all lawful and necessary measures to challenge what it described as conduct capable of causing disunity within the APC.

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Hon. Abubakar Bichi Commissions 120 Health Workers in Bichi

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The Kabir Abubakar Bichi Foundation has commissioned 120 temporary health workers who will be deployed across primary healthcare centres in Bichi Local Government Area of Kano State.

The commissioning ceremony was led by the Member representing Bichi Federal Constituency, Hon. Abubakar Kabir Abubakar, on Saturday in Bichi. The event was attended by the Kano State Commissioner for Health, Dr. Abubakar Labaran Yusuf, alongside other dignitaries.

Speaking at the event, Hon. Abubakar Kabir Abubakar announced that the Federal Government is set to establish a new teaching hospital in Bichi Local Government Area to improve healthcare delivery.

“I recently attended meetings on education and healthcare development. As you know, we have Aminu Kano Teaching Hospital, and I want to assure you that we are working closely with the Minister of Health and the Chief Medical Director of Aminu Kano Teaching Hospital to facilitate the establishment of a new teaching hospital in Bichi,” he said.

Abubakar Kabir Abubakar added that the project is receiving strong support from President Bola Ahmed Tinubu.

“We must appreciate President Bola Ahmed Tinubu for his unwavering support for the development of the healthcare sector. We are currently working towards securing the President’s final approval for the project under this year’s budget,” he said.

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Hon. Abubakar Kabir Abubakar, who also serves as the Chairman of the House Committee on Appropriations, reaffirmed his commitment to improving healthcare delivery. He disclosed that efforts are underway to upgrade Bichi General Hospital to the status of a specialist hospital in order to provide more advanced medical services and reduce pressure on major referral hospitals in Kano State.

He said “We are pleased to inform the Commissioner that we have completed the installation of equipment for the radiology department at Bichi General Hospital. The equipment includes a digital X-ray machine, 40 oxygen machines, and four dialysis machines, with an additional four dialysis machines expected soon.

“We are now awaiting the arrival of a 64-slice CT scan machine to complete the project. Once the remaining equipment arrives, we will be honoured to invite you and Governor Abba Kabir Yusuf to officially commission the upgraded facilities.

“We also plan to upgrade the surgical and operating theatre of Bichi General Hospital to meet the standards of leading hospitals across Kano State. Our goal is to strengthen healthcare delivery by reducing congestion at major referral hospitals in Kano metropolis, particularly Murtala Muhammad Specialist Hospital and Muhammad Abdullahi Wase Specialist Hospital, Nasarawa, where increasing patient numbers are placing pressure on healthcare personnel and facilities.

“As Kano’s population continues to grow, expanding and equipping secondary healthcare facilities such as Bichi General Hospital has become essential to ensuring timely access to quality healthcare for our people.”

Hon. Abubakar Kabir Abubakar also appealed to the Kano State Government to upgrade Danzabuwa and Saye Primary Healthcare Centres to General Hospitals, assuring the government of his full support in providing infrastructure and medical equipment for the facilities.

He commended the health committee, led by Professor Yusuf Muhammad, for conducting a transparent screening exercise for the newly recruited health workers.

He urged the newly commissioned workers to discharge their responsibilities with professionalism, dedication, and integrity in the service of their communities.

The lawmaker further appealed to the Kano State Government, under the leadership of Governor Abba Kabir Yusuf, to absorb the 120 temporary health workers into the state’s permanent and pensionable workforce.

He also praised Governor Yusuf for his investments in the health and education sectors, describing them as significant contributions to improving the welfare and well-being of the people of Kano State.

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