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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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NFF Appoints Eguavoen as Interim Head Coach of Super Falcons

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By Yusuf Danjuma Yunusa

Augustine Eguavoen has been appointed the interim head coach of the Super Falcons.

The former Super Eagles head coach will lead the Falcons for their 2028 Olympic Games double-legged qualifier against Comoros in October.

Eguavoen will be assisted by Christopher Danjuma, head coach of Nasarawa Amazons, alongside a supporting cast that includes Ayisat Yusuf, a former Super Falcons defender; Olatunji Baruwa, former Super Eagles goalkeeper trainer.

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The Falcons will kick off their Olympic qualifying campaign in the second round against Comoros, with both legs taking place at the Remo Stars Stadium in Ikenne-Remo on October 9 and 13.

Nigeria had received a bye into the second round as one of the top-ranked teams, while Comoros qualified after a 30-0 aggregate victory over Sudan.

Falcons must navigate four rounds of two-legged knockout ties to secure of Africa’s two slots for the women’s football event at the Olympics. A win over Comoros will advance the team to the third round in early 2027 to face either DR Congo or Morocco.

Eguavoen will be handling women’s football team for the first time in his managerial career.

His appointment comes a few weeks after Justine Madugu was sacked as Falcons’ head coach alongside his technical crew.

The dismal follows the Falcons failure to qualify for the 2027 women’s World Cup.

The first time the team will miss the World Cup since its inception in 1991.

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Dependable political ally’ — Tinubu celebrates Abdulmumin Jibrin at 50

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President Bola Tinubu has congratulated Abdulmumin Jibrin, the member representing the Kiru/Bebeji federal constituency in the house of representatives, on his 50th birthday.

In a statement issued on Tuesday by Bayo Onanuga, special adviser to the president on information and strategy, Tinubu described Jibrin as a dependable political ally and commended his intellectual rigour, entrepreneurial drive and commitment to public service.

The president praised Jibrin’s pursuit of knowledge, noting that his academic background at the University of Abuja, Ahmadu Bello University, Zaria, SBS Swiss Business School in Switzerland, Bayero University, Kano, and other institutions has shaped his approach to leadership and public service.

Jibrin holds two PhDs in international relations and economics, as well as an MBA from Bayero University. He also attended executive education programmes at Harvard Business School, Oxford and London Business Schools, and INSEAD in France.

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Tinubu also acknowledged Jibrin’s record in public service, including his leadership of the house committees on finance, appropriations, land transport, foreign affairs, and housing and habitat.

According to the president, the lawmaker has contributed to debates and policies on public finance, fiscal policy, infrastructure and housing.

Jibrin also served as executive director at the Federal Housing Authority (FHA).

“Abdulmumin Jibrin represents a generation of Nigerians whose pursuit of knowledge, enterprise, and public service has been driven by a desire to make a difference,” the president said

His journey from scholarship and business into national politics reflects intellectual curiosity, resilience, and a deep commitment to Nigeria.
“At 50, he has much to celebrate, but I am confident that his most consequential contributions to our nation are still ahead.”

The president wished Jibrin renewed strength, good health, wisdom and fulfilment as he marked the milestone.

He also urged him to continue using his experience and knowledge to mentor younger Nigerians, strengthen democratic institutions and contribute to the development of Kano state and Nigeria.

Jibrin rejoined the All Progressive Congress (APC) in 2025 after he was expelled from the New Nigerian People’s Party (NNPP).

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Ibrahim Little Condemns Attack on Journalists, Calls for Government Commitment to Ending Thuggery

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The gubernatorial candidate of the African Democratic Congress (ADC), Alhaji Ibrahim Ali Amin Little, has condemned the recent attack on journalists covering the All Progressives Congress (APC) rally at the Sani Abacha Stadium in Kano on Saturday

Little, in a statement signed by his Executive Assistant, Adnan Mukhtar, described the attack as unfortunate and unacceptable, calling on security agencies to demonstrate greater commitment to ending political thuggery in the state.

“Politicians are guilty of recruiting and using thugs during political rallies, and I believe this is absolutely wrong. Such actions contribute to the destruction of the future of our young people by exposing them to immoral and criminal activities.

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“It is important that we tell ourselves the truth. A government that claims to be fighting thuggery, phone snatching and drug abuse should not be seen sponsoring or encouraging thugs to attend political rallies. This is unfortunate, unacceptable and uncalled for.

“Political rallies should be platforms for presenting ideas, engaging citizens and seeking their support, rather than breeding grounds for violence and criminality.”

Little extended his sympathy to the Nigerian Union of Journalists (NUJ), the affected journalists and all other victims of the incident.

He assured the people of Kano that, if elected, his administration would have zero tolerance for political thuggery and other forms of violence, stressing that his government would prioritise the protection of lives and property and create an environment where journalists and citizens can carry out their legitimate activities without fear.

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