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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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Sen. Kalu Admits Selling Heavy Weapons to Any Buyer

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By Yusuf Danjuma Yunusa

The Senator representing Abia North, Orji Kalu, has disclosed that he previously traded in heavy weapons internationally, saying he sold arms to buyers who could afford them before abandoning the business at his parents’ insistence.

Kalu made the disclosure during an interview on Arise Television on Monday, while discussing his longstanding relationships with former and current South African leaders.

The former Abia State governor said his business interests previously extended beyond Nigeria, adding that he dealt in heavy weapons sold from one country to another.

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When asked by the interviewer whether he was an arms dealer, Kalu responded, “Yes, so I stopped because my…”

Explaining why he abandoned the business, he said his parents asked him to quit.

“But my parents, my mother, my father came and said I must stop, and I stopped,” he said.

Asked whether he sold weapons to people who intended to use them to kill others, Kalu dismissed the suggestion, insisting that his interest was making money.

“No, no, no, no, no, no. I was selling guns to make money, whether they blow up it’s not my business,” he said.

The interviewer subsequently asked whether he supplied weapons to the African National Congress during the struggle against apartheid in South Africa.

Kalu denied selling exclusively to the ANC, saying his customers included anyone willing to pay for the weapons.

“No, I was selling to anybody who wants to buy. If you have the money, you want to buy in D.R.C, I sell to you, you want to buy in Namibia, you want to buy…” he said.

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NDC Deputy Governorship Candidate Gives Kano Information Commissioner 48-Hour Ultimatum Over Alleged Defamation

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Mustapha Rabiu Kwankwaso, the Nigeria Democratic Congress (NDC) Deputy Governorship Candidate in Kano State, has threatened legal action against the newly appointed Commissioner for Information, accusing him of making false, malicious and damaging allegations against his person and family.

Kwankwaso, a former Kano State Commissioner for Youth and Sports, gave the Information Commissioner a 48-hour ultimatum to withdraw the alleged defamatory statements and tender an unreserved public apology to him, his family and the people of Kano State.

The former commissioner made the demand in a statement issued in response to comments allegedly made by the Information Commissioner during a programme, in which he accused Kwankwaso of having visited several rehabilitation centres across the world and suggested that his personal circumstances influenced his father, former Governor Rabiu Musa Kwankwaso, to establish the Kiru Reformatory Institute.

Kwankwaso described the allegations as false, malicious and an attempt to assassinate his character, insisting that they were intended to distract the people of Kano State from pressing issues of governance.

On the establishment of the Kiru Reformatory Institute, the NDC deputy governorship candidate maintained that the claim that the institution was established because of him was historically inaccurate.

He explained that during his father’s second tenure as governor of Kano State, when the institute was established, he was residing in Dubai and was not even in the country.

According to him, the Kiru Reformatory Institute was established as a deliberate government policy aimed at reforming, rehabilitating and reintegrating young people into society by providing them with opportunities for a better future.

Kwankwaso argued that reducing the establishment of the institution to a personal family matter was an insult to the people of Kano State and thousands of young people whose lives had reportedly been transformed through the initiative.

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Reacting to allegations that his father did not trust him with the management of Skyline University, Mewar University or his farm, Kwankwaso dismissed the claims as lies.

He said his father had mentored and trained him to become an independent person rather than someone who depended on family connections or financial handouts.

The former commissioner further disclosed that he had established several businesses through personal effort, including a rice mill which, according to him, provides employment opportunities for people and contributes to Kano State’s economy.

He maintained that his business achievements were products of hard work, discipline and the values instilled in him by his father, insisting that the suggestion that his father did not trust him was unfounded.

On his previous appointment as Commissioner for Youth and Sports under the Kano State Government, Kwankwaso expressed appreciation to Governor Abba Kabir Yusuf for giving him the opportunity to serve in the State Executive Council.

He said he discharged his responsibilities with sincerity, commitment and loyalty to the people of Kano State, particularly the youth population.

Kwankwaso, however, condemned the Information Commissioner’s alleged description of his appointment as “executive rehabilitation,” arguing that the remark was an insult to the office he occupied and the responsibilities he discharged.

He insisted that his appointment was based on the responsibility to serve the state and not an attempt to rehabilitate him, adding that such comments also undermined the dignity of the State Executive Council and the youths he represented.

The NDC chieftain also questioned the responsibility of the newly appointed Information Commissioner, asking whether he was appointed to communicate government policies, programmes and achievements to the public or to engage in personal attacks against political opponents.

He further challenged the commissioner to clarify whether the allegations were his personal invention or whether he was acting on behalf of his principal.

Kwankwaso maintained that the office of the Commissioner for Information was an important public institution that should be used to inform citizens about government activities rather than serve as a platform for character assassination, personal insults and political attacks.

He warned that failure to withdraw the alleged statements and issue the demanded apology within 48 hours would leave him with no option but to seek legal redress.

The former commissioner said he was prepared to pursue every available legal remedy to protect his reputation, his family’s name and his record of public service.

He added that he would not allow himself to be drawn into personal insults, stressing that his attention remained focused on his political aspiration and efforts to contribute to a better future for Kano State.

Kwankwaso concluded by urging political actors to focus on issues, policies, programmes and performance rather than resorting to allegations bordering on the personal character of political opponents.

The Information Commissioner was accused of making the allegations, but his response to Kwankwaso’s 48-hour ultimatum was not contained in the statement.

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HFN Threatens Kano Govt with Fine, Over Pillars’ Absence from Handball Premier League

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The management of the Handball Federation of Nigeria (HFN) is set to fine the Kano State Government following the absence of the state’s contingent from the 2026 Ardova Handball Premier League.

The 2026 Ardova Handball Premier League, organised by the Handball Federation of Nigeria, is scheduled to run from November 7 to 21, 2026, in Lagos State. The competition features 12 teams in the men’s category and 10 teams in the women’s category.

Reports indicate that former champions Kano Pillars Handball Club failed to participate in the tournament, which commenced on November 7, due to a lack of funding from the Kano State Government to sponsor the team’s participation.

Credible sources disclosed that the state government had yet to release the funds required for the team’s participation, raising concerns over its commitment to the development of sports in the state.

The Kano State Sports Commission operates under the state government, with its administrative affairs overseen through the Office of the Secretary to the State Government. However, reports suggest that the commission has repeatedly faced difficulties in securing the necessary approvals to carry out its responsibilities.

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Kano Pillars Handball Club is one of Nigeria’s most successful handball teams, having previously won the Nigerian Men’s Handball Premier League in 2019 at the Rowe Park Sports Centre in Lagos.

The club also emerged champions in 2021 after winning nine of its 11 matches. In 2022, it successfully defended its title, finishing the campaign unbeaten with 65 points from 22 matches.

These achievements underline Kano Pillars’ status as one of the country’s leading handball clubs.

However, the alleged failure of the Kano State Government to release the necessary funds has prevented the team from participating in the ongoing competition in Lagos.

In a related development, an exclusive report published this week indicated that Kano Pillars could be heading for another major setback, as Technical Adviser Daniel Ogunmodede is reportedly considering leaving the club over financial challenges and poor welfare conditions.

Sources also disclosed that the Kano State Government had not released any funds to the team.

Efforts to obtain comments from relevant government officials, including the Secretary to the State Government, the Sports Commission and the Governor’s spokesperson, were unsuccessful, as they could not be reached at the time of filing this report.

The situation raises serious questions among sports stakeholders and Kano sports enthusiasts about the government’s commitment to supporting and sustaining sporting activities in the state.

Meanwhile, the 36 states of the federation and the Federal Capital Territory are preparing for the 23rd National Sports Festival, officially tagged the Coal City Games, scheduled to take place in Enugu State from November 27 to December 11, 2026.

With the National Sports Festival approaching, concerns remain over whether the Kano State Government will address the funding challenges facing its sports sector to avoid another disappointing absence from an important national sporting event.

The big question remains: How long will Kano’s sporting activities continue to suffer from inadequate government support? Time will tell.

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