Connect with us

News

Dangote Sugar pays N18.22bn Dividends, to produce 170,000 Tonnes next season

Published

on

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.

Advert

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

News

Senate Sets Up Committee to Harmonise Electoral Act Amendments Ahead of 2027 Polls

Published

on

 

By Yusuf Danjuma Yunusa

 

The Senate has constituted a seven-member ad hoc committee to harmonise and distil senators’ inputs on the proposed amendment of the Electoral Act, as lawmakers intensify efforts to strengthen Nigeria’s electoral framework ahead of the 2027 general elections.

The decision followed a three-hour closed-door executive session held on Thursday, during which senators further scrutinised the Electoral Act (Repeal and Enactment) Bill currently before the National Assembly.

Announcing the outcome of the session, Senate President Godswill Akpabio said the committee was set up to synthesise lawmakers’ views and address outstanding concerns on the proposed amendments.
He said the panel was “mandated to contribute, galvanise and distil the opinion of senators on the bill.

“In no particular order, the committee will be led by Niyi Adegbonmire, chairman of the Senate Committee on Judiciary, Human Rights and Legal Matters,” Akpabio said.

Other members of the committee are Adamu Aliero, Aminu Tambuwal, Adams Oshiomhole, Danjuma Goje, Tony Nwoye and Titus Zam.

Akpabio added that the committee has a maximum of three days to conclude its assignment and submit its report to the Senate by Tuesday.

The Senate had on Wednesday stepped down consideration of the report on the Electoral Act amendment bill, opting instead for an executive session to allow for deeper examination of the proposed legislation.

Advert

The move followed deliberations on the report of the Senate Committee on Electoral Matters, which was presented in the absence of its chairman, Simon Lalong. Lawmakers agreed to suspend debate to give senators additional time to study the bill, citing its far-reaching implications for Nigeria’s electoral process.

Although the House of Representatives has already passed the bill, Akpabio stressed that the Senate must exercise due diligence before concurrence.

“This is a very important bill, especially as it’s election time. We must take our time to ensure justice is done to all, so that we do not end up at the tribunal,” he said.

According to the report of the Senate Committee on Electoral Matters, a clause-by-clause review indicates that the proposed amendments would strengthen electoral integrity, enhance transparency and boost public confidence in the electoral system.

The committee consequently recommended the passage of the Electoral Act (Repeal and Enactment) Bill, 2025, as amended, noting that the reforms would expand voter participation, curb electoral malpractice and strengthen the institutional capacity of the Independent National Electoral Commission.

Earlier, Senate Leader Opeyemi Bamidele outlined key components of the proposed amendments, describing the bill as a major step towards improving electoral credibility and safeguarding institutional independence.

He said the bill introduces stiffer sanctions for electoral offences such as vote-buying, including fines of up to N5m, a two-year jail term, and a 10-year ban from contesting elections.

The proposed law also prescribes tougher penalties for result falsification and obstruction of election officials, introduces electronically generated voter identification — including a downloadable voter card with a unique QR code — and mandates the electronic transmission of polling unit results.

Bamidele further disclosed that the bill recognises the voting rights of prisoners, mandates INEC to register eligible inmates, standardises delegates for indirect party primaries, and requires the release of election funds at least one year before polling day.

According to him, the reforms are aimed at guaranteeing credible, transparent and secure elections beginning with the 2027 general polls, subject to approval by at least two-thirds of state Houses of Assembly, in line with constitutional requirements.

“At the end of it all, good governance, enhanced security and the welfare of our constituents shall remain our cardinal objectives,” Bamidele said.

Continue Reading

News

Yusuf did not leave NNPP for self interest but kano state development and prosperity -NNPP

Published

on

 

The Dr Boniface Aniebonam led New Nigeria Peoples Party (NNPP) says Gov. Abba Yusuf of Kano State left the Kwankwasiya Movement and the party because of Sen. Rabiu Kwankwaso’s slavery intentions and not for selfish reasons.

The party also stated that the main betrayer in the saga is Kwankwaso, who betrayed the trust of the NNPP founder, Aniebonam and not Yusuf. All efforts made by Yusuf as the leader of NNPP for reconciliation were resisted out of arrogance and greed
.
The party was reacting to comments by Elder Buba Galadima on Yusuf’s defection.

In a statement by its National Vice Chairman Northwest, Alhaji Sani Danmasani, the party stated: “Let the relations and families of Kwankwaso and Galadima intervene before depression will catch up with them.

“This is because a critical analysis of the condition of Galadima on Arise television suggested that something may become clinically wrong.

“The cross over of Yusuf to APC is affecting Galadima’ and Kwankwaso so much that the bitterness and pain are evident in their speeches.

Advert

“Their pain is so much that it may result to depression if something urgently is not done . It is most likely that these great men are having sleepless nights.”

According to the party, what is striking in the details of Galadima’s expression during the session on Arise TV were his experiences, travelling by road from Enugu airport to Umuawulu town in Anambra, hometown of NNPP Founder, Aniebonam.

“Galadima’ said he got to Anambra by 2.a.m to meet Aniebonam for the purposes of getting a political platform for Kwankwaso and others against the 2023 general elections.

“Incidentally Yusuf who is a prime beneficiary of the risky trip to Umuawulu is the one found to have betrayed NNPP family to join their enemy, a former governor Kano state and APC stalwart, Ganduje.

“Galadima and Kwankwaso crying fowl of betrayal of trust were the same people who were favoured at no cost to use the NNPP platform to contest elections in 2023.

“They were the same people who betrayed Aniebonam, and fighting to hijack the party he founded 2001. They are still fighting to hijack the structure of the NNPP without conscience, yet calling Yusuf a betrayer.

“One begin to wonder why Kwankwaso and Buba Galadima are crying fowl and disturbing the peace of the society as if they do not know that God acts differently.”

It noted that Yusuf’s decision was a self defence , protection from modern slavery and undue interference from Kwankwaso in governance of Kano state.

The party said that rather than continue to lament over Yusuf, Kwankwaso and his group should seek the face of God and ask for forgiveness from those they betrayed.

The party noted that Kwankwaso’s influence in Kano politics has fizzled out, and will not affect Yusuf’s re-election in 2027.

Continue Reading

News

Hon. Bichi commissions Hagagawa Mega Primary School, employs additional 180 temporary Teachers

Published

on

 

Hon. Abubakar Kabir Abubakar Bichi, the member of the House of Representatives for Bichi Federal Constituency from Kano State and the chairman of the House Committee on Appropriation, has officially commissioned the reconstructed Hagagawa Mega Primary School in Bichi Local Government Area yesterday, Tuesday.

Hagagawa Primary School was established in 1930 and before the reconstruction the structure was on the verge of collapse.

In addition, the lawmaker has employed 180 more classroom teachers, who will be deployed across primary schools in Bichi Local Government.

This brings the total number of teachers employed by Hon. Bichi to 500, each earning a monthly salary of N60,000. In total, the legislator spends N₦30,000,00 monthly on teachers’ salaries, amounting to ₦360,000,000 annually.

Advert

Speaking at the Commissioning, Hon Bichi reaffirmed his commitment to building similar model schools in Danzabuwa in Bichi north, Saye in Bichi East and Ciranci communities.

Teachers and students associations across the local government commended the lawmaker during the commissioning of the school.

As part of the reconstruction, Hon. Bichi also constructed a modern mini-stadium, upgraded classrooms, a computer lab, a modern library and recreational facilities for students to enhance extracurricular activities.

The event was attended by prominent dignitaries, including Reps. Kabir Alhassan Rurum, Reps Sagir Ibrahim Koki, Repa Abdullahi Rogo, Reps. Hussaini Kero, MD Hadejia Jamare River Basin Development, Dr. Rabiu Suleiman Bichi, DG National Productivity commi, Hon. Baffa Babba, Chairman of Bichi Local Government, Hon. Hamza Maifata, and the member representing Bichi in the Kano state assembly Hon. Lawan Shehu Bichi, SUBEB Chairman Kano, Old Students, well wishers and other community leaders.

Continue Reading

Trending