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2023: Dangote Cement increases shareholder’s dividend by 50%, to N30 per share

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Dangote Cement Trucks Wrongfully Intercepted In Adamawa

2023: Dangote Cement increases shareholder’s dividend by 50%, to N30 per share

sales from African subsidiaries rose by 12.7%

 

 

 

In line with the promise of Chairman, Dangote Cement, Aliko Dangote at the company’s 2022 Annual General Meeting (AGM), of an enhanced return on Investments to all the shareholders and other stakeholders in Dangote Cement, Plc, the company’s Management for the year ended December 31, 2023, has proposed an increase in the dividend payout to the shareholders, by 50 percent, to N30 per share.

The proposed increase in dividend is subject to ratification by the shareholders at the forthcoming, AGM. Proposing a dividend of N30 per share at a period when many firms are declaring losses is an indication of the resilience of Dangote Cement and the prospects it holds for investors.

A breakdown of the results indicated that Africa’s largest cement manufacturer recorded improvement in all performance measurement indicators with group revenue rising by 36.4 percent to ₦2,208.1 billion while Profit after tax (PAT) was up by 19.2 percent to ₦455.6 billion. Earnings per share went up by 18.8 percent at ₦26.47.

Dangote Cement is garnering more market share across the continent with pan-Africa volumes going up by 12.7 percent to 11.3Mt.

Group Managing Director, Dangote Cement, Arvind Pathak speaking on the results said “This positive full-year outcome is a combination of the strength in the diversity of our operations across Africa and our sustained drive to contain cost amidst an accelerating inflationary environment. The Group achieved double-digit growth in revenue at ₦2,208.1 billion, while Group EBITDA reached a record high, increasing 25.1 percent to ₦886.0 billion.

Despite the challenging macroeconomic conditions, 2023 was yet another testament to the effectiveness of our diversification strategy. Our diverse operations acted as a cushion, providing resilience to country-specific risks. Pan-African volumes were up 12.7 percent and now account for 41.2 percent of Group volume. Consequently, pan-African revenue increased by a record 123.2 percent to ₦925.9 billion, while EBITDA surged by over four-fold to ₦263.7 billion.”

He added, “In response to the heightened inflationary environment, we implemented new and innovative business strategies that helped to drive up revenues, contain costs, and protect margins. These initiatives included fuel mix optimisation, propelling the use of alternative fuels to replace more expensive fossil fuels. We also began the phased transition from diesel power trucks to full Compressed Natural Gas (CNG) trucks.

Looking ahead, following the commissioning of our 0.45Mta grinding plant in Takoradi, we are focusing on our “export to import” strategy in West and Central Africa, while concurrently optimising assets in Eastern Africa. Our strategy remains centered on enhancing our value proposition through the production of high-quality cement and delivering sustainable value to our stakeholders.”

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FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS

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FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS

 

The Chief Press Secretary (CPS) to the Chairman of the Independent National Electoral Commission (INEC), Mr. Adedayo Oketola, has said that a purported X (formerly Twitter) account attributed to the Commission’s Chairman, Prof. Joash Ojo Amupitan, SAN, is fake and part of a coordinated disinformation campaign.

 

In a public statement issued on Monday in Abuja, Mr. Oketola disclosed that a comprehensive, multi-layered forensic investigation conducted by independent cybersecurity experts has conclusively established that the INEC Chairman does not operate any personal X account.

 

He said, “The Independent National Electoral Commission (INEC) , committed to a full forensic investigation, commissioned an independent forensic cybersecurity expert, who conducted a multi-layered forensic and digital investigation using X platform data, internet archive records, OSINT tools, identity forensics and cross-platform analysis.”

 

Oketola stressed that all posts, replies, and screenshots linking him to the handle @joashamupitan are fraudulent, forensically unverifiable, and technically impossible.

 

The controversy began on April 10, 2026, when viral social media posts alleged that the Chairman made a partisan comment — “Victory is sure” — in response to another user, supported by screenshots and purported digital records.

 

However, the CPS said the forensic investigation uncovered clear evidence of fabrication and impersonation, highlighting the following key findings:

 

· No Digital Linkage: There is no connection between the disputed X account and Prof. Amupitan’s verified email addresses or phone numbers, as multiple recovery and verification attempts failed to establish any link.

 

· False BVN/OPay Claims: Data used to suggest ownership of the account only confirms identity and does not establish control of any social media handle, making such claims a logical fallacy.

 

· Timestamp Manipulation: The alleged reply “Victory is sure” was posted 13 minutes before the original tweet it responded to—an occurrence that is technically impossible and definitive proof of fabrication.

 

· No Historical Record: Searches on the Internet Archive’s Wayback Machine showed zero evidence of the account or its alleged activity prior to April 2026.

 

· Non-Existence on X Platform: Live checks confirmed that the alleged reply does not exist and has never existed on the platform.

 

· Account Renaming Pattern: On the same day the screenshots went viral, the account was renamed @sundayvibe00, set to private, and labelled a “parody account,” indicating deliberate impersonation and damage control.

 

· Coordinated Multi-Platform Impersonation: At least seven fake accounts across Facebook and Instagram using the Chairman’s identity were identified, pointing to a sustained disinformation effort.

 

“The forensic evidence is comprehensive, multi-sourced, and unambiguous. The posts attributed to Prof. Joash Ojo Amupitan on X are fabricated. The account is a clear case of impersonation,” Mr. Oketola said.

 

Quoting one of the independent investigators, he described the development as “a coordinated digital impersonation and disinformation campaign,” warning that advances in artificial intelligence had made it easier to fabricate misleading content.

 

He urged the public to avoid sharing unverified information, noting that “the fact that content goes viral does not make it authentic,” and called on media organisations to prioritise accuracy over speed.

 

Mr. Oketola said the independent forensic report had been referred to the law enforcement agencies for necessary action. He also appealed to law enforcement agencies to investigate the origin of the fake account and prosecute those responsible under the Cybercrimes (Prohibition, Prevention, etc.) Act.

 

He said, “Media organisations, in particular, have a duty to apply strict forensic verification standards to social media posts and screenshots before publishing them, especially when such content implicates public officials or carries serious consequences for public trust and institutional credibility. Accuracy, not speed, must guide reporting in matters of this nature.”

 

He reiterated that all official communications from INEC are disseminated exclusively through its verified platforms, including its website (www.inecnigeria.org), verified X account (@inecnigeria), official Facebook page, online news portal (www.inecnews.com), formal press statements from its headquarters in Abuja, and official media briefings. Any account purporting to represent the INEC Chairman in a personal capacity, he said, should be treated as fraudulent unless formally verified by the Commission.

 

FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS

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How FirstBank is investing in Its People and Building Future Leaders

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FirstBank Set to Launch Tailored Financial Services for Blind and Physically Challenged Customers  

How FirstBank is investing in Its People and Building Future Leaders

For an average 9-5er, having a job isn’t enough. You want a career that grows with you, gives you stability, and opens doors to bigger opportunities. People everywhere are looking for workplaces that don’t just pay salaries but actually invest in their staff, helping them learn, lead, and succeed.

That’s exactly what FirstBank is doing. The Bank is building a future where every employee has the opportunity to grow, lead, and thrive. Through its human capital management and development agenda, FirstBank is creating numerous pathways for staff to transform their careers and become tomorrow’s leaders.

Conversion Programme: Turning Opportunities Into Careers

Needless to say that there is no desire for the 9-5er to remain in a temporary role when they can secure a full-time career. With FirstBank’s Conversion Programme, eligible non-core employees who have served for at least one year can transition into permanent positions. This initiative ensures that hardworking staff are rewarded with stability, growth, and the chance to contribute more meaningfully to the Bank’s success.

Leadership Programmes: Grooming the Next Generation

FirstBank has designed three flagship programmes to identify and nurture high-potential talents:

  • FirstBank Management Associate Programme (FMAP): A 24-month fast-track initiative that grooms future middle managers. Upon completion, participants are promoted to Assistant Manager grade, regardless of their previous grade.
  • Leadership Acceleration Programme (LAP): Focused on preparing internal middle-management talents for leadership responsibilities, ensuring the Bank’s succession pipeline remains strong.
  • Senior Management Development Programme (SMDP): A programme for senior managers who are proven leaders in their functions and critical to the Bank’s succession plan.

These programmes are not just training—they are career accelerators, designed to put staff on the fast lane to leadership.

FirstAcademy: Learning With Global Standards

Backing these initiatives is FirstAcademy, FirstBank’s corporate university, accredited by the Chartered Institute of Bankers of Nigeria (CIBN).

Staff also benefit from partnerships with institutions like Rome Business School and Association of Chartered Certified Accountants (ACCA), gaining access to world-class training—often at discounted rates

A Workplace That Values People

FirstBank’s parent company, First HoldCo PLC, was named second in the Best Workplaces in Financial Services in Nigeria. The Bank remains firmly committed to responsible employment practices, ensuring that all colleagues are treated with dignity, fairness, and respect.

The Future Is Human

With these initiatives, FirstBank is showing that its greatest investment is its people. By empowering staff through various growth opportunities, the Bank is not just building a workforce, it is cultivating leaders who will shape the future of banking in Nigeria and beyond.

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FirstBank Partners Ekiti State Government on Launch of Innovation Enterprise Support Fund

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FirstBank Partners Ekiti State Government on Launch of Innovation Enterprise Support Fund

 

Lagos, 10 April 2025 – FirstBank, West Africa’s premier financial institution and the leading financial inclusion service provider, is proud to announce its partnership with the Ekiti State Government in launching the Innovation Enterprise Support Fund, a groundbreaking initiative designed to empower startups, scale tech-enabled businesses, and accelerate innovation-driven economic growth across the state.

 

The programme provides funding, mentorship, and market access to high-potential enterprises, with a focus on strengthening Ekiti’s innovation ecosystem, creating jobs, and supporting youth, women, and underserved communities. Notably, at least 40 percent of the fund has been reserved for female-led enterprises.

 

The Innovation Enterprise Support Fund Initiative is structured as a three-phase programme covering ideation, pre-acceleration, and acceleration for about 60 startups. Each enterprise will receive financial support ranging from ₦150,000 to ₦1,200,000, enabling job creation, revenue generation, and market-ready product launches.

 

Speaking on the partnership, the Managing Director/Chief Executive Officer, FirstBank Group, Olusegun Alebiosu, said “Entrepreneurship and Innovation are two of our core values at FirstBank. We believe MSMEs are enablers of economic growth and for 132 years, we have stood beside Nigerian businesses through every phase of growth, transition and transformation. We have remained committed to building stronger business through improved access to finance and capacity building; we created the SME Connect Platform to serve as a digital hub where Nigerian entrepreneurs find the resources to move from vision to value. We are excited about this partnership, and we see more than startups. We see future industry leaders, employers of labour, and perhaps our next big partners.”

 

 

 

The partnership aligns with FirstBank’s longstanding commitment to financial inclusion, SME development, and youth empowerment, with an emphasis on supporting women entrepreneurs, who represent 35% of Nigeria’s startup cohort.

 

FirstBank has been a consistent promoter and supporter of the innovation ecosystem and SMEs in Nigeria, providing notable interventions to help them scale their platforms and businesses. The Bank has designed multiple digital platforms for its SME customers to leverage on for business growth and expansion.

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