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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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Lion Oshiyemi Pledges redefinition, reposition as he emerges 20th President of OGUNCCIMA

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Lion Oshiyemi Pledges redefinition, reposition as he emerges 20th President of OGUNCCIMA

Lion Niyi Oshiyemi has been invested as the 20th President of the Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA) at the Chamber’s 40th Annual General Meeting.

The investiture ceremony of the new OGUNCCIMA leadership was held on Thursday at Tunwase Hall in Ijebu Ode, Ogun State with top Chamber movement members in attendance.

The President In his acceptance speech, expressed gratitude to the immediate past President, Engr. Mike Akingbade, and the Chamber for entrusting him with the esteemed position.

He pledged to leverage available opportunities to redefine and reposition the Chamber, creating platforms to influence legislation and improve the business environment.

“I am honored to lead this prestigious organization and I promise to harness all available opportunities to redefine and reposition the chamber of commerce movement in the state”.

“I will continue to create platforms to influence legislation and other measures affecting trade, improve the business environment, and build a Nigerian economy of thriving business opportunities through networking”.

“I wish to enjoin you all who represent businesses, if you have not joined the OGUNCCIMA, please come and lend your voice to others. The bigger the network, the louder the voice and the stronger the influence”.

“Our advocacy seeks to ensure that the business community can have its voice heard on issues that are important to it”.

“I’d like to introduce to you my Presidency’s flagship project “OGUNCCIMA Secretariat”: The project is massive and requires a lot, I therefore seek your support and look forward to partnering with all stakeholders – the state government and it’s agencies (Federal and State Ministries, Departments and Agencies), development partners, the diplomatic communities, the media, and other stakeholders”, he said.

Oshiyemi also praised the founding fathers of the Chamber, saying, “I laud the vision of our founding fathers, who have laid a solid foundation for us to build upon. I am committed to taking OGUNCCIMA to greater heights and making it a beacon of hope for businesses in Ogun State.”

The Ogun State Hon. Commissioner for Industry, Trade and Investment, Hon. Adebola Sofela Emmanuel, in his keynote address said by the Permanent Secretary, Ministry of Trade and Investment, Dr. Olu Ola Aikulola, said over the years that the Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA), has not only remained a beacon of entrepreneurial excellence, but also partners in driving economic growth, fostering trade, and promoting investment opportunities in the state.

He said: “I would like to extend my heartfelt congratulations to OGUNCCIMA on this historical movement. Forty years of dedicated service to the industrial, trade, and agricultural sectors of Ogun State is no small feat”.

“Over the years, the Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA) has not only been a beacon of entrepreneurial excellence but also a pivotal partner in driving industrial growth, fostering trade, and promoting investment opportunities”.

“Today, as we elect new officers to continue this legacy of excellence, I urge all members to approach this process with a spirit of unity, fairness, and foresight. The future of our chambers and the economic well-being of our state depend on the collective wisdom and strategic vision of our leaders”.

“For us, as a government, we will continue to put in place Institutional mechanisms that will guide our various developmental programmes in all sector of the economy”, he added.

In his remarks, NACCIMA President, Dele Kelvin Oye, represented by the Director – General, Olusola Obadimu, urged the new leadership of OGUNCCIMA to reflect on the the Chambers achievements and chart the course for the future.

“Today, as we gather for the 40th Annual General Meeting and Investiture of New Executives, I want to charge the new leadership to be dedicated and build on the achievements of the past administrations”.

“On behalf of NACCIMA, I congratulate the new officers and may our shared efforts continue to bear fruit, and may new officers lead us for greater heights of success and prosperity”, he concluded.

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ASR AFRICA FLAGS OFF CONSTRUCTION OF A N280 MILLION INTEGRATED PUBLISHING HOUSE FOR BABCOCK UNIVERSITY, ILISHAN-REMO, OGUN STATE, NIGERIA

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ASR AFRICA FLAGS OFF CONSTRUCTION OF A N280 MILLION INTEGRATED PUBLISHING HOUSE FOR BABCOCK UNIVERSITY, ILISHAN-REMO, OGUN STATE, NIGERIA

ASR AFRICA FLAGS OFF CONSTRUCTION OF A N280 MILLION INTEGRATED PUBLISHING HOUSE FOR BABCOCK UNIVERSITY, ILISHAN-REMO, OGUN STATE, NIGERIA

 

 

 

 

Sahara Weekly Reports That The Abdul Samad Rabiu Africa Initiative (ASR Africa), the philanthropic initiative of the Chairman of BUA Group, Abdul Samad Rabiu (CFR, CON), has flagged off the construction of a N280 million Abdul Samad Rabiu Integrated Publishing House for Babcock University, Ilishan-Remo, Ogun State. This project will enhance the capacity of the University from basic press status to a modern, integrated publishing house to encompass publishing, print production, and other related diversified services. The one-storey building facility will serve as a laboratory and studio for training students of communications, media studies, and allied disciplines as well as other disciplines.

 

 

 

ASR AFRICA FLAGS OFF CONSTRUCTION OF A N280 MILLION INTEGRATED PUBLISHING HOUSE FOR BABCOCK UNIVERSITY, ILISHAN-REMO, OGUN STATE, NIGERIA

 

 

 

 

At the groundbreaking event, the Vice Chancellor of the University, Prof. Ademola S. Tayo, expressed satisfaction at the nomination by ASR Africa, under its Tertiary Education Grant Scheme. He added that the choice of the project was a response to the vision to take the Mass Communications Department of the University to a whole new level. According to him, the university’s vision is to produce young men and women capable of critical thinking, and problem-solvers capable of proffering innovative solutions to problems of everyday life, be it social, political, and cultural.

 

 

 

 

 

 

 

 

 

 

 

 

In his response, Dr. Ubon Udoh, the Managing Director of ASR Africa, expressed his delight at the University’s choice of establishing an Integrated Publishing House. He added that when information is appropriately applied, human society is empowered to liberate itself from limitations and attain its full potential. Dr Udoh reiterated the commitment of the Chairman of ASR Africa, Abdul Samad Rabiu to supporting quality education within the tertiary education system in Nigeria and urged the institution to focus on the sustainability of this noble project. He also reiterated the importance of cooperation and collaboration between the university and the contractor for the timely delivery of the publishing house.

 

 

 

 

 

 

 

 

 

About ASR Africa

ASR Africa is the brainchild of African Industrialist, Philanthropist, and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based, homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa.

 

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CBOs Laud Minister of Agric Kyari Over Transparent Distribution Of Fertilisers, Foodstuff Across Nigeria

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CBOs Laud Minister of Agric Kyari Over Transparent Distribution Of Fertilisers, Foodstuff Across Nigeria

CBOs Laud Minister of Agric Kyari Over Transparent Distribution Of Fertilisers, Foodstuff Across Nigeria

 

 

A network of community-based organizations (CBOs) in Nigeria, the Coalition of Ethnic Nationalities’ Rights Agenda, the South East Revival Coalition, and Progressive Yoruba Youth for Change have applauded the Minister of Agriculture and Food Security, Sen. Abubakar Kyari, for his efforts and transparency in the distribution of food, fertilisers and other farming inputs across the country.

 

CBOs Laud Minister of Agric Kyari Over Transparent Distribution Of Fertilisers, Foodstuff Across Nigeria

 

The CBOs gave the commendation at a joint press conference held in Abuja on Thursday. The conference was addressed by Mallam Yusuf Khalifa, National Coordinator of the Coalition of Ethnic Nationalities’ Rights Agenda; Dr. Eberechi Okonkwo, Convener of the South East Revival Coalition; and Comrade Olajide Olumide Adeniyi, Executive Secretary of Progressive Yoruba Youth for Change.

 

 

 

“The Minister of Agriculture and Food Security, Senator Abubakar Kyari has established a reputation for integrity and transparency in the ministry. The transparency in the distribution of food, fertilisers and other farming inputs across the country under Kyari’s stewardship is unprecedented,” the CBOs said.

 

 

 

“Senator Kyari has demonstrated a practical commitment to enhancing food security and nutrition in the country by prioritising equity and fairness in the distribution of food, fertilisers and other farming inputs.

“We salute his sense of nationalism. His fair distribution of farming inputs has laid a strong foundation for a prosperous and sustainable agricultural sector. Kyari’s tireless efforts to revolutionise the agricultural sector as well as to ensure that Nigeria becomes self-sufficient in food production is beyond patriotic.

“His exceptional leadership has made the the issue of marginalization in the distribution of food, fertilisers and other farming inputs, a thing of the past in the country. The effective utilization of resources by the Minister has proven not only instrumental to modernising the agricultural space but also to peace and harmony on farms across the nation.

“We applaud Senator Kyari for championing the emancipation of Nigerian farmers, particularly those in rural communities who previously lacked access to government-distributed food, fertilizers, and other farming supplies. Kyari’s unwavering support for women and youth in agriculture has resulted in increased distribution of food, fertilizers, and other farming inputs to more female and young farmers this year than ever before.

“This network of community-based organisations urges the beneficiaries, especially those in the rural communities, to use the supplies judiciously for the purpose they were distributed for. The government has prioritised the agricultural sector as a key driver of Nigeria’s economic growth, hence, its unwavering support of the sector. Farmers must corroborate the government’s efforts by taking advantage of its policies, programmes and interventions.

“We urge the Minister to sustain his visionary leadership, effective resource utilization, and strategic initiatives which have yielded significant progress in the agricultural sector.

“We remain committed to working alongside the Minister to strengthen the agricultural sector and achieve a prosperous, food-secure, and environmentally sustainable Nigeria.”

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