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Dangote Cement’s Past Consumer Promo Winners Recount Gains

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Dangote Cement Trucks Wrongfully Intercepted In Adamawa

Dangote Cement’s Past Consumer Promo Winners Recount Gains

Dangote Cement Promo: Previous Seasons’ Winners Recount Gains

-Commend Dangote for transforming their lives

By Olorunfemi Adejuyigbe

 

Dangote Cement’s Past Consumer Promo Winners Recount Gains

 

Past winners of the Dangote Cement consumer promo have commended the company’s Management for the positive economic and social impact of the promo on their livelihoods and wellbeing.

 

Some of the winners, who spoke on the impact of the cars and millions of Naira won during the previous seasons, described the promo as a big relief and a crucial palliative that lessened the negative impact of the COVID-19 pandemic which had then shut down the whole world.

 

 

 

 

 

 

More than 450 consumers had emerged either as instant millionaires or owners of brand new car prices, while others won hundreds of tricycles among other attractive prizes during Season 1 and Season 2 of the consumer promo.

 

The star winners across Nigeria who were presented with brand new saloon cars or one million naira as prizes commended the cement manufacturing giant and its Chairman, Aliko Dangote for transforming their lives for the better.

 

 

 

 

 

 

 

 

Some of the excited winners, who were contacted by telephone, recalled how they initially thought it was a dream until they were later presented with their various prizes in the full glare of the public. They said their winnings had enriched their lives and livelihoods and hailed the sincerity of Dangote Cement in handing over the cars to them.

 

A winner, Mr. Clement James of Marble Construction, Kaduna State who won a brand new car during the last Dangote Cement promo said the prize has enhanced the profitability of his business.

 

 

 

 

 

 

 

 

According to him, the car has assisted his company in marketing Dangote Cement products within and outside Kaduna. “We have been using the car to meet clients’ and customers’ needs in and around the state. This has further increased our customer base and boosted our profitability,” he stated.

 

James pointed out that the car gift showcased Dangote’s interest in human empowerment. “The truth is that the car gift has made people understand that Dangote is not only interested in making profits, but also highly interested in impacting the lives of both customers and consumers of its products.

 

 

 

 

 

 

 

“Before now, we only hear of how much Dangote contributes to empowerment and we had not experienced it personally. With the Dangote Cement promo, we were able to feel the impact directly. It now boosts the confidence of consumers on the company’s products,” he added.

 

Another past winner, Emmanuel Boye, Managing Director of Awuley Investment Limited, Abuja said the branded car prize his company won has become a source of advertisement for Dangote Cement and its products as people are now becoming more aware of these quality products.

 

 

 

 

 

 

 

 

“The prize has increased customers’ behavior in a positive way. The truth is that many people in our locality now have more confidence in us that we are selling high-quality cement products. The branded car has made customers to believe that we are not selling counterfeit re-bagged products because they have seen something to confirm that we are getting the product directly from the company’s factory. So, our sales volume has greatly improved in the past two years,” Boye added.

 

Apart from the car prizes, some other consumers especially those who won star prizes of a million naira each during the promo said they used the cash to expand their businesses.

 

 

 

 

 

 

Mr. Nsikan Emmanuel from Calabar, Cross River State who was one of the one million Naira prize winners said, “The Dangote Cement sales promotion was a nice technique that attracted consumers to purchase more of Dangote Cement, and they have thus continued to patronise the product. Dangote is the top cement company in Nigeria that produces quality cement at an affordable price.”

 

Another winner, Yahaya Isah Abdullahi from Kano State, said he used his million naira cash prize to expand his business. According to him, he now buys more bags of cement for sale rather than depend on credit grants from distributors. Abdullahi said he has more capital to run his business, all thanks to Dangote Cement and its promo.

 

 

 

 

 

 

 

For Mr. Edet Udeme of Delta State who also won one million naira, he said he used part of the money to expand his business and another part to purchase a motorcycle for customer contact and product distribution.

 

He said the motorcycle has enhanced his mobility and enabled him to reach out to more consumers of Dangote Cement products. “I want to thank Dangote Cement for impacting the lives of consumers through the cement promo. It will be good to see more of such promos in the future,” he said.

 

 

 

 

 

 

 

Speaking on the promos, Group Chief, Branding and Communications Officer, Dangote Industries Ltd, Mr. Anthony Chiejina explained that the company’s decision to launch the promos for the consumer aligns with its vision and mission to enhance the lives of the people by helping to provide their basic needs. “This strategy is in tandem with the quality of our exceptional products, in line with our brand promise”, he said.

 

According to Chiejina, “The timing of the promo, two years ago, was very strategic, as the world was feeling the pains of the COVID-19 pandemic and the management thought it was good to come to the aid of its loyal customers by rewarding them via the promo.

 

 

 

 

 

 

 

“When Dangote Cement came out with Bag of Goodies Season 2 themed Spell Dangote and Win a Million Naira promo in 2020, it had one thing in mind, which is to give back to the consumers of the product and impact as many lives as possible.

 

“Two years after the promo, the company can confidently attest to the fact that it has been able to contribute positively to the lives, wellbeing, and businesses of its consumers. The mega promo, which produced hundreds of winners across the country, assisted in mitigating the effect of the COVID-19 pandemic on consumers and dealers of Dangote Cement,” Chiejina added.

Business

PRESIDENT TINUBU CONGRATULATES DR ADEDUNTAN, AS FIRST BANK CELEBRATES EX-GROUP CEO

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PRESIDENT TINUBU CONGRATULATES DR ADEDUNTAN, AS FIRST BANK CELEBRATES EX-GROUP CEO

STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU CONGRATULATES DR ADEDUNTAN, AS FIRST BANK CELEBRATES EX-GROUP CEO

President Bola Ahmed Tinubu congratulates Dr Adesola Adeduntan, the retired Group Chief Executive Officer of First Bank Nigeria Limited, for his exceptional service at Nigeria’s oldest bank.

In celebration of Adeduntan’s remarkable tenure, the 130-year-old First Bank will host a special send-off ceremony this weekend, expressing gratitude for his contributions over the past nine years.

President Tinubu commends him for steering the bank through transformative growth, which includes expanding customer accounts from 10 million to over 42 million and elevating Profit Before Tax from N10 billion in 2015 to an impressive N300 billion in 2023.

These milestones, the President said, reflected Adeduntan’s visionary leadership and commitment to excellence.

The President expresses his appreciation for Adeduntan’s willingness to serve the nation in various pivotal roles, including his contributions to the Nigerian Economic Summit Group and other prominent institutions. His extensive expertise in the financial sector has significantly bolstered Nigeria’s economic landscape.

President Tinubu also lauds the bank’s solid internal management ethos, which is responsible for the seamless transition from Adeduntan to the current CEO, Olusegun Alebiosu.

President Tinubu wishes Dr. Adeduntan continued success in all his future endeavors.

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

November 1, 2024

 

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ZENITH BANK DELIVERS REMARKABLE TRIPPLE-DIGIT GROWTH IN GROSS EARNINGS AS PBT HITS N1.0 TRILLION IN Q3 2024  

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Zenith Bank Enhances E-Channel Services for Customers

ZENITH BANK DELIVERS REMARKABLE TRIPPLE-DIGIT GROWTH IN GROSS EARNINGS AS PBT HITS N1.0 TRILLION IN Q3 2024

 

Zenith Bank Plc has announced its unaudited results for the third quarter ended 30 September 2024, recording a remarkable triple-digit growth of 118% from N1.33 trillion reported in Q3 2023 to N2.9 trillion in Q3 2024. This performance underscores the Group’s resilience and market leadership in spite of the challenging macroeconomic environment.

 

According to the Bank’s unaudited third quarter financial results presented to the Nigerian Exchange (NGX), the triple-digit growth in the topline also led to an increase in the bottom line, as the Group recorded a 99% Year on Year (YoY) increase in profit before tax, growing from N505 billion in Q3 2023 to N1.0 trillion in Q3 2024.  Profit after tax equally grew by 91% from N434.2 billion to N827 billion in the same period.

 

The growth in the topline was driven by the expansion of both interest income and non-interest income. Interest income saw a notable 190% rise to N1.95 trillion, attributed to the high-yield environment. Non-interest income rose by 41% to N856 billion, bolstered by substantial growth in fees and commissions, which highlights the strength of Zenith Bank’s retail growth and the robust performance of its digital channels during the reporting period. The robust increase in profitability reflects the Bank’s focus on operational efficiency and strong risk management practices. Earnings per share (EPS) nearly doubled, rising to N26.34 from N13.82 in Q3 2023, underscoring Zenith Bank’s strong value creation for shareholders.

 

The Bank’s balance sheet grew significantly, with total assets growing by 49% to N30.4 trillion, largely supported by customer deposits, which rose by 42% to N21.6 trillion. This growth in deposits was broad-based across corporate and retail segments, highlighting the Bank’s deepening reach and customer loyalty. Gross loans increased by 46% to N10.3 trillion, underscoring the commitment to supporting strategic sectors in the economy.

 

Capital adequacy ratio remained strong, improving to 21.9%, well above regulatory requirements. The return on average equity (ROAE) stood at 37.8%, up from 35.1%, while return on average assets (ROAA) also improved to 4.3% as Zenith Bank maximized its asset base. Cost of funds increased to 4.3%, reflecting the broader market trend of rising interest rates, while the cost of risk was maintained at 7.3%, underscoring the Bank’s proactive approach in provisioning for credit risk. The Bank’s cost-to-income ratio rose to 39.5%, reflecting the impact of strategic investments in technology and capacity building aimed at supporting long-term growth, even as it continues to strive for greater operational efficiency.

 

Zenith Bank’s asset quality remains a cornerstone of its strength, with a non-performing loan (NPL) ratio of 4.5%, within regulatory limits. A high coverage ratio of 198.4% underscores the Bank’s disciplined approach to risk management, positioning it for resilience in the face of market volatility while supporting stable loan growth.

 

Zenith Bank remains steadfast in its commitment to sustainable growth and value creation. The Bank launched a capital raise program on August 1, 2024, consisting of a combined Rights Issue and Public Offer. This capital raise was driven by the Central Bank of Nigeria (CBN)’s recapitalization directive for commercial banks issued in March 2024. While the Bank awaits final capital verification approvals from authorities, the fundraising exercise was successful, reflecting strong confidence in Zenith Bank’s brand.

 

The additional capital will enhance the Bank’s ability to expand its product offerings, deepen its penetration in strategic sectors, boost lending to the real sector and pursue its African and global expansion plan.  In furtherance of this, the Bank in September 2024 received regulatory approval for the establishment of a Zenith Bank branch in Paris, France, which is fully operational and will enhance the Bank’s product offerings in international markets.

 

With a strengthened capital base, Zenith Bank is well-positioned to navigate the evolving economic landscape, while putting best-practice sustainability standards at the heart of its business. The Bank will also continue to prioritize opportunities that enhance stakeholder value and a strong compliance and corporate governance culture, which will reinforce the its leadership position within Nigeria’s financial sector and drive long-term growth.

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Business

IPMAN: Setting the Record Straight

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Fueling Uncertainty: Investigating Nigeria's Subsidy Removal And Dangote Refinery Debacle* By Sylvester Audu

IPMAN: Setting the Record Straight

 

The Dangote Petroleum Refinery wishes to clarify that it has not received any payments from the Independent Petroleum Marketers Association of Nigeria (IPMAN) to purchase refined petroleum products.

IPMAN: Setting the Record Straight

Although discussions are ongoing with IPMAN, it is misleading to suggest that they (IPMAN Members) are experiencing difficulties loading refined products from our Petroleum Refinery, as we currently have no direct business dealings with them. Consequently, we cannot be held responsible for any payments made to other entities.

The payment in mention has been made through the Nigerian National Petroleum Company Limited (NNPCL), and not us. In the same vein, NNPCL has neither approved, nor authorised us to release our Premium Motor Spirit (PMS) to IPMAN.

We would like to emphasise that we can meet the nation’s demand for all petroleum products, including petrol, diesel, and aviation fuel. At present, we can load 2,900 trucks per day and we have also been evacuating petroleum products by sea. We advise IPMAN to register with us and make direct payment as we have more than enough petroleum products to satisfy the needs of their members.

Furthermore, we believe it is instructive for all stakeholders to refrain from making unfounded statements in the media, as that could undermine the economic re-engineering efforts of His Excellency, President Bola Ahmed Tinubu. Conducting business through public speculation is counterproductive and unpatriotic.

In the interest of our country, we encourage all stakeholders to collaborate and heed the advice of President Tinubu, while promoting a unified approach, rather than engaging in media conflicts and needless propaganda.

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