Business
Dangote Sugar turns preferred asset
Dangote Sugar turns preferred asset
Dangote Sugar’s strong earning is attracting strong bid for its stock, leading to a 36.21 per cent appreciation in the first half of 2023.
In 42 months, investors were richer with a 48.85 per cent capital gain between 2020 and June 31, 2023. Kasimu Garba Kurfi , managing director, APT Securities and Funds Limited attributes this to the 2022 full year and Q1- 23 results.
In its 2022 financial year, the company announced a 46.02 per cent increase in revenue to N403.24 billion from N276.05 billion. Profit before tax grew 137.72 per cent to N82.30 billion from N34.02 billion. Profit after tax increased 148.25 per cent to N54.74 billion from N22.05 billion. The company paid a huge tax of N27.56 billion, up from N11.96 billion in 2021.
Dangote Sugar also delivers good dividends which compels investors, including bargain hunters to take positions. Months before dividend payment in anticipation of cash reward, and exit later to take advantage of price appreciation. In 2022, the company announced N12, 146, 874 to its shareholders.
The uptrend in profit came amid rising costs as the cost of sales rose from N225.85 billion in 2021 to N311.28 billion in 2022. The increase in cost is due to currency depreciation, a rise in the cost of raw material importation, an uptick in distribution cost, a rise in diesel price and tax expenses.
The company, however, deployed efficient cost management strategies to tame spiralling costs. It successfully cut down selling and distribution expenses to N741 billion from N906 billion in 2021. Finance cost fell to N3.42 billion from N5.21 billion.
Fund managers expect Dangote Sugar to maintain its stellar performance for the rest of 2023. The optimism is on the back of the impressive Q1-23 result and price gain in H1-23. In Q1-23, revenue rose 8.23 per cent from N94.44 billion in Q1- 22 to N102.22 billion.
Profit before tax grew to N18.33 billion from N13.60 billion. This is in spite of an increase in finance cost to N8.05 billion from N3.50 billion. The result confirmed the effectiveness of the company’s cost containment strategies as selling and distribution expense declined to N174.56 billion from N260.81 billion in Q1-22. The cost of sale rose only marginally from N74.98 billion in Q1- 22 to N76.47 billion in Q1- 23.
Dangote Sugar’s backward integration policy is building further investor confidence in the company’s ability to successfully contain cost of raw sugar importation, and grow bottomline and returns. The company pursues its 10-year sugar development plan tenaciously. By the sugar development policy, Dangote Sugar aims to produce 1.5 million metric tonnes per annum from locally grown sugarcane.
In pursuant of the plan, the company has committed enormous resources to its Dangote Sugar Taraba Limited, Dangote Sugar Nassarawa Limited and Dangote Sugar Adamawa Limited in which it targets expanding sugar refining capacity from 3,000 tonnes per annum to 9,000 metric tonnes.
As part of the backward integration project, Dangote Sugar is poised to grow its sugar plantation from a land area of 8,700 hectares in 2022 to about 24, 200 hectares in 2030.
In the face of global economic uncertainty, the company has put in place sound risk management strategies and sustainability plans to shield investors’ capital from the vagaries of the business environment.
To assure shareholders of its culture of transparency, the company’s Board of Directors has put in place corporate governance culture that is topnotch
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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