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Dangote Sugar turns preferred asset

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SIX YEARS ON: DANGOTE IS STILL THE “MOST ADMIRED BRAND” IN AFRICA

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.

Dangote Sugar turns preferred asset

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

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Abbey Mortgage Bank Host Sustainability Workshop with Non-Profit Stakeholders in Abuja

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Abbey Mortgage Bank Host Sustainability Workshop with Non-Profit Stakeholders in Abuja

Abbey Mortgage Bank Host Sustainability Workshop with Non-Profit Stakeholders in Abuja

 

 

 

Geared towards boosting impactful investment opportunities for Non-profit organizations, a leading primary mortgage Bank in Nigeria, Abbey Mortgage Bank has organized a sustainable workshop for stakeholders of non-profit organizations to enhance financial sustainability and drive positive change within the civil society sector.

 

 

 

 

 

 

The event which was Tagged “Financial Management: A Sustainability Tool for Non-Profit Organizations” held on Wednesday 29th November 2023 in Abuja, is aimed at creating impactful investment opportunities to aid sustainability efforts in line with SDG 17 which supports the implementation and revitalization of Global Partnership for sustainable development in the civil society.

 

 

 

 

 

 

The workshop was attended by prominent guests including Jubril Shittu, CEO of PPDC; Dr. Ayodotun Olutola, CEO of CCCRN; Hamza Lawal, CEO of CODE; and Gideon Olanrewaju, CEO of AREAi among other guests.

 

 

Abbey Mortgage Bank Host Sustainability Workshop with Non-Profit Stakeholders in Abuja

 

 

 

 

Speaking at the event, The Group Head, Non-Profit Organizations at Abbey Mortgage Bank, Bukola Ewedairo, noted that, “Abbey Mortgage Bank is rightfully positioned to partner with institutions in the civil society by creating opportunities for long-term sustainable investment.

“We believe that Non-profit organizations need to be strengthened to achieve their mission and this workshop was our way of collaborating to ensure that they can thrive especially with the volatilities in our local economy.” She stated.

Also speaking at the event, the Managing Director of Abbey Mortgage Bank and a key speaker at the event, Mobolaji Adewumi, noted that, ” At Abbey, we are creating an ecosystem where non-profits can flourish, contribute meaningfully to society and drive sustainable change.

Adewumi further noted that “We are committed to helping individuals build wealth and attain financial empowerment and we are proud to collaborate with these distinguished leaders to make a lasting impact by supporting financial growth and empowerment” He stated.

The workshop had informative and interactive discussions, providing a forum for participants to share insights and explore collaborative opportunities. Attendees engaged in dynamic conversations, delving into strategies to enhance financial sustainability and drive positive change within the civil society sector.

Abbey Mortgage Bank reaffirms its commitment to fostering continued partnerships with NGOs, furthering its impact on the non-profit sector. The bank looks forward to ongoing collaboration, contributing to the achievement of sustainable development goals in Nigeria.

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The Big Break Moment Splashes Amazing  Rewards Worth Over 30 Million naira for Season 2 Reality Show

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*The Big Break Moment Splashes Amazing  Rewards Worth Over 30 Million naira for Season 2 Reality Show

 

 

 

 

The Big Break Moment, a leading talent search platform, has announced an extraordinary array of prizes for this year’s edition, valued at over 30 million naira, featuring a coveted New car-CS 35 Changan SUV along with a multitude of enticing rewards.

Scheduled to air from December 1st, 2023, to January 7th, 2024, the televised program will be broadcasted on DSTV channel 315 and GoTv channel 91, captivating audiences across the nation.

However, there will be 182 Participating Institutions, 30 Dream mates, 1 Winner. and the winner of the SUV will claim the prestigious first prize, while runners-up will be bestowed with a myriad of consolation prizes. This remarkable unveiling emphasizes the show’s journey and its dedication to acknowledging the exceptional talents and creativity of Nigerian youth.

Tayo Folorunsho, the visionary convener and founder, highlighted the platform’s primary goal of bridging the gap between conventional education and the dynamic entertainment industry. The Big Break Moment stands at the forefront of talent discovery by providing a global platform for students to showcase their extraordinary abilities.

The forthcoming season promises to be a sensational event, culminating in a grand finale held in Abuja, where the deserving winner will drive away in a brand-new car. Additionally, runners-up will receive enticing prizes and valuable endorsements from esteemed corporate partners.

This year’s edition aims to uncover and showcase the exceptional talents of university students, focusing specifically on singing, acting, and dancing.

Importantly, the Executive Producer, Barr Orbby Agwuncha aka Boss Lady Law has confirmed the readiness of students from all selected schools.
The Big Break Moment ensures that all participants are generously rewarded, emphasizing a commitment to acknowledging talent at every level and sharing the limelight.

The platform takes immense pride in collaborating with undergraduates nationwide, furthering its mission to expand knowledge and create opportunities for emerging talents.

The Big Break Moment is a dynamic talent search platform dedicated to discovering and nurturing the next generation of stars. Committed to bridging the gap between education and entertainment, the platform offers a transformative space for students to showcase their skills and talents on a grand scale.

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Business Networking Event: Nigerians In UK Excited As Pelican Valley CEO Lands In London

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Business Networking Event: Nigerians In UK Excited As Pelican Valley CEO Lands In London

Business Networking Event: Nigerians In UK Excited As Pelican Valley CEO Lands In London

…Expected To Attract Over £2Million Investment To Ogun

 

 

 

Ground swells of enthusiasm and expectation have remained high among Nigerians living in the United Kingdom as the Pelican Valley CEO, Ambassador Babatunde Adeyemo landed in London – ahead of the Avenue Impact Winter Ball slated for December 3rd at the Crown Plaza Hotel, London.

 

 

Business Networking Event: Nigerians In UK Excited As Pelican Valley CEO Lands In London

 

 

The Chairman of the Nigeria Diaspora Commissioner, Hon. Abike Dabiri – Erewa will grace the exclusive networking event as a Special guest of honour while Realtor Adeyemo will use the avenue to connect with other project professionals, Nigerians in the UK and enlighten them about investment opportunities, particularly in the real estate industry back home in Nigeria.

 

 

 

 

 

 

 

Adeyemo who is the brain behind the Pelican Valley Estate , where unusual homes happen, Pelican Brief Estate, where he sets to ignite a smartcity, Pelican’s Ecostay Apartments, where nature meets luxury and Pelican Valley Greenish Acres Farm Estate, where investors farm to fortune at Kobape – Masa corridor of Ogun State – and few metres away from Professor Wole Soyinka Train Station Abeokuta, stormed London Avenue Impact Winter Ball with a range of Pelican Valley real estate products for the diasporas, who have all been eagre to meet the tested and trusted real estate brand and developer.

 

 

 

 

 

 

Speaking to The Daily Crucible about the event, Adeyemo, who vouched for the integrity of the organiser, assured of his readiness to help Nigerians living abroad to benefit from the Pelican Valley’s many products, which he said were designed to suit their taste and peculiar needs.

He explained that he would specifically guide them on the prospects in the real estate business and where to invest for assured ROI; drawing from his over a decade of practical experience in the Nigeria’s real estate industry.

Receiving the real Estate poster boy at the Heathrow Airport, London, the convener and Director of the Avenue Impact Limited ,Funso Akinwunmi, expressed delight over the arrival of the multiple award winning real developer and anti curruption ambassador.

He said all is set for the prospects to embrace the once in a lifetime investment opportunity.

Aside Adeyemo, Mr. Smart Kemiki will also give property portfolio insights at the event while live performance will be done by Paul Play Dairo.

In a related development, Ambassador Adeyemo will also embark on another business trip to Canada for the forthcoming Canada Trade Mission ’24 slated for early next year in the North American country.

Earlier in July 2023, The Daily Crucible reported that an estimated over half a billion dollar investment is expected to come to Ogun State, particularly Abeokuta, the state capital, next year to boost income, create jobs and further drive the socioeconomic fortune of the Egba people to the next level.

Cumulatively, the investments are expected to come from Nigerians living in Canada, United States, Europe and other parts of the world who are desirous of laying a solid foundation back home by way of investments preparatory to their ‘Japada.’

And the vehicle to drive the investments is the planned ‘Canada Trade Mission 2024,’ a trade show and exhibitions, which is an initiative of the Solteque Group to bring Nigerians in diaspora together for a sensitization fair on the opportunities available to explore back home in the real estate sector, Adire, Isanyan, Aso Oke and other local fabrics business that are synonymous with the Egbas of Ogun State.

Also, the Pre – conference session of it was held in October in Nigeria at the June 12 Cultural Centre Kuto – Abeokuta which witnessed former President Olusegun Obasanjo, Governor Dapo Abiodun and the Chief Executive Officer (CEO) of Pelican Valley Nigeria Limited, Realtor Adeyemo, the Permanent Secretary, Ogun State Ministry of Culture & Tourism, Mrs Oluwatosin Oloko and Special Adviser to the Governor on Job & Employment Creation, Mr. Abiola Odetola galvanized the youths, artisans, local talents, and the economy in diverse sectors for exposure to the global market of consumers and investors in Canada as well as other parts of the world.

On the Canada Trade Exhibitions, the multi – award winning realtor assured that he would personally guide those eager to Japada on how to invest hard earned savings lest they fall into the wrong hands and lose their money.

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