Tag: Dangote Group

“I did not exempt Dangote Group from statutory charges”, Says Hadiza Bala-Usman

Aminu Imam

The suspended managing director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman, has stated that the agency under her leadership did not exempt Dangote Group from paying statutory charges at the Onne Ports, in Rivers State. This was contained in a statement released on Wednesday by Bala-Usman, where she described the allegations of flouting NPA rules as false and mischievous. Recall that the administrative panel set up by the minister of transportation, Rotimi Amaechi, to probe Usman will now focus on “insubordination” and not solely a case of non-remittance of N165…

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Aliko Dangote to earn N234 bn as 2020 dividend from his cement business

Aminu Imam

Africa’s richest man, Aliko Dangote, is set to earn a staggering N234 billion as dividends for the year ended 2020 from his stakes in his flagship company, Dangote Cement Plc. The billionaire, who founded Africa’s most diversified manufacturing conglomerate, Dangote Industries Limited, is the single majority shareholder of Dangote Cement. According to the information contained in the financial statement of his cement company, Aliko Dangote has a direct stake of 27,642,637 units, and an indirect stake of 14,621,387,610 ordinary shares, which he holds through Dangote Industries Ltd. A recent report…

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Dangote Sugar increase production by 13.7% despite pandemic

Aminu Imam

Despite the disruptions to the economy, owning majorly to coronavirus pandemic, Dangote Sugar Refinery recorded an increase in production volume, which rose by 13.7 percent to 743,858 tonnes in the financial year ended December 31, 2020, compared to 654,071 tonnes in 2019. The sugar group also posted increase in sales volume which rose by 6.9 percent, from 684,487 tonnes to 731,701 tonnes. According to the audited result released on the floor of the Nigerian Stock Exchange, the improvements were attributable to operations optimisation strategy despite the momentary disruption caused by…

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Dangote grooms Nigerian engineers to manage refinery complex on completion

Aminu Imam

The management of Dangote Oil Refinery is preparing young Nigerian graduates to take over the management of its 650,000 barrels per day single train refinery when it becomes operational in 2022. The President of the Dangote Group, Aliko Dangote, who made this disclosure on Saturday during the tour of the Dangote Refinery by the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, affirmed that the country is blessed with great talents that are capable of running a refinery of this size, if given the necessary encouragement. He said that…

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How Dangote trucks allegedly smuggle foreign rice through Seme Border

Aminu Imam

An investigation has revealed how Dangote Group under the leadership of its president, Alh. Aliko Dangote has been allegedly engaging in subversive activities tantamount to economic sabotage, around Nigeria land borders. In August 2019, President Muhammadu Buhari’s administration announced a border closure policy which saw the immediate halting of all trade activities across Nigerian borders with neighbouring countries like Benin Republic and others. The border-closure policy was triggered by Nigerian authorities’ frustration with the smuggling in of rice and illicit exports of locally subsidized petrol to neighboring countries like Benin…

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