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Tag: Aliko Dangote

  • Aliko Dangote: An eye on the finishing line

    Aliko Dangote: An eye on the finishing line

    The founder and President/Chief Executive of Dangote Industries Limited, Aliko Dangote, needs no introduction. And that is true for many reasons. He is as much known outside Nigeria as he is known within. What stands him out as a person, is his net worth and prowess as a businessman. His name is synonymous with his burgeoning businesses. For example, in manufacturing, he is Dangote Industries, in haulage, he is Dangote Transport, in the housing sector, and he is Dangote Cement. He has left his footprints in nearly every facet of life, including in the culinary aspect. The name Dangote Salt, Dangote Sugar, Dangote Pasta and the like are common features on dining tables and kitchens in many households.

    Dangote is, and remains a trailblazer in many respects. There’s hardly any sector in which he is a player that he had not pioneered. Even in sectors where he is a late entrant, he has been catapulted to the zenith.

    Take oil and gas for example. The Dangote Refinery and Petrochemical is a testament to his doggedness and ingenuity of him as an investor. The sheer imagination of the project, the can-do spirit and ultimate delivery of the $20 billion plant in record time in our clime, that is dotted with numerous failed government elephant projects, and a non-functional single government’s refinery in the country in over 20 years, tells the story of a personality that in our lifetime, God willing, will soon become a subject of intense study and scrutiny. He is in the class of global and legendary industry barons in the mound of household names and brands like the Ford in automobiles, Arthur Guinness in beverages and the JP Morgan’s in banking.

    To say Dangote is a rich man, or wealthy on the surface, is an understatement. For many years now, he has stood head and shoulders above his peers, registering his name as Africa’s richest man. He has held that enviable position for upwards of 12 years, more or less according to Forbes Billionaires Index.

    Dangote’s ascension to the richest man position in Africa positron didn’t come by chance. It is a result of meticulous, diligent and calculated building blocks of witty investments in trade, commerce, industry and manufacturing that have spanned decades. He started his wealth building ventures very early. He is in his sixties, yet his escapades, exploits and money making outfits date back many years.

    According to Forbes, Dangote’s net worth was $13.4 billion in April 2024, which placed him as the 144th richest person in the world, and he’s been named Africa’s richest man by Forbes for 12 years in a row: The $13.4billion net worth, according to Forbes, has been somewhat adjusted by Bloomberg Billionaires Index, which has placed Dangote’s current net worth at US$27.7 billion apparently following the completion and coming on stream of the Dangote Refinery and Petrochemicals plant designed to process and refine 650,000 barrels of crude per day situated at the Lekki Free Trade Zone, in Lagos.

    Dangote prepared himself early in life for the things he is doing today. His early preparations started with acquiring a university education and obtaining a degree in Business Administration from Egypt’s Al-Azhar University. On return to Nigeria, he kicked off with trading, majoring on cement with the initial seed money gotten from family sources.

    And to further consolidate on his preferred line of business, he took leave of Kano, where he was raised and moved to Lagos. It was from Lagos that he fanned out into importation of major commodities, ranging from sugar, flour, fish, rice, milk and other consumables.

    Along the line, he got the nudge to venture into manufacturing, essentially of products he had hitherto been a net importer.

    To understand the rudiments of what it takes to be a good and successful manufacturer, Dangote, one more time, traveled to Brazil to acquaint himself with the rudiments of manufacturing. It was after he had mastered the art of manufacturing, that in 1996, he shifted the company’s focus from trading to manufacturing, believing there was an opportunity to create a local operation that would profit from meeting the basic consumer needs of Nigeria’s growing population and beyond.

    Thereafter he began building salt and sugar refineries, flour mills and a pasta factory in 1999. In the year 2000, he bought the Benue Cement Company from the Federal Government. After acquiring Benue Cement, Obajana Cement Plant, currently the largest cement facility in sub-Saharan Africa, came on stream.

    Read Also: Demand for reforms in Nigeria’s hospital equipment sector intensifies

    Today, Dangote Group’s main publicly traded businesses, the Dangote Cement, Dangote Sugar and Nascon Allied Industries, make up about one-third of the market capitalization of the Nigerian Exchange Group (NGX).

     His ability to build strong partnerships and foster collaboration demonstrates his inclusive leadership style and his belief in the power of collective efforts. The mogul’s leadership journey with the establishment of the Dangote Refinery is a shining example of visionary leadership.

    He is a target driven and result oriented leader, attributes he brought to bear in the conception and delivery of the 650,000 barrels per day Dangote Refinery and Petrochemicals project.

    He is known to attach much value to time and its management. A staff of his said that Dangote puts a very high price on his time. “He attached a premium to it. “Don’t waste your time, he would say, “It’s your most precious asset.”  Those around him have affirmed and attested to this.

    Dangote is also reported to be someone with zero affinity and tolerance for emotional instincts when talking business. An insider said it offends his sensibility when people lace business discussions with emotional outbursts, “it doesn’t resonate with him,” a staff of his once said in a group chat with acquaintances. “Don’t bring emotions to management and financial discussions,” he was quoted as saying.

    He is also known to be very selective of his friends and those he hangs around with. Not hanging around with the wrong people has been one of his cherished and guarded secrets and abiding principle, an aide said.

  • Balancing act

    Balancing act

    • This is what CBN needs to check inflation as well as ensure reasonable interest rate

    The complaint by eminent industrialist, Aliko Dangote, that the Central Bank of Nigeria’s (CBN) high interest rate, at nearly 30 per cent, is impacting negatively on the nation’s economic growth and job creation, deserves the attention of all critical stakeholders. Speaking at a three-day summit organised by the Manufacturers Association of Nigeria (MAN), he said: “Nobody can create jobs with an interest rate of 30 per cent. No growth will happen.” The CBN needs to explain to the public the rationale for the increases in interest rate.
    The apex bank had in May raised interest rate by 150 basis points, from 24.75 per cent to 26.25 per cent, citing the need to curtail inflationary pressures. Earlier in February, the interest rate was raised by 400 basis points to 22.75 per cent from 18.75 per cent, and in March it was raised by 200 basis points to 24.75 per cent. Even though, ordinarily, monetary policies are used to tame soaring inflation, the CBN needs to explain its game plan to the people.
    Speaking as a manufacturer, Dangote was asking for favourable interest rate, to aid businesses, which is the avenue to grow the economy. Conversely, the CBN uses monetary policy to tame inflation, and that is its primary responsibility as the nation’s apex bank. The challenge for the CBN is how far should it go in raising the interest rate to curb the money supply in the system, which in turn will impact the inflationary pressure?
    For many economists, a runaway inflation has a worse impact on the national economy than slow growth, as a result of high interest rate. Perhaps, a case of, if the economy does not grow, let it not depreciate grossly, as a result of inflation. The food inflation, for example, is making life unbearable even for those in employment, as the value of the money they earn keeps depreciating daily.
    As has been rightly argued, the impact of the grave economic policies of the CBN under Godwin Emefiele, which saw the apex bank engaging in fiscal policies, through Ways and Means, of up to N22.7 trillion, and economic activities, like direct lending to the Anchor Borrowers, the power and textile sectors, distorted the monetary supply. Economists believe the excessive money supply by the CBN, at artificial exchange rates, is at the root of the galloping inflation ravaging the economy.

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    So, the dilemma facing the CBN should be how to curb the errors of the past, while not discouraging genuine economic activities that require financial support from the banks. The trajectory of the present administration seems to discourage the use of Ways and Means, liberalise the exchange rate, and create direct fiscal intervention policies, to stimulate productivity in various sectors of the economy. They have special intervention funds for manufacturers at lower interest rates.
    But how far is that impacting the economy? Interestingly, the Tinubu administration has inaugurated the Presidential Economic Co-ordination Council (PECC), made up of the regime’s economic management team and leading members of the private sector. The administration has also laid an ambitious accelerated stabilisation and advancement plan to stimulate the economy. According to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the plan “is a N2 trillion package involving N350 billion funding for health and social welfare, N500 billion funding for agriculture and food security, N500 billion for energy and power sector and general business support of about N65 billion.”
    Dangote, a prominent member of the PECC has praised the administration’s plans and enthused that the economy will rebound within months. The CBN, which is part of the coordinating economic team, must ensure a delicate balance, to rein in inflation, without pushing for excessive interest rate that could stifle economic growth.

  • Aliko Dangote Foundation highlights role of faith leaders

    Aliko Dangote Foundation highlights role of faith leaders

    The Aliko Dangote Foundation (ADF) has underscored the pivotal role of religious and traditional institutions in tackling the pressing issues of malnutrition and hunger within Nigeria.

    Speaking at an event organised by the National Council on Nutrition and the World Bank-Assisted Accelerating Nutrition Results in Nigeria Project, Mrs. Zouera Youssoufou, the Managing Director/Chief Executive Officer of Aliko Dangote Foundation, emphasised the significance of faith-based groups in the national agenda for improving nutrition and human capital development in Nigeria.

    During the high-level dialogue on nutrition at the Presidential Villa in Abuja, themed ‘Faith Leaders as Catalysts for Enhanced Human Capital Through Nutrition,’ Mrs. Youssoufou highlighted that nutrition goes beyond mere sustenance; it is about nurturing the body, mind, and spirit. She emphasized that adequate nutrition forms the cornerstone of human capital development.

    Youssoufou painted a grim picture of the situation in Nigeria, where malnutrition significantly hampers the nation’s progress. She pointed out that children are particularly vulnerable, suffering from stunted growth, cognitive impairments, and increased susceptibility to diseases due to inadequate nutrition.

    She stressed that malnutrition’s consequences extend beyond physical health to affect educational achievements, economic productivity, and overall well-being. Urgent and concerted action from all sectors of society is imperative to address this crisis.

    Youssoufou highlighted the unique position of faith leaders, with their grassroots reach and influence, in driving positive change in nutrition.

    She said their teachings on compassion, justice, and stewardship can inspire individuals to prioritize good nutrition, support vulnerable populations, and advocate for policies promoting food security.

    By leveraging the collective power of faith communities, Mrs. Youssoufou proposed fostering a culture of health and wellness that values nutritious diets, breastfeeding, and access to essential nutrients. She suggested educational programs, awareness campaigns, and community engagement to empower individuals to make informed dietary choices.

    Moreover, she emphasized the role of faith leaders as advocates for policy changes to address systemic barriers to good nutrition, such as food insecurity and inequitable access to healthcare services.

    She added that by advocating for greater investment in nutrition-sensitive programs, they can create an enabling environment for improving health outcomes nationwide.

    The dialogue aimed to facilitate the sharing of insights, best practices, and innovative solutions among faith leaders to drive progress in nutrition and human capital enhancement in Nigeria.

    It called for unity transcending religious divides to work towards a healthier, more prosperous nation.

    The host of the event, Vice President Kashim Shettima, stressed the indispensable role of faith and traditional leaders in improving nutrition within their communities.

    “Your influence is indispensable. We believe that, regardless of the quality of ideas we bring to the table, our efforts will fall short without your participation and endorsement,” he said.

    The VP stressed that Nigeria’s future readiness hinges not just on food abundance but on the nourishing quality of its food supply.

    “We must proclaim to the world that our commitment to producing food of unparalleled richness is not rhetoric,” Shettima declared, noting that “this gathering is a solemn pledge to safeguard our well-being and preserve the legacy of generations yet to come,” he added.

    He restated President Bola Tinubu’s commitment to prioritizing nutrition as part of Nigeria’s food security drive.

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    Earlier, the Minister of Budget and Economic Planning, Atiku Bagudu, said malnutrition and related challenges have over the years negatively impacted human capital development, requiring accelerated interventions.

    The Minister described the efforts and interventions of the National Economic Council (chaired by the Vice President) and the engagement with faith-based leaders as testimonies that Nigeria has the institutional mechanism to combat hunger and malnutrition with their associated challenges.

    On his part, Coordinating Minister of Health and Social Welfare, Prof. Muhammad Pate, said the engagement with faith-based leaders was not just a dialogue but a clarion call for action to address one of society’s most disturbing challenges.

    Prof. Pate called on religious and traditional leaders in Nigeria to leverage their network and influence in society to support the government in combating hunger and malnutrition, describing faith-based leaders as the backbone of their communities, hence their importance in improving the nutritional outcomes in their various domains.

    The Sultan of Sokoto, Muhammadu Sa’ad Abubakar III, and the President of the Christian Association of Nigeria, Dr. Daniel Okoh, pledged the commitment of their communities and congregations to the efforts to combat hunger and malnutrition in the country, stating that their presence at the event underscored their loyalty to the campaign.

  • Gates and our aches

    With graphs, charts and words, his points were made. His words were soft, like blues! His gait was elegant. His charisma was devoid of arrogance. And his poise was simply amazing. So he spoke and we listened. His name is Bill Gates. He is husband to Melinda. And together they have appealed to our conscience through their charity without boundary.

    Our colours meant nothing as we took in the sense in the Gates’ and others’ speeches. What mattered was our humanity, which, in the first place, was why the Seattle-born billionaire and his wife run the Bill and Melinda Gates Foundation. From Africa, Europe, Asia and America, the Gates gathered us at the Lincoln Centre in New York for the annual Gatekeepers’ summit. We were there to look at humanity, progress made and what must be done— by government, by the private sector and you, yes, you!

    For a man who is one of the richest people in the world, you may expect Gates to go about with uncommon swag; you may expect him to be loud; and you may expect him to be somewhat brash. But the Gates we listened to for two days last week had nothing in common with those traits. His speech mannerisms, in my view, give him out as shy. He is, however, not shy with dishing out cash to make the world a better place.

    Hearing Gates talk about our challenges made me wonder if our governments ever listen. It also makes me wonder if my generation will see a Nigeria that is capable of tackling its challenges. Did it make me wish prayers can do all things, including resolving our health and education woes? If only our status as one of the most religious nations on earth can ensure that!

    As a billionaire, you will expect Gates to bamboozle his way around men of power but he preferred to deal with them via email until he found out through his friend Aliko Dangote that more could be done through phone calls with Nigeria’s policy drivers.

    It didn’t come as a surprise when Dangote, who is Africa’s richest man, said Gates’ life has taught him lessons and opened his eyes to many a thing, one of which is the need to give more of his wealth to solve the problems of the world. Dangote also said he was particularly taken aback that Gates was interested in helping solve the health challenges in Nigeria. This love for Nigeria, Dangote confessed, opened his eyes to the enormity of the challenges back home.

    The 2019 report shows that across sub-Saharan Africa, girls have an average of two fewer years of education than boys. In Nigeria, according to the World Bank, girls get an average of 7.6 years, and boys get 8.7 years.

    The report also shows that one in three Nigerians live in poverty. That represents 32 per cent of Nigerians. The number of people living in poverty increased from 66.83 million in 2017 to 67.48 million in 2018. Thirty-seven per cent of children suffer from malnutrition. This is 37 per cent of the kids’ population. About half of Nigerians still use unsafe or unimproved sanitation, according to the Gatekeepers’ report.

    Significantly too, Nigeria still ranks 43rd of 52 African countries on a recently compiled sustainable development goal index. The implication is that the country has only gone 47 per cent towards achieving sustainable development goals. On another sad note, the Gatekeepers’ report shows that Nigeria still has the second-highest number of deaths of children aged five and under. It tags behind India. The report recommends that “human capital investments should be designed to reach girls and prioritise those countries and districts that have to make up the most ground”.

    Interestingly, the report observes that education is not enough to bridge the gender divide. “In some countries where girls tend to be well-educated they are still underrepresented in the workforce because they also face discriminatory norms and policies.”

    There is a very striking and instructive point in the report: “Africa’s youth population (people aged 0 to 24 years) is booming while the rest of the world is shrinking.”  The median age across Africa is 18; it is 35 in North America and 47 in Japan.

    The key issues at the summit were health, education and open defecation. The University Teaching Hospital (UCH) in Ibadan used to be one of the best in the world. The Lagos University Teaching (LUTH) and the Ahmadu Bello University Teaching Hospital were also good on the global chart. Where are they now? If these giants are no longer centres of excellence, what is there to say or write about our so-called general hospitals or federal medical centres? America, Britain, Australia, South Africa and Canada are now homes to some of our best medical brains. The few that are here do not have the tools to be the best they can be. Not a few of them run private practice by the side when government does not see the need to give them what they deserve as resident doctors and consultants.

    Education, education, education! That is the music we should be singing. We should be repeating ourselves like a broken record. For us to have the best in health, education is the bedrock. For us to have the best in economy, education is the bedrock. For us to have the best leaders, education is the bedrock. For us to have the best in all sectors, education is key. In fact, it is the full stop. Once we get that wrong, almost everything else will be wrong. Infrastructure will not be what it should be without well-educated people putting it in place.

    Without education, people will see nothing wrong in opening their ‘nyash’ at Osodi bus stop and defecating in the gutter. Certainly, they will feel no qualms defecating opposite the Presidential Villa in Abuja when they are sure no police or soldier is there to shoot them.

    My final take: Like Gates, I believe Nigeria is a super-important country and because of this, our primary healthcare system deserves utmost attention. Our education deserves the chunk of our energy and resources. There is no justification why the quality and funding of our education and primary health care system are below some countries with lower-income. We can do better.

    Our government, as preached by Bill and Melinda, should also be responsive to our least-empowered citizens, and give more support for farmers to adapt to climate change’s worst effects. Our aches should not concern Gates more than us. A word is enough for the wise!

  • Dangote eyes $30b revenue

    ALIKO Dangote, the richest man in Africa, is looking to Dangote, who is building one of the world’s biggest refineries in Lagos, in addition to investments in gas and petrochemical plants, said he expects total group revenue to grow to about $30 billion from $4 billion when the plants start operations in the next two years.

    Thereafter, he plans to include investing about 60per cent of profit outside Africa, including the U.S. and the U.K.

    “Sometimes in Africa you have issues of devaluation. We want to really preserve some of the family’s wealth,” he said.

    He plans to expand cement capacity on the continent by 29per cent to 62 million tons, entrenching his flagship company’s position as the continent’s biggest producer of the construction material.

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    He plans to add six million tons in Nigeria next year, taking volume in Dangote Cement Plc’s home market to 35 million tons, he said in interview on Bloomberg Television.

    The rest of the expansion is planned mainly in West Africa, including Niger and Cote d’Ivoire. The 62-year-old told shareholders in June the company plans to open plants in Nigeria that will allow it export clinker to grinding plants in Cameroon and West Africa.

    Dangote Cement reported six per cent increase in profit for the six months through June to N119.5 billion ($331 million), even as revenue fell three per cent to N467.7 billion.

  • Dangote: We’ve created 25,000 jobs in cement sector

    THE President/Chief Executive Officer, Dangote Group, Alhaji Aliko Dangote  said Dangote Cement Plc alone provides jobs to over 25,000 people across the nation.

    He said the firm has operations not only in Nigeria but in 14 other African countries, adding that  it has 29 million tons installed capacity for cement production and expected to increase to 35 million by 2020 in the country.

    Speaking at the official commissioning  of the  N85 million Chemical and Non-Metallic Employers Federation House (CANMPEF House), built by CANMPEF, Dangote said the  Group  has contributed to the nation’s successful transition from being world’s largest importer of cement to self-sufficiency in cement and indeed net exporters of cement.

    He said:  ‘’I am aware that CANMPEF is Nigeria’s largest employer’s federation, with your members spread in various locations across Nigeria, and fully engaged in various value-added activities that are creating wealth and employment for millions of Nigerians.

    Dangote and the Group Managing Director, Access Bank, Dr Herbert Wigwe, commended President Muhammadu Buhari for contituting the Economic Advisory Council (EAC).

    ‘’Under the present administration, our operations have continued to thrive and we are investing in capacity expansion because of the enabling environment created by the government’s economic polices.

    Read Also: Waiting for Dangote refinery

    ‘’We welcome the recent constitution of an economic management team which will further strengthen the confidence of investors and other players in the economy.

    “The team will redefine Nigeria’s economy and restore its vibrancy,”  he said.

    Wigwe said the EAC will redefine Nigeria’s economy and restore its vibrancy.

    He spoke on Thursday during the opening of new branch of Access Bank in Ipetu-Ijesha, Oriade Local Government Area of Osun State.

  • ‘Where you are born determines your future’

    The Goalkeepers Data Report, which the Bill and Melinda Gates Foundation plans to produce every year through 2030, is timed to the annual gathering of world leaders in New York City for the U.N. General Assembly. OLUKOREDE YISHAU examines this report, which shows that despite progress made, the health and education indexes in Nigeria are far from desirable

     

    BILL and Melinda Gates have in the last few years worked to improve a lot of countries in sub-Saharan Africa and beyond. Nigeria is one country, where their foundation has an office, and they have partnered with Africa’s richest man Aliko Dangote to help Nigeria get the health of its people right.

    Two days ago, they released their Gatekeepers Report 2019. One key takeaway from the report is: “Where you are born is more predictive of your future than any other factor.”

    The Gates’ observation tallies with a World Bank Human Capital Index, which shows that “children born in Nigeria today will be only 34 per cent as productive when they grow up as they could be.”

    Gatekeepers Report 2019 shows that Nigeria’s health indicators have improved.  In the late 1990s, it was estimated that two out of three Nigerians were living in poverty. That represented 68 per cent. Twenty years later, the figure has dropped to 32 per cent of the population or one in three Nigerians.

    Sixty-four per cent of children used to suffer from malnutrition in 2005. This went down to 37 per cent last year, according to figures supplied by the foundation.

    Only about half of Nigerians used unsafe or unimproved sanitation in 2018 compared to 80 per cent in 1990.

    As good as these improvements are, Nigeria still ranks 43rd of 52 African countries on a recently compiled sustainable development goal index. The implication of this is that the country has gone 47 per cent towards achieving sustainable development goals. The Gatekeepers Report lists the country as one of those who will not meet the SDGs 2030 deadline.

    Being the biggest Africa’s biggest economy, so why is it ranked so low? Gatekeepers’ report 2018 observed that poverty is concentrating on just a handful of very fast-growing countries. By 2050, for example, more than 40 per cent of Congo and Nigeria.”

    Closely tied to this is the fact that Nigeria still has the second-highest number of deaths of children under the age of five. It tags behind India.

    The 2019 report says life is better for boy-child. “No matter where you are born, your life will be harder if you are born a girl,” the report says.

    It added that across sub-Saharan Africa, girls have an average of two fewer years of education than boys. In Nigeria, according to the World Bank, girls get an average of 7.6 years, and boys get 8.7 years.

    The report recommends that “human capital investments should be designed to reach girls and prioritise those countries and districts that have to make up the most ground”.

    The report also observes that education is not enough to bridge the gender divide.

    “In some countries where girls tend to be well-educated they are still underrepresented in the workforce because they also face discriminatory norms and policies.

    “Africa’s youth population (people aged 0 to 24 years) is booming while the rest of the world is shrinking,” says the report.

    The median age across Africa is 18; it is 35 in North America and 47 in Japan.

    The report also showed that in Nigeria child mortality rate reduced from 109 per 1,000 birth in 2017 to 104 per 1,000 live birth in 2018 while child stunting reduced from 38.14 per cent in 2017 to 36.74 per cent last year.

    Malaria death, the report shows, reduced from about 166 per 1,000 population in 2017 to 160.72 per 1,000 population and cases of tuberculosis reduced from 351.8 per 100,000 population to 344.2 in 2018.

    Instances of Neglected Tropical Diseases, according to the report, went down from 52,566 per 100,000 population in 2017 to 50,584 last year. On a sad note, the number of people living in poverty increased from 66.83 million in 2017 to 67.48 million in 2018.

    The report showed that Measles-Containing-Vaccine second dose (MCV2) was low at 39.27 per cent, Diphtheria-tetanus-pertussis (DTP3) immunisation coverage was 36.39 per cent.

    The report also revealed that the vaccine coverage for Pneumoccocal conjugate vaccines (PCV3) was at 35.67 per cent.

    The Gates in the 2019 Gatekeepers’ Report entitled: “Examining Inequality 2019,” say: “Gaps between countries, districts, and boys and girls prove that the world’s investments in development aren’t reaching everyone.

    “Using new sub-national data, the report uncovers the vast inequalities within countries that are masked by averages.

    “Where you’re born is still the biggest predictor of your future and no matter where you’re born, life is harder if you’re a girl.

    “Despite gains in female educational attainment, opportunities for girls are limited by social norms, discriminatory laws and policies, and gender-based violence.

    “As we write, billions of people are projected to miss the targets that we all agreed represent a decent life.”

    The foundation called for a new approach to development, targeting the poorest people in the countries and districts that need to make up the most ground to address persistent inequality.

    “Governments should prioritise primary healthcare to deliver a health system that works for the poorest.

    “Government should also deliver digital governance to ensure that governments are responsive to their least-empowered citizens, and more support for farmers to help them adapt to climate change’s worst effects,” it said.

    It added: “The report is designed to track progress in achieving the Global Goals, highlight examples of success, and inspire leaders around the world to accelerate their efforts.

    “The goal is to identify both what’s working and where we’re falling short,” it said.

    Bill Gates, in an interview to launch the report, said:” Nigeria is a super-important country and one that the foundation has an office there.  We did a lot of work in Nigeria on polio and we learned a lot doing that.  Nigeria has gone almost three years now without having a polio case.

    “The biggest priority we have, although making absolutely sure we’re done with polio remains a big priority, now we’re able to focus even more on the primary health care system.

    “If I had one wish for Nigeria, it would be that the quality and funding of the primary health care system would achieve the level of some other countries that are lower-income but have done a better job with the primary health care system.  So, it definitely is doable.

    “In Nigeria for a lot of the work we do there we’re partnered with Aliko Dangote, who helps us understand who the good partners are and exactly how we can reach out to groups like the traditional leaders and get them involved in these efforts as well.

    “So, Nigeria is important, I’m hopeful about Nigeria.  As you see in the report, the disparities within Nigeria are quite stark.

    “Also, one challenge that Nigeria has is that the amount of money that the government raises domestically is quite small compared to other countries.  A lot of countries at that level will be raising closer to 15 per cent of GDP and Nigeria is one of the lowest in the world down at about 6 per cent.  And so, it is a huge challenge that when you want to fund infrastructure, health, education, all those things, that over time the tax collection, the domestic resources are going to have to go up quite a bit.

    “That’s a long-term effort and I think partly by making sure the current resources are spent well like on primary health care, you gain the credibility that the citizens will say, okay, we want more of these things.  If we don’t raise the quality, you can get into a trap where they don’t feel like paying the taxes actually has that much impact, and so they’re not supportive of that.

    “So, we’re working hard.  I mentioned we do videoconferences with state governors.  If we can make the six states into exemplars, then these practices can be extended to all 18 of the northern states.  There are best practices down in the south as well that we can learn from that as well. And so, you know, building on what we were able to achieve with polio and the relationships we’ve built there and our commitment, starting with primary health care, we think that Nigeria can tackle its inequality.”

  • Buhari condoles Aliko Dangote over family members’ death

    President Muhammadu Buhari on Monday commiserated with Alhaji Aliko Dangote, Africa’s leading industrialist and businessman, following recent losses of some members of his family.

    The large extended family lost three persons, Aliko’s cousin, Madugu Dantata, his uncle, Alhaji Murtala Dantata and Alhaji Sa’idu Fanta, a relation.

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    In a message of condolence to Aliko Dangote, the Dantata family and the government and people of Kano State through Boss Mustapha, the Secretary to the Government of the Federation, SGF, President Buhari described the losses, which occurred in  rapid succession as irreparable losses that must be accepted as God-ordained.

    He prayed to Allah to grant peace for the departed souls and the bereaved families the strength to bear the losses.

  • Shareholders laud Dangote Sugar

    Shareholders of Dangote Sugar Refining Plc, on Tuesday at the annual general meeting (AGM) of the firm lauded it for its performance last year.

    National Coordinator, Pragmatic Shareholders Association of Nigeria (PSAN) Mrs. Bisi Bakare said some companies are struggling with the payment of dividends, Dangote Sugar Refinery has been consistent in taking care of shareholders.

    Founder, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, decried the negative impact of Apapa Wharf traffic situation which has impacted negatively on the performance of companies as they struggle to move finished goods and raw materials to distributors and warehouses.

    Responding, the Chairman of Dangote Sugar Refinery Plc, Aliko Dangote restated the resolve of the company to soar to greater heights and create more values for stakeholders despite the plethora of challenges in the economy.

    He said the company has posted a profit before tax of N34.6billion with a turnover of N150.4 billion for the 2018 financial year. He lamented continuous smuggling of sugar into the country.

    Dangote said the company was able to post an appreciable resilient performance despite the gloomy economic outlook at the dawn of the previous year.

    He told the shareholders that the sugar giant was able to weather through the economic downturn and advanced significantly in 2018 because it pursed aggressively its backward integration plan aggressively by focusing on issues that have been bogging down the plan and subsequently adjusting the timelines.

    “2018 was quite a challenging year for the Company with several negative activities, which include influx of smuggled sugar into the key markets nationwide coupled with the Apapa traffick gridlock which continues to affect evacuation of products from the refinery”, Dangote stated.

    The Company Chairman explained that prior to the traffic logjam at Apapa, the company could move up to between 60 and 70 trucks out of the refinery but that since the problem started, it could hardly move up to 20 trucks out of the Sugar refinery daily.

    Dangote stated that the company had to revise its backward integration timeline to mitigate against the unforeseen challenges noting that the first phase of the plan include the rehabilitation and expansion of the Savanna Sugar, the Lau/Tau project in Taraba state and the Tunga sugar project in Nasarawa state.

    According to him, Savanna Sugar remains the only company producing sugar from sugarcane grown in the country and had just ended its 2018/2019 crop season. “Rehabilitation of the land and its infrastructure for improved yield and output is still on-going.

    Dangote disclosed that the first phase expansion of the Savanna Sugar capacity from the current 3,000 Tons of cane per day (TCD) , to 3,500TCD has been completed while the subsequent increase of production capacity to 6000TCD has commenced and is expected to be completed by 2020 “as well as the installation of the new 12,000TCD factory that will be fed with the increased cane supply”.

    “At Tunga, activities are well underway at 68,000 hectares sugar projects site. Activities ongoing at the project site include the establishment of the cane seed nursery, housing and other basic infrastructure with the project currently employing 325 staff with potential for increase towards the fouth quarter of the year”, Dangote stated.

  • Dangote seeks law on gender equality

    The President/Chief Executive of Dangote Industries Limited, Alhaji Aliko Dangote, has called for a law promoting gender equality in the country.

    He spoke at this year’s Women Corporate Directors lecture sponsored by Aliko Dangote Foundation.

    The business mogul called for legislative backing that will allow a certain percentage of women in public or private sectors’ work force.

    He said: “We can start with a proportion of, say, 30 women to 70 men on the board.”

    Dangote noted that increasing the number of women in corporate world would lead to an increase in innovation and innovative thinking, which would open up the door of fresh perceptive.

    The foremost industrialist said women on the board of directors of corporate entities reduce governance-related issues and ultimately result to a better performance.

    He added: “From my businesses as well, my three daughters all take on challenging roles as senior executives at the group level and I can tell you that they have led the businesses to success.

    “We have a strong number of women at Dangote Industries across board; a lot of women occupy important leadership positions and their efficiency has been noticed.”

    Dangote noted that with the calibre of women at the event – ranging from board executives of various organisation, business executives and top government executives – it has become clear that women in the work force have started taking their rightful place in the private, public and social sectors in Nigeria and across Africa.

    He said despite this impressive achievement, more work should be done to close the gender gap in the work place across the world.

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    Nigerian women, Dangote said, are climbing the corporate ladder and “we have a good number of them as CEOs of top firms, members of boards of directors, chairmen or chairpersons of boards of companies, like former Minister of Indidtry, Mrs. Nike Akande; Chairman of First Bank of Nigeria, Mrs. Ibukunoluwa Awosika; Chairman of Access Bank, Mosunmola Belo-Olusoga; Chairman of Guaranty Trust Bank, Osaretin Demuren, to mention a few”.

    He added: “At Dangote Group, we practise what we preach and women have excelled to the board of directors. We run an organisation that women aspire to the highest position without hindrances.”

    Dangote hoped that the meeting would open more doors for women as the world continues to close the gender gap in any organisation.

    According to him, the World Bank report shows that women and girls account for 40 per cent of Nigeria’s population, which comes to over 90 million.

    The business mogul said they represent huge assets for the country.

    “If we collectively tap into their potentials for the development of our economy, I can assure you that Dangote Group will continue to strengthen and mentor women in assuming leadership roles in the corporate world,” he said.

    Speaking on the theme: The courage to Lead; Inspiring Others, Overcoming Challenges and Achieving Success, the guest speaker and former Ethiopian Prime Minister Hailemariam Desalegn said gender equality is important as women potentially represent half of the world’s pool of talents and prospects for advancement.

    He said: “For Africa to prosper, we need to engage and give a chance to women to be very active in our politics, economic and business environment.”