The Nation Newspaper

Tag: Dangote Sugar

  • Dangote Sugar posts N430b revenue in H1

    Dangote Sugar posts N430b revenue in H1

    Dangote Sugar Refinery Plc has reported a revenue of N430.21 billion in the six months ended June 30, 2025, which in contrast to N295.62 billion earned in the same period in 2024 represents a 45.53 percent increase. According to financial reports posted on the portals of the Nigerian Exchange Group, revenue for the second quarter rose by 25 percent, to N216.28 billion compared to N172.90 billion in 2024.

    The sugar refinery bounced back to profitability in the second quarter of 2025, reporting a pre-tax profit of N523.8 million, compared to N104.5 billion loss recorded in the same period last year.

    Read Also: Man O’ War opens command in college

    Dangote Sugar Refinery PLC is a leading sugar processor in Nigeria engaged in the refining, distributing, and marketing of granulated sugar to major players in the food and beverage, pharmaceutical and skin care industries as well as wholesalers. The Company operates an annual 1.44 million metric tonnes (MT) sugar refining plant in Apapa and a 50,000 tonne per annum refining facility in Numan, Adamawa State, making a total refining capacity of 1.49 million metric tonnes. 

    DSR has continued to invest in a backward integration programme to reduce its reliance on sugar imports. DSR has 47,364 hectares of sugar plantation and aims to produce 1.5MT of refined sugar annually from its sugarcane in the medium term.

  • Dangote Sugar grows turnover by 51%,targets 75,000 jobs

    Dangote Sugar grows turnover by 51%,targets 75,000 jobs

    The Chairman of Dangote Sugar Refinery Plc, Aliko Dangote, has revealed that the company’s turnover increased by 51 per cent to N665.6 billion for the year ended December 31, 2024, as against the corresponding figure of N441.5 billion recorded for the 2023 financial year.

    Speaking at the 19th Annual General Meeting (AGM) yesterday, Ms Bennedikter Molokwu, who chaired the AGM in an acting capacity, noted that the company’s performance in 2024 was impacted by various macro-economic challenges, but that despite that, the future of the company remains very bright.

    Dangote said the company’s outlook for 2025 and beyond is to build a sustainable business, target the production of 1.5 million metric tonnes of refined sugar annually and at the same time generate over 75,000 employment opportunities, in the company’s value chain.

    Read Also; FG declares public holiday

    In the same vein, shareholders at the AGM, applauded the Board and management of Dangote Sugar Refinery Plc for maintaining its leadership in the Nigerian sugar industry, despite prevailing economic challenges.

    The shareholders acknowledged Dangote Sugar as one of the largest sugar refineries in Sub-Saharan Africa and the leading player in Nigeria’s sugar sector. This position is underpinned by a combined installed refining capacity of 1.49 million tonnes per annum.

    President of the Association for the Advancement of the Rights of Nigerian Shareholders,  Dr. Farouk Umar, commended the company’s performance in its 2024 report. He highlighted that, despite numerous economic hurdles, the company has remained on a solid growth trajectory.

    “Our turnover of N665.6 billion represents a 51% increase compared to N441.5 billion in the same period in 2023. Earnings per share rose from N6 to N15.80. In the current economic climate, many companies are struggling to grow revenues or maintain profitability. We must commend the Board for their efforts in expanding operations and increasing shareholder value. Alhaji Dangote has pledged that the company will make Nigeria self-sufficient in sugar production,” he said.

    President of the De-Impressive Shareholders’ Association of Nigeria, Pastor Olagoke Samson Olusegun, praised the Chairman, Aliko Dangote, and the executive team for steering the company to higher levels of success.

    Also speaking, the Chairman of the Trusted Shareholders Association of Nigeria (TSAN), Alhaji Mukhtar Mukhtar, acknowledged the economic difficulties facing businesses in Nigeria. He described Dangote Sugar’s performance as commendable and expressed shareholders’ confidence in continued profits and dividends.

    Another shareholder, Mr. Patrick Ajudua, attributed the company’s sustained success to its adaptability and ability to weather economic headwinds. He congratulated the company on its 25th anniversary, remarking that Dangote Sugar has come of age and is poised for even greater achievements.

    Group Managing Director/CEO of Dangote Sugar Refinery Plc, Ravindra Singh Singhvi, reiterated the company’s goal of achieving self-sufficiency in sugar production for Nigeria, with a target of producing 700,000 tonnes of sugar locally within the next five years.

    Executive Director Hajiya Mariya Dangote noted that the company is expanding its Backward Integration Projects (BIPs) and commissioning a new power plant, among other projects, to enhance operational efficiency.

    In the Chairman’s statement contained in the Annual Report & Accounts, Aliko Dangote stated that the company remained focused on its strategic initiatives during the year, despite persistent volatility and external pressures. He reaffirmed the company’s commitment to maintaining high standards of corporate governance.

  • 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.

  • Woman, 70, arrested for selling ‘fake’ Dangote Sugar

    The National Agency for Food and Drugs Administration Control (NAFDAC) has arrested a Lagos-based businesswoman, Esther Olufunmilayo Akinsanya, for allegedly selling fake Dangote Sugar.

    Akinsanya, 70, was arrested alongside one of her workers, Femi Abraham Adebiyi, at their shop located at No. 1, Tailor Road, Iddo, Lagos, on August 2, 2017.

    According to NAFDAC, the duo was re-bagging and repackaging unregistered sugars imported from Brazil, into Dangote Sugar bags.

    The unregistered Brazilian granulated sugars included Aqucar Crystal Sugar; Aqucar Special Crystal Sugar and Usina Belavista Sugar.

    NAFDAC said the imported sugars were not fortified with Vitamin ‘A’, which was contrary to the NAFDAC Act.

    The businesswoman was also accused of failing to register the Brazillian granulated sugar with NAFDAC.

    A senior lawyer in NAFDAC’s legal department, Umar Shamaki, said a four-count charge had been prepared against the suspects and their company.

    Shamaki said they would be arraigned at the Federal High Court, Lagos when courts resume from vacation.

    The charge, a copy of which was shown to reporters, was marked FHC/L/293c/17. It reads: “That you Esther Akinsanya, Femi Abraham Adebiyi, and Esther Olufunmilayo Akinsanya Nigeria Limited, on or about August 2, 2017, at 1, Tailor Road, Iddo, Lagos, packaged various brands of unregistered Brazilian granulated sugar to wit: Aqucar Crystal Sugar; Aqucar Special Crystal Sugar; and Usina Belavista Sugar, into Dangote granulated sugar bags, in a manner that is false contrary to Section 5(a) of the Food and Drugs Act Cap l. F.33, LFN 2004, and punishable under Sections 17(1) and (2) of the same Act”.

    “That you Esther Akinsanya, Femi Abraham Adebiyi, and Esther Olufunmilayo Akinsanya Nigeria Limited, on or about August 2, 2017, at 1, Tailor Road, Iddo, Lagos, did sell Aqucar Crystal Sugar; Aqucar Special Crystal Sugar; and Usina Belavista Sugar as Dangote Sugar, in a manner likely to create wrong impression as to its value contrary to Section 5(a) of the Food and Drugs Act Cap l. F.33, LFN 2004, and punishable under Sections 17(1) and (2) of the same Act”.

     

    Count three reads: “That you Esther Akinsanya, Femi Abraham Adebiyi, and Esther Olufunmilayo Akinsanya Nigeria Limited, on or about August 2, 2017, at 1, Tailor Road, Iddo, Lagos, imported various brands of granulated Brazilian sugar to wit: Aqucar Crystal Sugar; Aqucar Special Crystal sugar; and Usina Belavista sugar, without registration, contrary to section 1(1) of the Food, Drugs and related products (Registration) Act Cap. F.33, LFN 2004, and punishable under sections 6 (1) (a) and (b) of the same Act”.

    “That you Esther Akinsanya, Femi Abraham Adebiyi, and Esther Olufunmilayo Akinsanya Nigeria Limited, on or about August 2, 2017, at 1, Tailor Road, Iddo, Lagos, imported food to wit: Aqucar Crystal Sugar; Aqucar Special Crystal sugar; and Usina Belavista sugar as Dangote Sugar, which are not fortified with Vitamin ‘A’, contrary to section 1(1) of the Food forrification with Vitamin ‘A’ regulation 2005, and punishable under sections 8(1) and (2) of the same Act”.

     

  • Dangote Sugar grows Q3 profit to N14.2b

    Dangote Sugar grows Q3 profit to N14.2b

    Dangote Sugar Refinery (DSR) Plc, Nigeria’s largest sugar producer, recorded modest growths in profitability in the third quarter, according to the interim earnings report released by the company.

    Key extracts of the unaudited report and accounts for the nine-month period ended September 30, 2015 showed that modest growths in pre and post tax profits as the company drew on improved cost efficiency to mitigate similarly modest decline in sales.

    Profit before tax stood at N14.22 billion for the nine months ended September 30, 2015 compared with N13.97 billion in corresponding period of 2014.  Gross profit had risen by five percent to N18.80 billion in contrast with N18.63 billion. Profit after tax increased to N9.34 billion from N9.15billion in the same period in 2014. Turnover had dropped marginally from N73.8 billion in third quarter 2014 to N73.05 billion in third quarter 20145. The report showed that production at the company’s subsidiary-Savannah Sugar, was on the increase, rising to 6,610 tonnes whereas a total of 6,245 tonnes was produced in 2014.

    Commenting on the results, deputy group managing director, Dangote Sugar refinery, Abdullahi Sule, explained that after a good performance in the second quarter, the company struggled to sustain the pace of improvement in the third quarter as it continued to face challenges getting its sugar out of the Apapa area to customers, which constrained overall operations in the quarter.

    He said the company has started to explore alternate means of product evacuation including the rail and additional warehouses to fulfil the growing demand of its sugar in the Northern parts.

    “I am pleased that despite these challenges we were still able to improve our profit margins and bagged additional market share from the sugar smugglers and competition as the quarter ended.  “We are excited as our Sugar for Nigeria project continues to gain momentum and our five year target to execute the first phase of our backward integration plans – the Savannah rehabilitation and Lau/Tau projects progress,” Sule said.

    He pointed out that Dangote Sugar is Nigeria’s largest producer of household and commercial sugar with 1.44 million tonnes of refining capacity, with the ability to supply most of the country through an extensive network of distributors.

    He added that the refinery at Apapa imports raw sugar from Brazil and refines it into white, Vitamin A fortified sugar suitable for household and industrial uses noting that Savannah cane sugar factory located near Numan, in Adamawa State has an installed sugar capacity of 50,000 tonnes.

    According to him, covering 32,000 hectares in extent, the Savannah Sugar estate has considerable opportunity for expansion which is underway.

    “Our strategy is to become a global force in sugar production, working within Nigeria’s National Sugar Master Plan to end importation and sell more than 1.5 million metric tonnes of locally produced sugar in Nigeria and neighboring countries. As part of this plan we acquired Savannah Sugar in December 2012 and are currently improving its farm acreage and upgrading its production facilities. We intend to augment Savannah’s 32,000 hectares in Adamawa state by acquiring and planting a further 150,000 hectares across Nigeria, supporting the new plantations with modern production facilities that are located closer to the consumer,” Sule said.

     

  • Dangote Sugar obtains SON food safety certification

    Dangote Sugar obtains SON food safety certification

    DANGOTE Sugar Refinery has been certified by the Standard Organisation of Nigeria (SON) as a food safety compliant company.

    The company’s management said at the weekend that it successfully obtained the Food Safety Management Systems certification issued by the standard regulatory body.

    According to the Deputy Group Managing Director, Dangote Sugar, Abdullahi Sule, an engineer, “the Food Safety Management System is a standard that guides the refinery’s core business, the refining of high quality sugar using safe practices to manufacture finished product using hygienically habits in the production processes”.

    He  added that the Food Safety Management System, FSMS, (ISO 22000:2005); certification is the third in the series of ISO certification on Quality, Process Safety/Security and Food Safety, achieved by the sugar refinery, and thus making it the only sugar organisation in the country with three ISO certification.

    He added that in addition to the Food Safety Management System, (FSMS) ISO 22000:2005; Dangote Sugar Refinery is also ISO 9001:2008 Quality Management System (QMS), and ISO 18001:2007 Occupational Health and Safety Management System (OHSMS) certified.

    These certifications, Sule said, attested to company’s “relentless efforts at achieving its set goal to be one of the world’s leading integrated sugar producers, with high quality products and using best practices in the day-to-day running of its operations, in line with internationally accepted standards”.

    He added that the company is working towards the achievement of FSSC 22000, (Food Safety System Certification); a GFSI (Global Food Safety Initiative) recognised scheme.

    The sugar refinery firm is actively pursuing a backward integration master plan with a target of producing a total of 1.5 million tons of sugar per annum. The target is to enable it meet the national sugar master plan.

    It plans an additional Investment of N180 billion for four factories in Sokoto and Kebbi states and has 150,000 hectares of land allocated for the project in Kogi, Kwara, Jigawa, Sokoto, Taraba and Kebbi states.

  • Dangote Sugar Refinery declares N4.8b dividend

    Dangote Sugar Refinery declares N4.8b dividend

    Shareholders of Dangote Sugar Refinery (DSR) Plc will share about N4.8 billion as cash dividends for the immediate past business year, according to the board of the manufacturing company.

    A dividend recommendation released at the weekend indicated that shareholders would receive a dividend per share of 40 kobo for the business year ended December 31, 2014. However, the dividend represents a 33.3 per cent on 60 kobo dividend paid for the previous year.

    Audited report and accounts of the company for the year ended December 31, 2014 showed mixed performance. Turnover dropped from N103.15 billion in 2013 to N94.86 billion in 2014. Profit before tax also slipped from N16.27 billion in 2013 to N15.27 billion in 2014. However, with reduction in tax provisions, net profit increased from N10.85 billion to N11.64 billion. With this, earnings per share rose marginally from 90 kobo to 97 kobo.

    Total assets increased to N92.80 billion in 2014 as against N83.16 billion in 2013. Shareholders’ funds also rose from N46.98 billion to N51.41 billion.

    DSR distributed N7.2 billion to shareholders as cash dividends for the 2013 business year, representing a dividend per share of 60 kobo.

    Chairman, Dangote Sugar Refinery (DSR) Plc, Aliko Dangote, had assured that the company’s 10-year growth plan would deliver better returns to shareholders and consolidate its position as the largest sugar company in West Africa.

    According to him, pursuant to the introduction of the federal Government’s National Sugar Master Plan in Nigeria, DSR has begun it own development plan which would lead to phenomenal growth in its capacity over the next five to 10 years.

    “This plan is targeted at the production by your company of 1.5 million to 2.0 million tonnes of sugar per annum from locally-grown sugar cane within the next five to 10 years. This will further consolidate our position as the largest sugar producer in West African region,” Dangote said.

    H e noted that the company has taken great care in the preparation of this sugar development plan with the operations being structures to include an increased focused on the company’s backward integration project.

    He said the company has a robust growth agenda driven by the backward integration development plans.

    “As we commence this journey our priority remains to consolidate our clear leadership of the sugar industry in Nigeria. We will work to ensure ongoing operational efficiency to drive continued growth across our markets,” Dangote said.

     

  • NSE market indices record further depreciation

    NSE market indices record further depreciation

    Weekly transactions on the Nigerian Stock Exchange (NSE) closed on bearish note on Friday as the market indices depreciated further.

    The News Agency of Nigeria (NAN) reports that the market indices dropped by 0.34 per cent following price losses.

    The NSE All-Share Index lost 112.26 points to close at 33,159.08 against the 33,271.34 posted on Thursday.

    Also, the market capitalisation, which opened at N10.64 trillion, dropped N36 billion to close at N10.60 trillion.

    Total topped the losers’ table with N15 to close at N157 per share.

    Nestle trailed with N2.01 to close at N898, while Unilever lost N1.50 to close at N55 per share.

    Cadbury depreciated by N1.29 to close at N32.21, while Dangote Cement lost N1.15 to close at N158.85 per share.

    On the other hand, Ashaka Cement recorded the highest price gain to lead the gainers’ chart by 29k to close at N23.50 per share.

    Dangote Sugar came second on the gainers’ chart with 20k to close at N7.49, while RT Briscoe gained 18k to close at N2 per share.

    GTBank appreciated by 15k to close at N25.55, while John Holt increased by 14k to close at N1.54 per share.

    NAN reports that in all 123.54 million volume of shares valued N1.61 billion transacted in 3,876 deals.

    This is against the 634.71 million shares worth N4.24 billion exchanged by investors in 4,729 deals.

    Skye Bank emerged the most traded stock, accounting for 14.56 million shares valued N81.36 million.

    It was followed by GTBank with 10.66 million shares worth N272.19 million, whille FBN Holdings sold a total of 8.20 million shares valued at N162.24 million.