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Tag: Dangote

  • 2019: Will it be Atiku or Dangote?

    SIR: Political machines are getting oiled and lubricated. Events are unfolding by the day without delay and clarity as the game and its players are making heavy body movements.

    Welcome to 2019, the age of big business.  And the age of billionaire politicians; a defining moment and a decider-era for over 170 million black people on the surface of earth.

    Welcome, once again to a year without which we are nobody. The year, Waziri Adamawa, Alhaji Atiku Abubakar, former Vice President and most likely, Alhaji Dangote, Africa’s richest business man will be slugging it out in the field of play.

    Yes, Dangote; you heard me right. Be not deceived, Dangote may be on his way to contesting for presidency, barring last minute moves by the powers that be as political parties are stopping at nothing in making a big claim come 2019.

    He is, of course, one of a kind and one of the most credible and unbeatable elements any political party could field as a presidential material for obvious reasons.

    One, for his financial war-chest which undoubtedly, is his strongest selling point; the richest tag on his name is a brand on its own and a trade mark, generally. It threatens his-would-be opposition and then, sends jitters in the spines of his traducers.

    Two, he is a business man, with no overt political interest or record of participation in same. That on its own has kept his name on a cleaner slate than his peers, as no dent is traceable to him whatsoever. Three, he is a man of great ideas with unequal entrepreneurial capacity, which has undoubtedly given him a wide range of high network of friends across the world. So, his candidacy is a must, if not an easy sale.

    And for Atiku Abubakar, Waziri Adamawa and former Vice President, politics is a lifestyle and presidential dream. Atiku, as a matter of fact, is a major, if not a larger than life’s contender in the business of 2019 as he has hidden nothing, and obviously, spared nothing in leaving everyone with the message he is in the race for reasons.

    With a strong political background and experiences acquired over his hey-days as a vice president and then, political lessons learnt over the years he spent in active party politics, Atiku’s ambition cannot be said to be a tea party.

    His restructuring campaigns which has made him more popular than every other politician from the northern part of the country is an added advantage, just as his financial strength is to say the least, superlative. Just as the zoning of the presidential position to the North by the two major political parties, APC and the PDP is said to favour both Atiku and Dangote.

    It is therefore, on this premise, Nigeria’s next elections embody a big poser – “2019: Atiku or Dangote?” A question only time will answer.

     

    • Gwiyi Solomon,

    Enugu.

  • ‘$18bn Dangote refinery will boost Nigeria’s foreign investment’

    ‘$18bn Dangote refinery will boost Nigeria’s foreign investment’

    The Independent Petroleum Marketers Association of Nigeria ( IPMAN ), western zone, on Wednesday says that the 18 billion dollars Dangote refinery will boost the country’s foreign investment when it finally comes on stream.

    The Zonal Chairman, Alhaji Debo Ahmed, said this in an interview in Lagos against the backdrop of arrears of N800 billion government owed marketers on subsidy.

    The Dangote refinery, which has the capacity to refine 650,000 barrels of crude oil per day with petrochemical plant which will produce 780 KTPA Polypropylene, 500 KTPA of Polyethylene, is expected to come on stream by 2019.

    Ahmed said the multi-billion dollar project, when completed, would finally address the challenges facing the downstream sector of the oil and gas industry and also aid the nation’s economy.

    He said that the refinery would also attract more foreign investments into the country’s economy and boost oil and gas revenue , while urging Federal Government to intensify support for the actualisation of the project.

    The IPMAN boss urged government to formulate policies that would liberalise the market to promote downstream sector.

    He said that government had a lot of roles to play in setting the right policies for a robust and investment friendly atmosphere.

    According to him, the refinery is expected to create over 300,000 jobs and eradicate petroleum products importation in the country by the first quarter of 2019 when it’s finally completed.

    “The refinery, when completed, would save the country billions of dollars foreign exchange on petroleum product importation and also create foreign exchange earning to Nigeria from the savings.

    “The refinery would also complement the existing refineries in the country to boost refined products and would crash the price of Premium Motor Spirit (PMS) because the product is refined in the country.

    “Therefore, it will save some costs incurred in the import market and crash price of petrol in the market,’’ he said.

    Ahmed, however, appealed to the National Assembly to expedite action on the passage of the Petroleum Industry Bill (PIB) that would reshape the oil and gas industry.

    He said that the pending bill had affected the economy’s growth of the industry, adding that the passage of the governance aspect of the bill was a right direction but other bills needed to be addressed urgently.

    NAN

  • NITAD awards for Obasanjo, Amosun, Dangote, others

    NITAD awards for Obasanjo, Amosun, Dangote, others

    The Trainers’ Conference of the Nigerian Institute  of Training and Development (NITAD), Ogun State Branch, which is scheduled to hold between October 11 and 13 at Quarry Imperial Hotel, Quarry Road, Abeokuta, will give awards of recognition to a number of Nigerians in various fields of human endeavour.

    According to the Chairman, Planning Committee, Yussuf, M.A., at a press conference held at Lisabi Elite Club, Abeokuta, recently, the Leadership Award will be conferred on former President Olusegun Obasanjo and the incumbent Governor of Ogun State, Senator Ibikunle Amosun; the Entrepreneur Award will go to the President, Dangote Group, Alhaji Aliko Dangote; and the business tycoon, Chief Adebutu Kessington while at the professional level, Honorary Fellowship of the institute will be given to the Chief Executive Officer, Regency Alliance Insurance PLC, Barrister Biyi Otegbeye; Rector, Federal Polytechnic, Ilaro (FPI); Arc. O.O. Aluko; and Rector, Moshood Abiola Polytechnic (MAPOLY), Professor O.A Itiola.

    In the Corporate Category are Dangote Group, Obasanjo Holdings, Regency Alliance Insurance PLC and IBD Limited.

    The main theme of this year conference is “Learning: A veritable Tool for Leadership and Entrepreneurial Development.” Speakers at the three – day event are drawn from learning, training and development industry. The keynote speaker is Director-General, Industrial Training Fund (ITF), Sir Joseph N. A. Ari (KSM).

    The sub-themes are: Leadership Issues; Bane of Institutional Management and Governance in Nigeria, which will be handled by Key Account Director, Dangote Group, Chux Mogholu; Learning Models and Dilemma of Unapplied, Misapplied and Misplaced Knowledge and Experience in Corporate Management by the Managing Consultant, Sustainabiliti Limited/Immediate Past President, NITAD, Dr Kayode Oluwagbuyi, FITD. Other sub-themes include: A Potent Entrepreneurial Development Weapon which will be delivered by the Executive Secretary, Institute of Entrepreneurship, Dr. Rotimi Oladele; Strategies for Identification and Development of Leadership and Entrepreneurial Potential In Early Life, will be facilitated by a former Director General, Lagos State Staff Development Centre (LSSDC), Mrs. Bunmi Fabanwo.

    The key players in learning, training and development industry are expected to be present to offer useful suggestions at the end of the programme.

  • Dangote gets three-year tax relief after constructing Apapa-Oworonshoki road

    Dangote gets three-year tax relief after constructing Apapa-Oworonshoki road

    The management of Dangote Group has said it will get a three-year tax holiday after constructing the 35km Apapa-Oworonshoki road.

    An Executive Director in the company, Devakumar Edwin, made this known in a statement yesterday in Lagos.

    Edwin said: “The company has never benefited any tax waivers or credits in its entire history except when it is industry based and same applies to all industry players.

    “It is very painful when some people accuse our company of benefitting 10 years’ tax rebate from the government. There is nothing like tax credit in all these.

    “We volunteered to construct the Apapa to Oworonshoki long highway at a cost that will be about 15 to 25 per cent less than the lowest bid on the road.

    “We hope to get back our money after three years by removing the sum from the tax we are supposed to pay.”

    He explained that the company proposed to the government to take out 50 per cent of the total cost of the road from its proposed tax in the first year after completion and 25 per cent in each of the next two years.

    “The government came forward and said, good enough your company is repairing a road that is very important to all Nigerians… is it possible to help us do proper road construction of 35 kilometers from Apapa to Oworonshoki?

    “We advised the government to go for a competitive bidding and also that we will take it up at a cost that will be lower than the lowest bid received by the government.

    “Since the government may not be handy with cash, we proposed that we will recover our money over three years in installments against our future tax.

    “The reality is the government will not pay us for the construction, but we will only offset our costs against our three years tax.”

    He explained that the company volunteered to repair the Apapa road as part of its corporate social responsibility initiative and that the construction would be carried out at 15-25 per cent lesser than the lowest bid.

    The Federal Government had said it would use tax incentive order to hand over the Apapa area comprising Creek Road, Liverpool Road, Marine Beach to Mile 2, Oshodi, Oworonshoki to the Lagos end of the Toll Gate on the Ibadan Expressway to Dangote Group.

  • Dangote denies proposed 10-year tax holiday rumor

    Dangote denies proposed 10-year tax holiday rumor

    Dangote Group is not aware of any upcoming 10-year-tax holiday arising from its ongoing construction  of the 35 kilometre Apapa to Oworonshoki  end of the Lagos-Ibadan Expressway

    The Group Executive Director, Strategy, Portfolio Development and Capital Projects, Dangote Industries Limited,  Devakumar Edwin, said the company has never benefited from any tax waivers or credits in its entire history, except when it is industry-based and when applicable to all its competitors.

    Edwin, who spoke yesterday to cross section of journalists in his Ikoyi office, said while the company has volunteered to repair the Apapa road as part of its Corporate Social Responsibility (CSR) at no cost at all to the Federal Government, the construction of Apapa to Oworonshoki long highway would be done at 15 to 25 per cent less than the lowest bid.

    He said: “It is very painful when some people accuse our company of benefitting from a 10-year tax rebate from the government. There is nothing like tax credit in all these. We volunteered to construct the Apapa to Oworonshoki long highway at a cost that will be about 15 to 25 per cent less than the lowest bid on the road. We hope to get back our money after three years by removing the sum from the tax we are supposed to pay.”

    He said the company proposed to the government to reduce 50 per cent of the total cost of the road, from its proposed tax, on its first year after completion and 25 per cent of the costs respectively for two years from its proposed tax.

    “The government came forward and said, you guys are repairing the road, good enough but this road is very important to all Nigerians. Is it possible for you to help us do proper road construction of the 35 kilometers from Apapa to Oworonshoki? We advised the government to go for a competitive bidding and also that we  will take it up at a cost that will be lower than the lowest bid received by the government.

    Since the government may not be handy with cash, we proposed that we will recover our money in three years in installments against our future tax. So infact the government will not pay anything to us, we will only offset our costs against our three years tax.

    He said the Group  had previously  built a 24 kilo metres   concrete road at Ibeshe, Ogun-state that cost the company a whooping N8.7 billion at no cost to the government and recently the Obajana-Kabba 44 kilo metre high way on which government contractors gave a bill of N16 billion but we told government that we can do it at N6.9billion. our company should be commended rather than being vilified by detractors.

    It would be recalled that the federal government said it would give tax relief to private sectors that invest in road construction in the country.

    Speaking at the Road Construction Summit 2017 organised by Lafarge and other at the  weekend in Lagos, the Minister of Power, Works and Housing, Babatunde Fashola said that there are a lot of possibilities that lie ahead when private capital comes into road construction under the tax relief order as proposed to be amended and complements government spending.

    According to him, the government has just concluded an agreement using the tax incentive order to hand over the Apapa area comprising Creek Road, Liverpool Road, Marine Beach to Mile 2, Oshodi, Oworonshoki to the Lagos end of the Toll Gate on the Ibadan Expressway to Dangote Group.

    Also, he said the government has signed an agreement with NLNG to construct the Bodo-Bonny Bridge at the cost of N120.6 billion with NLNG and federal government sharing the cost.

    “We have identified 28 toll plazas out of the old toll plazas, on roads where construction work is currently going on, at which we propose to restore toll plazas. We have also concluded traffic surveys on 51 major highways and now have current traffic data on these roads and we can project vehicular traffic movement for tolling and concession purposes,” Fashola said.

    Going by the recent second quarter GDP report, the Minister said, “With respect to construction and related activities, GDP in the sector had been negative since Q2 2015, but turned positive for the first time in Q1 2017 growing by 0.15 per cent and continued to positive growth into Q2 2017 by growing by 0.13 per cent. The reversal in construction has to do with civil works especially due to FGN capital expenditure.”

    Chairman, Lafarge Africa, Mr. Mobolaji Balogun noted that with the federal and respective state governments grappling with dwindling resources, it has become crucial that the ecosystem of public and private sector players brainstorm on issues of funding, partnerships, design, and quality of roads in Nigeria, as for sure government can no longer do it alone.

     

  • Dangote to start wheat farming in Jos

    Investment giant, Dangote Group, has discussed with Plateau State government the idea of acquiring land in the state for the purpose of cultivating wheat, which is the major raw material needed by Dangote for its manufacturing companies in Nigeria.

    The idea to cultivate wheat in Jos by Dangote is to source the raw material locally and to save the investor the rigour and huge cost of importing it (wheat) from Europe.

    Plateau State Commissioner for Commerce and Industry, Hon. Ezekiel Danju, disclosed this in his office at the Joseph Gomwalk Secretariat, Jos.

    According to Daju, “One of the economic potential of Plateau State is suitable land and favourable weather for the cultivation of wheat. That was why we paid an official visit to the corporate headquarters of Dangote Group in Lagos recently where we had a very cordial discussion on mutual benefit for the state and Dangote to venture into wheat cultivation.

    “We have prepared agricultural land known as Barc Farm. It contained at least 4,000 hectares of land. It was sold out by the past administration but we have just re-acquired it for our use.

    “The advantage of sourcing raw materials locally is that it will reduce capital flight, create jobs, reduce the cost of production of noodles and as well reduce the cost price of manufacture products.”

    The commissioner continued: “Dangote is also interested in establishing processing industries in Plateau State for the processing of tomato into paste. He is likely to also venture into mining. So, we have a lot to do with Dangote so as to realise the hope of this administration to industrialise the state.”

     

  • Dangote Foundation, GBCHealth to build coalition on health

    Dangote Foundation, GBCHealth to build coalition on health

    The Dangote Foundation and GBCHealth joined forces to forge a new model of partnership, the African Business Coalition on Health (GBCHealth) in Africa.

    Dangote Foundation Chairman Aliko Dangote shared plans to build an African Business Coalition on Health (ABCHealth) during the Bloomberg Global Business Forum. Dangote was co-host of the forum, which held alongside the United Nations General Assembly in New York.

    According to him, the African-led coalition of companies and philanthropists will seek to improve the health and wellbeing of Africans, both within the workplace and within the broader communities. The partnership, Dangote stated, will develop and deploy impactful health programmes in Africa, deepen knowledge, build evidence for future investment and strengthen co-ordination among African philanthropists, business leaders, companies and local business networks.

    The coalition is building on the leadership, reputation and convening power of the Aliko Dangote Foundation and the experience, reputation and global reach of GBCHealth. Critical issues that will be the focus of the partnership ranges from nutrition to malaria, with priorities identified and agreed by local leadership.

    Through his Foundation, Dangote has made an unprecedented grant and seed contribution to GBCHealth of $ 1.5 million over three years, as a call to action and a signal to the African business community of the importance of working together and investing in health.

    ”The time is ripe for the private sector to proactively demonstrate its value in partnering to lead a new era in development,” Dangote said, adding that the coalition could provide much needed guidance to ensure activities and investments are driving results in areas where the private sector can have real impact. Besides, it will focus on holistic and integrated solutions that cross borders. “We look forward to working with other business leaders as partners in development to drive this impact,” Dangote said.

    Co-chair of GBCHealth’s Board of Directors Aigboje Aig-Imoukhuede said the coalition brings together two heavyweights in the health and development arena. ”Together we have an opportunity to demonstrate how investing in health and creating healthier populations can help business maximise shareholder value, accelerate economic growth and make entry into new markets more feasible,” he said. The coalition will have five primary objectives in its first three years.

    They include incubating partnerships on priority health programmes to enhance and accelerate results; working directly with companies to optimise workplace and community health programmes; advocating for policies and initiatives that drive system-level changes. It will also create a hub of data and insights specific to Africa and African business; and curate leadership events to convene and drive action around common health issues across sectors.

    The programme will kick-off in Nigeria and roll out in business regions in Africa and beyond over the next three years. The continent currently has 400 companies with revenue of more than $1 billion yearly, and these companies are growing faster, and are more profitable in general, than their global peers.

    Coupled with these fast-moving regional leaders, small and growing businesses create 80 per cent of the continent’s employment and are stoking the engines of growth. Against this backdrop, according to Dangote, there’s a new cadre of responsible business leaders and philanthropists, who understand the value and promise of sustainable large-scale investments in African countries, and are poised to make an even bigger impact on the continent’s people and economies.

    Dangote Foundation CEO Zouera Youssoufou said: “GBCHealth has a strong track record of bringing diverse groups together to improve the health wellbeing of communities. We look forward to collaborating to build an African business community united as a force for healthier and more inclusive development.”

  • Dangote committee donates N250m to victims

    Dangote committee donates N250m to victims

    The Presidential Committee on Flood Relief and Rehabilitation, headed by Aliko Dangote, has provided N250million as relief assistance to flood victims in Benue State.

    In response to a request by the state government, the committee has approved the release of one Internally Displaced Person (IDP) hostel, completed by the committee in the state, to provide temporary shelter for displaced persons.

    More than 110,000 persons in 24 communities, including Makurdi, have been displaced by flood.

    The Executive Secretary of State Emergency Management Agency (SEMA), Mr. Boniface Ortese, said over 2,769 households were affected.

    He said places affected included Achusa, Idye, Wurukum Market, Genabe, Industrial Layout, Demekpe, Wadata Market, Katungu, behind the Civil Service Commission, Agboughul-Wadata, among others, in Makurdi.

    “In Achusa, 200 houses were affected, with 5,125 persons displaced. In Idye, 217 houses, with 5,200 persons displaced. Behind the Civil Service Commission, 200 houses were submerged and 5,777 persons were displaced.”

  • Plateau partners Dangote for investment

    Plateau State Governor Simon Bako Lalong has said his  government will partner Dangote Group in policy formulation, tax holidays, land and security, to ensure safety of investment in the state.

    He spoke when he led top government functionaries to visit the Chairman  of Dangote Group,  Alhaji Aliko Dangote, at the headquarters at Marble House, Ikoyi, Lagos, during the annual general conference of Nigeria Bar Association (NBA).

    The governor said the meeting was intended to woo the  the billionaire investor in core areas of agriculture, with emphasis on wheat, rice, tomato and Irish potatoes on a large scale production, solid mineral exploration and processing, establishment of agro-based industries and capital injection in a public private partnership, to revitalise ailing industries in the state.

    Lalong said the government secured the Federal Government’s support to secure mining sites not under any lease from the encroachment of illegal miners.

    He said the state had arrangement to re-acquire the former BARC Farms, with a wide expanse of about 5,000 hectares, adding that it will  open up Bokkos Farm with 3,000 hectares, for investment in agriculture.

    “This is besides the potential the state has, to acquire arable land for cultivation.”

    Dangote hailed the governor for the return of peace in Plateau, noting that conflicts, which engulfed the state in the past, discouraged investors.

    He said: “With the return of peace, openings exist because of the weather of Plateau State for large scale cultivation of wheat, rice, vegetables and fruits.  My company is interested in exploring these.”

    Dangote thanked Lalong for keying into the global trend of employment creation and revenue generation through private sector participation.

    He assured him and his team of his readiness to send in consultants to engage the government and explore areas of interest.

  • Dangote refinery to hire local vendors

    Dangote refinery to hire local vendors

    •NCDMB to launch NCI Fund with $200 million

    Dangote Refinery will select competent local vendors from the Nigerian Oil and Gas Industry Joint Qualification System (NOGICJQS), to participate in its plant’s construction, its Chief Operating Officer, Mr Giuseppe Surace, has said.

    The NOGICJQS is a database of indigenous capacities in the oil and gas industry, managed by the Nigerian Content Development and Monitoring Board (NCDMB).

    Surace spoke during a technical meeting between top officials of the company and the NCDMB at the plant’s site in Lekki, Lagos.

    According to the NCDMB, Surace confirmed that there were many advantages in patronising the local market.  “Nigerian companies will get the first right of refusal. We will procure anything that is available in Nigeria,”he was quoted as saying.

    Surace noted that there were several Nigerian Content opportunities in the company’s refinery and gas gathering projects, but reiterated that interested companies must submit competitive bids and have technical capabilities. He explained that the project is a private investment, hence the strategy is to get the best quality anywhere in the world at the most competitive price.

    He advised local vendors to quote reasonable prices when bidding for industry projects rather than think that they will win jobs because of the Nigerian Content Act regardless of how high their quotations are.

    He said Dangote Group engaged the services of some Nigerian companies for its fertilizer project, which had reached an advanced stage of development and was committed to do same for the 650,000 barrels per day refinery project slated for completion in October 2019.

    NCDMB  Executive Secretary,  Simbi Wabote promised that the Board would assist the company in the utilisation of the NOGICJQS database to ensure that it maximises local personnel usage, goods and services in the construction and operations phase of the project. He said: “The Nigerian Content Act applies to every player in the Nigerian oil and gas industry and not just international companies. If Nigerian companies and investors procure everything from abroad then the essence of the Act will be defeated.”

    Wabote maintained that slight cost differentials between Nigerian and foreign vendors should not be an excuse to export jobs, stressing that the opportunity cost of creating employment for Nigerians, developing local capacity, retaining money spent in the economy and engendering a safe operating environment for companies justify any marginal cost of execution charged by Nigerian vendors.

    He noted that Nigerian companies were affected by high costs of funds and powering their operations with diesel generators, assuring however that investments and initiatives by the Federal Government are already improving the power situation in the country.

    On funding, the NCDMB chief said the Board had obtained necessary approval to relaunch the Nigerian Content Intervention Fund (NCI Fund). According to him, the Fund available for lending to qualified oil and gas players, had been increased from $100 million to $200 million to ensure that more deserving companies benefit at the same time, adding that the Fund will be disbursed by the Bank of Industry (BoI) at eight per cent interest rate to be repaid within five years.

    Wabote also sought Dangote Refinery’s collaboration to build infrastructural and human capacity that will support the  operations  phase of the project, stating that “operations last for many years and there are huge opportunities to tap in from the Local Content perspective.”

    He charged the management of the refinery to develop and submit a list of support businesses that will be needed in the operations phase of the refinery for the Board to build the capacity of Nigerians ahead of the project commencement.