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Tag: Dangote

  • Dangote, Adenuga, Alakija, seven others on richest list

    Dangote, Adenuga, Alakija, seven others on richest list

    Forbes, a website renowned for ranking of richest people in the world, has made available the list of richest people in Nigeria in 2017.

    In the latest release, nine others made the billionaires club to join Africa’s Richest man Aliko Dangote with a net worth of $12.5 billion.  In 2014, Dangote ranked as the 24th richest man in the world but has since then fallen to positions below 100 due to Naira’s depreciating value.

    Others on the rich men’s list, according to Forbes ranking, are: Gbobacom and ConOil Chairman Mike Adenuga with a net worth of $10.5 billion, with interest in oil and gas and telecoms and Zenon Oil and Gas and Forte Oil Plc Chief Executive Officer Femi Otedola, who has interest in real estates amongst other sectors with a net worth of $2.3 billion.

    Also in the club are: business tycoon Mrs. Folorunsho Alakija, who has interest in fashion, oil and printing industries. Mrs Alakija, who is the richest African woman has a net worth of $2.1 billion; former Chief of Army Staff (COAS) Gen Theophilus Danjuma, who is the Chairman of Atlantic Petroleum with a net worth $1.7 billion and BUA Group Founder Abdusalam Rabiu, who has interest in sugar refining, cement production, real estate and port operations.

    In September 2015, the BUA Group signed a $600 million deal with a Chinese cement equipment service provider Sinoma International Engineering to construct a second production line in Edo State. He is worth $1.5 billion.

    The others are: United Bank for Africa and The Tony Elumemu Foundation Chairman Mr. Tony Elumelu. The philanthropist is worth $1.4 billion. There is also former Abia State Governor Orji Uzor Kalu. The Slok Holding founder and Chairman runs a conglomerate with interest in shipping, banking, oil, trading, manufacturing and the media. He is worth $1.1 billion.

    Zenith Bank Founder and Chairman Jim Ovia is the largest shareholder with a stake of almost 10 per cent.  Ovia is worth $1 billion.

    The Chairman and Founder of the Honeywell Group, Oba Otudeko is said to worth $650 million. He is the chairman of FBN Holdings Plc. His operations spread across oil and gas, flour milling, real estate and marine transportation.

  • Dangote: Nigeria’s on path of industrialisation

    Dangote: Nigeria’s on path of industrialisation

    •’62,000 jobs on the way’

    Nigeria is on track to realising its industrialisation target, Africa’s richest man said yesterday.

    Aliko Dangote, who is Dangote Group’s President, spoke of the conglomerate’s plans in the next few years.

    Speaking in Lagos at the Ninth Bola Tinubu Colloquium, he said inconsistency in government policy had been the bane of industrial development over the years, but that the unfolding glimmer of hope showed that the country was on the right track.

    He said the country was on the way to the next trajectory.  “We are working with the government to ensure economic recovery; the future is bright,” Dangote said.

    The industrial giant added that in cement production, the country was producing 1.8 million tones by 2014, an improvement from the scenario in 2004 when the country was the greatest importer of cement in Africa and second in the world.

    He said 70 per cent of the cement used in the country today are produced locally and that in the next few years, the country will become self-sufficient and reverse the trend by  exporting to countries like the United States (U.S.). He added that the group is targeting to export about 400,000 tons to the U.S. soon.

    Dangote said the country would be self-sufficient in the production of a lot of items in the nearest future. He said the group is building a refinery with a capacity of 650 million barrels per day, which will satisfy the demand of the entire Economic Community of West African States (ECOWAS).

    He thanked Asiwaju Bola Tinubu for facilitating the siting of his petro-chemical plant within the Lekki corridor, saying that were it not for the former Lagos State governor who assisted in providing about 2,008 hectares of land for the project, it would have been taken elsewhere.

    The Dangote Group President said the petro-chemical plant is 10 times the size of the one in Eleme, Rivers State and that the plant employs about 18,000 workers. He said by next year, the staff strength would increase to 60,000. He gave 2019 as the project’s completion.

    Dangote said the group has a plan to expand its sugar production, by setting up plants in Nasarawa and Taraba states. He said by the time the two plants come on stream, the country would be producing 2.5 million tons of sugar, almost twice the commodity’s local consumption of 1.7 million tons.

    He said his group has initiated move to set up a rice processing mill, with a capacity of producing 1.6 million metric tons.

  • Dangote Tomato Company to resume production on Sunday

    Dangote Tomato Company to resume production on Sunday

    The Managing Director, Dangote Tomato Processing Company, Alhaji Abdulkarim Kaita, has said the factory will resume production on Sunday.

    In an interview, he said the company, located in Kadawa, Kano State, was expecting a team of engineers from Italy.

    “As part of preparations to resume production on Sunday, we are expecting a team of engineers from Italy today. The machines are under guarantee and we are not able to operate last year due to the scarcity of fresh tomato in Kano and other neighboring states,” he said.

    Kaita said the engineers would assess the quality parameters as well as the installed capacity of the machines before they could finally hand them over to the company. “Our engineers are ready to begin work and as soon as the other team of engineers arrive, we hope to resume operation on Sunday,” he said.

    He said the company had decided to resume production following availability of the commodity and the recent crash of its prices in the market.

    “The price of the commodity has come down as a big basket, which was selling at N4,000, now cost between N1,200 and N1,400,” Kaita said.

    The company last year stopped production due to scarcity of fresh tomato as a result of pest that ravaged farms in Kano and other tomato producing states.

    However, to ensure sufficient supply of the commodity, the company  signed an agreement with farmers in Gombe and Sokoto states.

  • Dangote Foundation votes N200m for Kano hospital rehab

    In addition to building a N7 billion surgical and diagnostic centre (SDC) at the Murtala Muhammed Specialist Hospital, Kano, the Dangote Foundation is renovating sections of the hospital at the cost of over N200m.

    The 900-bed capacity hospital, reputed for the highest number of in-patients in sub-Saharan Africa has been lacking facilities that may detract from the new SDC being built by the Foundation, hence the decision to carry out the construction and renovation of the auxiliary facilities.

    The chairman of the Foundation said he is committed to its timely completion.

    The Foundation handed over to the hospital management a renovated maternity ward, two ultra-modern maternity laboratories, upgraded water supply system Eclampsia ward, theatre and improved sanitary environment befitting of a specialist hospital.

    President of Dangote Group, Aliko Dangote who was represented by his daughter, Hajiya Fatima Dangote, explained that the provision of the health care facilities was in line with the focus of the Foundation to contribute to improved health care service delivery in Nigeria as well as nutrition on the African continent.

    He stated that his Foundation has the mandate to intervene in the critical areas such as health, education and human development which was why the Foundation has also embarked on some poverty alleviation programmes targeted at women at the grassroots.

    Kano State Governor Abdullahi Ganduje, who was represented by his deputy, Hafis Abubakar expressed the state’s gratitude to Dangote Foundation for coming to the aid of the state in the task of provision of sound health care to the people of the state.

    He urged other public-spirited individual and organisations to rise up and partner with the state government efforts at making life more meaningful to the people saying government alone could not provide all that the people need.

    The Deputy Governor then called on the staff of the hospital to make judicious use of the facilities and maintain them like their personal property so that they can serve the people for a long time.

    The state Commissioner for Health, Kabiru Getso said the Murtala Mohammed Specialist hospital Kano, was established about 92 years ago and it is one of the biggest facilities in Africa; with the maternity ward alone recording no fewer than 2, 000 deliveries monthly.

    Head of Medical laboratory of the hospital, Magaji Minjibir said the intervention by Dangote Foundation was timely because the state of the hospital was appalling.

    He said the hospital’s laboratory has suffered congestion and the hospital is generally bedevilled with many infrastructural challenges.

    “At the chemical pathology, we had to wait for our equipment to cool down before we process results. The Histology department had to stop work temporarily. Our autoclave is about 15 years old and outdated. We have only one microscope and this cannot cater for our teaming patients while lab staff take turns to perform tests and this delay results especially for patients in emergency cases”.  Minjibir stated.

    The Matron in charge of Maternity ward, Hauwa Mansur Waziri, who also spoke on the pitiable situation of the hospital before the Dangote Foundation’s intervention, said the new facilities will go a long way in improving services and saving more lives.

    “There is no doubt that our staff will now be motivated by the conducive environment made possible by the Foundation. They can now perform their duties free of so many hazards. The wards now have bright light, functional tools, water and toilets. All these would enhance conditions of patients and help healing process”, she stated with excitement.

  • Dangote, farmers, Sokoto sign rice growers’ agreement

    Dangote, farmers, Sokoto sign rice growers’ agreement

    THE Dangote Rice Limited yesterday signed a tripartite agreement with out-grower rice farmers and Sokoto State to create 16,000 jobs.

    Parties to the agreement pledged to ensure the success of the scheme to make Nigeria self-sufficient in rice cultivation.

    The agreement was signed during the launch of the Dangote rice outgrower Scheme in Goronyo, Goronyo Local Government, Sokoto State.

    The event was witnessed by the Sultan of Sokoto, Alhaji Sa’ad Abubakar. Farmers were presented with rice seeds, fertilisers, nets and agro chemicals.

    Chairman of Dangote Rice Limited Aliko Dangote said he decidedto go into rice cultivation because of the genuine interest of the Federal Government to revive agriculture as the mainstay of the economy and reduce importation of foods that could be produced locally.

    He lamented that Nigeria consumes 6.5 million metric tonnes (Mtn) of rice, which costs the nation over $2 billion annually.

    Dangote added that it was encouraging the Federal Government now has policy direction that encourages private sector’s participation in agriculture.

    “Buoyed by the policy direction of the Federal Government, we at Dangote decided to key into this by establishing Dangote Rice Limited to partner with states to redress the present situation, where a huge sum of forex is spent on importation of rice…

    “This scheme will help to diversify the economy, alleviate poverty and reduce the nation’s import bill. The scheme has been designed as a one-stop solution for the rice value chain,” he stated.

    The Dangote Rice Project Director, Robert Coleman, said the Sokoto State operation was a demonstration phase to familiarise the farming community with the programme, train extension workers and lead farmers as well as test modern technologies.

    He noted that they will have 25,000 ha cultivated by nearly 50,000 outgrowers in 2017 in addition to hundreds of jobs expected to be created by the end of the year.

    Governor Aminu Waziri Tambuwal hailed at the event, saying the coming of Dangote to invest in the state was as a result of his sustained effort towards inviting prospective investors.

    He said the state under the scheme, just as it had done with the Federal Government, would distribute nets, water pumping machines and fertiliser at subsidised prices to help the farmers have good yields.

    Sultan Abubakar, however, hailed President Muhammadu Buhari for his diversifying efforts, urging Nigerians to pray for him.

    He lauded Sokoto State for supporting the outgrowers’ scheme.

  • Dangote rewards distributors with cash prizes

    Dangote rewards distributors with cash prizes

    Distributors of the Dangote foods companies, including Dangote Flour, Sugar and Salt smiled home last night as the management of the Companies doled out over N2 billion as rewards for their loyalty to the companies over the past one year. 

    At a colourful Gala night which the distributors were hosted to last night, top performers in each of the six geo-political zones, as well as national leading distributors were duly recognised with plaques and cash rewards of varying amounts. 

    President of Dangote Group, Aliko Dangote said the recognition and cash rewards was in the character of the Companies management to appreciate their loyalty customers who stood by the organisations through thick and thin. 
    He explained that the management holds their distributors in high esteem because they are the reason for the success recorded by them in 2016 despite the economic challenges and the difficult operating environment businesses found themselves. 
    “Our achievements would not have been possible without you. You stood by us through thick and thin. We appreciate the confidence reposed in us to serve you. We came into these businesses at a time Nigerians have preferences for imported foreign foods, even if inferior. 
    “Because you are behind us we have succeeded and today we take the lead while others follow in ensuring we domesticated all our production processes and by so doing good creating jobs locally” 
    Dangote informed the distributors of his Group’s venture into rice production saying it is a very ambitious project and that in two years time, Dangote Rice limited item will be churning out one million tonnes. 
    He stated that mission of Dangote rice is to wipe out all imported rice from  the homes of  Nigerians noting that by the time Dangote rice comes on stream, “Nigerians would not talk about Thai rice again, because our rice will be finer than imported ones” 
    While urging the customers to remain committed and loyal to Dangote products, he promised that the managements of the food companies under Dangote Group would double the over N2billion billion given out as rewards. 
    Dangote disclosed the food companies would replicate the same achievement recorded in cement industry through backward integration such that every components of their production processes would be domesticated to ensure all the products are available in  all nooks and crannies of Nigeria and at the same price. 
    Also speaking, the Executive Director of Dangote Flour, Hajiya Halima Aliko-Dangote said what the companies did was just a token of appreciation for the volume sales recorded by the distributors despite the economic doldrum. 
    She stated that the managements were encourage by the loyalty of the distributors to continue to invest in innovation and research extensively on how to make their products more consumer friendly continuously in line with the realities of the time. 
    In his address of welcome email earlier, Chairman of the Dangote Flour, Mr. Asue Ighodalo said the distributors have proven to be dependable allies with their patronage of Dangote products and loyal to the brands in all circumstances. 
    The Dangote Flour boss said 2016 was in it deed a difficult years for most businesses saying some closed down, some scaled down their operations and in the process retrenchment their staff. Dangote food companies rather absorbed the substantial higher cost of inputs so that the customers would remain in profitable business 
    “However, it is to your credits our dear distributors that in that particular challenging year, Dangote Food companies waxed stronger, produced more, sold, more and gave returns to all stakeholders hence our gathering together tonight. Tonight is your night, and tonight is your day”, he stated. 
    He said no region in the country did not do well and that is why the companies are happy to reward them bountifully. Ighodalo challenged them not to rest on their oars but strive to sell more. 

  • Dangote to launch 25,000 hectares of rice outgrowers scheme in Sokoto

    Dangote Rice, a subsidiary of Dangote Group, is to launch in Sokoto, Sokoto State, its multi-million naira 25, 000 hectares of rice outgrowers scheme, with a prospect of hundreds of thousands of jobs for rural communities’ residents.

    The group’s President, Aliko Dangote, said at the weekend the company would on Wednesday launch a pilot project of 500 ha by Gonroyo dam, in Goronyo community.

    Gonroyo dam is the second largest in the country, after Kainji.

    The ceremony, to be performed by Governor Aminu Tambuwa, will witness seedlings being distributed to local farmers, who will plant the seed after which Dangote Rice Company will buy from them for milling and final processing.

    Sokoto State is the second after Jigawa of the 14 states spread across the area where Dangote Rice plans to operate outgrower scheme to empower local farmers and create job opportunities for rural dwellers and reduce migration to the cities.

    Dangote Rice projects in the states, when operational, will generate jobs and increase income for smallholder farmers, while diversifying Nigeria’s economy and reducing the nation’s food import bill.

    Statistics fArom the Federal Ministry of Agriculture and Rural Development (FMARD) estimate rice demand in Nigeria reached 6.3 million MT in 2015, with only 2.3 million MT of that demand satisfied by local production.

    This local production shortfall leaves a gap of 4.0 million MT that is being filled through formal importation of rice or illegal imports over land borders.

    By end of this year, Dangote Rice plans to produce 225,000 MT of parboiled, milled white rice. This will allow us to satisfy four per cent of the total market demand within one year. Our model can then be successfully scaled to produce 1,000,000 MT of milled rice in order to satisfy 16 per cent of the domestic market demand for rice in the next five years.

    Due to the economic crisis, domestic prices for agro-commodities have risen in the last 12 months, making local agriculture an attractive investment.

    Dangote Rice Ltd seeks to take advantage of this economic trend and the favourable policies laid out in the FMARD’s Agricultural Transformation Agenda.

    Dangote Rice has a mandate to local, high-quality milled, parboiled rice for the Nigerian market. This goal will be achieved by sourcing the raw material (paddy) required from the Dangote Rice Outgrower Scheme.

    Through the Dangote Rice Outgrowers Scheme, DRL will partner outgrowers (smallholder and contract rice farmers) to cultivate and grow rice paddy. DRL will provide input, technical assistance, extension services and land preparation services and equipment to farmers. At harvest, DRL will recoup the costs of input and services and will act as a guaranteed offtaker for paddy that meets certain pre-agreed quality standards. Smallholder farmers will provide land and labour.

     

  • Dangote: restructure power sector or risk disaster

    Dangote: restructure power sector or risk disaster

    The Honorary Adviser to the President of Dangote Group,  Joseph Makoju has warned that if the existing structure in the power sector is not fundamentally changed, the nation risks disaster.

    Speaking at a two-day Power Sector Stakeholders Interactive Dialogue convened by the National Assembly in Abuja, Makoju, who was Special Adviser to three presidents on Power, canvassed for a fundamental structural change, as against the current path of tariff increases and government’s bailouts.

    He said: “I want to stress that, I do not wish to be alarmist; but if we continue on the current path of tariff increases and government bailouts without fundamental structural changes, we will soon be dealing with a disaster. What assets are on ground will depreciate, financial positions will deepen, and eventually we will all come back to these same conclusions but after much more harm has been done.”

    Makoju pushed for adequate funding and restructuring of the power sector so as to achieve relative stability in electricity generation and distribution

    He said the power sector is  bankrupt to the point of even threatening the health of financial institutions and the wider national economy.

    To restructure the sector for effective services, Makoju advised a reduction in the distribution zones.

    He said the failure of the power sector under government management was not technical and commercial management of the business but the absence of sustained and adequate funding of the sector. According to him,  despite the privatisation exercise six years ago, the problem of the sector remained the same.

    “Most of the private sector investors in the power privatisation had no specialist knowledge or understanding of the power sector, which has eroded the technical and managerial competence in the industry. And the funding problems have persisted and even become exacerbated as they now even threaten the stability and health of the nation’s banking system as well as the entire electricity sector,“ Makoju lamented.

    While noting that the distribution end of the value chain is the most inefficient and has suffered the greatest neglect, he described it as one which underpins the financial viability and sustainability of the entire sector. “To get the sector moving forward we need to improve its liquidity position, and this can only be accomplished through satisfied, paying customers,” he said.

    Still on adequate funding for the sector, Makoju said the Association of Nigerian Electricity Distributors (ANED) reports that as at last December, the funding gap in the power sector is over N1 trillion and as such, advised that funding must be looked at from the perspective of new equity and debt financing arrangements and structures, and internally generated revenue maximisation.

    As a lasting solution, he also canvassed new capable players working in a reconfigured power sector while also considering residual government shares for bringing in long term funding.

    While urging the government to declare a state of emergency in the sector, he sought for the engagement of industry experts and policymakers to draw up a comprehensive power sector master plan building on past provisions and arrangements to deliver an electricity industry fit for current and future needs.

  • Dangote to extend investment opportunities

    Dangote to extend investment opportunities

    Multi-billionaire investor Aliko Dangote has expressed his group’s desire to consolidate on his existing investments in Zambia and other African countries by exploring opportunities in the energy and agriculture sectors.

    Dangote spoke when he visited Zambian President Edgar Lungu to express his gratitude for the enabling environment that the country offered investors at every level.

    Already, the business mogul has a cement factory in Zambia in which several hundreds of Zambians are employed.

    Dangote urged Zambian government to roll out policies to encourage massive investments and the produce very competitive.

    “I am here not only to explore investment opportunities and consolidate our existing business relations, but also to congratulate your Excellency for your victory in the last general elections. I wish you many years of success as you guide your nation to greater heights and prosperity,” Dangote said.

    “During your tenure, you need to implement agricultural practices, which will ensure that yields per hectare are high and competitive,” this is because, “Zambia’s natural advantage in the export market is the readily available captive market that consists of eight neighbouring countries and other nations in the great lakes region,” he said.

    “We are going to explore investment opportunities in the energy sector and perhaps look at the viability of existing petroleum refinery facilities,” he added.

    Lungu said his government was determined to put in place policies that would be investor-friendly and guarantee conducive and enabling environment for the businesses to thrive.

    The Zambian helmsman instructed Minister of Finance Felix Mutati and relevant government ministries and agencies to ensure that the process of facilitating investments in job-creation enterprises was efficient.

    “Agriculture is the major thrust in Zambia’s economic diversification drive and among our top priorities, which include the provision of affordable food, fuel and farmer inputs.

    “I admire your tenacity and commitment to invest within Africa because that is what improves the brotherhood between nations. We will support you and facilitate your investments in Zambia,” assured the President.

    He added:  “We need to put our hands together to help our people out of poverty.”

  • Dangote, Amaechi, Folawiyo, others celebrate Jumoke Okoya-Thomas

    Like the evergreen plant which remains fresh as the seasons come and go, Jumoke Okoya-Thomas is as good-looking and bubbly as ever. The revered politician is one of the most formidable women in the country; an icon of the ‘can do’ spirit that has propelled her to success in a male-dominated field.

    The daughter of the late industrialist and CFAO boss, Alexander Molade Okoya-Thomas, recently celebrated her 60th birthday and the high society was out in full force to honour one of their own. The event, which took place on Friday January 20, was a spectacular affair full of vim and colour. Spotting local outfits of varying designs, Jumoke’s family, friends and well-wishers converged on the Oriental Hotel, Ozumba Mbadiwe Road, Victoria Island, Lagos, venue in droves to felicitate with her.

    The three-term former member of the House of Representatives was all smiles at the event as she greeted guests. Although she is currently not serving in any political position, her pedigree was still enough to attract the who is who among the social and political elites, including the Minister of Transport, Chibuike Rotimi Amaechi; former Ogun State governor, Olusegun Osoba; the Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa and the First Lady of Lagos State, Mrs Bolanle Ambode.

    Chief Razaq Okoya and his wife, Shade, Alhaji Aliko Dangote, Oba Otudeko, Mrs. Daisy Danjuma, Mrs Haba Folawiyo and Sen. Tokunbo Afikuyomi were also on hand to lend colour to the event.