The Nation Newspaper

Tag: Dangote

  • Dangote to support Kogi’s economic drive

    Dangote to support Kogi’s economic drive

    President of the Dangote Group Aliko Dangote will support Kogi State government in diversifying its economy.

    Dangote spoke yesterday when he visited Governor Yahaya Bello at the Government House to discuss the ‘new direction agenda’ policy of the government.

    Accompanied by his Special Adviser on Industries, Mr. Stephen Makoju, Dangote said the group was more determined to help the state in diversifying its economy through agricultural development, job creation and building of roads.

    Noting that the company had stretched into mining, Dangote hinted that $160 million had been sunk into coal mining in Ankpa and N5.2 billion to build.

    Bello reiterated the government’s support towards ensuring that Dangote succeeds.“We will give the necessary support to Dangote in its Corporate Social Responsibility (CSR) towards Kogi and its people.”

  • Dangote Cement outlines plan for profit growth

    Dangote Cement outlines plan for profit growth

    Dangote Cement Plc would shift to coal as a stable energy source, increase the group’s production capacities with the opening of new cement plants and enhance its domestic and international supply as part of a multi-prong approach to improve its performance in the period ahead.

    At the presentation of the underlying facts on the operations of the cement group yesterday at the Nigerian Stock Exchange (NSE), chief executive officer, Dangote Cement Plc, Onne Van der Weijde, outlined the strategic initiatives being taken to improve the profitability of the cement group.

    He spoke against the background of the half-year results of the group for the period ended June 30, 2016. Key extracts of the group results showed that turnover rose to N292.19 billion in first half 2016 as against N242.22 billion recorded in comparable period of 2015. Profit before tax however dropped to N124.89 billion in first half 2016 as against N128.73 billion recorded in comparable period of 2015. After taxes, net profit declined from N121.81 billion to N103.42 billion.

    Van der Weijde said the cement group would start 100 per cent coal production in September 2016 in an attempt to overcome the shortage of gas supply and reduce the challenge of foreign exchange (forex).

    According to him, the company had decided three years ago to diversify and de-risk fuel supplies by opting for coal mills as energy sources, with the coal mills now ready for operation by end of September 2016.

    He said switching to coal would improve margins compared with Low Pour Fuel Oil, improve fuel security, eliminate shutdown as 100 per cent coal use will be possible across all lines and reduce forex need for imported fuel.

    He added that the some of the company’s plant in Obajana in Kogi State and Ibese in Ogun State have already started using locally purchased coal blended with imported coal to assure optimal quality for their operations.

    “We will begin mining our own coal at Ankpa in Kogi State in fourth quarter,” Van der Weijde said.

    He noted that klin fuel is the major cost of cement production, pointing out that the group margins are affected by the inefficiencies in the fuel mix.

    He assured that in the second half, the group expects strong volume growth with Ghana likely to import more cement from Nigeria while simultaneously focusing on protection of margins in Nigeria with more coal facilities in Nigeria coming on stream and increased exports to ECOWAS countries.

    He said the groups’ Congo plant is set for operation in October 2016 while the Sierra Leone plant is expected to ready by October 2016.

    Chief executive officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema commended Dangote Cement as a dominant player in the industrial goods sector, noting that the cement group has continued to solidify itself as an innovative brand in this sector.

  • Dangote transforming Africa, says Togolese leader

    Dangote transforming Africa, says Togolese leader

    •Ambode: refinery ‘ll end fuel scarcity

    President of Togo Republic, Faure Gnassingbe yesterday in Lagos, lauded the investment drive of the richest man in Africa, Aliko Dangote across the African continent, describing him as a man with a mission to aggressively transform the African economy.

    Speaking during the tour of the Dangote Refinery project in Lagos, Gnassingbe said Dangote is a worthy son of Africa who has chosen to buoy the economic activities of the continent with his investments. “Aliko Dangote is our pride in Africa and his aggressive investment drive towards developing the economies of the continent should be lauded,” he said.

    Welcoming the president to the Dangote Refinery and Fertilizer projects, Governor AkinwumiAmbode said the projects will change the face of the state and Nigeria, once it is completed.

    “I understand your interest in the progress of this project Mr President. This investment is one of the biggest in Africa today and it will have a huge impact not only on the economy of all Nigerians but also of the West African region when completed… Apart from creating jobs, this refinery will also contribute immensely to solving the fuel supply challenge in the West African region.

    “We also thank Aliko Dangote himself for his confidence in the Lagos economy. This project is a strong confirmation that Lagos is a prime investment destination…this project shows that there is a positive investment climate in Lagos which has resulted in massive investors’ confidence. We believe strongly that the future prosperity of West Africa is in collaboration between the government and the private sector,”Ambode said.

    Minister of Industry, Trade and Investment (MITI) Okechukwu Enelamah described Dangote as an African champion that is bent on developing not only Nigeria but Africa as a whole. He said both the projects clearly demonstrate the partnership between the government and the private sector.

    “What we are seeing here is a demonstration of partnership between the government and the private sector at its best… nobody goes through this site without understanding the power of the private sector to power an economy…We can all envision about what Africans should be but we know we need champions,, I think one thing everybody accept whether you admire, respect or challenge Dangote or not, is that he is indeed an African champion, he is a Nigerian champion and he will continue to be… he has a choice to invest anywhere in the world but he has chosen to invest and reinvest and reinvest in Nigeria and Africa. So, we are very interested in what u are doing and we assure you of the support of the government,” he said.

    Thanking the president for coming to see the progress of the projects, Dangote said the projects would cost $17 billion.

    He said the $12 billion refinery would have a capacity of 650,000 barrels a day and assured that there will be market for the refined products because even in Africa, only three countries have effective functioning refinery with others importing from abroad.

    Dangote named the countries with refinery as Egypt, South Africa and Cote d’Ivoire.  “Our refinery will be ready in the first quarter of 2019. Mechanical completion will be end of 2018 but we will start producing in 2019,” he said.

  • Global labour union seeks special recognition for Dangote

    Global labour union seeks special recognition for Dangote

    For his investments, which have created thousands of jobs across Africa, the African Industrial Global Union has hailed the President of Dangote Group, Alhaji Aliko Dangote.

    The body, at a meeting in Lagos, called for a special recognition for the African entrepreneur, describing him as a success story from Africa who African countries must be proud of.

    At a network meeting on unionisation in Dangote Group, organised by the Industrial Global Union, Africa Region, in Lagos, the union leaders said Dangote has offered a relief to Africa from the negative narratives the western countries latched on to discredit the continent and her people.

    They stated that as Dangote is so patriotic as to dot African soil with billions of dollars investments, creating jobs and reducing poverty, he needs to be given special recognition to motivate others to toe similar line.

    Relishing the prospect of an African country hosting the largest refinery and petrochemicals project, the union leaders said they planned to bring the business mogul to address them at their next African meeting.

    The Regional Secretary, sub-Sahara Africa, Fabian Nkomo, said the body cherished Dangote’s business acumen and would like to work closely with him to ensure that job quality is maintained.

    He said no African has invested so much in Africa, so Dangote should be encouraged. “He has helped governments across African states to create vital jobs and reduce poverty among our people. The union is proud of him,” Nkomo stated.

    The Africa Regional Chairman of Industrial Global Union, Issa Aremu, who is also the General Secretary of Textile Workers Union, praised Dangote for leading industrialisation in the continent.

    Aremu acknowledged Dangote’s efforts at re-industrialisation of the continent, stimulating its growth and creating jobs for its huge population.

    The labour leader lauded Dangote’s commitment to sustainable industrial development, urging governments to provide favourable environment for investments and improve infrastructural development.

    He added that it was time Dangote Group entered into mutually-rewarding engagement with relevant unions even as he called on trade unions to support businesses through improved productivity.

    Aremu alluded to the $12b refinery, petrochemicals and fertilizer projects, which, he said, will be a revolution in the Nigerian industrial space when completed.

    As partners in progress, Aremu pledged  to ensure business-friendly unionisation of Dangote workers.

    He also cautioned the unions involved to be proactive and strategic in handling the exercise, saying, “We need to show that we are partners to improve on the businesses of Dangote. We are talking of unionization because there is an investment in which workers are engaged. If there are no businesses, we can’t be talking of unionism.”

    The Industrial Global Union, with headquarters in Geneva, Switzerland, represents 50 million workers in 140 countries in the cement, mining, energy and manufacturing sectors.

  • Union leaders seek special recognition for Dangote

    Union leaders seek special recognition for Dangote

    For his strategic investments across African countries and creation of thousands of jobs, the African Industrial Global Union has hailed the President of Dangote Group, Alhaji Aliko Dangote, for his investment patriotism in Africa.

    The body, at a meeting in Lagos, called for special recognition for the African entrepreneur, describing him as a success story from African soil for which African countries must be proud of.

    Speaking at a network meeting on unionisation in Dangote group, organised by Industrial Global Union Africa Region in Lagos, union leaders said Dangote offered a relief to Africa from the negative narratives the   Western countries latched on to discredit Africa and its people.

    They said as much as an African could be so patriotic to be dotting African soil with billion of dollars investments to create jobs and reduce poverty, he needs a special recognition to motivate others.

    Relishing on the prospective of an African country hosting the single largest refinery and petrochemicals train project, the union leaders said in their next African meeting, they would bring the business mogul to address global union leaders.

    Regional Secretary, Sub- Sahara Africa, Fabian Nkomo said the body cherished the  business acumen of Dangote and would work with him to ensure job quality is maintained.

    He said he moved round Africa and discovered no one else invested so much in Africa as an African like Dangote. “He has helped governments across African states to create jobs and reduce poverty among our people, the unions are proud of him”, Nkomo said.

    In his remark, the Africa Regional Chairman of Industrial Global Union, Issa Aremu who is also the general secretary of Textile Workers Union praised Dangote for leading industrialisation on the Africa continent.

  • Dangote’s relief materials for vulnerable persons

    Minister of the Federal Capital Territory (FCT), Malam Muhammad Bello has received relief materials from the Dangote Foundation for distribution to vulnerable persons in the FCT.

    The Acting Secretary of the Social Development Secretariat, Mrs. Adebola Irene Elegbede, received the relief materials on behalf of the Minister at the Cyprian Ekwensi Centre for Arts and Culture.

    The items donated included  Dangote sugar, salt, spaghetti and 3,000 5kg bags of rice, among others.

    The Minister appreciated the kind gesture of the foundation, reiterating that the items would be judiciously distributed to the needy and vulnerable groups in the territory.

    According to the statement issued by his Chief Press Secretary, Muhammad Sule, Bello noted that the gesture of goodwill and generosity extended by the foundation to the less privileged is a recognition of the efforts by President Muhammadu Buhari-led administration to provide succour to the IDPs.

    He said, “We are ready to partner with well-meaning individuals or groups in order to provide meaningful living conditions to the vulnerable persons in the territory.”

    According to him, “we are deeply grateful to the Dangote Foundation for always setting the pace in these collaborative efforts,” and called on other organizations to emulate Dangote  oundation’s magnanimity”.

    The Minister assured that the FCT Administration would make judicious effort to ensure a widespread distribution of the donated items.

    He emphasised that the FCT administration respects any non-governmental organisation that is committed to uplifting the welfare of the people particularly the less privileged in the society.

    Malam Bello restated that the gifts to the vulnerable and displaced persons would definitely touch the lives of the downtrodden.

    While presenting the items, the Director of Health and Nutrition of the Dangote Foundation Dr. Azeez Oseni, who represented the Chairman of the Foundation, Aliko Dangote said that the items were meant to support the poor and indigent.

    He commended the Minister for according the delegation a warm reception; especially by providing standard storage facilities for the items.

    “The adequate plans put in place to receive the consignments including warehousing of the food items and logistics for distribution to the poor and indigent is highly commendable too,” Oseni said.

    The FCT administration has immediately started the distribution of the donated items to the vulnerable persons in the territory.

  • Dangote donates foodstuff to IDPs in Abuja

    Dangote donates foodstuff to IDPs in Abuja

    The Dangote Foundation has donated foodstuff to the vulnerable and Internally Displaced Persons (IDPs) in Abuja.

    Acting Secretary, Social Development Secretariat, Mrs. Adebola Irene Elegbede, received the materials on behalf of the Federal Capital Territory (FCT) Minister, Malam Muhammad Bello, at the Cyprian Ekwensi Centre for Arts and Culture.

    Items donated are 2,000 units of 1kg sachets of Dangote Sugar; 1,000 units of 1kg sachets of Dangote salt; 1,000 cartons of Dangote Spaghetti; 3,000 units of 5kg bags of rice; 500 units of 10kg bags of Danvita and 500 units of 10kg bags of Wheat Meal.

    Bello thanked the Dangote Foundation for the gesture and promised that the items would be distributed judiciously.

    Director of Health and Nutrition, Dangote Foundation Dr. Azeez Oseni, who represented the Chairman, Aliko Dangote, said the items were meant to support the poor and indigent.

    He hailed the minister for the a warm reception, especially the provision of standard storage facilities.

    “The plans put in place to receive the consignments, including warehousing of the food items and logistics for distribution, is commendable,” Oseni said.

  • Dangote jobs to stimulate Ghana’s economy

    Dangote jobs to stimulate Ghana’s economy

    Dangote Cement Ghana said it has procured 1, 000 brand-new-trucks to facilitate the distribution of cement products to all parts of Ghana. The trucks, which came in three different vessels, arrived at the shores of Tema Port, last week.

    The company’s Media Relations Manager, Mr. Etornam Komla, who made this known to Reuters, said the company has commenced the process of recruitment of drivers, truck driver assistants and loaders, adding that by the end of July, all the drivers will be on board.

    He said the recruitment was part of the company’s objective of contributing to Ghana’s economic growth through job creation and honoring tax obligations.

    “These are components of the company’s mission in Ghana, which is to stimulate its economy,” Komla said.

    He said the company has also invested over $100 million in the construction of a new plant in Takoradi in the Western region. The plant, which will be a state of the art modern cement grinding plant, will have the capacity to produce about 1.5 million tonnes of cement per annum.

    “This project when completed will further cement the presence of Dangote Cement business in Ghana and is a further proof of our commitment to the infrastructural development of the country and will also enable us to meet the growing demands across other countries in West Africa” he explained.

    Although cement manufacturing remains the flagship of Dangote group’s businesses, the President of the group Alhaji Aliko Dangote has also made foray into oil and gas, investing in a petrochemical, refinery and fertiliser plant in Nigeria.  The petrochemical complex where these plants are being built occupies a land mass in excess of 2,100 hectares. The projects will cost in excess of $12 billion. The oil refinery has a capacity of 650, 000 barrels per day and over 3,000,000 ammonia and urea plants.

    Dangote told Reuters that these businesses will be ready between 2018 and 2019.

    The company also plans to build a 550 Kilometre Gas Pipeline across Nigeria and into West Africa.

  • Dangote to rebuild health facilities in Yobe

    Dangote to rebuild health facilities in Yobe

    The Chairman of Dangote Foundation, Alhaji Aliko Dangote, has promised to partner the Yobe State government to rebuild health facilities destroyed in the Boko Haram insurgency.

    Of major concern are those in Gujba and Gulani Local Government Areas.

    Ali Dangote, who was speaking via a video link from Maimi in the United States, during a mid-year review in line with the Memorandum of Understanding (MoU) signed with the state, Bill and Melinda Foundation, and Dangote Foundation, praised the state for the progress since the MoU was signed.

    “I hail the Yobe State government for doing a fantastic job in ensuring children are immunised, despite the security challenges.

    “On the destroyed health facilities in the two local governments, the Dangote Foundation will partner the state to ensure that they are rebuilt…”

  • Dangote seeks help to tackle hunger in IDPs camps

    Dangote seeks help to tackle hunger in IDPs camps

    The President of Dangote Group, AlhajiAliko Dangote, has called on well-meaning Nigeria to assist the government in ameliorating the situation in Internally Displaced Persons’ Camps (IDPs) camps.

    Dangote said this is the time wealthy Nigerians should identify with thousands of citizens languishing in the camps due to insufficient facilities and food.

    The business mogul, who recently donated N2 billion and millions of Naira worth of food items on behalf of the Dangote Foundation to the IDPs, urged Nigerians to have empathy for those in the camps.

    Speaking during a visit by North East Development Coalition to his office at the weekend, the Chairman of the Dangote Foundation said he was moved by the reports of deaths and malnutrition which have hit the camps.

    He said: “We cannot open our eyes and allow our fellow citizens continue to suffer like this for no fault of theirs. We need to partner with the government and help those in the camps.

    “It is obvious government alone cannot cater for this people, not even at this time when there is a paucity fund. These people need our help and with what God has provided for us we need to help them.”

    Within a spate of five years, the total amount donated to various camps of Internally Displaced Persons (IDPs), across the country by the Dangote Foundation has grown to N6. 3billion.