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Tag: Dangote

Akiolu blames govt, Dangote for Lekki crisis

Who should be blamed for the October 12, 2015 Lekki crisis which claimed the life of Lekki Free Zone (LFZ) Managing Director Tajudeen Disu?

It is the government, Lekki Investment Worldwide (LIW) and Dangote Investment management, says Oba Rilwan Akiolu of Lagos.

Oba Akiolu, who was testifying before the tribunal set up by the government to probe the crisis, said the government’s “insincerity” caused the problem.

The monarch also regretted recommending Disu for appointment.

“I was instrumental to the coming of the late Disu to assist the state government. If I had known that he would meet his untimely death, I wouldn’t have allowed him to come,” he said.

“I came to the tribunal when I heard about the matter in the media.

“What happened at Lekki is insincerity on the part of government and investors. These (villagers) are native people but have been dispossessed of their land which they use for survival. So, the government has fault there”.

According to him, there should have been public enlightenment on what government wants for the villagers.

He said the government claimed that those who had been paid came back to request for more money, adding that it was not being emphasised that the $100million Dangote gave as compensation was inadequate.

The monarch also blamed the community for taking laws into its hands.

“The people are uneducated and were doing the right thing in a wrong way. Majority of the landowners in the whole of Lekki don’t want to work, they only want to sell land,” he said.

Oba Akiolu urged the government and investors to make the people shareholders in their companies.

“Any company that comes to take land must ensure that at least five percent shares of the company are reserved for landowners while their children should be sent to school,” he advised.

The monarch urged the government to prevail on Dangote Group President Aliko Dangote to talk to the people, stressing that they should be renumerated for their crops.

Besides, he said, well known people should be engaged when compensation is to be given to the community.

December 23, 2015
Dangote steps down as Ayeni chairs Nascon

Mrs Yemisi Ayeni, a former finance director of Shell Nigeria Exploration and Production Company Limited (SNEPCo), has been appointed as chairman of the board of directors of NASCON Allied Industries Plc, following the resignation of Alhaji Aliko Dangote.

Ayeni, who is also currently a council member of the Nigerian Stock Exchange (NSE), emerged chairman of NASCON at the company’s board meeting held on December 15, 2015. Other directors in the newly constituted board included Mr. Paul Farrer as managing director, Olakunle Alake, Halima Aliko Dangote, Knut Ulvmoen, Sada Ladan-Baki, and Abdu Dantata.

December 21, 2015
THIRD RUNNER-UP Dangote: Making of Nigeria’s multinational brand

Dangote: Making of Nigeria’s multinational brand

In an economic environment buffeted by multifarious impediments all of them daunting enough to even to the most astute entrepreneur, and in a continent perennially in quest of elusive Foreign Direct Investment, 2015 would herald that historic threshold when the Nigerian brand would not only come to its own, but also showcase its famed derring-do.

Thanks to the man with the Midas touch, Aliko Dangote 58, billionaire investor, philanthropist extraordinaire and Africa and Forbes richest man with a personal fortune of $25 billion, the Nigerian brand finally emerged as a success story across the continent and beyond. With a string of new factory openings in the outgoing year, Dangote Cement, finally emerged as a truly giant Nigerian multinational.

In March, it commissioned its $250m plant in the Pout district of Senegal, with the capacity to produce 1.5 million metric tonnes annually, designed to serve the markets in Senegal, Mali and the Gambia. Three months after, in June, it was the turn of the 2.5 million metric tonnes cement plant in the Oromia region, Ethiopia to be commissioned. This was followed in August with the opening of the 250 million-dollar (N48.75 billion) cement grinding plant in Douala, Cameroon and the foundation laying of its 200metre jetty in Douala. The Cameroon plant, with capacity to produce 1.5 million metric tonnes of cement per annum (mmtpa) was described by Dangote as the “largest Greenfield project in a neighbouring country with which we not only share a boundary but also a long history of brotherly relationship dating from our colonial days”. That same month, the group inaugurated its 1.5 million metric tonnes per annum (mmtpa) Zambian plant valued at $400 million with a 30 megawatts coal plant to power the factory.

And finally in October, the Dangote Group opened its $500 million dollar 3.0 million metric tonnes per annum cement plant located in Mtwara District of Tanzania. The plant, designed to double the country’s annual output of cement is also expected supply the domestic market and export to landlocked countries in the region. Part of the Tanzanian package was a 75MW coal-fired plant to power the cement factory. The plants in South Africa and Nepal in far-east Asia are said to be due for commissioning for next year.

Like the mustard seed, the story that began in the back streets of Kano with the chief visioner, Aliko Dangote, hawking sweets, and later to trading in rice, sugar and other commodities, the business has today grown into a rich harvest of industrial complexes with diverse interests in manufacturing, oil and gas, Information Communications Technology.

From a humble beginning which started when Aliko Dangote’s late illustrious grandfather, the late Alhaji Sanusi Dantata provided him with a small capital to start his own business in Kano in 1977, the Dangote brand has emerged with a global presence in 16 countries, employing over 10,000 people.

Understandably, when Nigerians talk of Dangote, they refer to the vast conglomerates of Dangote Transport Limited, Dangote Cement Plc. (accounting for over 60% of Dangote Group revenue); National Salt Company of Nigeria Plc.; Dangote Flour Mills Plc.; Dangote Sugar Refinery Plc.; ; Dansa Foods Limited; Dansa Food Processing Limited; Dangote Textiles Limited; Dangote Holdings Limited, and Dangote Oil & Gas Industries International which has since ventured into petroleum product refining – which, for obvious reasons, are more familiar. Also among the pack are the relatively less known Blue Star Limited, Dancom Technologies; GreenView International Company Limited with US$28+ million investment in cement factory in Ghana; Sephaku Cement Limited a South African cement company in which it has 64% shareholding; Alheri Engineering Limited and Kura Holdings Limited – all of them money spinners in their own right.

Only in recent times has the world begun to pay attention to Dangote Foundation, the philanthropic arm of the group where yearly, Dangote spends millions for worthy causes in educational and healthcare institutions, sinking of boreholes and awards of scholarships. The foundation is presently constructing a N7 billion state-of-the-art Operating Theatre and Diagnostic Centre at the Murtala Muhammed Specialist Hospital, Kano to be completed next year.

The case of the building materials manufacturing arm – Dangote Cement – is however different. It is unquestionably, the proverbial hen that spins golden eggs for the group; its flagship company etched its own mark in global business.

Today, Nigeria, courtesy of the Dangote Group, can boast of a truly multinational Nigerian company in Dangote Cement in the class of players like South Africa’s MTN (telecommunications) and DSTV (entertainment). Although a late entrant compared with the multinational Lafarge, Dangote Cement, thanks to the singular vision of its founder Aliko Dangote currently controls a huge chunk of the Nigerian market. Its Obajana plant, Kogi State, with an annual output of 13.25 Mt is reputed to be the largest in Africa.

For his immense contributions to the nation’s business development and for his determination to conquer new frontiers of business, Aliko Dangote is second runner up to The Nation’s Man of the Year.

December 20, 2015
Dangote distributors get 150 trucks

Dangote Cement Plc yesterday distributed over 150 brand new trucks free to its distributors to ease the distribution of cement to consumers across the country. This represents the first phase of the firm’s ‘Redistribution Fleet Empowerment Programme’ under which it plans to give over 250 new targets in the next phase.

During the inauguration of the trucks in Lagos, its Group Chief Marketing Officer, Mr. Oare Ojeikere, said the gesture was aimed at ensuring that customers get products on a timely basis, while also empowering distributors for their efforts.

He said the trucks came at no cost to the distributors, adding that what was required was for them to reach a certain volume of sales in three years and get the trucks for keeps. “We are giving away 150 trucks in all; this is just one phase. Our biggest customers will get 20 tonnes trucks to ease their burden, while the next category of customers will get 15 and 10 tonnes trucks,” he said.

December 18, 2015
New investors indicate interest in former Dangote Flour Mills

New investors have shown early interests in acquisition of assets of Tiger Branded Consumer Goods (TBCG) Plc as the foreign core investor in the former Dangote Flour Mills Plc, South Africa’s Tiger Brands Limited, continued to evaluate all options for the restructuring of the lose-spinning Nigerian subsidiary.

Chief executive officer, Tiger Brands Limited, Peter Matlare, said there have been formal and informal approaches that indicate interests in the former Dangote Flour Mills’ assets but these have neither been evaluated nor any decision taken on the interests.

He said the board of Tiger Brands would work with all stakeholders to determine the way forward for the newly rebranded Tiger Branded Consumer Goods Plc and any material information and decisions would be communicated to the investing public.

Tiger Brands had last month announced that it has reached decision not to provide any further financial supports to Tiger Branded Consumer Goods Plc. The decision also coincided with the resignation of chairman of the company, Alhaji Aliko Dangote and other directors including Mr. Olakunle Alake, Mr. Asue Ighodalo and Mr. Arnold Ekpe. Tiger Brands then said it was exploring various alternatives with regard to its investment in Tiger Branded Consumer Goods.

Matlare explained that Tiger Brands had made significant investments in the former Dangote Flour Mills but the company continued to struggle with losses, which brought the board of Tiger Brands to consider either of two options of further recapitalisation or to find alternative option, the board subsequently settled for alternative options.

“A variety of options are being considered, which could include a partnership, a sale, a merger, but no decision has as yet been made,” Matlare said in response to questions on whether foreign core investor would consider merging TBCG with its other investments in Nigeria and short-to-long term plans for the troubled Nigerian company.

He, however, said the foreign core investor was not considering any further increase in its shareholding in TBGC. Many multinationals had in recent period been making efforts to increase their shareholdings in their Nigerian subsidiaries-many below 70 per cent had indicated plans to move to between 70-75 per cent.

He said the continued listing of TBCG on the Nigerian Stock Exchange will depend on whatever option is chosen for the business, stating that the foreign core investor would not give a commitment that it would sustain the listing of TBCG on the NSE in the light of envisaged corporate restructuring

He explained that the foreign core investor believed it made the right decision when it acquired the majority stake in the former Dangote Flour Mills (DFM) in 2012, but subsequent events impacted negatively on the fortunes of the company.

Matlare said the action taken on TBCG must not be mistaken for a vote of confidence on the Nigerian economy pointing out that Tiger Brands still retains substantial investments in Nigeria and would consider any further investment opportunities.

“We will look at all opportunities and consider them on their merits. This action is not a vote of no confidence in Nigeria, as Tiger Brands retains its 50 per cent interest in UAC Foods and its 100 per cent interest in Deli Foods. Africa remains fundamental to Tiger’s international growth strategy and we will continue to develop in these markets and invest appropriately to drive penetration. Despite some challenges in our African businesses, expansion in Africa represents a growth opportunity for the group,” Matlare said.

December 3, 2015
Pro-Biafra protest turns bloody

The peaceful protest embarked upon by the Indigenous People of Biafra (IPOB) turned bloody on Wednesday in Anambra, when the protesters were attacked by the Joint Task Force (JTF) that claimed the lives of about nine persons.

Also eight trucks belonging to Dangote group and a mosque at Sokoto road in Onitsha were burnt.

December 2, 2015
‘Dangote’s global expansion conforms to ECOWAS, WTO pacts’

The massive business expansion of the Dangote Group across Africa and around the world is in conformity to the extant agreements among Economic Community of West African States (ECOWAS) member-states and members of the World Trade Organisation (WTO).

This was the submission of an expert in international trade and immediate past Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dr. John Isemede.

He spoke to reporters in Abuja, last weekend.

Dr Isemede, who is a consultant with the United Nations Industrial Development Organisation (UNIDO), expressed satisfaction that the Dangote Group has been complying with relevant laws of doing business in Africa.

He said the ECOWAS Trade Liberalisation Scheme (ETLS) was drawn by member- states to eliminate barriers to businesses in the region.

The NACCIMA chief, who had worked in Ghana, said the country could not meet 30 per cent of its cement need until Dangote established a cement factory there.

He said: “Not only that, the company has been creating jobs, doing lots of charity works through its Dangote Foundation in Ghana and elsewhere, as well as contributing to the growth of African economy.”

Noting that there are many Ghanaian products in the Nigerian market, Isemede, who is also a member of the Federation of West African Chambers of Commerce and Industry, added that the two countries have a very cordial political and economic relationship.

The ETLS of which African countries are signatories is aimed at gradually creating a customs union among member states through the establishment of a free trade zone and the adoption of a common external tariff.

Isemede urged Nigerians to form business association in any country they find themselves, stating that this will help protect them against undue attacks from citizens of host countries. He said globalisation is reducing boarders to mere bus stops, urging Africans to work together in line with the collective agreement signed by ECOWAS and WTO.

Also speaking, the Chief Technical Advisor to the United Nations Industrial Development Organisation (UNIDO), Mr. Charles Malata, said in the past there were no boundaries in Africa, and that the only limitation was the quality of products.

He said UNIDO is working on the National Quality Infrastructure Project for Nigeria to promote quality businesses and break barriers to businesses on the continent.

Mr. Malata said quality and standard should be the baseline for moving products in Africa, as it would help in building trust. The UNIDO Technical Advisor added that no West African country should cry foul of domination by products from another West African country. Rather, they should strive to improve their own standards and invest in commodities they have comparative advantage.

“As a country, one has to take a strategic decision by investing in where it has comparative advantage,” he said, calling on investors from Africa to strive to build trust in their businesses. He also stated that all barriers to regional and international trade must be removed for the continent to join the rest of the world in development and globalisation.

November 27, 2015
Blockmakers endorse Dangote Cement’s N300m promo

The President, Block Makers Association of Nigeria, Chief Rashidi Adebowale has assured the Management of Dangote Cement that his association is solidly behind the company in its efforts at enriching 3,783 of its customers and make two Nigerians millionaires daily.

Speaking in Lagos, Adebowale said Dangote Cement’s management has proveda to be truly Nigerian with the introduction of the best grade of cement and also the decision to enhance the standard of living of its distributors and customers.

He said: “We are very grateful as an association to the Management of Dangote Cement for this mega promo. I am very optimistic that our members will benefit from this promo. Giving out N300 million at this time of the year is really gratifying. We are happy. We have also instructed our members across the country to aggressively patronise Dangote Cement so as to benefit from the promo.”

November 25, 2015
Dangote to receive TASUED’s doctorate degree

African leading business mogul and President of Dangote Group of Industries, Alhaji Aliko Dangote, will, on Saturday, be conferred with the honorary doctorate degree of the Tai Solarin University of Education, Ijagun.

In a letter addressed to Dangote dated November 3, TASUED management said the award received unanimous approval of the Senate and Governing Council of the university. It said the honour was in recognition of Dangote as a “leading African entrepreneur, builder of people and institutions, unmatched philanthropist and lover of education”.

Dangote, in a response dated November 17, signed by his Honorary Adviser, Mr. J. O. Makoju, and addressed to the Vice Chancellor of TASUED, Prof. Oluyemisi Obilade, accepted the award.

He thanked the members of TASUED’s Senate and Governing Council for the honour and described TASUED as a “highly reputable university”.

The world-class business guru, who will be honoured with the late matriarch of the Awolowo family, Chief HID Awolowo, and former President Olusegun Obasanjo, at the 10th anniversary and Sixth and Seventh convocation, said he was honoured to be in company of illustrious eminent Nigerians like “former President, General Olusegun Obasanjo and our revered matriarch, the late Chief H.I.D Awolowo”.

He also congratulated the university: “We want to use this opportunity to commend the university for the achievements made in just a decade and to wish you a successful convocation ceremony.”

November 25, 2015
Dangote, others flag off campaign on cooking gas

Dangote Group yesterday flagged off a nationwide pilot scheme to encourage Nigerians to embrace the use of Liquefied Petroleum Gas (LP Gas), called cooking gas.

At the event held in Abuja, the Federal Capital Territory (FCT), Vice President of the Group and President of the Gas to Health Initiative (GTHI), Sani Dangote, said the initiative was aimed at protecting the health of Nigerians and preserve the environment from deforestation.

Dangote, who also launched a new book by the Secretary of GTHI, Mrs. Betty Ugona, said the book addresses key issues of acceptability of LP Gas, focusing on four cardinal elements: efficiency, benefits, sensitisation and the empowerment of core users of LP Gas.

He bought 200 copies of the book titled: “Who Cooks it Feels the Brunt.”

“The book strikes on the root causes of low LP Gas usage and offers practical steps to achieving improved usage of LP Gas,” he said.

Dangote said with abundance resources and a population of over 165 million, Nigeria still ranks amongst the lowest in LP Gas consumption in ECOWAS member countries, with a per capita consumption of about 1.8kg, trailing countries like Senegal at 8.46kg, Cote D’Ivoire at 9.3kg and Ghana at 10kg per capita.

He regretted that, despite being rated as the leading producer of LP Gas in Africa, with annual production of about 3.2 million MT and 12th in global ranking, the country still ranks abysmally low in terms of consumption of LP Gas and its application to other relevant domestic, industrial and social purposes.

According to him, about 56 per cent of energy needed for cooking within Nigeria is supplied by fuel wood (firewood), particularly in the rural areas, adding that the effect of this is the negative impact on citizens’ health, the environment and the economy.

“Deforestation and its effects (desertification, soil erosion, landslides, etc.), which can be traced directly to the high demand for cooking energy, has become a major issue in Nigeria over the years as we currently lose about 350,000 – 400,000 hectares annually,” he said.

Dangote said in view of its environmental and socio-economic malaise, there is an urgent need to switch from firewood and other alternative sources of energy to LP Gas.

“While there are a number of reasons for the low rate of success in the switch to LP Gas, inadequate awareness and sensitisation of the populace has been identified as the greatest culprit,” he added.

He stated that the flag off of the “Operation Mama Put/Local Food Vendors Conversion to LPG Usage” nationwide project is notable, as the project is designed to take a practical approach to addressing this lack of awareness and sensitisation.

He said: “By providing the ‘Mama Put’ women with LP Gas starter kits, the project hopes to make converts, and eventually, ambassadors of these members of the community, who will in turn create micro awareness of the benefits of LP Gas consumption.”

Chairman of the occasion Mr. Anthony Ogbuigwe regretted that despite that Nigeria produces 10 times the LP Gas it consumes, the country ranks very low in Africa.

Mrs. Ugona attributed the success of the campaign to the support of its sponsors, which include Mr. Dangote, saying that the initiative has also received support from market women. They are those in Utako Market, Garki International Market, Garki Model Market, Mpape Market Yanyan Market and Kubwa market among others.

She said studies have shown that about 2.6 billion people around the world rely on traditional use of bio-mass for cooking and heating purposes, which results in the inhalation of toxic fumes leading to over four million premature deaths annually.

At the event, the Permanent Secretary in the Ministry of Environment, who was represented by a Deputy Director, Mrs. Osunkoya O, said the ministry was ready to support the initiative as its aims were in line with those of the ministry.

She said deforestation and gas flaring were of utmost concern to the ministry. “The initiative will without doubt help in the protection and preservation of the environment and the forest in particular,” she said.

The Chief Operating Officer (CEO) of Ultimate Gas Limited and Public Relations Officer of the initiative, Mr. Auwalu Ilu, said the initiative became necessary in view of the health hazards the use of firewood poses to Nigerians.

November 13, 2015