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Tag: Dangote

  • Dangote, Omoigui-Okauru, Orji get Independent award

    Independent Newspapers Limited (INL), publishers of Daily Independent, Saturday Independent and Sunday Independent newspapers, will on Saturday hold its Men of the Year 2012 Investiture.

    Three distinguished Nigerians are to be honoured with INL awards.

    They are Alhaji Aliko Dangote, President/Chief Executive, Dangote Group; Mrs. Ifueko Omoigui-Okauru, Managing Partner, Compliance Professionals Plc and immediate past Executive Chairman of the Federal Inland Revenue Service (FIRS), and Abia State Governor Theodore Orji.

    According to INL’s Managing Editor, Mr Akpandem James, the Chairman of National Human Rights Commission, Professor Chidi Odinkalu, is the Guest Speaker. He will speak on Amnesty, Human Rights and The Rest of Us.

    James said the Vice Chancellor of the Federal University, Ndufu Alike Ikwo, Ebonyi State, a Distinguished Professor of the University of Lagos, Oyewusi Ibidapo-Obe, will preside at the event, adding that top echelon of the public service, political chieftains, captains of industries, and importantly, friends, associates and well wishers of the honourees will attend.

  • Dangote to invest $60m in sugar in Kwara, Kebbi states

    Dangote to invest $60m in sugar in Kwara, Kebbi states

    President, Dangote Group of Companies, Alhaji Muhammed Aliko Dangote,, has promised to invest over $600 million in the production of sugar in Kwara, Kebbi and Sokoto states.

    He also expressed satisfaction with the state government efforts at revolutionalising agricultural practice in the state.

    Dangote stated during a courtesy call on the Kwara State Governor, Dr Abdulfatah Ahmed at the Government House, Ilorin.

    In a statement, the Chief Press Secretary to Governor, Alhaji Abdulwahab Oba, said Dangote intend to replicate what it did in the cement industry, by targeting about 65million tonnes of sugar which he said could produce about one million jobs for the people.

    He said in the next five years, the company would produce and grow two million tonnes of sugar, as part of efforts to ensure that Nigeria becomes self-sufficient in consumables instead of depending on importation.

    He said Nigeria was wasting quite a lot of money in the importation of about two million tons of sugar, adding that the company has identified Patigi local government area for the sugarcane plantation. He expressed the hope that with the cooperation of the people and the state government, the project would take-off before the end of the year.

    Governor Ahmed said his administration was very committed to working with investors in its bid to transform the economic lives of the people.

    Ahmed assured Dangote that his administration would create the enabling environment for would-be investors to operate, coupled with adequate security for the growth of the economy.

    The Governor said Nigeria would never get it wrong if it invested in agriculture as the northern part of the country was endowed with arable soil which could be utilized for agriculture as a foreign exchange earner for the nation.

  • Investors approve N6b dividend for Dangote Sugar

    Investors approve N6b dividend for Dangote Sugar

    Shareholders of Dangote Sugar Refinery on Monday approved payment of N6 billion as cash dividend for the immediate past year, representing a dividend per share of 50 kobo.

    At the Annual General Meeting (AGM) in Lagos, shareholders praised the performance of the company.

    National Coordinator, Pragmatic Shareholders Association of Nigeria, Mrs Bisi Bakare, said the prudent method employed by the management of the company led to 25 per cent increase dividend payout from N3.6 billion to N6 billion.

    According to her, 2012 performance was unique because 60 per cent of the company’s refinery got burnt and the company still made good profit to increase dividend from 30 kobo to 50 kobo.

    National Coordinator, Progressive Shareholders Association of Nigeria, Mr Boniface Okezie, said the 50 kobo dividend was quite impressive, considering the challenges the company faced during the period under review.

    “We are satisfied because it has not been easy for Nigerian companies. Dangote has done what the government could not do in terms of job creation. If the government can tackle security issues, companies will perform better,” Okezie said.

    In his address, chairman, Dangote Sugar Refinery (DSR) Plc, Alhaji Aliko Dangote, said that the company would have paid higher dividend but it needs to retain funds for the expansion of its refinery.

    According to him, the company’s target was to achieve local production of 1.5 million metric tonnes of raw sugar per annum by year 2018 harvest season.

    He assured that the outlook for the company was promising noting that this year would see better performance.

    He outlined that the company would use competitive prices to increase its sales volumes and profitability.

    He however noted that the new policy by the Federal Government on new sugar master plan, which is expected to take off by the year 2020 stipulates a 60 per cent tariff payment on raw sugar import as against current five per cent rate.

    He nonetheless assured shareholders that the board and management would continue to do everything within their powers to consolidate on the performance and sustain its leadership position in the industry.

     

  • How Dangote, UACN, others are reviving stock market

    How Dangote, UACN, others are reviving stock market

    On Friday, the stock market hit a level not seen since its crash in 2008. It rose by almost two per cent. Dangote Cement, UACN,banks,  and offshore investors are playing key roles in the market’s rebirth, writes OLUKOREDE YISHAU

    Friday was a good day for the stock market, which crumbled in 2008. The market peaked at a capitalisation of N12.62 trillion in March 2008. But by October 2008, it fell drastically from its peak of 65,213 points.

    No thanks to the global financial and local banking crises, the market’s value was reduced to N6.27 trillion in November 2011. This led to a crisis, which almost wrecked nine banks, until the Central Bank of Nigeria (CBN) intervened, with the Asset Management Corporation of Nigeria (AMCON), which bought up the non-performing loans from the banks.

    Between 2005 and March 2008, total issues by corporate organisations rose from N412.7 billion in 2005 to N1.34 trillion in 2007. Market capitalisation of all quoted companies rose from N2.5 trillion in 2005 to N12.1 trillion in March 2008.

    It was a boom later discovered to have been fuelled by malpractices. Issuers and operators were found to have manipulated share prices to sell overvalued stocks to investors.

    A lot of banks were discovered to have used depositors’ funds to pump up shares.

    It was not surprising when market capitalisation plummeted to N4.99 trillion in 2009.

    In 2011, investors lost N1.4 trillion. Aggregate market capitalisation of all quoted companies dwindled from N7.914 trillion to N6.533 trillion. Almost all indices at the (Nigerian Stock Exchange (NSE) were in the red. Total trading value dropped by 20 per cent to N634.92 billion. Average daily transactions also declined by 19 per cent to N2.68 billion.

    Many individuals have lost almost their entire investments. They are yet to recover, but if the almost two percent rise of the market on Friday is anything to go by, observers believe the pre-November 28, 2008 boom may soon return.

    The rise was attributed to the conglomerate UACN Plc, the banking sector and Dangote Cement Plc.

    The index closed 1.76 percent higher at 35,109 points.

    UACN’s shares hit N64.68 per share, representing the maximum 10 per cent up for the taking; Union Bank gained 10 percent to have a value of N9.78 per share and Dangote Cement recorded 3.82 percent to a record high of N185 per share.

    These are indeed good times for UACN, which last Thursday released a data showing that its 2012 pre-tax profit rose by 53.6 percent to N10.74 billion, from N6.99 billion the previous year.

    The company said its turnover rose by 16.8 percent to N69.63 billion, compared with N59.64 billion in 2011.

    The company, which has interest in food business with South Africa’s Tiger Brand, offered its shareholders a dividend of N1.60, compared with N1.5 paid the previous year and a bonus issue of one share for every five held.

    It is not surprising that Dangote Cement is helping the stock market. The first quarter of the year was good for the leading cement producer, with three plants in the country and plans to expand in 13 other African countries. Last week, it announced its impressive unaudited results for the first quarter of 2013.

    The highlights of the unaudited report include a consolidated group revenue of N95.4 billion (up 39.5 per cent), and gross profits of N66.0 billion ( up 64.7 per cent).

    Within the first quarter, sales volumes rose to 3.33 million tonnes, representing about 40 per cent growth.

    Chief Executive of Dangote Cement, Devakumar Edwin, said the company’s business in the first quarter started on a good note.

    He said: “The year has begun well for Dangote Cement and our 38 per cent increase in volumes far outpaced the Nigerian market’s strong growth of 16 per cent. Our gas supply has been better this year and that has driven margins upwards from the first quarter of 2012, when our new capacity at Ibese and Obajana was just coming on-stream.

    “We are increasing our focus on delivering directly to our customers and have made it easier for them to order and pay for our cement. This has allowed us to improve our position in the market and we remain confident of a good year.”

    The company’s audited report for 2012 shows that the group’s operations in Nigeria recorded N285.6 billion as gains.

    The CEO said: “In the first half of the year (2012), we launched 11 million tonnes of new capacity that brought Nigeria to self-sufficiency in cement production. Because of our investments there is no more need for Nigerians to buy foreign cement.

    “By the end of 2012, we were preparing to make Nigeria an exporter of cement to neighbouring countries and in the first quarter of 2013 we realised that goal, to the benefit of the Nigerian economy. Soon, we hope to be manufacturing cement in Senegal as we expand into other African countries to supply a basic but profitable commodity that is vital to Africa’s growth.

    “Current trading is strong. We estimate that demand for cement in Nigeria increased by almost 16 per cent in the first quarter of 2013,” he said; adding that the firm’s volumes rose by substantially more than the market’s growth rate in the same period, boosting the firm’s optimism for a very positive business year.”

    Dangote controls about 70 per cent of the cement market, with the three other main producers of cement – Lafarge WAPCO, UNICEM, and Ashaka Cement, scrambling for the rest.

    Speaking on Friday, the President of Dangote Group, who also doubles as NSE president, Aliko Dangote, said Nigeria was on the way to becoming the gateway to African capital markets.

    Dangote, Africa’s richest man, spoke at the 52nd Annual General Meeting (AGM) of the NSE in Lagos. He said the NSE had invested N40 million in the Nigerian Association of Securities Dealers Ltd (NASD) to boost the market. He said the investment was made last year.

    NASD is a platform for the trading of unlisted equities, bonds and money market instruments.

    As a way of further boosting the stock market, he said N50 million was invested in FMDQ OTC Plc, a firm registered to carry out the business of securities dealings.

    Dangote said: “We made a strategic decision to invest in FMDQ to broaden our market reach, diversify revenue stream and to remain at the forefront of an evolving globally competitive financial market.”

    Apart from the contributions of the NSE’s management, Dangote Cement, UACN and the banks, offshore investors have also shown more interest in the market. So, the price surge has been attributed to them.

    So, is the market on the way to full recovery? Many dealers believe so. They said operators were capitalising on the growth in the economy, expanding consumer base and the opportunities created by the privatisation of the power sector.

    “The market is being driven largely by investors’ reactions to the positive financials posted by the banking and consumer sectors, and the sustained growth in the economy.

    “If you look at the American stock index, it has surpassed its pre-2008 level and Nigerian stock is still below half of its peak in 2008, so we have room to grow further,” Rasheed Yussuf, a stock broker, told Reuters.

    The chairman, Securities and Exchange Commission (SEC), Suleiman Ndanusa, said the stock market now had global competitive edge. He said the dividends of the reforms in the market in the last three years are now being felt.

  • Dangote, UBN’s Union Global, others get deadlines to reduce shareholdings

    Dangote, UBN’s Union Global, others get deadlines to reduce shareholdings

    Alhaji Aliko Dangote, the core investor in Dangote Cement Plc; Union Global Partners Limited, the core investor in Union Bank of Nigeria Plc and other core investors in Tourist Company of Nigeria, Nigeria Police Force (NPF) Microfinance Bank and Studio Press have been given deadlines to sell down their domineering equity stakes in the companies or issue new shares to the investing public to dilute their shareholdings.

    The core investors in the five companies were mandated by the Nigerian Stock Exchange (NSE) to either sell down or dilute their shareholdings to enable the companies to meet the crucial 20 per cent free float requirement for the main board of the Exchange.

    A report on companies in violation of the 20 per cent free float obtained by The Nation showed that Dangote Industries Limited, the holding company of Alhaji Aliko Dangote; and core investor in Dangote Cement has up till October 2014 to sell down or dilute its shareholdings in the cement company.

    Union Global Partners is required to either sell down or dilute its shareholdings on or before June 2017 while NPF Microfinance Bank has up till the end of next month to increase its public float. Union Global Partners Limited, a special purpose vehicle that included many investment firms including African Capital Alliance (ACA), investment funds of The Netherland and United States Governments and other Nigerian investors.

    By the expiration of the deadlines, the core investors are mandatorily required to have completed partial divestments or dilution of their shareholdings to free 20 per cent equity stake for public holding, unless the management of the NSE grants fresh waivers and extensions for the companies. In the extreme instance, a company with deficient public float may opt to delist its shares.

    The Nation’s checks indicated that Dangote Industries may divest as much as N396 billion and Union Global Partners may need to sell shares worth more than N10 billion, according to market valuations.

    Dangote Industries currently has about 94.9 per cent majority equity stake in Dangote Cement, falling short of the minimum public float by about 14.9 per cent. With this, Dangote Industries would have to sell about 2.54 billion ordinary shares of 50 kobo each if it chooses the divestment option.

    Union Bank of Nigeria falls short of the minimum float by 6.0 per cent, implying either a divestment of some 1.02 billion ordinary shares by the core investors or issuance of supplementary shares to general investing public.

    Also, NPF Microfinance Bank needs to add 5.32 per cent equity stake to meet the 20 per cent float, indicating potential divestment of 122 million ordinary shares. The core investor in Studio Press, which has the lowest deficiency rate of 3.98 per cent, would need to sell about 24 million ordinary shares or explore other means to dilute shareholdings. Tourist Company of Nigeria has the highest deficiency rate of 18.69m per cent, indicating possible divestment of some 420 million ordinary shares.

    The NSE’s report indicated that the timelines for the compliance with the 20 per cent minimum public float were given to the various companies after they had applied for waivers from the Quotations Committee of the NSE. The companies were said to have outlined plans to meet the minimum public float, which the NSE took into consideration in extending the timeframe for them to comply with the minimum public float.

    They are however required to provide quarterly disclosure reports to the NSE on the efforts being made to fully comply by the deadlines.

    Besides the companies with deficient floats, the 20 per cent public float also prevents core investors in several companies including Conoil, Cadbury Nigeria, Dangote Flour Mills and Dangote Sugar Refinery from acquiring additional equity stakes. Already, these core investors hold more than 70 per cent.

    Public float is technically a synonym of public shareholder and it refers to the shares of a quoted company held by ordinary shareholders other than those directly or indirectly held by its parent, subsidiary or associate companies or any subsidiaries or associates of its parent company; its directors who are holding office as directors of the entity and their close family members and any single individual or institutional shareholder holding a statutorily significant stake, which is five per cent and above in Nigeria.

    Thus, public shareholders and public float do not include shareholders or shares held directly or indirectly by any officer, director, controlling shareholder or other concentrated, affiliated or family holdings.

    Stock markets maintain minimum public float to prevent undue concentration of securities in the hands of the core investors and related interests, a situation that can make the stock to be susceptible to price manipulation. Besides, it provides the general investing public with opportunity to reasonably partake in the wealth creation by private enterprises.

    The recently revised listing rules of the NSE stipulates that the public shall hold a minimum of 20 per cent of each class of equity securities of a company quoted on the main board, 15 per cent of each class of equity securities of a company quoted on the Alternative Securities Market (ASeM) and 10 per cent of each class of equity securities of a dual-listed company. Prior to the review, the minimum public float for the main board of NSE was 25 per cent.

    The global trend for public float had however tended to be upward than downward. India had recently increased its public float to 25 per cent while Hong Kong also maintains 25 per cent float.

     

  • Dangote Foundation donates $.5m to UNICEF to fight measles

    Dangote Foundation donates $.5m to UNICEF to fight measles

    The Dangote Foundation has donated $500,000 (about N79.15 million) through the United Nations Children’s Fund (UNICEF) to support the government’s response to recent measles outbreak across Nigeria.

    The donation was announced in Lagos when a delegation of UNICEF, led by its Country Representative, Ms. Jean Gough, visted the foundation’s president, Alhaji Aliko Dangote.

    Gough hailed the foundation for its gesture.

    She said: “Public/private sector interventions, such as these in the health and other sectors, including water and early childhood development, are the way forward for Nigeria to improve the well-being of Nigerian children.”

    The grant is a major contribution to Federal Government’s fight against measles, which is among the leading causes of child deaths in Nigeria.

    Dangote said: “We have a common synergy with UNICEF in the areas of health, education and nutrition and we hope that our efforts will encourage even more private sector engagement with on-going efforts to improve the well-being of Nigerians.”

  • AFCON 2013: Eagles beg Dangote, Uba to redeem pledges

    AFCON 2013: Eagles beg Dangote, Uba to redeem pledges

    Super Eagles players have sent passionate pleas to business mogul Aliko Dangote and oil magnate Ifeanyi Uba as well as others who have made pledges to the team for winning the 2013 Africa Cup of Nations in South Africa in February to redeem their pledges.

    Two prominent Europe-based Eagles and two top officials of the team told SportingLife in confidence that some of the pledges made by prominent persons in the society have not been redeemed.

    A Super Eagles defender disclosed, “We are happy that the Federal Government has made us happy and proud by promptly redeeming its pledges and even backed it up with national honours. We are very grateful and this will spur us on to put in our all to win the 2014 World Cup ticket. But we are pleading and using this medium to remind our amiable and respected fathers like Aliko Dangote, Ifeanyi Uba, Alhaji Ishiaku Rabiu, Cross River State and other prominent Nigerians to redeem the pledges they made”, he pleaded.

    A top official of the team who also spoke on condition of anonymity also told SportingLife, “We are just trying to remind prominent Nigerians that have made pledges to us to please honour their words. We know that they might have been delayed as a result of logistics or otherwise. But redeeming these pledges would go a long way in encouraging the players to do more since we are playing 2014 World Cup qualifiers and we also have the FIFA Confederation Cup to play on.

    The other top Eagles official also reeled out the pledges made by these prominent Nigerians. “Alhaji Aliko Dangote promised us N300 million, Chief Ifeanyi Uba made a pledge of $500,000, Alhaji Ishiaku Rabiu also made a pledge of $500,000 while the pledge of N25 million made by Cross River is yet to be redeemed”, the team’s top official revealed.

    He also showered praises on the Federal Government for setting the ball rolling by the FG’s largesse which was awards and cash prizes. “The Federal Government has really surprised us with its awards and cash gifts. We are also very grateful to the Chairman of Globacom, Chief (Mike) Adenuga for honouring the team in a big way. We can’t forget the support of the Lagos State Governor Babatunde Fashola, Chief Emeka Ofor, Cadbury PLC and also Akwa Ibom State for fulfilling their pledges”, the source thanked the above mentioned personalities, states and companies.

  • Dangote, Akinrinade, Falana, others condole with Fayemi on deputy’s death

    Dangote, Akinrinade, Falana, others condole with Fayemi on deputy’s death

    THE President of Dangote Industries Limited, Alhaji Aliko Dangote, has joined other eminent and well meaning Nigerians in mourning the late Deputy Governor of Ekiti State, Mrs. Funmilayo Olayinka. Dangote, who paid a condolence visit to Governor Kayode Fayemi, at the Government House in Ado-Ekiti yesterday, described the death of Mrs. Olayinka as a great loss not only to Ekiti State but the entire country. Former Chief of Defence Staff, Lt.-Gen. Alani Akinrinade; the Senator representing Ondo North Prof. Ajayi Boroffice; Ekiti State Caucus in the House of Representatives, and Lagos lawyer, Mr. Femi Falana (SAN) also visited. The Representatives include Mr. Opeyemi Bamidele, Mr. Bimbo Daramola, Chief Robinson Ajiboye, Dr. Ife Arowosoge and Mr. Bamidele Faparusi. Dangote said: “It is a great loss and all of us will end up leaving one day. At God’s appointed time, all of us will leave. “We pray for the repose of her soul, we urge her family to take it easy although it is not easy to lose somebody of that status. “She has served the people well, she has served the state well and she has served you (Fayemi) well.” Dangote, in the condolence register,wrote: “This is a great loss not only to the people and government of Ekiti State but to Nigeria at large. “May her gentle soul rest in perfect peace”. Akinrinade wrote: “You hardly let us know that you were enduring so much pain and anxiety. You were always cheerful and diligent in your contributions to our struggle. “We are all grateful to have you with us. May your gentle soul rest in peace.” Boroffice said Mrs. Olayinka made a remarkable impact within the short time she found herself in politics and added value to governance. The senator said the late deputy governor emerged on the scene at a time when there were few women in politics and went on to make a difference as acknowledged by all. Boroffice wrote: “It is my belief that our great sister has been translated from mortality to immortality. The legacy she leaves behind will continue to inspire us to give more to our people.” Bamidele who spoke on behalf of the House of Representatives members from the state said Ekiti people and other Nigerians mourning Mrs. Olayinka have no choice but to come to terms with her death. He said, “The Ekiti State Government under your leadership knows that you did your best to keep her alive. There is little we can do other than accepting this as a reality of life. “We pray that God will grant you the fortitude to bear this loss and God will grant you the grace and wisdom to fill the vacuum that has just been created.” Falana said Mrs. Olayinka emerged a leader in the state by dint of hard work and “conducted herself with grace and sartorial elegance”. The rights activist revealed that Mrs. Olayinka told him to be free to criticize the government when necessary saying she took all her criticisms with grace and maturity. Falana said further: “I could remember that during my daughter’s wedding in Lagos, she made it despite her critical health condition at that time and she sang and danced vigorously. “She and the governor impressed me with their tenacity in the struggle to reclaim the mandate and after their inauguration, she urged me to remain critical of the government. “We are not mourning her but we are celebrating her. She and the governor transformed Ekiti State from the land of brigandage to the land of honour.” Former Minister of Education, Prof. Tunde Adeniran described Mrs. Olayinka as a conscientious and patriotic Nigerian who demonstrated great discipline, humility and loyalty in public service. He prayed God to console the family of the deceased and the people of Ekiti State on the loss. Fayemi in his response thank his visitors for their support saying nobody can question God on the death of his deputy. The governor described Mrs. Olayinka’s death as a collective loss to everybody and a grief that is shared by all. Fayemi said, “This is a collective loss to all of us, we all share in the grief. It is a loss to our party, a loss to our state and a loss to all of us. “She put in her very best even at the height of excruciating pain, she was ready to bear the pain of others. We cannot question God, He knows best, his plan is not our plan. “God knows why He took her away from us, away from the trials and temptations of this world. “We shall miss her greatly and her immediate family, we will miss her tremendously. Other personalities who visited include former military governor of old Rivers State, Air Vice Marshal Ernest Adeleye (rtd) and chairman of the board of the Federal Roads Maintenance Agency (FERMA), Mr. Jide Adeniyi

  • Dangote, NGC to invest $20m on fuel conversion

    Borkir International Gas and Energy Company, a subsidiary of Dangote Group and Nigerian Gas Company (NGC) is to invest $20 million on the purchase and sale of gas and conversion of fuel vehicles to Compressed-Natural-Gas(CNG).

    The two companies have signed a Memorandum of Understanding (MoU).

    The 20-year contract agreement is to harness natural resources, such as gas, locally and effectively and to provide the country with a chit that can convert fuel vehicles into gasoline vehicles at an affordable price.

    Speaking to reporters in Lagos, the Chairman, Borkir International Gas and Energy Company, Sanni Dangote, said the company plans to have eight stations.

    He said two stations are on ground and the others would be ready in the next five months.

    “The company expects to spend close to $100 million in the next couple of years to cover all the major highways and major cities in Nigeria.

    “People’s perception could be a challenge. They may be considering whether or not it is economical to convert into CNG or how reliable it will be as well as the availability of the gas in different stations.

    “But the truth is that everybody knows that gas is a cleaner energy.

    “And for availability and reliability, we decided to invest into the initiative to make the gas available at a fixed price based on price contract.

    “We have opened conversion centres on major roads and highways where vehicle owners can diagnose their engines and other parts of their vehicle before conversion.

    “We have got 5,000 trucks signed into our contract and this gives us the platform to demonstrate that this project will survive.”

    Unlike the price fluctuation of PMS, Dangote reiterated that the advantage of gas is that there won’t be any price fluctuation since it is a product that is based on price contract.

    “The price contract can be guaranteed for a long period, either for six months or one year.

    “Another advantage of the chit we are introducing is that it is optional.

    “If you run out of gas, you can run on diesel at a full range. Vehicle owners are not restricted.

    “Also, a one year warranty of performance will be given to every converted vehicle,” he said.

    The NGC Managing Director, Saidu Mohammed, said the agreement is to harness gas locally.

    He said the NGC, which operates over a 1,500-kilometre network and various stations has been propagating the use of gas.

  • Dangote, Adenuga, Ibeto for dinner with Jonathan

    President Goodluck Jonathan will tomorrow in Abuja host a special dinner for chief executive officers (CEOs) of major companies in the country.

    Also expected to attend the strictly-by-invitation dinner are governors, members of the Federal Executive Council (FEC) and members of the Diplomatic Corps.

    The event tagged: “A Centenary Dinner with Top Nigerian CEOs” is part of the year-long ceremonies marking Nigeria’s Centenary, the grand finale of which is slated for January 1, next year. The Centenary and all its activities is completely private sector-driven.

    Among the notable Nigerian CEOs expected to attend the dinner are Alhaji Aliko Dangote, Dr. Mike Adenuga, Chief Cletus Ibeto, Mr. Hakeem Bello-Osagie, Mrs. Stella Okoli, Mrs. Sola David-Borha and Ms. Evelyn Oputu.

    The celebrations are designed around the key concepts of unity, indivisibility, virility, progress and promise of the Nigerian Federation. It is intended to present an opportunity for Nigerians to count their blessings, celebrate their dexterity and resilience as a people. It is hinged on the fact that the story of Nigeria is one of admirable and remarkable progress. Nigeria’s 100th birthday therefore provide a wonderful opportunity for all Nigerians to proudly celebrate and share in the nation’s story of freedom, achievements and aspirations.