The Nation Newspaper

Tag: Dangote

  • Jonathan, CJN, Fashola, Dangote for book launch

    A book, The Attorney-General: Chronicles and Perspectives, which looks at the office of the Attorney-General of the Federation (AGF) will be launched on March 23, in Lagos.

    The book is dedicated to Nigeria’s longest serving AGF and Minister of Justice, and retired judge of the World Court, Prince Bola Ajibola(SAN).

    The foreword was written by a retired Chief Justice of Nigeria(CJN), Justice S.M.A. Belgore.

    The book features varying perspectives of the office of the AGF, its demands, impacts and challenges.

    The Managing Director, Law Pavillion Mr Ope Olugasa, said the book, which impacts on the direction and quality of justice  also chronicles the lives and contributions of Nigeria’s past AGs.

    The Chief Justice of Nigeria(CJN) Hon. Justice Aloma Mukhtar is expected to chair the launch.

    The chief launcher is Alhaji Aliko Dangote and the co-launchers include Dr. Oba Otudeko and Chief(Dr.) Molade Okoya Thomas while Mr Awa Kalu (SAN) will review the book.

    Those expected as special guests include President Goodluck Jonathan, former President Olusegun Obasanjo, the Governor of Lagos State, Mr Babatunde Raji Fashola; his Ogun State counterpart, Senator Ibikunle Amosun and the AGF and Minister for Justice, Mr Mohammed Bello Adoke.

  • Dangote, Adenuga on list of the rich

    Dangote, Adenuga on list of the rich

    Two Nigerian billionaires have made the Forbes’ list of the world’s richest.

    Dangote Group of Companies President Aliko Dangote is number 43, moving up from 76 last year, on the list of about 1,500 billionaires. His net worth is $16.1 billion.

    Globacom chief Mike Adenuga Jnr. is number 267 on the list, with a net worth of $4.7 billion.

    Mexican telecoms giant Carlos Slim is, once again, the world’s richest person, followed by Bill Gates. Amancio Ortega of Spanish retailer Zara moves up to No. 3 for the first time. He is the year’s biggest gainer, adding $19.5 billion to his fortune in one year. He moves ahead of Warren Buffett, despite the fact that the U.S. investing legend added $9.5 billion to his fortune. This is the first year since 2000 that Buffett has not been among the top three.

    Forbes said the ranks of the world’s billionaires reached all-time highs. The 2013 Forbes Billionaires list now boasts 1,426 names, with an aggregate net worth of $5.4 trillion, up from $4.6 trillion. The U.S., once again, leads the list with 442 billionaires, followed by Asia-Pacific (386), Europe (366), the Americas (129) and the Middle East & Africa (103).

    Resurgent asset prices are the driving force behind the rising wealth of the super-rich around the globe. While last year almost as many fortunes fell as rose, this year gainers outnumbered losers by four-to-one. Many new names made the list, thanks to free-spending consumers. To name but a few: Diesel jeans mogul Renzo Rosso at $3 billion, retailer Bruce Nordstrom at $1.2 billion and designer Tory Burch at $1 billion.

    Dangote retains his position as Africa’s richest man for the third year in a row. The past year has been eventful for 55-year-old Dangote. In October, he sold off a controlling stake in his flour milling company to Tiger Brands of South Africa. He pocketed $190 million in cash. In February, his Dangote Sugar Refineries acquired a 95% stake in Nigerian sugar producer Savannah Sugar, in a bid to maintain its dominant position in the Nigerian sugar industry.

    Dangote stepped up his philanthropy in the past year, giving over $100 million to causes ranging from education to health, flood relief, poverty alleviation and the arts. He also acquired a yacht, which he named after his mother, Amiya. Dangote started building his fortune more than three decades ago when he began trading in commodities, such as cement, flour and sugar, with a loan he received from his maternal uncle. He delved into full production of these items in the early 2000s and went on to build the Dangote Group, West Africa’s largest publicly-listed conglomerate, which now owns sugar refineries, salt processing facilities and Dangote Cement, the continent’s largest cement producer. A fitness buff, Dangote jogs every day.

    Adenuga built a fortune in mobile telecom and oil production. He founded Globacom, Nigeria’s second largest mobile phone network, in 2006. It has 24 million customers in Nigeria, operates in the Republic of Benin and recently acquired licences to roll out in Ghana and Cote d’Ivoire. His Conoil Producing is one of Nigeria’s largest independent exploration companies, with a production capacity of 100,000 barrels of oil per day. Adenuga made his first fortune at 26 in the 1970s by distributing lace and other materials.

    Other Africans who made the list include Mohammed Al-Fayed, Isabel dos Santos and Desmond Sacco.

    More women have joined the ranks of the world’s wealthiest. Of the 1,426 people on the new 2013 Forbes list of the world’s billionaires, 138 are women. That’s up from 104 women last year. New women billionaires include fashion designer Tory Burch and Hong Kong finance executive Pollyanna Chu.

    The world’s richest woman is Liliane Bettencourt, the 90-year-old heiress to a 30% stake in cosmetics group L’Oreal. With a fortune that Forbes pegs at $30 billion –up $6 billion from last year – she ranks ninth wealthiest overall. A surge in the value of L’Oreal shares over the past year helped put her back among the top ten richest for the first time since 1999. Bettencourt, a widow who suffers from dementia, was replaced on the L’Oreal board in February 2012 by her grandson, Jean-Victor Meyers. In 2011, her fortune was put under the guardianship of her daughter, Francoise Bettencourt-Meyers, after a three-year legal battle.

    The second richest woman is Christy Walton of the U.S., who inherited her husband John Walton’s stake in Wal-Mart when he died in a plane crash in 2005. She clocks in at $28.2 billion — up nearly $3 billion from a year ago due to an increase in the price of Wal-Mart stock.

    The third richest woman is yet another Walton family member — Alice Walton, daughter of visionary retailer Sam Walton, who founded Wal-Mart with his brother in 1962. Alice Walton, ranked number 16, has a net worth Forbes estimates $26.3 billion, up several billions from the previous year. Walton opened her Crystal Bridges Museum of American Art in Bentonville, Arkansas in 2011. It features works from her personal collection.

     

  • Dangote, bricklayers meet

    CEMENT giant, Dangote has met with bricklayers at its head office in Lagos to promote cordial relationship.

    The firm’s Regional Manager, Marketing Services, Mr Johnson Olaniyi, assured the bricklayers of the company’s assistance.

    He said the firm would focus on their training and retraining , adding that the company has been to 15 states.

    The company said, plans to train more artisans, adding that tools would be provided for them.

    Responding, the Chairman, State Planning Committee for Block and Concrete Builders in Lagos State, Mr Segun Banjoko, said the group discussed with the company on how to sustain their relationship, adding that both parties would chart the way forward.

    A few weeks ago, the Lagos State Bricklayers Association protested the alleged insensitivity by the management of Dangote Cement and shoddy treatment of its members.

    The General Secretary Mr Akinmoladun Olaniyi said the group on the protested because Dangote Cement neglected its members who constitute the highest users of the firm’s product. He said efforts to get the Dangote’s attention did not yield remit.

    He said: “The fact remains that the association is the highest patrons and users of Dangote Cement throughout the state, with over 40,000 members, 500 zones, 57 sub-head offices who are directly involved in the sale of the products.

    “Eighty-five per cent of cement used in Lagos is from Dangote and he did not deem it fit to better the lives of the end users,” he said.

    The members who carry placard bearing different inscriptions called on the cement maufacturing giant to address their plight, or risk blacklist ing of its products in the state.

    Olaniyan stated that despite the support from it members in ensuring that the products get good patronage from its consumers, Dangote Cement had not made any impression in their lives.

    He said: “Up till date the association still lacks a befitting secretariat and other basic amenities. There is nothing to improve our health as our members toil in the sun and rain endlessly making billion of naira for Dangote Cement.”

    He said having written several letters and sent representatives to Dangote Cement, their request had not receive any response; rather its members were treated were fairly treated.

    “The man thinks we are illiterates and, therefore, we cannot do anything. We have approached the company several times, but no good response is forthcoming. Look at other big companies like Dunlop and other paint companies, they have made life better the members who make use of their end products but in the case of this we are really relegated,” he added.

    There is never a time that the Dangote is ready to reckoned with. This different in other sectors. For instance, Dunlop has done something for the association of vulcanizes. Why cant Dangote emulate this,” he said.

  • About Dangote’s new addition

    About Dangote’s new addition

    Alhaji Aliko Dangote, Nigeria’s acclaimed wealthiest businessman, appears to be dashing ahead of his peers with the speed of light. The Kano-born business mogul recently consolidated his reputation as Africa’s richest man as he took delivery of a new yacht worth $23 million. The custom-made luxury yacht arrived in Nigeria a few days ago and currently sits in front of Femi Otedola’s Zenon Place on Walter Carrington Crescent, Victoria Island, Lagos.

    Named Mariya, the yacht is a 2013 edition. His company, Dangote Group, has become a giant with sculptured physique and boundless energy. It enjoys the front seat in many sectors, and business experts say its assets can only be calculated with the aid of the most sophisticated adding machine. He was rated Africa’s richest man 2012 by Forbes magazine last year, with a net worth of $11.2 billion.

  • Eagles to get $15,000-a-man for Cote d’Ivoire duel

    Eagles to get $15,000-a-man for Cote d’Ivoire duel

    Super Eagles’ players will each receive $15,000 if they beat Cote d’Ivoire and qualify for the semi-final of the 2013 African Cup of Nations on Sunday.

    A top Nigeria Football Federation official reconfirmed an MTNFootball.com exclusive of several weeks ago when he also disclosed each player will be $20,000 richer if they triumph in the semi-final.

    For victory in the championship game on February 10 inside the National Stadium in Johannesburg, each player will pocket another $30,000.

    Each player received $30,000 a day after the team qualified for the quarterfinal on Tuesday.

    Team sponsor Guinness has also made a financial commitment for goals scored at the AFCON, while the Eagles are expecting billionaire Aliko Dangote to splash more cash after they reached the last eight.

    Each player was paid about $80,000 when Nigeria finished third at the 2010 Nations Cup in Angola.

    On Sunday afternoon in Rustenburg, the team will face 1992 champions Cote d’Ivoire.

    The winners of this match-up will clash with the winners of the quarterfinal between hosts South Africa and Mali.

     

  • Cash rolls in for Eagles

    Cash rolls in for Eagles

    Super Eagles will get $30,000 each for reaching the African Nations Cup quarterfinal, while sponsors and businessman Aliko Dangote will also splash on the team.

    Nigeria defeated Ethiopia 2-0 in last group game on Tuesday to book a quarterfinal match-up against Cote d’Ivoire on Sunday, MTNFootball.com reports.

    Team secretary Dayo Enebi will hand over the qualification bonus to the players who are still basking in the euphoria of their qualification on Wednesday.

    Officials have already promised more financial windfall.

    Rivers State Governor, Rotimi Amaechi who gave the team $100,000 has also told them that Dangote has promised them a huge sum of cash if they advance to the last eight of the tournament.

    Team sponsors Guinness also promised $5,000 for each goal scored by Eagles and so the boys have so far fetched $10,000 after their 2-0 win over Ethiopia.

  • Dangote crashes sugar price by 25%

    Dangote crashes sugar price by 25%

    Dangote Sugar Refinery Plc (DSR) has announced a 25 per cent reduction in the price of its product in response to the drop in price of sugar at the international commodity market.

    In a statement, Dangote said it had crashed the price of its 50kg bag from N8, 900 to N6, 660.

    Managing Director of the company, Abdullahi Sule, attributed the development to the recent reduction in the price of raw sugar in the international market.

    The reduction, according him, “reflects the trends in the international market where the prices of raw sugar have dropped from about $0.26 to the current $0.19.” He said the company has a policy of passing the benefits of price reductions to the customers.

    On the price reduction rocking the market and some other sugar refineries, alleging that DSR reduced the sugar prices to a level where it makes it difficult for competition to survive, Sule explained that Nigeria is not a sugar producing nation, hence raw sugar that are refined locally are imported from Brazil by industry players and that there was nothing to hide.

    The company’s chief executive explained that raw sugar is traded openly on the international commodities market with the prices available for all to see and verify.

    “DSR only reacted to a reduction in the international price of sugar in the last one year for the benefit of its customers. As a responsible corporate citizen, we are committed to the socio–economic growth of the nation’s economy and there is no need for this horrendous accusation,” he said.

    He said in line with the company’s strategy of passing the benefits of price reduction to its customers, it reduced the prices of our 50kg sugar bags from N8, 900 to N6, 600 (VAT inclusive) with effect from December 16, 2012.

     

     

     

     

  • Gates, Dangote foundations join Kano to fight polio

    The Bill and Melinda Gates Foundation yesterday in Kano signed a Memorandum of Understanding (MoU) with the Kano State Government and the Dangote Foundation to eradicate polio.

    The MoU is a three-year collaboration to improve immunisation and primary health care in the state.

    Its objective is to attain 80 per cent coverage of polio immunisation with basic vaccines by 2015.

    Kano has one of the lowest routine immunisation coverage rates in Nigeria. It reaches less than 40 per cent of children with life-saving vaccines.

    The foundations will work with the government to provide operations and management support to the newly established Kano State Primary Healthcare Board and accelerate routine immunisation across the state.

    Governor Rabiu Musa Kwankwaso said: “We welcome the support Alhaji Aliko Dangote, who donated N600million to support the programme, as well as the Gates Foundation for their commitment to saving the lives of children through the partnership.

    The governor urged the Interim Management Committee of the 44 local governments to increase their efforts in the routine immunisation of children so that polio can be stamped out of Kano.

    Dangote said: “Now is the time for Nigerians to come together to strengthen the quality of our health systems. Routine immunisation is the fundamental cornerstone of every primary healthcare system.

    “All children should have access to vaccination, which has been shown to be one of the most effective investments for a healthy and productive life.”

    The Chief Executive Officer of the Bill Gates Foundation, Mr Jeff Raikes, said: “It is essential that states like Kano improve the levels of routine immunisation and save children’s lives from measles, tetanus and whooping cough to eradicate polio once and for all.

    “Nigeria, with the help of its partners, is implementing new approaches to improve routine immunisation to reach the most remote and vulnerable children.”

    The Executive Secretary of the National Primary Healthcare and Development Agency Dr Ado Mohammed said the agency would support programme with vaccines.

  • Flood: Dangote committee targets N50bn

    The Aliko Dangote -led Presidential Committee on Flood Relief and Rehabilitation plans to raise N50billion to ameliorate the sufferings of flood victims across the nation.

    This was disclosed when the business mogul was received by Governor Seriake Dickson over the weekend.

    Dangote said the committee has raised N12billion including N1.8bn donated by 36 states.

    He assured that the committee will be transparent in the management of the funds raised for victims.

    Dickson lamented the state is the most impacted in terms of the magnitude of the destruction.

    He pointed out all local government areas in the state were heavily impacted, stressing: ”I don’t think there is any state that has the situation where all local government areas were heavily impacted.”

     

  • Dangote seeks data of flood victims

    The Chairman of the Presidential Committee on Flood Relief Materials and Rehabilitation of Flood Victims, Alhaji Aliko Dangote, has called for an accurate data of the persons affected by the recent flood in some parts of the country.

    He said having their records would enable the committee know what they have lost and what could be done to assist them.

    Dangote spoke in Benin City yesterday when he led other members of the committee to deliver relief materials to the Edo State Government for the flood victims.

    He said efforts would be intensified by the committee to raise the N100 billion target for the rehabilitation.

    Dangote assured that the victims would be better off when they returned to their communities.