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Tag: Aliko Dangote

  • Dangote fertiliser plant will boost economic growth – Buhari

    Dangote fertiliser plant will boost economic growth – Buhari

    President Muhammadu Buhari has said the 2.5 billion dollar Dangote Fertiliser Plant located in Ibeju Lekki, Lagos will boost foreign exchange earnings and accelerate economic growth for Nigeria.

    TheNewsGuru.com (TNG) reports President Buhari made this known on Tuesday while inaugurating the three million metric tonnes per annum urea production plant.

    “This fertiliser plant is further expected to enhance our administration’s drive towards achieving self-sufficiency in food production in the country.

    “I commend the Chairman, Board and Management of Dangote Industries Ltd., for their business initiative in establishing this plant.

    “It will reduce our dependence on importation of fertiliser, create jobs, increase the inflow of foreign exchange and accelerate economic growth,” Buhari said.

    According to him, the establishment of the plant demonstrates the commitment of Dangote Industries Ltd. to the socio-economic development of the country and the well-being of Nigerians.

    The president expressed optimism that the investment in the plant would replicate the group’s earlier experience in the cement sector where it had become a leading name in Nigeria and across the African continent.

    He said: “Dangote Industries Ltd. has created thousands of jobs across Nigeria. It is the second biggest employer of labour in this country after the Federal Government.

    “This is very pleasing because job creation by the private sector will help to improve security and take thousands of youths off the streets.”

    The president said the nation also stood to gain extensively in forex earnings through excess production and exports from the plant.

    “I am informed that you have already started exporting to other countries including the United States, India and Brazil.

    “The coming on stream of the plant is creating huge opportunities in the area of job creation, trade, transport and logistics to earn significant wealth, reduce poverty and help to secure the future of our nation,” said Buhari.

    He noted that the agricultural sector was a critical aspect of the economy and availability and affordability of fertiliser would lead to increased yields for farmers.

    Buhari added that he was expecting a rise of new breeds of ‘agropreneurs’ who would take to farming and make the nation self-sufficient in food production.

    He said: “I want to assure all Nigerians that our government is focused on providing the enabling environment for the private sector to thrive.

    “We will continue to improve on infrastructure, power and security and other initiatives that will drive investments in our economy.

    “Furthermore, we are partnering with the private sector through a tax credit scheme for the rehabilitation of roads across Nigeria under Executive Order Seven.

    “We know good roads contribute to easy movement of goods and services across the nation thus reducing the cost of doing business and improving productivity.

    “We are also rehabilitating our railway lines and building new ones to lessen the burden on our roads and create an effective modern transportation network.”

    Mr Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), lauded the Buhari-led administration for the support to end the shortage of fertiliser in the country.

    Emefiele noted that this had led to a significant increase of active fertiliser blending plants in Nigeria from seven in 2015 to 48 in 2022.

    He said the import bill on fertiliser had not only dropped significantly but the country was now earning forex through the exportation of fertiliser.

    Lagos State Governor, Mr Babajide Sanwo-Olu, said the Lekki Free Trade Zone was conceived by former Governor Bola Tinubu in 2003 to attract investments to the state.

    He said the free trade zone today was host to Dangote Fertiliser Plant, which was the largest fertiliser plant in Africa and the second-largest in the world.

    The governor said there was also the 650,000BPD Dangote Refinery and Petrochemical Plant and the Lekki Deep Sea Port within the same axis, making it a prime investment destination.

    On their part, Mr Niyi Adebayo, Minister of Trade, Industry and Investment and Dr Mohammad Abubakar, Minister of Agriculture and Rural Development enjoined other companies to emulate the strides of Dangote Industries Ltd.

    Earlier, Alhaji Aliko Dangote, President, Dangote Industries Ltd., said the fertiliser plant would drastically reduce the level of unemployment and youth restiveness through the generation of direct and indirect employments.

    Dangote said: “Agriculture accounts for over 20 per cent of Nigeria’s Gross Domestic Product, and the country is a leading producer of various agricultural commodities.

    “The sector has the potential of becoming the biggest source of income for our nation, providing employment and raw materials for industries.

    “However, low fertiliser usage has been a major reason for low productivity in the sector.

    “It is common knowledge that nonavailability of the product, in quantity and quality, rather than affordability, is the primary constraint to the use of fertiliser.

    “Our goal is to make fertiliser available in sufficient quantities and quality for our teeming farmers, assuring greater agricultural output.”

  • World Cup 2022: I won’t go to Qatar if Ghana beat Nigeria – Billionaire, Aliko Dangote vows

    World Cup 2022: I won’t go to Qatar if Ghana beat Nigeria – Billionaire, Aliko Dangote vows

    Nigerian billionaire, Aliko Dangote, has said he will not visit Qatar to watch the 2022 FIFA World Cup if Nigeria fails to qualify.

    Dangote, Africa’s richest men said Nigeria qualifying to the world cup will bring pride to the Nation and not only him.

    Speaking on his visit to the Moshood Abiola National Stadium, the venue that will host Nigeria’s second leg against Ghana, he highlighted the significance of the Super Eagles qualifying for the World Cup.

    “It is not only important to me, but it is also important to all of us here, that is what will make us proud as Nigerians,” he said as quoted by sunnewsonline.com.

    He continued by adding that, should Nigeria fail to qualify, he has no business in Qatar.

    “If Nigeria does not qualify, I won’t go there,” he added.

    The Black Stars are looking to return to the tournament after missing out in the last edition in Russia in 2018.

    Nigeria who have played in the last three editions of the World Cup will look to qualify for the fourth consecutive time.

    The play-off ties will be played between March 24 and 29, 2022 with exact dates and kick-off times to be confirmed after CAF liaises with the two countries’ associations.

  • Dangote bags CILT Champion Award

    Dangote bags CILT Champion Award

    Africa’s wealthiest man, Alhaji Aliko Dangote, on Wednesday received the ‘Champion of CILT’ award, for his contributions to transport, logistics and supply chain management in Nigeria and Africa.

    A statement by Dangote Industries Ltd Media Office said the industry giant was conferred the award when the leadership of the Chartered Institute of Logistics and Transport (CILT) and its affiliates paid a visit to the Dangote Group Head Office in Ikoyi, Lagos.

    The statement said that Dangote, who is President/Chief Executive, Dangote Group, while accepting the award presented by CILT National President, Mrs Mfon Usoro, commended the institute.

    The CILT executives and its Women in Logistics and Transports (WILAT) were led by Usoro.

    Dangote urged the top officials to improve the transport sector in Nigeria.

    He promised to collaborate with the CILT in the areas of training and capacity building on transport, logistics and supply chain management issues.

    The business mogul stressed the need for adequate infrastructure, transport and logistics to boost the economy.

    He said that the Group could collaborate with the institute in the areas of transport and logistics, with training for the customers of the Group.

    On her part, Usoro said the visit was to inform Dangote about the change in the institute’s leadership, and to renew the relationship between the CILT and its corporate members in the Dangote Group.

    She noted the long relationship with the Dangote Group, which presently has five fellows of the institute, five Chartered members, 18 Members, and 47 affiliate Members of the CILT.

    Usoro commiserated with Dangote over the recent demise of the Group Vice President, Alhaji Sani Dangote.

    The immediate past president of the CILT, Mr Ibrahim Jibril is quoted as commending Dangote Group for creating wealth in Nigeria and Africa.

    He praised the group for building capacity in logistics, transport and supply chain management in Nigeria.

    Jubril reeled out Dangote’s achievements resulting in mass employment in Nigeria and across the continent.

    “This is a development that we have been keenly following and we are very much proud of what the Dangote Group is doing as led by the president himself.

    “On that note, we appreciate all that he has done, we appreciate all that the Dangote Group is doing, and at the end of the day we believe that this is what Nigeria should benefit from”, he said.

    The Dangote Group members in attendance include Group Executive Director, Special Duties and Group Chief Risk Officer, Dangote Industries Ltd, Dr Nike Fajemirokun; and Group Managing Director, Dangote Cement Plc, Mr Michel Puchercos.

    Also in attendance was the Managing Director, Greenview Development/Port Operations, Mr Akin Omole.

    On the CILT delegation were its International Vice President, Dr Usman Gidado; Founder WiLAT, Aisha Ali-Ibrahim; Vice President, East CILT, Peter Borlo; and CMILT/Chairperson WILAT, Khadijat Ifelola Sheidu-Shabi;

    Others are, Vice President, ENL Consortium, Princess Vicky Haastrup; National Executive Director, Paul Ndibe; Director, CLTL, UNILAG, Prof. Iyiola Oni, and Chairperson, Next Generation, Jafaaru Bello.

  • How Dangote maintained Africa’s richest man status despite global pandemic

    How Dangote maintained Africa’s richest man status despite global pandemic

    Aliko Dangote has retained his position as the richest man in Africa, with a net worth of $12.1 billion, according to the 2022 edition of the Forbes’ Top 10 Africa’s Billionaires List.

    This is contained in a post on their verified Twitter account @Forbes.

    According to the report, for 11th year in a row, Aliko Dangote of Nigeria is the continent’s richest person, worth an estimated $13.9 billion, up from $12.1 billion in 2021.

    This according to the magazine, followed a 30 per cent increase in the stock price of Dangote Cement, his most valuable asset.

    A surge in housing developments in Nigeria and growth in government infrastructure spending drove higher demand in the first nine months of 2021, analysts found.

    The report added that Africa’s billionaires were richer than they had been in years, despite the global pandemic.

    As a group, the continent’s 18 billionaires were worth an estimated $84.9 billion – a 15 per cent increase from twelve months ago and the most since 2014, when a larger number of billionaires–28–were worth a combined $96.5 billion.

    On average, the continent’s billionaires were worth $4.7 billion now, worth $3.4 billion in 2014 with soaring stock prices from Nigeria to Zimbabwe lifted the fortunes of these tycoons, as demand for products from cement to luxury goods ticked up.

    Jumping into the the number two from the list, spot–up from number four last year–was luxury goods magnate, Johann Rupert of South Africa.

    More than 60 per cent surge in the share price of his Compagnie Financiere Richemont–maker of Cartier watches and Montblanc pens–pushed his fortune to $11 billion, up from $7.2 billion a year ago, making him the biggest dollar gainer on the list.

    South African Nicky Oppenheimer, who formerly ran diamond mining firm DeBeers before selling it to mining firm Anglo American a decade ago, ranked number three, worth an estimated $8.7 billion.

    The biggest gainer in percentage terms–up 125 per cent was Strive Masiyiwa of Zimbabwe, worth $2.7 billion, up from $1.2 billion last year.

    Shares of Econet Wireless Zimbabwe, which he founded, rose more than 750% in the past year, helping to drive up the size of his fortune.

    Another gainer: Nigerian cement tycoon Abdulsamad Rabiu, who is $1.5 billion richer after taking yet another of his companies’ public.

    In early January 2022, Rabiu listed his sugar and food firm BUA Foods on the Nigerian stock exchange.

    He and his son retained a 96% stake in the company, which recently had a market capitalisation of nearly $2.8 billion. (Forbes discounts the values of stakes when the public float is less than 5 per cent).

    BUA Cement, in which he and his son had a 96% stake, listed in January 2020.

    According to the release, only two of the 18 billionaires are worth less than in 2021: Koos Bekker of South Africa, who dropped to $2.7 billion from $2.8 billion as the share prices of consumer Internet firms Naspers and Prosus fell more than 20per cent each.

    Mohammed Dewji of Tanzania, whose fortune declined to an estimated $1.5 billion from $1.6 billion a year ago, due to lower multiples for publicly traded competitors.

    The 18 billionaires from Africa, who were not new to the ranks, also hailed from seven different countries, South Africa and Egypt each had five billionaires, followed by Nigeria with three and Morocco with two.

    All of the continent’s billionaires were men; the last woman to appear in the ranks, Isabel dos Santos of Angola, fell off the Forbes list in January 2021.

    Forbes noted that they list tracked the wealth of African billionaires who resided in Africa or had their primary business there, thus excluding Sudanese-born billionaire, Mo Ibrahim, who is a U.K. citizen.

    The billionaire London resident, Mohamed Al-Fayed, an Egyptian citizen. Strive Masiyiwa, a citizen of Zimbabwe and a London resident, appeared on the list due to his telecom holdings in Africa.

    It added that the Net worth were calculated using stock prices and currency exchange rates from the close of business on Wednesday, Jan.19.

    “To value privately held businesses, we start with estimates of revenues or profits and apply prevailing price-to-sale or price-to-earnings ratios for similar public companies.

    “Some list members grow richer or poorer within weeks-or days-of our measurement date,” Forbes said.

    Forbes is owned by Integrated Whale Media Investments and the Forbes family and it features original articles on finance, industry, investing, and marketing topics.

    It also reports on related subjects such as technology, communications, science, politics, and law.

  • Tiwa Savage questions why Dangote isn’t her father

    Tiwa Savage questions why Dangote isn’t her father

    Music sensation, Tiwa Savage has lamented and questions why Nigerian billionaire, Aliko Dangote wasn’t her father.

    She aslo pleaded with God to help with the money-making process.

    “I have one more meeting. It’s not easy looking for money o. God help me, but why my papa no be Dangote or something like that (may his soul Rest in Peace though)”, She wrote.

    The Koroba crooner had announced the death of her father on the 19th of July, 2021.

    In a star-studded elaborate ceremony on September 3, 2021, Tiwa Savage buried her father in Lagos, shortly after the release of her Extended Play project ‘Water and Garri’.

  • How my brother died in my presence – Aliko Dangote

    How my brother died in my presence – Aliko Dangote

    Alhaji Aliko Dangote, said doctors told him that his brother, Sani, would die in an hour, and that he died when it was time, “watching the life support machine going down until it stopped working.”

    Dangote stated this when the National Leader of the All Progressives Congress (APC), Alhaji Bola Tinubu, paid him a condolence visit on Friday in Kano.

    “We have always known that there is life and there is death; as Muslims, we don’t know who is next, and it can be today, tomorrow or even now.

    “That is why it is good to be good, so that when you get there, you will find out that you have done what you were asked to do on earth,” said Dangote.

    He said his brother’s death was a very tough time for the family, especially for him because they were almost bound together.

    “And having a brother like this, once you lose him, it is really very painful, because he died in front of myself, our mother and all his children.

    “The most painful thing is when you are told that your brother will be passing on in about an hour and you stand by watching as the machine is going down until it stopped working,” Dangote said.

    Earlier, Tinubu told Dangote that he was shocked to hear about the death of Sani.

    He described him as gentleman during his lifetime. “I call on the family to take heart and continue to pray for the repose of the soul of late Sani Dangote.

    “We are here not to just commiserate or console you, we are here together to mourn our dear brother.

    “Sani is not yours alone, he is a Lagosian and a great Nigerian and a friend and a brother to all of us here.

    “I am not a preacher, but I know what it means to suddenly lose a close relation, especially a brother.”

    Tinubu also condoled with the grandfather of the deceased, Alhaji Aminu Dantata.

    “Death is a demonstration of Allah’s will, it is not about money, because money cannot buy life.

    “We pray to Allah to forgive his sins and grant him paradise,” he said.

    Dantata thanked Tinubu for the condolence.

  • Africa’s richest man, Aliko Dangote loses brother, Sani

    Africa’s richest man, Aliko Dangote loses brother, Sani

    Sani Dangote, the Vice President of the Dangote Group and brother to the President of the group, Aliko Dangote, is dead.

    The death was confirmed in a terse statement by the Dangote Group on Sunday, with sources adding that he died in the United States of America after a protracted illness.

    Sani was said to have breathed his last on Sunday.

    The Dangote Group said in the statement: “INNA LILLAHI WA INNA ILAIHI RAJIUN!

    “It is with a heavy heart but with total submission to Almighty Allah that we announce the passing on of our Group Vice President, Alhaji Sani Dangote today 14th November, 2021.

    “May Allah SWT Grant him mercy and Admit him in Aljannat-al-Firdaus!”

    Before his death, Sani had investments in manufacturing, agriculture, banking and oil services.

    He also sat on the Board of several other companies, including Nigerian Textile Mills Plc, Nutra Sweet Limited, Gum Arabic Limited, Dangote Textile Mills Limited, Alsan Insurance Brokers, Dan-Hydro Company Limited, Dansa Food Processing Company Limited and Dangote Farms Limited.

    He was also the Deputy Chairman of the African Gum Arabic Producers Association and a two-time President of Lagos Polo Club in addition to being a professional polo player.

    Sani was a member of several Chambers of Commerce, a Fellow of the Chartered Institute of Shipping of Nigeria and President of the Fertiliser Producers and Suppliers Association (“FERSAN”).

    He was well known for his role as the chairman of Dansa Holdings, a subsidiary of the Dangote Group that produces beverages.

    He also owned Dansa Foods Limited, Dansa Energy, Sagas Energy Limited, Bulk Pack Services Limited, Dansa Agro Allied Limited, and Dangote Farms Limited.

  • Dangote refinery to expand employment capacity by 17,000

    Dangote refinery to expand employment capacity by 17,000

    President/Chief Executive, Dangote Industries Ltd., Alhaji Aliko Dangote, has revealed plans to increase human capacity at its Refinery Project site, from 40,000 personnel to 57,000 in the coming months.

    This is contained in a statement signed by Mr Anthony Chiejina, Group Head, Corporate Communications, Dangote Group on Sunday in Lagos.

    According to the President, Dangote group, the project currently employed 29,000 Nigerians and 11,000 foreigners at the 650,000 barrels-per-day world’s largest single refinery project, located in Ibeju Lekki area of Lagos State.

    This, he said was a ratio of about three Nigerians to one expatriate, with a projected increase for local talent with the new additions.

    The business mogul said the refinery project remained the biggest in Africa, and one of the biggest in the world, adding that many Nigerians were getting massive training as a way to build in-country capacity.

    He added that the construction of the refinery was informed by his desire to help the Federal Government, tackle the lingering issue of petroleum products’ importation.

    Dangote described the refinery project as an investment that would transform the economies of countries in sub-Saharan Africa.

    “It makes me feel terrible to see a country as big and resourceful as Nigeria with high population, importing all its petroleum products, so, we decided it is time to tackle this challenge.

    “It is not government’s responsibility alone to address the challenge of petroleum products’ importation in Nigeria. No, we have to collaborate with the government to tackle the issue of petroleum importation.

    “We are creating a lot of capacity in the country, which will be of great help for future oil projects in Nigeria, most especially, with the opening up of the oil industry through the new Petroleum Industry Act.

    “It means that the country can boast of human capacity, needed in the oil and gas sector.

    “Most of these Nigerians can compete anywhere in the world, in terms of electrical, welding, mechanical erection etc. We have actually created massive capacity,” he added.

    Dangote emphasised the need for the country to shift attention from crude oil export and diversify the economy.

    “We should not as a country, be comfortable with generating revenue from crude oil export alone, because tomorrow, people may not need crude oil.

    “If we do not move from crude oil to something else, we will have issues as a country. This is one of the things that I took upon myself to help address,” he said.

  • Rivalry war: Ganduje, others wade in, reconcile Aliko Dangote, Abdussamad Isyaka-Rabi’u over sugar plant saga [Photo]

    Rivalry war: Ganduje, others wade in, reconcile Aliko Dangote, Abdussamad Isyaka-Rabi’u over sugar plant saga [Photo]

    Governor Abdullahi Ganduje of Kano state has waded into the dispute between Dangote and BUA companies owned by two business moguls from the state.

    This is in order to resolve the lingering conflict among the two Kano State prominent indigenes Aliko Dangote and Abdussamad Isyaka-Rabi’u over the establishment of a Sugar plant by BUA.

    A statement by Abba Anwar, the Chief Press Secretary to the governor on Thursday in Kano, said the reconciliation meeting took place on Wednesday in Abuja.

    He said that Alhaji Aminu Dantata, Kano Emirate and the Kano State Council of Imams joined the governor in the reconciliation meeting.

    TheNewsGuru.com, TNG reports that recently there were reports that Dangote complaints about the establishment of a sugar plant by BUA International Limited in the Port Harcourt free trade zone, saying it was out of tune with export laws.

    Anwar said that after the meeting, Chairmen of both Dangote and BUA agreed to work together to supply enough sugar to satisfy the demand of the country.

    According to him, the meeting put a stop to all rumours that the duo was in dispute over sugar business control in the country.

    “They all dismissed allegations that Dangote was planning to see the increase of sugar price, thereby pressurising BUA to succumb to the increment. They described the allegation as baseless and lacking any iota of truth.

    “The meeting was seen as the zenith of other similar efforts to reconcile the two giants by the governor. Alhaji Aminu Alhassan Dantata played the role of a father during the meeting,” Anwar said.

    Present at the meeting were the Minister for Commerce, Trade and Investment, Mr Niyi Adebayo and representative of the Kano Emirate, Alhaji Aminu Dan-Agundi.

    Others are Chairman of the Council of Kano Imams, Sheikh Muhammad Nasir-Adam, the Chief Imam of Sheikh Ahmadu Tijjani Friday Mosque, Kofar Mata, Kano and the Chairman of NEPZA, Adamu Panda.

    All the two business moguls agreed to work together in unity for the growth and development of the nation.

  • TRENDING: Africa’s richest man, Aliko Dangote under fire for selling bag of cement for N1800 in Zambia, N3500 in Nigeria

    TRENDING: Africa’s richest man, Aliko Dangote under fire for selling bag of cement for N1800 in Zambia, N3500 in Nigeria

    Nigerians are not taking it easy with Africa’s richest man, Aliko Dangote for selling a bag of cement for N1,800 in Zambia and selling same for N3,500 in Nigeria; a N100 less of double the Zambian rate.

    According to reports, the Zambia Board of Commissioners of the Competition and Consumer Protection Commission said it ordered Lafarge Zambia Plc, Dangote Cement Zambia Limited and Mpande Limestone Limited to revert to the cement prices ranging between Kwacha 99 to Kwacha 110 (N1800 in naira) after there was uproar over its recent increment.

    TheNewsGuru.com, TNG gathered that the Board also fined Lafarge Zambia Plc and Mpande Limestone Limited 10% of their annual turnovers for the year 2019 and another 10% of their 2020 annual turnovers for price fixing and division of markets.

    The Board, however, said it was lenient with Dangote Cement Zambia Limited, for having cooperated with the Commission during investigations.

    According to Zambia News, the decision to fine Lafarge Zambia Plc and Mpande Limestone Limited was made during the 49th Board of Commissioners Meeting for the Adjudication of Cases held in Lusaka on March 30, 2021.

    This was after an exhaustive investigation by the Commission initiated in January 2020 following the Commission’s observation of a sustained increment of cement prices from an average of K55 to K100 per 50kg bag between July 2019 and January 2020.

    The continuous price increment of cement by the parties led the Commission to suspect that there was possible collusion and an agreement to fix the prices of cement and the Commission carried out investigations for a year.

    In a statement issued by CCPC Senior Public Relations Officer, Namukolo Kasumpa, the Board has also ordered Lafarge Zambia Plc, Dangote Cement Zambia Limited and Mpande Limestone Limited to revert to the pre-cartel prices ranging between USD 4.50 – USD 5 (K99 – K110) for a period of one year from the date of receipt of the Board decision pursuant to Section 59 (3) (b) of the Act.

    “Additionally, that Lafarge Zambia Plc, Dangote Cement Zambia Limited, Mpande Limestone Limited submit monthly average ex-works prices and any price adjustments be indexed to the exchange rate and be submitted to the Commission for review pursuant to Section 58 (1) of the Act,” the Board stated.

    When contacted a top staff of Dangote Cement said the company has not increased its pricing template since 2019. According to him, the retailers and other middlemen are responsible for the price differentials in the country.

    ‘We have not hiked the price of cement. If you observe any hike, it is not approved by Dangote Cement,’ he said.

    Meanwhile, Nigerians in their numbers in a reaction to the price difference took to their social media accounts to bash African richest man for neglecting his home front to make others elsewhere happy.

    They also demand immediate reversal to the Zambian price model if he (Dangote) wants to continue business in Nigeria.

    See reactions below;

    https://twitter.com/TweetHeartNG/status/1379946275827818498?s=20

    https://twitter.com/OmoMamaCele/status/1380004383417634817?s=20

    https://twitter.com/TosinAdeleye16/status/1379735482825895936?s=20

    https://twitter.com/Ibn_bhadmus/status/1379682095472185345?s=20