Tag: Dangote
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Dangote, only Nigerian on Bloomberg’s top Billionaires’ lists
Africa’s richest man, Aliko Dangote has significantly moved up in the World billionaires’ list as his fortune increased to $17.8 billion as against last year’s $14.8 billion to emerge as the only Nigerian in the Bloomberg’s yearly top billionaire lists. Other Africans on the lists are three South Africans. They are Johann Rupert and…
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Just in: AMCON speaks on Dangote refinery debt
The Assets Management Corporation of Nigeria (AMCON) has trashed viral reports that it is about to seize the Dangote Refinery over an alleged $7 billion debts owed to Nigerian banks. Several online news platforms orchestrated a report that the 650,000 barrels a day Dangote refinery, which is yet to start production. is already prostate with…
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Police raid MMS news office, harass workers over report on Dangote refinery’s ‘indebtedness’
Four armed policemen on Tuesday raided the headquarters of Kings Communications Limited, publisher of Money Management Series (MMS) Plus newspaper in Lagos. According to reports, the incident came a few days after the newspaper turned down Dangote Group’s demand to pull down a story about a possible take over of the Dangote Refinery by the…
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Why we are borrowing to acquire 20 percent stake in Dangote Refinery – NNPC
The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, on Tuesday explained why the national oil company is purchasing a stake in Dangote oil refinery. The refinery is expected to begin production in 2022 with an installed 650,000 barrels per day capacity. It has been touted as a groundbreaking project for energy…
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Dangote $2 billion urea fertilizer Plant pushes out 120 trucks everyday
After months of speculations, Dangote Urea fertilizer is now finally on sales nationwide and it currently pushes out a minimum of 120 trucks per day across the country Group Executive Director, (Strategy, Capital Projects & Portfolio Development) · Dangote Industries Limited, Devakumar Edwin, revealed to the press over the weekend that the Plant which…
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Dangote assures Tanzania govt of increased investment
… Promises to woo more investors to Tanzania President of Dangote group, Aliko Dangote on Monday assured the new President of Tanzania, Samia Suhulu that Dangote group will increase its investment in the country and inform investors all over the world, that Tanzania is now a place to invest. Dangote currently has invested about $770million…
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Hijackers of Dangote’s truckload of cement in Enugu State arrested
With the price of cement ever increasing in the country, two suspects who allegedly attacked and hijacked a Dangote’s truckload of cements in Enugu State have been arrested. The Enugu State Police Command’s Public Relations Officer, ASP Daniel Ndukwe made this known in a statement on Sunday, revealing the incident happened within Nsukka-9th Mile Expressway…
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Senate moves to liberalise cement policy in Nigeria
The Nigerian Senate on Tuesday debated a motion on the need for liberalization of cement policy in Nigeria. TheNewsGuru.com (TNG) reports the motion was moved by Senator Lola Ashiru and five other Senators. Senator Ashiru noted that the Nigerian cement market is oligopolistic in nature with three players. Dangote Cement has 60.6%, Lafarge Africa 21.8%…
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Lamentation galore as cement prices soar in South East
Prices of cement has increased by 67 per cent in the South East states of Abia, Anambra, Ebonyi, Enugu and Imo, engendering a lamentation galore. A market survey at various wholesale and retail shops in the zone by NAN shows that the price of the product has increased almost by double when compared to the…
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Global rise in demand cause of high cost of cement in Nigeria – Dangote
The management of Dangote Cement Plc has attributed the high cost of cement in Nigeria to global rise in demand for cement as a result of the Coronavirus disease (COVID-19) crisis. Mr Devakumar Edwin, the company’s Group Executive Director in charge of Strategy, Portfolio Development and Capital Projects made this known in a statement he…