Author: Victor Ogunyinka

Sustainability: Dangote Cement commits to carbon emission reduction for business optimisation

Post author By Victor Ogunyinka
Post date October 16, 2024
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Feeds vulnerable communities, empowers children, widows

As part of activities marking the 2024 Global Sustainability Week, leading Cement manufacturer, Dangote Cement Plc has reached out to vulnerable and deprived communities across its business operations with food items and unveiled skills acquisition and educational empowerment initiatives.

This is just as the President/Chief Executive of Dangote Group, Aliko Dangote assured all stakeholders that all his Business Units are committed to optimising their operations to contribute to the attainment of net zero within the global stipulated timeframe.

The reach out initiative, which is one of the hallmarks of the 2024 Dangote Sustainability Week themed “Business Optimisation for Net Zero – The Dangote Journey” saw Dangote Cement identifying the vulnerable groups comprising of children, widows, and the aged. About 250 children and 75 households benefitted from the gesture. The initiative, which was being carried out simultaneously in all the business operations of the Company in Nigeria and other locations across Africa, had the Lagos event held at Ikosi-Ketu in Kosofe Local Government Area of Lagos State.

In his remarks to kickstart the group’s Sustainability Week, Aliko Dangote said the issue of sustainability is a subject that is critically important, not just to Dangote Industries, but for the future of humanity.” “As one of Africa’s largest conglomerates, Dangote is responsible for leading the way in sustainable business practices. The world is facing an urgent climate crisis, and businesses must be at the forefront of the transition to Greenhouse Gas (GHG) emission reduction and energy efficiency,” he said.

According to him, this year’s theme conveys the Company’s support for the United Nations Framework Convention on Climate Change’s goal to stabilise greenhouse gas concentrations in the atmosphere at a level that will curb human-induced interference with the climate system.

“This must happen within a timeframe sufficient to allow ecosystems to adapt naturally to climate change, to ensure that food production is not threatened, and to enable sustainable economic development. At Dangote, we started this journey with a strategic focus on the 7 Dangote Sustainability Pillars (cultural, economic, operational, social, environmental, financial, and institutional) which drive how we do business, and named – The Dangote Way,” the foremost industrialist said.

He emphasised that “in our ongoing journey towards Net Zero, we embrace this Week both as an opportunity and a challenge. It requires us to rethink the way we do business, to be willing to take risks, and to collaborate with partners across industries.”

Speaking during the empowerment programme, the Head, Sustainability at Dangote Cement Plc, Dr. Igazeuma Okoroba said the manufacturing giant has been committed to sustainability. She noted that this year’s sustainability afforded the Cement Company another opportunity “to demonstrate our love for humanity by sharing our sustainability message and showing support to the residents of our host communities.”

Represented by the Sustainability Manager, Dangote Cement, Dr. Oyelola Oyekemi, Igaezuma said, “we all know that the economic situation has contributed to an increase in households with limited access to health and sanitation, proper nutrition, education, and a safe living environment. For this year’s Sustainability Week, Dangote Cement recognises that families and children living in squatter settlements often endure hardship. The growing population of our society has also contributed to the development to the scarcity of jobs, affecting many households as well.

“While some of you work as small business owners and others are in between jobs and many do not even have the skill to help them get the jobs, these challenges limit not just adults but also children’s potentials to become responsible citizens who will transform Nigeria tomorrow,” Okoroba added.

She noted that “for this reason, Dangote Cement implements this charity outreach to support a more sustainable society. We believe your dreams and aspirations for improved health and sanitation, good nutrition, education, and clothing will come true if the private sector supports the government’s efforts. Our visit today is not only to give donations, but it also aims to pave the way for long-term developmental impacts, contributing to the UN Sustainable Goals. And the goals are, Goal 1, No Poverty, Goal 2, Zero Hunger, and Goal 11, Sustainable Cities and Communities.” According to her, contribution to these goals will create a more stable and nurturing environment that promotes family welfare and sustainable communities.

The chairman of Omojuwa Estate Community Development Association (CDA), Mr. Kinyomi Olaniewaja described the programme as timely and would benefit the community considering the present economic hardship in the country. He commended Dangote Cement for the good gesture, emphasising that it was the first time such humanitarian programme would be brought to the community.

Also in his remarks, the Grand Patron of Isokan Ifesowapo CDA, Alhaji Mamuda Ibrahim showered encomium of the management of Dangote Cement for the initiatives designed to bring succour to the vulnerable ones. He then called on other organisations to emulate Dangote Cement and reach out to the less-privileged especially on special occasions such as the Sustainability Week celebrations.

Tags dangote cement, Dangote sustainability

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Food Security: Dangote Cement Ibese donates agricultural inputs to farmers in HostCom

Post author By Victor Ogunyinka
Post date September 4, 2024
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Trains farmers on applications

Determined to boost food production and enhance socio-economic development of its host communities, Dangote Cement, Ibese Plant has donated agricultural supplies to local farmers. This initiative is part of the company’s broader empowerment programme designed to ensure food security for the people.

In what has become an annual programme, 60 farmers from the 17 host communities of the Cement Plant received fertilizers, herbicides, and knapsack sprayers to aid them in the upcoming farming season.

During the presentation event at Ibese, the farmers also received training on “Integrated Pest Management and Crop Protection,” which covered the application of the donated inputs as well as general pest management and crop protection techniques.

Director of the Ibese Plant, Roy Uttam, explained that this donation is part of Dangote Cement’s Social Investment drive, which focuses on four key areas: Education, Health, Empowerment, and Infrastructure. He emphasised that the company’s community investments and their positive impacts on local residents demonstrate Dangote Cement’s commitment to adding social value to its host communities.

“Today, sixty farmers across our 17 host communities are being trained on the theme ‘Integrated Pest Management and Crop Protection’ and each will go home with 2 bags each of 50KG NPK 15:15:15 and Urea Fertilizers, 3 litres of Force Up Herbicide and 15 litre capacity Knapsack Sprayer.”

According to him, the gesture aimed to enhance the productivity of the participating farmers, strengthen food security, and boost revenue across the agricultural value chain in the host communities. “It is our hope that this intervention will positively impact the production of garri, fufu and kokoro, which are the major foods in the host communities.”

Mr. Uttam noted that climate change and extreme weather conditions have significantly impacted crop production and agricultural pests. He highlighted that inconsistent rainfall this year has negatively affected farmers’ productivity in the first planting season. Experts predict that these challenges may continue to impact food harvests in 2024 and beyond.

He noted “Today’s gathering is twofold, because apart from the distribution of farm inputs, we have also engaged the services of an agricultural experts who will equip the farmers with information on best practices to remain resilient even in these times of uncertain climate trajectory.”

Recalling past support initiatives, Uttam revealed that since the start of the Community Development Agreement (CDA) in 2022, 180 farmers from the Ibese Plant’s host communities have received training, farm inputs, and tools. These efforts have had a significant impact on the local economy. He assured that the Cement Company is committed to continuing its support for farmers across the host communities.

Uttam emphasised that the distribution of farm inputs underscores the strong relationship between the Plant and the host communities. He noted that such empowerment programs can only thrive in a peaceful and stable business environment.

“We do not take the support of our stakeholders, both young and old, for granted and as committed in the CDA, we will continue to strive to complement the effort of the Government towards the socio-economic development of the local communities.”

The Plant Director acknowledged the crucial role farmers play in sustaining every community, emphasising that their daily efforts in tilling the land to ensure food availability are essential to human existence.

To maximize the positive impact of Dangote Cement’s contributions to enhancing farmers’ productivity, he urged the beneficiaries to utilize the provided resources to expand their farms. He encouraged them to elevate their communities to become the leading food producers of Yewa and Ewekoro, and to contribute to Ogun State’s overall agricultural success.

“I also implore you to also continue to get updated with new developments in the agriculture space and as much as possible, embrace the use of technology to remain competitive in this rapidly changing world. At Dangote Cement, Ibese, we assure you of our unflinching commitment to complementing the Government’s effort through value adding initiatives geared towards the overall development of the Community on a continuous basis,” Uttam concluded.

In his remarks, Chairman of the Communities’ Representatives, Dayo Ogunyinka, expressed gratitude to Dangote Cement’s management for the intervention. He highlighted that the farmers’ empowerment comes at a critical time, as nearly 80 percent of the incomes in these communities are spent on food. Ogunyinka noted that the donated implements would greatly assist the farmers in achieving better yields and bumper harvests. He urged the farmers to take the training seriously, as it would provide essential guidance on the proper use of the donated items.

Speaking on behalf of the beneficiaries, farmer Waheed Orisatola from the Abule-Oke host community assured that the farmers would honour Dangote Cement’s support and use the implements as intended.

Tags Dangote fertliser

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Dangote Cement Gboko commits to sustainable infrastructural development of HOSTCOM

Post author By Victor Ogunyinka
Post date August 29, 2024
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The management of Dangote Cement, Gboko Plant has declared that its host communities are critical stakeholders in its business operations and, as such, their developmental needs are given high priority.

Gboko Plant Director, Louis Raj, emphasised the company’s unwavering commitment to the infrastructural and socio-economic development of the host communities. He assured that every segment of the host communities would benefit from the social investments being made by the company.

Addressing a recent report alleging neglect of the communities, the management clarified that the cement company has always fulfilled its Corporate Social Responsibility (CSR) commitments and has maintained a robust, mutually beneficial relationship with community members.

Mr. Raj noted that the company has been diligently implementing the Memoranda of Understanding (MOUs) with the host communities and has extended its CSR efforts to include sustainable environmental practices, capacity building, and infrastructural development.

He further stated that the Gboko Cement Plant operates in full compliance with environmental and other government regulations. “It is on record and verifiable that all government agencies responsible for industrial ecological assessment have periodically visited the Gboko Cement Plant and certified that it operates within approved industrial environmental limits. The Federal Ministry of Environment, Benue State Agency of Environment, National Environmental Standards and Regulations Enforcement Agency (NESREA), and other oversight agencies can attest to these claims.

“Whenever an incident of ecological concern arises, the company takes prompt action to ensure proper remediation, and, in some cases, provides appropriate compensation to affected community members.”

He explained that the company has actively contributed to alleviating water crises in several communities, even those beyond its immediate host areas. Over the years, the DCP Gboko plant has installed more than 50 hand-pump and motorised water boreholes across various settlements. Of these projects, 17 have been executed in the Mbayion clan, benefiting the immediate host communities of Amua, Tse-Kucha, and the Quarry Community.

Mr. Raj also noted that the company is currently constructing additional motorised water boreholes and is in the process of installing pumps and 30,000-liter capacity steel overhead water tanks for these communities.

“In response to a request from the Tse-Kucha community, the company recently repaired the flow valve at the water earth dam that supplies water for various household uses. Additionally, plans have been finalised for a comprehensive rehabilitation of the earth dam, which was originally constructed and donated to the Tse-Kucha community by the then-Benue Cement Company over 30 years ago.

While these community water projects are underway and nearing completion, the company is currently addressing water supply challenges by providing water to households in Tse-Kucha using tanker trucks positioned at strategic locations within the community.”

The Gboko plant director emphasised that Dangote Cement is committed to environmental sustainability and addressing climate change. He highlighted that the company has implemented a robust climate change policy that aligns its operations with global climate goals. As part of the Group’s environmental sustainability programme, the DCP Gboko Plant has initiated a deliberate decarbonization effort, including extensive tree planting across various community settlements.

“We urge all stakeholders of Dangote Cement, Gboko Plant to collaborate with management to ensure ongoing community engagement and dialogue. This will foster a harmonious and peaceful coexistence and create a conducive business environment for the benefit of all.”

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Dangote Cement launches students’ industrial internship scheme

Post author By Victor Ogunyinka
Post date August 15, 2024
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Dangote Cement Plc has launched a novel Internship Scheme for students of tertiary institutions in Nigeria that will see the students undergoing a one-year internship fully funded by the leading cement company.

The scheme, according to the Dangote Cement Lagos Regional Sales Director, Mr Tunde Mabogunje during the induction of pioneer students of Yaba College of Technology, Lagos, has been designed to provide practical and hand on the job experience for excellent Engineering students in the higher institutions across Nigeria.

He explained that the scheme is part of Dangote Cement’s Corporate Social Responsibility (CSR) and offers a unique opportunity for engineering students to apply the knowledge they’ve gained in classrooms and laboratories to real-world situations. By combining their academic learning with practical, on-field training, students will emerge as well-rounded engineers.

Mobogunje said “We are kicking off this phase of the scheme in Lagos and Kano States. A total of 20 students are involved with 10 students selected from each of the two states. In selecting the interns, we wrote to the authorities of Yaba College of Technology and Kano Polytechnic requesting for the list of the best performing students in Building Studies.

“We are to train the selected students on the right application of cement with specific reference to Dangote Cement in accordance with Standard Organisation of Nigeria (SON) prescriptions. The interns are to be deployed to various building project sites while technical officers from Dangote Cement will be on ground to monitor them.”

The Dangote Cement boss pointed out that the project underscores the company’s belief that acquisition of vocational and technical skills is vital to the wellbeing of any sector in particular and the economy as a whole. “They are vital prerequisite for growth. However, dearth of vocational and technical skills has had an adverse effect on the building sector. This internship programme is apt and a major step in the right direction towards addressing the gap. As trainees gain practical field experience, they will be well-prepared to become well-rounded professionals and make significant contributions to the industry.

“At Dangote Group, we are committed to providing vocational training to young Nigerians to equip them with a range of valuable skills. To address gaps in some of our plants, we recruited graduates from engineering and technology-based programmes and trained them in various aspects of industrial operations. These technicians were subsequently deployed to our plants in Obajana, Ibese, Gboko, as well as our sugar and salt refineries in Apapa and Ikeja. They have demonstrated that, with the right training and orientation, young Nigerians excel in every assignment they undertake.

“For our oil refinery and fertiliser plant, we recruited hundreds of graduates of Engineering based courses and sent them abroad for training. This set of professionals are now running the new plants and are training other sets of engineers through skill transfer.

“We provide vocational training programmes for our host communities. The youths are veritable assets in any society and the quality of the youths determines the outlook of tomorrow’s society. Therefore, an investment in developing vocational skills among youths will yield the desired results.”

In his remark, the Rector of Yaba College of Technology, Dr. (Engr.) Ibraheem Adedotun Abdul commended Dangote Cement management for the scheme describing it as a landmark achievement in Corporate Social Responsibility.

He expressed happiness that Yaba College of Technology has been chosen as a pioneer institution for the scheme and assured that the participating students from the institution would live up to expectation and the scheme will achieve its objective of bridging the gap between academic performance and practical experience.

The programme the Rector said would expose the students to practical aspects of their field of studies and so when they finished in school they would have acquired the necessary skills that will make them take off as a professional with ease.

Engr. Abdul stated that the College has other groups, institutions, and Companies which it partners with for the purpose of advancing the skills of the students. He then disclosed that the College management was at the verge of setting up Industry Advisory Committee for which he canvassed for a representative from Dangote Cement.

While noting that the door of Yaba College of Technology is opened to further partnerships by Dangote cement and other similar organisations, the Rector assured that the initiative would make the student sound both on and off the field and be more useful to the society.

Also speaking during the induction, Dangote Cement National Sales Director, Funmi Sani said the internship initiative was not unexpected from Dangote Cement because the company stands for quality and anything that would bring quality into both academic and practical skills application would interest the company.

He urged the students to take the maximum opportunity provided by the scheme to up their game and stand out among the rest, noting that they will be paid by Dangote Cement for the period of the internship.

Tags dangote cement, industrial internship scheme

PRESS RELEASE

Rating: GCR affirms Dangote Industries Limited AA+(NG)/ A1+(NG)

Post author By Victor Ogunyinka
Post date August 6, 2024
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Strong earnings prospects from the new refinery

GCR Ratings (GCR) has affirmed the national scale long-term and short-term issuer ratings of AA+(NG) and A1+(NG) respectively accorded to Dangote Industries Limited (DIL). GCR in its recent report also affirmed the national scale long-term issue rating of AA+(NG) accorded to each of Dangote Industries Funding Plc’s Series 1 NGN10.5Bn Tranche A and NGN177.1Bn Tranche B Bonds and Series 2 NGN112.4Bn Senior Unsecured Bond. The outlook on the ratings has been revised to Evolving from Stable previously.

According to GCR, “the ratings were affirmed on the prospects of significant growth in earnings following the commencement of operations at the new petrochemical refinery and robust earnings expectation from the other businesses.”

In the report, the rating agency decried the impact of naira devaluation on DIL performance stating that, “the ratings are constrained by the adverse impact of the currency devaluation on the profitability and financial position of the group, given its significant foreign debt exposure.”

GCR in recognition of the potential of the Dangote Group added, “the group’s business profile is bolstered by the commencement of refining operations in February 2024 (with the production of diesel, Naphtha, heavy fuel oil, and aviation fuel), which now complements the already well-diversified group businesses.

Accordingly, we expect the group’s business fundamentals to become increasingly tilted towards oil refining, given its size as the largest refinery in Africa and Europe. We also expect strong export sales potential given the recent debut exports of refined oil to Europe. The non-oil businesses continue to demonstrate strong earnings generating capacity and market leaderships in their respective sectors, underpinned by the above-peer production capacities and favourable demographics.”

“We have maintained a positive peer comparison consideration for DIL underpinned by the importance of the refinery to the Nigerian economy. However, we have lowered the extent of support applicable under this rating component because we expect the support factors to translate to substantive enhancements to the group’s business and financial profiles over the outlook period. In 2022, DIL raised a cumulative NGN300Bn in Series 1 (Tranches A and B) and Series 2 Senior Unsecured Bonds issued by its sponsored special purpose vehicle, Dangote Industries Funding Plc. Being senior unsecured debt sponsored by DIL, the Series 1 Tranches A and B Bonds and the Series 2 Bond rank pari passu with all other senior unsecured creditors of the group.

Therefore, the Bonds bear the same national scale long-term rating as that accorded to DIL and any change in DIL’s long-term corporate rating would impact the Bonds ratings. We have reviewed the draft trustees’ bond performance report dated 24 May 2024 and note that the coupons have been paid as and when due and there were no breaches to any covenants and pledges in the trust deeds.

However, the group remains highly exposed to volatile energy cost dynamics and is reliant on importation of gypsum for cement, raw sugar input, and crude oil for the refinery” GCR stated.

Tags dangote cement, GCR rating

PRESS RELEASE

Dangote Cement Okpella commits to development, social support for Host Communities

Post author By Victor Ogunyinka
Post date July 9, 2024
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Signs epochal Development Agreement with Okpella Communities

Management of Dangote Cement, Okpella, has signed a development and social support agreement with its Okpella Edo state host communities in demonstration of its commitment to the development and overall well-being of host communities and their people, as a responsible corporate entity

The signing of the Community Development Agreement (CDA) came just as the Edo state and the federal government commended the company for its proactiveness in planning for the growth of its host communities as a sure means of promoting peaceful co-habitation.

The Okpella Plant Director, Dangote Cement Plc, Mr Mohammed Ismaeel, at the CDA signing ceremony said the cement company has fully complied with the provisions of the Minerals and Mining Act, 2007 and that of the Minerals and Mining Regulation 2011 of the federal republic of Nigeria.

Signing the agreement on behalf of the company at Okpella, Mr Ismaeel said the ceremony was very significant in that it aimed at promoting harmonious and mutual benefits between the cement company and its host communities.

“Today’s occasion is not only a demonstration of our compliance to these regulatory provisions as a responsible corporate organization but it also a demonstration of our commitment to the development and overall wellbeing of our host communities.

“For us as a company, we believe in the mantra, good neighbourliness is good business, hence we are doing everything possible to maintain harmonious relationship with all the communities where we operate”, Ismaeel added.

He added that the occasion marks the beginning of concrete infrastructural development and social supports in the areas of education, improved access to health care, economic empowerment programmes targeted at the youths, women and the farming population, improved access to potable water, support to improve electrification and power supply among other things.

The Plant Director pointed out that the CDA also provides for scholarship grants for students in secondary and tertiary institutions to promote excellence in educational pursuits of indigent students from Dangote Cement, Okpella host communities.

He added that the CDA document clearly states the consultative framework for engagements, grievance management and obligations of both the Plant and the host communities for mutual growth and development stressing that, it is clearly a path to define relationships, commitments, obligations and expectations with potential to address immediate concerns and future social issues that may arise in the course of the relationship between the company and its host communities.

Ishmaeel then requested the host communities to keep their end of the bargain by supporting and collaborating with the company so as to foster all round development. “Be assured that we are always ready to listen, dialogue and resolve all concerns”, he noted.

Speaking on the occasion, the Edo State Commissioner for Mines and Energy, Hon. Donatus Ojiefoh, who represented the State Governor, Godwin Obaseki, praised the company’s management for taking the path of peace with its host communities pledging by so doing, that the state governor will always support any investors who wants to invest in the state.

He assured the people of the communities that more investors are willing to come and invest in the state but that the people most be willing to cooperate and provide the enabling environment for them to operate.

Ojiefoh admitted that it is imperative for students to study the mineral resources that are abound in their communities in order to be able to appreciate them.

In her own remark, the host Etsako East Local Government Chairman, Mrs Benedicta Atu, commended the company for signing the agreement despite the odds and the delay occasioned by some factors saying it was good that the signing took place at the time.

She called on the companies operating within the local government to urgently help with the payment of the monumentization of the boundary between Okpella and Kogi State.

Speaking for the host communities, High Chief Afiabor Peter, Secretary, Ukhomunyio Council of Village Heads, Afokpella thanked the Dangote’s Cement for the signing of the CDA, saying that it was a welcome development as it will benefit all the parties involved.

He expressed confidence that all that are contained in the agreement were thorough reflections of the wish and aspirations of the host communities and promised that the host communities would be up and doing to fulfil their own side of the bargain.

Tags Dangote Cement Okpella

PRESS RELEASE

Dangote keys into FG Agenda, to run all Cement trucks on CNG by 2025

Post author By Victor Ogunyinka
Post date May 29, 2024
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Increases shareholders dividend by 50% to N30 per share

Amidst applause by shareholders for the impressive results in the 2023 financial year despite the harsh business operating environment, the Chairman of Dangote Cement Plc, Aliko Dangote has announced an increase of 50 per cent on dividend payout to the shareholders, from N20.00 per share paid in the 2022 financial year to N30.00 for the last financial year 2023.

In the same vein, Dangote also revealed that arrangements are in top gear for thousands of the Company’s delivery trucks to henceforth run on Compressed Natural Gas (CNG) in line with the Federal Government agenda on adoption of alternative fuel for official vehicles.

This decision, Dangote told excited shareholders at the 15^th Annual General Meeting (AGM) of Dangote Cement Plc, held in Lagos was to add to the Federal Government’s quest towards reducing dependence on fossil fuel, thereby enhancing the nation’s energy independence and contributing to a more secure energy future.

According to him: “We are now going to start using CNG vehicles, especially with the new policy of the Federal Government, launched by the Renewed Hope Agenda by His Excellency, President Bola Tinubu. By the end of next year, all our trucks that are operating in the company will be running on CNG, and that is a whole lot of money that we are going to invest. But we are equal to the task, and we will continue to push and make sure that we continue to make our shareholders happy.”

The Chairman disclosed to the shareholders the Company’s ongoing efforts at ramping up production with the ongoing construction of a new plant of 6 million metric tonnes per annum at Itori, in Ewekoro local government area of Ogun State, noting that despite the hiccups at the Apapa Port in Lagos, the plant would be completed to time.

Dangote said the company’s impressive performance was in fulfillment of the promise he made of an enhanced Return on Investments (RoI) to the shareholders and other stakeholders in Dangote Cement, assuring them that the following year would even be better.

He expressed satisfaction that Dangote Cement achieved double-digit growth in revenue of ₦2,208.1 billion, while Group EBITDA (Earnings before Interest, Taxes, Depreciation and Amortisation) reached a record high of ₦886.1 billion, increasing by 25.1%.

“This outstanding EBITDA performance was underpinned by our robust cost control measures and our diverse pan-Africa operations. The latter acted as a cushion, providing resilience to country-specific risks, while the former enhanced our overall profitability. Our pan-Africa operations now contribute 41.2% to the Group’s overall volumes,” he added.

Dangote pointed out,” We made significant strides in our expansion initiatives, with the successful launch of operations at our 0.45Mta grinding plant in Ghana, increasing our total installed capacity to 52.0Mta. Furthermore, our 1.5Mta grinding plant in Côte d’Ivoire is making substantial progress and is nearing completion. Lastly, we have commenced construction on our 6Mta Itori plant in Ogun State, a crucial step in supporting our ambitious export goals.”

The 2023 results showed that Africa’s largest cement manufacturer recorded improvement in all performance measurement indicators with group revenue rising by 36.4 per cent to ₦2,208.1 billion while Profit after tax (PAT) was up by 19.2 per cent to ₦455.6 billion. Earnings per share went up by 18.8 per cent at ₦26.47. Dangote Cement is garnering more market share across the continent with pan-Africa volumes going up by 12.7 per cent to 11.3Mt.

In his interview with the media during the AGM, the Group Managing Director of Dangote Cement Plc, Arvind Pathak said 2023 was yet another testament to the effectiveness of the management’s diversification strategy, despite the challenging macroeconomic conditions.

He said; “Our diverse operations acted as a cushion, providing resilience to country-specific risks. Pan-African volumes were up 12.7 per cent and now account for 41.2 per cent of Group volume. Consequently, pan-African revenue increased by a record 123.2 per cent to ₦925.9 billion, while EBITDA surged by over four-fold to ₦263.7 billion.”

Alluding to what Dangote said on use of CNG as an alternative fuel for its cement trucks, Pathak noted that in response to the heightened inflationary environment, “we implemented new and innovative business strategies that helped to drive up revenues, contain costs, and protect margins. These initiatives included fuel mix optimisation, propelling the use of alternative fuels to replace more expensive fossil fuels. We also began the phased transition from diesel power trucks to full Compressed Natural Gas (CNG) trucks.”

Shareholders one after another were full of praise for the board and management of the Company for the impressive outing in 2023, which accounted for the dividend payout of N30 per share; an increase of 50 per cent over the 2022 dividend despite the economic headwind that characterised 2023.

Mrs. Bisi Bakare, Chairperson of the Pragmatic Shareholders Association lauded the management of Dangote Cement for what she described as a huge dividend payout even when many other companies could not pay their shareholders a dime because they declared losses.

She stated that the shareholders were happy, and expressed optimism that with the way the management has steered the Company in the face of the current economic downturn and recorded good results, the 2024 dividend will be higher.

In his comment, the President, of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar said the shareholders could not but thank the board and management of Dangote Cement for a job well done. He noted that no company, in recent time, has been able to be as profitable as Dangote Cement, just because of the sound judgment of the management in navigating the murky economic weather which has had negative impact on results of some other companies.

He commended Dangote for his patriotism and dedication to the cause of Nigeria and her people with his decision to reduce prices of his petroleum products. He expressed hope that the price of Premium Motor Spirit popularly called petrol would come down once the Dangote Refinery rolls out the product soon.

Tags Annual General Meeting, dangote cement, Dangote Truck

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Dangote Cement places premium on community engagement, sustainability in Host communities

Post author By Victor Ogunyinka
Post date May 14, 2024
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Dangote Cement Plc, is prioritizing community engagement, empowerment, and environmental stewardship to sustain its upward trajectory,

The cement manufacturing firm said it believed that true progress is measured not only by economic prosperity but also by the holistic development of all stakeholders.

The Plant Director of Dangote Cement Plc Obajana, Mr Azad Nawabuddin, who disclosed this during a media chat in Obajana, said that the relationship between Dangote Cement and its host communities and other stakeholders transcends transactional exchanges as it is built on a foundation of trust, mutual respect, and shared aspirations.

“The communities in which we operate are not just beneficiaries; they are our partners in progress,” he affirmed.

While reaffirming the company’s commitment to its host communities, Nawabuddin, who recently moved from the Ibese plant, emphasized that the company would collaborate with key stakeholders in Obajana to implement impactful projects.

He said crucial to the vision is the empowerment of residents through skills development and capacity-building initiatives. “We recognize the importance of equipping community members with the requisite skills to thrive in today’s competitive landscape,” Nawabuddin asserted.

The Dangote Cement boss said this will enhance employability and foster entrepreneurship among youth and women in the host communities.

With a steadfast commitment to corporate social responsibility (CSR) and sustainable development, Nawabuddin outlined initiatives to strengthen the bond between Dangote Cement and the communities. He emphasized that the company views its host communities as partners.

“In terms of community engagement, we will hold meetings to explore avenues for supporting them, including opportunities for businesses and contracts. The communities are integral partners for us. Through dialogue with them, we aim to execute significant projects that will bring them lasting benefits,” he stated.

Nawabuddin also stressed the importance of environmental stewardship and sustainable practices in Dangote Cement’s operations. “We are custodians of the environment, and it is our duty to ensure that our activities leave a positive impact on the ecosystem,” he added.

Nawabuddin explained that in addition to socio-economic development is the importance of addressing security concerns in the host communities. He said through collaborative efforts with law enforcement agencies and community-based initiatives, security risks will be mitigated, and the well-being of residents will be upheld.

“We are working closely with local authorities and community leaders to enhance security measures and create a safe and conducive environment for all,” he added.

Tags Dangotd Cement, obajana

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