Monday, November 29

Tag: Dangote Group

My Refinery Will Be Completed By The End Of 2021 – Dangote
Business

My Refinery Will Be Completed By The End Of 2021 – Dangote

President, Dangote Group, Alhaji Aliko Dangote yesterday said the multi billion dollars and 650,000-barrel per day (bpd) integrated refinery and petrochemical project will be completed by the end of this year, just as granulated urea fertiliser plant at Ibeju Lekki corridor will begin production of fertiliser products next week. This was even as the Lagos State Governor, Mr Babajide Sanwo-Olu promised to support the ongoing multi-bilion dollars investments on the axis with massive road infrastructure to further open up the economy of the axis and create a more conducive environment for the industries springing up in the area. The duo spoke with journalists during Governor Sanwo- Olu’s two-day working visit to the Lagos Free Zone, saying that the investments would turn around the ...
Dangote Wants Only Refinery License Holders To Import Fuel
Politics

Dangote Wants Only Refinery License Holders To Import Fuel

Dangote Group has suggested for inclusion in the Petroleum Industry Bill a provision that the licence to import petroleum products should be assigned only to companies with active refining licences. The company, which is building a 650,000-barrels-per-day refinery in Lagos, said this would encourage investment in local refining. The Chief Strategy Officer, Dangote Group, Aliyu Suleiman, in a presentation during a visit by members of the National Assembly’s Joint committee on PIB to the project site, highlighted several recommendations by the company. He said, “Nigeria is exceptional in being a major oil producer with near zero refining capacity. “Though the Dangote Refinery will help address this, there could be periods when petroleum products may need to be imported, such ...
Products From Dangote Refinery To Hit The Market By Early 2022 – Devakumar Edwin
Business

Products From Dangote Refinery To Hit The Market By Early 2022 – Devakumar Edwin

Dangote Group says petroleum products from its 650,000 per day refinery will hit the market by early 2022 against the previous 2021 fourth-quarter target. Devakumar Edwin, executive director of capital projects and portfolio management at Dangote Group, told Arise TV that the earlier completion and products production date could not be met due to the COVID-19 pandemic that as restrictions led to delays in the shipment of equipment from abroad. In November 2020, the group said its refinery had reached 80 percent completion; engineering and construction were 100 percent, and procurement was 98 percent ready. He said the group has gone ahead with the construction schedule and that by end of 2021 it would have achieved mechanical completion and proceed with the inauguration in Dec...
Obu Mines: BUA Threatens Dangote Group With Contempt Of Court Proceedings
Business

Obu Mines: BUA Threatens Dangote Group With Contempt Of Court Proceedings

BUA Group has warned Dangote group to remove its excavators and trenches used in barricading the entrance of Obu Mines in three days or face contempt of court proceedings. BUA Group in a statement said that Dangote in its not so surprising tactic and in total disregard for the court and rule of law has laid siege on BUA’s Obu mines Okpella by placing excavators and creating trenches at the entrance to effectively prevent BUA Vehicles from operating at the mining sites even after a competent Federal High Court in Benin recently granted BUA rights over the mines. While drawing public attention to the Dangote’s illegal self-help measures, BUA warned Dangote to restore access to its mining sites, by refilling the trenches and removing their excavator, within three days or it will Insti...
Okpella Mining Site: BUA Group Tells Dangote To Respect The Judicial Process
Business

Okpella Mining Site: BUA Group Tells Dangote To Respect The Judicial Process

BUA Group has described the publication of Dangote Group wherein it stated that BUA misinterpreted the fact about a pending court case as untrue and laden with fraught misrepresentations. A statement by BUA Group explained that Dangote, in its hurry to twist facts, failed to justify the alleged misinterpretation in its publication but stylishly stated that it has appealed the judgement whilst accepting the recent court order, which granted BUA the right to peaceful possession and operations of three of its mining sites in Obu, Okpella in Edo State. “In the said publication by Dangote Group, it was alleged that the initial publication of the BUA Group was riddled with misrepresentations and deliberate distortions of facts. We however note that the Dangote Group failed to identify any ...
Dangote Group insist on ownership of Obu-Okpella Mines
Business

Dangote Group insist on ownership of Obu-Okpella Mines

The management of Dangote Group yesterday denied the claim by the BUA Group to the mining sites in Obu, Okpella, Edo State, as the latter said it relied on the Federal High Court recent judgment in Benin. Dangote advised the regulatory agencies to disregard completely the unfounded and mischievous claim and publication by the BUA Group, saying it was riddled with misrepresentations and deliberate distortions of facts Dangote Group in a statement signed by the Group Executive Director, Devakumar Edwin, explained that the Dangote Group, had through its lawyers vigorously defended the suit filed by the BUA Group seeking a perpetual Injunctive Order against further interferences with their purported fundamental rights to property and privacy. He said the Group has appealed the Hig...
270 Indian Workers At Dangote Company Depart Nigeria
News

270 Indian Workers At Dangote Company Depart Nigeria

It was gathered that the aircraft conveying the nationals departed the Murtala Muhammed International Airport, Lagos on Thursday evening and is expected to arrive India on Friday. The High Commission of India in Abuja confirmed this in a tweet, noting that the evacuees were workers of Dangote Group while adding that it was the second evacuation flight operated by a Nigerian airline, Air Peace. “Enabled repatriation of 270 needy employees of Dangote Group to India from Lagos Airport today (Thursday), with support of Nigeria Immigration Service and the Federal Ministry of Health. Second direct flight by Air Peace to India within a week,” it tweeted late Thursday. We Reported that Air Peace conveyed 312 Indian citizens from the Lagos Airport to the Cochin International Airport in...
Dangote Group Converts Lockdown Break To Staffers’ Annual Leave (Photo)
Business

Dangote Group Converts Lockdown Break To Staffers’ Annual Leave (Photo)

Dangote Group has informed its staff members that the lockdown break given by the government is now a part of the company annual leave. A memo to that effect which was captured by MCI reads, "This is to advice all staff that the lockdown period will be regarded as part of Leave Period and therefore annual leave consuming." "Where any staff has exhausted his/her leave period, a commensurate amount would be deducted to cover the period." The memo has generated mixed reactions since its release. See memo below.
Dangote Moves To Purchase 10,000 Trucks From Indonesia
Business

Dangote Moves To Purchase 10,000 Trucks From Indonesia

Dangote Group has concluded plans to purchase 10,000 Indonesian-made light pickup trucks. The trucks, called the rural multipurpose mechanical tool, are expected to be marketed in Nigeria. Indonesian Industry Ministry’s Director of Maritime Industry, Transportation Equipment and Defense Equipment, Putu Juli Ardika, said that the vehicles would be purchased by Dangote through his company, Dangote Group. Putu explained that Dangote Group was very interested in importing the trucks, also known as the AMMdes to provide more affordable means of transportation to rural people in Nigeria. The director explained that the company was interested in the multipurpose vehicles to carry water and cassava and seed processors. Putu said: “Dangote’s team will check three units as a sample t...
Dangote Refinery Will Save Nigeria $10bn – Zainab Ahmed
Politics

Dangote Refinery Will Save Nigeria $10bn – Zainab Ahmed

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said on Sunday that Dangote Refinery would save the country of $10 billion spent on crude importation when it comes on stream. She also said the refinery would create thousands of jobs for Nigerians when it becomes operational. The minister said this when she was conducted round the ongoing Dangote Petroleum Refinery, Petrochemical complex, fertilizer plant and Subsea gas pipeline projects. She also said the government would continue to provide an enabling environment for local businesses to grow. Ahmed said: “We are very confident that once Dangote refinery commences operation it will save us over $10 billion Nigeria spent on importing crude oil and also help to build local capacity and create jobs. The mon...
Nigeria Will Start Exporting Rice Soon – Dangote
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Nigeria Will Start Exporting Rice Soon – Dangote

The Dangote Group has pledged to change Nigeria from a nation that imports rice to a major exporter of the staple food. The group said that its 150,000 hectares rice farmlands in Jigawa, Kano, Kebbi, Nasarawa, Niger, Sokoto, and Zamfara States as well as 10 rice mills it was establishing in different parts of the country would deliver one million tons of rice annually. This was disclosed by Dangote Group’s Executive Director, Kunt Ulvmoen, when he spoke to captains of commerce and industry during the Dangote’s Special Day, at the ongoing 33rd Lagos International Trade Fair. According to Mr Ulvmoen, the group had been known to be the number one in rice business in Nigeria until it took the decision to terminate any commodity trading that would not achieve value addition on loca...
Dangote Refinery Rules Out 2020, As Refinery Gets New Date
News

Dangote Refinery Rules Out 2020, As Refinery Gets New Date

Dangote Group has announced that its refinery would be commissioned by the end of first half in 2021. The Group Executive Director, Dangote Group, Devakumar Edwin, explained that when commissioned, the facility would meet 100% need of the country and export balance. When production starts, the refinery will be able to process 650,000 barrels of crude oil per day into refined petroleum products. This will help Nigeria become an oil refining country and oil exporter as the country’s refineries are in dilapidated state. The capacity of the Dangote Refinery would eliminate fuel import from other regions into Nigeria. No crude-for-fuel swap deal: Edwin also stated that the Dangote refinery would not be involved in NNPC’s (Nigerian National Petroleum Corporation) crude-for-fuel swap dea...
Man Lands In Court After Stealing This Shocking Things From Dangote
News

Man Lands In Court After Stealing This Shocking Things From Dangote

A 41-year-old man, Taofeek Omotosho, appeared before an Ebute Meta Chief Magistrates’ Court in Lagos on Friday for allegedly stealing 952 pieces of air conditioning kits, valued at N7.1 million, from Dangote Group. NAN reports that Omotosho, who was arraigned on a charge of stealing, pleaded not guilty. The Prosecution, Mr Cyril Ejiofor, told the court that the defendant committed the offence between June 2018 and March 2019 at Dangote Refinery in Ibeju-Lekki, near Lagos. Ejiofor said that the offence contravened Section 287 of the Criminal Law of Lagos State, 2015. The Chief Magistrate, Mr O.O. Olatunji granted Omotosho bail in the sum of N1 million with two sureties in like sum. He said that one of the sureties must be gainfully employed and adjourned the case until June 1...
Dangote Salt Rewards Truck Drivers For Accident-Free 2018
Uncategorized

Dangote Salt Rewards Truck Drivers For Accident-Free 2018

NASCON Allied Industries, a subsidiary of Dangote Group, said it would continue to honour its workers just as it rewarded its truck drivers for meeting product delivery target and driving accident-free in 2018. The Executive Director, Commercial, Hajiya Fatima Aliko Dangote, who presented various gifts to the drivers during the annual performance award ceremony,said that the business transactions of the organisation with its customers was incomplete until the final delivery of products to the right destination was made possible only by the truck drivers. She also added that : “No serious organisation would take its drivers for granted. Our drivers are the most important in the distribution chain" “They take a lot of risks while striving to deliver products and meet target and...
Dangote: North Will Remain Poor Except…
Uncategorized

Dangote: North Will Remain Poor Except…

African richest and Chairman of Dangote Group of Companies, Alhaji Aliko Dangote has said Northern Nigeria will continue to remain poor except states governments move to close the development gap between the north and the south. Dangote, who spoke at the 4th edition of the Kaduna Investment Summit (KadInvest 4.0) in Kaduna on Wednesday, berated Northern governors for doing little to end poverty in the region. According to him: “Nigeria is ranked at 157th out of 189 countries on the human development index. While the overall socio-economic condition in the country is a cause for concern, the regional disparities are in fact very alarming. “In the North Western and North Eastern parts of Nigeria, more than 60 per cent of the population lives in extreme poverty. “It is instruc...
President Buhari Signs Executive Order Allowing Private Companies To Build Roads
Politics

President Buhari Signs Executive Order Allowing Private Companies To Build Roads

President Muhammadu Buhari has signed and executive order allowing private companies build federal roads in the country. The Executive Order 007 2019, signed by the president, is on Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme. The president signed the order on Friday inside the council chamber of State House, Abuja. The new order will allow private companies such as the Dangote Group, Unilver, and Lafarge Africa construct major roads across the country and be paid in the form of tax credit. Nigeria ranks 11th on the list of countries with the world’s worst road quality and network, according go the Global Competitive Index of 2018. Under federal laws, public roads are constructed and maintained by the government, but poor funding has se...
CBN Gives Dangote N75b Forex Support – Emefiele
News

CBN Gives Dangote N75b Forex Support – Emefiele

The Central Bank of Nigeria (CBN) has given assurance to Dangote Group that it will support it access Foreign Exchange, Forex to build its proposed $14 billion refinery in the country. Mr. Godwin Emefiele, the Governor of the CBN, said this during a tour of the refinery which is projected to refine 650,000 barrels of crude oil per day. The tour of the facility held at its location within the Lekki Free Trade Zone in Lagos. The CBN governor said that the support was to ease the importation of equipment needed to bring the Dangote refinery to reality. “Your ongoing 14 billion dollar refinery investment will enjoy our support, no doubt. We are doing this to fast-track the importation of equipment you need for a speedy completion of that project and to encourage other Nigerians to fo...
“N300k Job Or I Won’t Work” -Nigerian Slay Queen, Chinny Okekki
Entertainment

“N300k Job Or I Won’t Work” -Nigerian Slay Queen, Chinny Okekki

A Young Nigerian slay queen who has just apparently concluded her final exams in the Universities has laid out her terms to companies planning to employ her once she concludes her clearance and is ready to work. The slay queen identified as Chinny took to social media to list the companies she can only work for as Shell, Chevron, Nestle, and Dangote group. She did not end there. She says she will not accept any job paying less than N300,000 for a start. Maybe she knows what she’s made of and the knowledge she acquired in school. See her post below;  
Dangote Named Most Admired African Brand
News

Dangote Named Most Admired African Brand

The Dangote Group has been voted as the most admired African brand by consumers ahead of MTN, according to the South African-based Brand Leadership Movement in collaboration with the Johannesburg Stock Exchange. The Dangote brand, which is also the leading brand in Nigeria, came atop in the fresh ranking of 100 best brands in Africa themed ‘Brand Africa 100’.
2 Families File N320m Lawsuits Against Dangote Over The Death Of Their Members In An Accident
News

2 Families File N320m Lawsuits Against Dangote Over The Death Of Their Members In An Accident

Two families have sued billionaire businessman, Aliko Dangote, and his companies, following the killing of their members in an accident involving a truck they claimed belong to the businessman’s company. According to court papers filed before the Lagos State Multi-Door Courthouse, the accident happened on January 9, 2018 along Lagos-Ibadan Expressway, claiming the lives of 10 passengers in a commercial bus with registration number BDJ 410 YM. In the lawsuits filed on their behalf by the Lagos State Directorate of Citizens’ Right, the two families are each seeking N160m damages against Dangote and his companies. The two victims of the accident whose families sued are Gbenga Ishola and Mrs. Nike Adeosun. While Mr. Tobi Ishola sued on behalf of Ishola’s family, Mr. Abiodun Adeosun...
Dangote Sugar Refinery To Pay Higher Dividend As Profit Hits N40bn
News

Dangote Sugar Refinery To Pay Higher Dividend As Profit Hits N40bn

Dangote Sugar Refinery (DSR) Plc has reported improved results for the year ended 2017 and recommended higher dividends for shareholders. Two other members of the Dangote Group, Dangote Cement Plc and NASCON Allied Plc had earlier announced their results that showed higher performance compared to the previous year. Last week, DSR unveiled its audited results, showing growth in performance indicators and recommended higher final dividend. DSR reported a revenue of N204.42 billion in 2017, up 20.4 per cent above the N169.72 billion recorded in 2016. Profit before tax jumped by 173.3 per cent to N53.6 billion, from N19.61 billion, while profit after tax grew fast by 176 per cent to N39.78 billion as against N14.4 billion in 2016. Given the impressive performance, the board of directors re...
Forbes Magazine Names Dangote The Richest Black Man In The World
News

Forbes Magazine Names Dangote The Richest Black Man In The World

Africa’s richest man, Aliko Dangote has been named by Forbes Magazine as richest black billionaire in the world. The cement industrialist is said to be worth $12.2billion Dangote, who was not the only Nigerian to make the list, was placed on 1st position. Other Nigerian billionaires like Mike Adenuga and Folorunsho Alakija also graced the list. See Forbes world’s top ten the black billionaires: 1. Aliko Dangote: $12,2 billion. Dangote is the undisputed richest person in Africa, he also happens to be the richest black person in the world. He founded the Dangote Group 35 years ago and still serves as its CEO and president. The vast majority of his wealth is derived from Dangote Cement. Dangote is an active philanthropist and focuses his charity work on education, agriculture a...
Benue Killings: Dangote Reveals Cause Of Herdsmen Attacks
News

Benue Killings: Dangote Reveals Cause Of Herdsmen Attacks

The President and Chief Executive of the Dangote Group, Mr. Aliko Dangote, has spoken on the increasing herdsmen attack in some parts of Nigeria. Dangote on Tuesday, while speaking with Channels Tv revealed that increasing rate of unemployment was to blame for the attacks. “If there are jobs, there wouldn’t be anything like Boko Haram, there would not be anything like herdsmen. Once you are engaged, you do not have time for mischief. “The government is working tirelessly to make sure that we resolve this issue about herdsmen. “Government cannot do it on its own; we also need to do our own. The government is giving us an opportunity to also create jobs. “And I think people are under-rating how many jobs we need to create, not just in Nigeria and Africa, we need to create 12 m...
News

Chinese Companies Break Ground On Nigeria Subsea Pipeline Project

Two Chinese companies have held a groundbreaking ceremony to start the construction of a subsea pipeline installation for Dangote Oil Refining Company Limited in Lagos, Nigeria’s economic hub. Top officials of the Nigerian Dangote’s Group, along with Xie Xianju, Deputy General Manager of China Harbor Engineering Co. (Nigeria) and Zhang Qing, General Manager of China’s Offshore Oil Engineering Company (COOEC) attended a ground breaking ceremony on Friday. The pipeline project is part of Dangote’s US$17 billion gas pipeline, fertilizer, petrochemicals and refinery projects. The work scope includes transportation and installation of nine subsea pipelines totalling 100 km in water depths of up to 40 m. Six of the pipelines will be 24 in. diameter and three will be 48 in. The ...
Stop Peddling Falsehoods – BUA Tells Dangote
News

Stop Peddling Falsehoods – BUA Tells Dangote

BUA has fired back at Dangote Group for accusing it of illegally mining limestone in Okene area of Kogi State.   Management of Dangote Group, had over the weekend accused BUA of engaging in illegal mining of limestone deposited in its Mining Lease, No. 2541, located in a boundary town of Oguda/Ubo in Okene Kogi State. Dangote’s Executive Director, Mr. Devakumar Edwin frowned at the media war, instigated by BUA against the Dangote Group, over a matter which is already pending before the Federal High Court, Benin Division. Reacting to Dangote’s claim, the company in a statement on Thursday warned Dangote to stop peddling falsehood and lies just to gain sympathy from the public. The statement reads in full: “Our attention has been drawn again to a new publication b...
Dangote Accuses BUA Of Stealing, Illegal Mining Of Limestone On Its Properties
News

Dangote Accuses BUA Of Stealing, Illegal Mining Of Limestone On Its Properties

Management of Dangote Group, over the weekend accused BUA of engaging in illegal mining of limestone deposited in its Mining Lease, No. 2541, located in a boundary town of Oguda/Ubo in Okene Kogi State. Dangote’s Executive Director, Mr. Devakumar Edwin frowned at the media war, instigated by BUA against the Dangote Group, over a matter which is already pending before the Federal High Court, Benin Division. Edwin revealed that: “Dangote Group validly acquired its interest and mining title in the disputed Mining Lease No. 2541 from AICO Ado Ibrahim & Company Ltd sometime in 2014. AICO itself had applied to the Mining Cadastre Office and Ministry of Mines and Steel Development for the said Mining Lease No. 2541 located in a boundary town of Oguda/Ubo in Okene Kogi State in 2007. The...
Dangote Accuses BUA Of Stealing And Illegally Mining Limestone On Its Properties
News

Dangote Accuses BUA Of Stealing And Illegally Mining Limestone On Its Properties

Management of Dangote Group over the weekend accused BUA of engaging in illegal mining of limestone deposited in its Mining Lease No. 2541, located in a boundary town of Oguda/Ubo in Okene Kogi State. Dangote’s Executive Director, Mr. Devakumar Edwin frowned at the media war, instigated by BUA against the Dangote Group, over a matter which is already pending before the Federal High Court, Benin Division Edwin revealed that: “Dangote Group validly acquired its interest and mining title in the disputed Mining Lease No. 2541 from AICO Ado Ibrahim & Company Ltd sometime in 2014. AICO itself had applied to the Mining Cadastre Office and Ministry of Mines and Steel Development for the said Mining Lease No. 2541 located in a boundary town of Oguda/Ubo in Okene Kogi State in 2007. The Mi...
NUPENG Assures Of Regular Supply Of Petrol During Yuletide
News

NUPENG Assures Of Regular Supply Of Petrol During Yuletide

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) on Wednesday assured motorists of regular supply of petroleum products to filling stations during the Yuletide and beyond. New Chairman of South-West Chapel of NUPENG, Mr. Tayo Aboyeji, gave the assurance, in an interview, in Lagos. According to Aboyeji, tanker drivers will work throughout the Christmas and New Year festivals to ensure that filling stations in the South West get sufficient products. “I met the top management of Pipelines and Product Marketing Company (PPMC), a subsidiary of NNPC, on the assurance of products due to current fuel scarcity in some parts of the country. “If there is no petrol at depots, there is nothing we can take to filling stations. “They assured us of sufficient supply will be a...
Dangote Shines At Lagos Trade Fair
News

Dangote Shines At Lagos Trade Fair

Pan-African Conglomerate Dangote Group shined in a big way at the 2017 Lagos International Trade Fair which ended yesterday, with subsidiaries under the Group exhibited their array of products. The global brand is however spicing this year’s fair with a special introduction of new products and packs from the stable of its subsidiaries to its customers and other visitors to the fair. With the theme of this year fair on “Promoting Industrialisation for Economic Recovery and Sustainable Growth”, the Lagos Chamber of Commerce and Industry (LCCI) the organizer of the Lagos International trade fair has set the platform for fruitful deliberations on the drive for industrialization towards economic recovery, sustainable growth and development. According to LCCI, by design and conceptualiz...
Kano Govt, Dangote Donate ‎N1bn To Victims Of Market Fire Disaster
Uncategorized

Kano Govt, Dangote Donate ‎N1bn To Victims Of Market Fire Disaster

Kano State Government and Dangote Group have donated N500 million each as assistance to victims of the fire outbreak that occurred early this year in five major markets in Kano.The chairman of Dangote Group, Aliko Dangote, announced the donation on Saturday in Kano.Mr. Dangote, who headed the appeal fund committee for the victims, said the gesture was to ameliorate the suffering of those affected by the disaster.“Times are hard and if not for the recession which we are also affected I would have donated more than this amount,” he said.‎He called on other wealthy individuals and organisation to come to the aid of the traders.‎‎‎Earlier, the Gov. Abdullahi Ganduje said the state government had also donated N500 million to the victims.He said apart from the appeal fund committee, the state go...
Dangote Invests $4.6 Billion In Farming
News

Dangote Invests $4.6 Billion In Farming

Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars in its home market of Nigeria. The conglomerate plans to increase its production of sugar to 1.5 million metric tons a year by 2020 from 100,000 tons now and is seeking to add 1 million tons of rice, Edwin Devakumar, executive director at Dangote’s industries unit, said Tuesday in an interview in Lagos, Nigeria’s commercial hub. The company also plans to have 50,000 cattle producing 500 million liters of milk a year by 2019, he said. A lack of foreign exchange means companies are struggling to pay for imported goods, increasing the burden on local...
Dangote To Own 50,000 Cows, Produce 500m Litres Of Milk By 2019
News

Dangote To Own 50,000 Cows, Produce 500m Litres Of Milk By 2019

Aliko Dangote, president of Dangote Group, will own 50,000 cows by 2019, and produce 500 million litres of milk per year. The group, principally owned by Africa’s richest man, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years. According to World Health Organisation (WHO) estimates, Nigeria needs about 1.5 billion litres of milk annually. US department of agriculture also puts Nigeria’s “insufficient” milk import at $225 million per year, stating that the country’s dairy market has a potential in excess of $3 billion. With Dangote’s drive, the group will produce a third of the country’s ideal demand and nearly all of its current import. According to Bloomberg, the company seeks to expand and deal with a shortage of dol...
Nigeria Loses N120bn To Apapa Gridlock Daily – Aliko Dangote
News

Nigeria Loses N120bn To Apapa Gridlock Daily – Aliko Dangote

President of Dangote Group, Aliko Dangote has estimated that the country is losing about N140 billion weekly to traffic gridlocks on Apapa-Oshodi Expressway, Lagos, the access road to Nigeria’s main sea ports. Dangote who spoke to journalists in Lagos, yesterday, said: “The economy loses more than N20 billion daily and N140 billion weekly. It affects businesses across the country. All our operations in the hinterland in Ilorin, in Kano are operating at 40 per cent maximum capacity.” Commenting on his resolve to personally get involved in the Apapa Wharf road reconstruction, he said: “Because it is very embarrassing! We can’t just sit and have a road like that where it is the heart of the trade of the country. More than 60 per cent of our country’s import and exports come through the ...
Army, Dangote Re-Construct Barracks Destroyed During Ikeja Bomb Blast
News

Army, Dangote Re-Construct Barracks Destroyed During Ikeja Bomb Blast

The families of some troops who were displaced from their barrack during the 2002 bomb blast can heave a sigh of relief​ following the construction of a portion of the barracks by the 9 Brigade of the Nigerian Army and Dangote Foundation. Speaking at the commissioning of the of the nine blocks of eight flats each, at the Alasia quarters of 9 brigade, the Chief of Army Staff, Lt Gen. Tukur Buratai, stated that the request to seek the assistance of well meaning corporate organizations to improve the welfare of troops, particularly at the Ikeja cantonment became necessary , as the requirement was enormous for both the Federal government and the Nigerian army to handle alone. He expressed gratitude to Dangote Group for yielding to the demand when approached, by completing the constructio...
I Had Never Met Tinubu When He Appointed Me Commissioner – Osinbajo
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I Had Never Met Tinubu When He Appointed Me Commissioner – Osinbajo

Acting President, Professor Yemi Osinbajo said he had never met All Progressives Congress leader, Bola Tinubu, when he was appointed a commissioner in Lagos State. Osinbajo served as Attorney General and Commissioner for Justice in Lagos State during Tinubu’s administration. Osinbajo said: “I did not and I had never met Bola Tinubu before I was appointed Commissioner and that says a lot about the kind of individual that he is. This is the kind of thinking that makes nations great; that is the kind of thinking that would make Nigeria great. “A type of thinking that considers all of our diverse talents; a kind of thinking that does not allow parochialism; a kind of thinking that does not allow us to say anywhere belongs to only a set of people. That is when our country would be tr...
James Ibori, Dangote, Oshiomhole, Jonathan At The Burial Of Mrs. Anenih In Edo
News

James Ibori, Dangote, Oshiomhole, Jonathan At The Burial Of Mrs. Anenih In Edo

The funeral service of Dame Mrs. Pat Ebehiremen Anenih, wife of Chief Tony Anenih is currently holding at St Anthony's Catholic Cathedral in Uromi, Edo state. Present at the service were the former Governor of Delta state Chief James Onanefe Ibori, ex-president Goodluck Jonathan and the Delta state Governor, Arthur Ifeanyi Okowa. Other dignitaries in attendance include the Gombe State Governor Ibrahim Dankwambo, the immediate Past Governor of Edo State, Comrade Adams Oshiomhole and Chairman of Dangote group, Alhaji Aliko Dangote Before the funeral commenced, Chief Ibori and Governor Okowa visited the country home of Chief Tony Anenih in Uromi to condole with him.
9 Men Who Saved Emir Sanusi From Investigation
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9 Men Who Saved Emir Sanusi From Investigation

Obstruction of Justice: Men who Derail Investigation Against Emir of Kano The Kano State House of Assembly has suspended probe of the Emir of Kano, Alhaji Muhammadu Sanusi II. The Emir was initially being investigated over the complaints of “questionable expenditures and financial misappropriations” estimated at N3.4 billion. But the House has decided to drop the probe after Kano State governor, Abdullahi Ganduje, pleaded on behalf of the emir. Ganduje did not act alone. Here are the individuals who prevailed on the House to stop the Investigation: 1. The Acting President Yemi Osinbajo, a lawyer and Senior Advocate of Nigeria. 2. President of the Nigerian Senate, Bukola Saraki. 3. Speaker of the Nigerian House of Representative, Yakubu Dogara. 4. Governor of Kano Stat...
AFDB President Predicts Dangote Will Become Largest World Rice Exporter
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AFDB President Predicts Dangote Will Become Largest World Rice Exporter

The President of the African Development Bank (AfDB), Mr. Akinwumi Adesina, has said Africa’s richest man, Aliko Dangote, will become the largest exporter of rice in the world by 2021. Adesina said this at the Mo Ibrahim Forum in Morocco at the weekend. He said Africa should focus on agriculture to drive growth and employment on the continent. Adesina, according to the News Agency of Nigeria (NAN), recalled that during his tenure as Nigeria’s Minister of Agriculture, Dangote decided to invest in local production of rice due to government’s import substitution policies. He said Dangote initially planned a $300 million investment in production and processing of rice in Nigeria but later changed it to $1 billion three months after. “If they continue that policy, he would probably be ...
Dangote To List Dangote Refinery On The Nigeria Stock Exchange
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Dangote To List Dangote Refinery On The Nigeria Stock Exchange

The founder of the Dangote Group, has promised to list his Dangote Refinery on the Nigerian Stock Exchange. He also promised to list every single company that would be created by Dangote Group of companies. According to Premium Times, Dangote stated this on Monday in Lagos during a bell ringing ceremony at the Nigerian Stock Exchange as part of activities to mark his 60th birthday. He said he would ensure the listing of more of his companies on the NSE to deepen the market. Dangote said that the group plans to significantly expand its operations across Nigeria within the next 10 years in a move that would result in an increase of shareholders across the group’s companies to over 2 million.  
Dangote Dances As Davido Sings At His 60th Birthday
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Dangote Dances As Davido Sings At His 60th Birthday

Billionaire, Aliko Dangote celebrated his 60th birthday on Monday. He took to the dance floor last night as Davido sang his latest song IF.Also present at the party were Peter and Paul Okoye of PSquare,Dangote's daughter Halima and friends. Paul Okoye shared the video on IG and wrote... “When naira meets dollar young money vs large money alikodangote happy birthday sir.” See photos below and watch the video on the link above
Suspected Thugs Destroy Proposed Dangote-affiliated Onitsha Depot
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Suspected Thugs Destroy Proposed Dangote-affiliated Onitsha Depot

Awka—THUGS suspected to be agents of an Anambra-born business mogul (names withheld), have been fingered in the wanton destruction of the property belonging to an Onitsha –based company, Bontus Oil and Gas Ltd. Bontus Oil and Gas is currently working out an arrangement with Dangote Group to be its main agent in Onitsha and its environs. Officials of Dangote Group were in Onitsha penultimate week, during which they inspected facilities in the massive site, which was abandoned for many years before Bontus acquired it and contacted Dangote for a possible collaboration between the two companies for the distribution of its products, including sugar, rice, noodles, cement, among other products, in the South East. However, barely one week after the inspection, residents of the commercial to...
Dangote, Adenuga’s Net Worth Drops By $7.4bn
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Dangote, Adenuga’s Net Worth Drops By $7.4bn

The President of the Dangote Group, Alhaji Aliko Dangote; and Chairman of Globacom, Dr. Mike Adenuga, saw their net worth declined by $3.2bn and $4.2bn, respectively in the past year, according to Forbes 2017 World’s Billionaires list. Dangote retained his position as Africa’s richest person in the latest ranking, with a fortune of $12.2bn, although he was ranked 105th as against 51st last year. The Chairman of Forte Oil, Mr. Femi Otedola; and the Chairman/Chief Executive Officer, BUA Group, Abdulsamad Rabiu, were missing on the list. They were worth $1.8bn and $1.1bn, respectively last year. In 2015, Otedola re-joined the list of African billionaires after a five-year hiatus, with a $1bn fortune. The net worth of the Founder and Executive Chairman, Famfa Oil Limited, Mrs. Folo...
Dangote To Launch Rice Mill In Nigeria
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Dangote To Launch Rice Mill In Nigeria

LAGOS Feb 13 (Reuters) - Dangote Group, controlled by Africa's richest man Aliko Dangote, plans to launch a rice mill with a farm scheme in Nigeria to tap growing demand for paddy in Africa's biggest economy, the company said on Monday. Rice demand in Nigeria hit 6.3 million metric tonnes (MT) in 2015, with 2.3 million metric tonnes produced at home, leaving the country reliant on imports, according to the agriculture ministry. Dangote Group subsidiary Dangote Rice Ltd will launch a pilot project starting with 500 hectares of farmland by Gonroyo Dam, Nigeria's second-largest dam, located in the northern state of Sokoto. The multi-million-dollar project will be expanded to cover a land area of 25,000 hectares across three sites in northern Nigeria by the end of the year, the firm s...
Nigeria, Morocco Seal Deal On Gas Pipeline Project
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Nigeria, Morocco Seal Deal On Gas Pipeline Project

Nigeria and Morocco on Saturday signed a bilateral agreement on the promotion of a regional gas pipeline project that will connect Nigeria and Morocco's gas resources as well as those of other West African nations to foster regional economic integration. Nigerian Minister of Foreign Affairs Geoffrey Onyema disclosed this in a communiqué presented to the visiting Moroccan King President Mohammed VI and President Muhammadu Buhari at the Aso Rock Presidential Villa in Abuja. The minister stated that the gas pipeline project would accelerate energy and electrification projects across the affected member countries. He said the pipeline project would be designed with the participation of all stakeholders to create a competitive regional electricity market with a potential to be connected ...
Buhari & Dangote Sign 7 Bilateral Agreements With King Mohammad Of Morocco
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Buhari & Dangote Sign 7 Bilateral Agreements With King Mohammad Of Morocco

'TheKingMuhammadVisitsToNigeria Bilateral Agreements were today signed between #Nigeria & #Morocco, during Meetings between President Buhari & King Mohammad The Agreements are as follows: 1. Agreement between OCP Group and Dangote Group to develop the fertilizer business in Nigeria 2. Cooperation Agreement between Dangote Group & OCP Group in strengthening the local blending capabilities and Agricultural Ecosystem 3. Agreement on the Exemption of Visas for Diplomatic and Official/Service Passports 4. Bilateral Air Services Agreement (BASA) between Nigeria and Morocco 5. Agreement on Marine Fisheries Cooperation (Minister of Agriculture, Audu Ogbeh signed on behalf of Nigeria) 6. Agreement in the field of Agriculture (signed on behalf of Nigeria by Minist...
Nigeria’s Economy Still Number One in Africa – Dangote
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Nigeria’s Economy Still Number One in Africa – Dangote

The President of Dangote Group and Africa’s richest man, Aliko Dangote has said Nigeria remains the number one economy in Africa, despite recent economic challenges. Speaking at the 2016 Presidential Policy Dialogue session, organised by the Lagos Chamber of Commerce and Industry Dangote said he is optimistic that Nigeria will soon overcome the challenges and remain stronger. According to him the problem with the economy did not start with this current administration while he maintains faith that the country is still the best place to invest. On Wednesday, Bloomberg reported that South Africa has now overtaken Nigeria to regain its position as Africa’s largest economy due to the continued depreciation of the naira against the dollar. The news agency used the data by the International...

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