Tuesday, November 30

Tag: Dangote Industries Limited

Sugar War: Dangote Demands Sanction Against BUA
Business

Sugar War: Dangote Demands Sanction Against BUA

Facts have emerged on how Nigeria's biggest sugar producer, Dangote Industries Limited, alongside another producer, flour mills of Nigeria plc, approached the federal government to reprimand BUA, their rival in a bid to shut down its business. Correspondences exchanged between the companies and the federal ministry of trade and investment were exclusively obtained by POLITICS NIGERIA. Their grouse is against BUA's most recent sugar refinery plant in the Bundu Free Trade Zone, Portharcourt, Rivers state capital, which they accused of importing raw materials against regulations and the National Sugar Master Plan (NSMP) hinged on the backward integration plan. The development of NSMP commenced in 2008 under the administration of the late President Umaru Musa Yar’Adua but was approv...
Dangote Loses $2.5bn In One Month – Bloomberg
Business

Dangote Loses $2.5bn In One Month – Bloomberg

The President/Chief Executive, Dangote Industries Limited, Aliko Dangote, saw its total net worth drop by $2.5bn in the last 30 days, according to Bloomberg Billionaires Index. The index, which is a ranking of the world’s 500 richest people, showed that his wealth fell from $15.9bn as of February 25, 2020, to $13.4bn on March 26. It had risen to a high of $16.5bn on January 27. He was the only Nigerian on the list of 500 billionaires and retained his position as Africa’s richest person. “Africa’s richest person controls Dangote Industries, a closely held conglomerate. The Lagos, Nigeria-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement, which had revenue of N901.2bn ($2.5bn) in 2018. It also has interests in sugar, salt, flour, fertiliser and pack...
Aliko Dangote Says Apapa-oshodi Road Will Last For 40 Years When Completed
Business

Aliko Dangote Says Apapa-oshodi Road Will Last For 40 Years When Completed

As part of Dangote Industries Limited’s commitment to the Federal Government of Nigeria, Group President/CE of Dangote, Aliko Dangote took the Minister of Works and Housing, Babatunde Fashola on an inspection tour of the 35-kilometre Apapa-Oshodi-Oworonsoki-Ojota highway currently under construction by Dangote Industries Limited. The work began in 2018, as part of a bargain between the company and the Federal Government to enjoy a 10-year tax rebate that accrues to N72.9 Billion. The road has been subjected to heavy traffic flow. An initial attempt to work on the road fell apart, it was approved for N15 Billion in 2013, work on the road stopped after the 2015 general elections. During the inspection, Fashola told members of the press, “The Federal Government is dedicated to the spe...
NASCON launches New Dangote Classic Seasoning Cubes
News

NASCON launches New Dangote Classic Seasoning Cubes

Management of the NASCON Allied Industries Plc, a subsidiary of the Dangote Industries Limited has pledged its commitment towards a healthy living by the people by producing products that meet the physical and mental needs of the people. Executive Director, Commercial NASCON Allied Plc, Fatima Aliko Dangote gave this pledge in Kano during the unveiling of new Classic Seasoning Cube in addition to its array of food seasonings already in the market. The new product which the NASCON boss described as a product of thorough and painstaking research into the preference of the people in the seasoning sub sector of the food industry came in the wake of a similar launch recently, of new Curry Powder and Stew Mix from the stable of NASCON. Fatima Aliko Dangote said she had no doubt in her mind th...
Reps, Dangote Refinery To Collaborate On Local Content
News

Reps, Dangote Refinery To Collaborate On Local Content

THE House of Representatives Committee on Local Content said it is ready to collaborate with Dangote Refinery on the effective implementation of the Local Content Act in the country. FCILITY TOUR: From left: Chairman, House of Representatives Committee on Local Content, Hon. Emmanuel Ekon; President/CE, Dangote Industries Limited, Aliko Dangote; and House of Representatives Local Content Committee member, Hon Zakariya’u Galadima during the facility tour by House of Representatives Local Content Committee members to Dangote Industries Limited, in Lagos. The Chairman of the Committee, Mr. Emmanuel Ekon, who stated this when members of his committee visited the $18 billion refinery complex in Lagos, said the lawmakers were ready to guide the company to be in compliance with local content l...
Dangote Sells Noodle Plants To Rival For N3.75bn
News

Dangote Sells Noodle Plants To Rival For N3.75bn

A unit of Dangote Flour Mills, Dangote Noodles Limited, has sold two production lines to rival pasta maker, De United Foods Industries, for N3.75bn ($12.26m), the company said on Tuesday. De United said it had signed an agreement with Dangote Noodles to buy plants at its Ikorodu and Calabar factories. It will also buy stock worth N383.94m, The deal comes after Dangote sold a small stake in its cement business to foreign investors in a one-off stock market deal valued at N27bn. Dangote Flour Mills, majority owned by Africa’s richest man, Aliko Dangote, had said it wanted to quit the noodles business to focus on flour and pasta production. Nigeria’s noodle market is fiercely competitive and De United, with a market share of around 70 per cent, is seeking to consolidate the sector. Priva...
Dangote Acquires Gas Processing Company in Netherlands
News

Dangote Acquires Gas Processing Company in Netherlands

Africa's richest man, Aliko Dangote has completed the acquisition of Twister B.V., a gas processing company headquartered in the Netherlands. A statement by his company, Dangote Industries Limited (DIL) announcing the new acquisition, says the new company would help design and build the gas plants which would be critical in processing gas from oil fields for transportation via Dangote’s planned sub-sea pipeline (EWOGGS) for ultimate consumption by various industries and power plants. The statement quotes Dangote as saying “This was an important acquisition for us. Twister’s cutting edge gas processing technology is fundamental to delivering our strategy to unlock about 3bcfd of gas in order to meet Nigeria’s gas needs.” Chief Executive Officer of Twister, John Young who also spoke...

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