Dangote
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Dangote, MTN, others lose N1.7tn to naira depreciation
Dangote Group, Nestle Nigeria and MTN Nigeria, alongside four of Nigeria’s most capitalised companies, lost N1.7tn to the depreciation of the naira in 2023. According to an analysis of their financial statements published on the website of the Nigerian Exchange Group, the listed firms incurred significant losses in the 2023…
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Dangote Cement increases dividend by 50%, to N30 per share
Dangote Cement, Plc has proposed an increase in dividend payout to its shareholders, by 50% to N30 per share for the year ended December 31, 2023. The proposed increase in dividend is subject to ratification by the shareholders at its forthcoming Annual General Meeting, AGM. Proposing a dividend of N30…
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Price hike: Tinubu directs Dangote, BUA, others to revert cement to old prices
The Minister of Works, Dave Umahi, says President Bola Tinubu has directed cement companies to revert to old prices following a price hike. Umahi stated this shortly after inspecting the BUA cement factory in Sokoto on Thursday. He said, “On the issue of pricing, I can authoritatively say that they…
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Government approval delays Dangote refinery fuel
Indications have emerged that lingering regulatory approvals have stalled Dangote Petrochemical Refinery’s plan to release aviation fuel (Jet A1) and diesel for sale in the Nigerian market in January, findings by The PUNCH have shown. One week after the January 31 timeline set by the management of Africa’s largest refinery…
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Aliko Dangote faces toughest political challenge despite opening Nigeria refinery
After years of delay and cost overruns, the 650,000 barrels a day refinery in Nigeria owned by Africa’s richest man, Aliko Dangote, processed crude oil for the first time this month, marking the first operational step for a project he has dubbed a “game changer” for the country. The $20bn…
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Why EFCC Raided Dangote Group’s Headquarters in Lagos
Operatives of the Economic and Financial Crimes Commission (EFCC) on Thursday raided the headquarters of the Dangote Group in connection with the ongoing investigation into forex allocations in the country. Sources say that on arrival at the headquarters of one of Africa’s largest conglomerates in Lagos, the EFCC operatives demanded…
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Has Emefiele Thrown Aliko Dangote Under The Bus? Insiders Allege Payback From Emefiele As EFCC Ransack Dangote’s office *How Dangote Allegedly Snubbed Emefiele In Time Of Need Pundits Recall When Dangote Granted Emefiele Unrestricted Access To His Private Jet Beware the fury of a betrayed friend. A patient, pitiless friend…
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Buhari Spent More Than $19bn Used For Dangote Refinery To Fix Nigeria’s Refineries – Gov Sule
Governor Abdullahi Sule of Nassarawa State says the government of ex-President Muhammadu Buhari spent more than the $19 billion used in building the Dangote Refinery in the maintenance of the country’s refineries. Nigeria has refineries in Kaduna, Port Harcourt, and Warri but none is functioning with experts saying the recent…
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Abdulsamad Rabiu joins Aliko Dangote on Bloomberg’s elite wealth list
Abdulsamad Rabiu’s net worth is now $8.24 billion, making him one of the billionaires on Bloomberg’s wealth list. He is the founder and chairman of BUA Group, which includes subsidiaries such as BUA Cement and BUA FoodsBUA Foods reported strong sales growth in the first quarter of 2023, leading to…
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Rabiu, Dangote, Tinubu, splash over N500m at Buhari’s book launch
Guests at the official unveiling of two books on the President, Major General Muhammadu Buhari (retd.), on Friday, splashed over N500m to obtain copies. The President of Ghana, Nana Akufo-Addo, unveiled the books at a ceremony held at the State House Banquet Hall in Abuja. The unveiled books are –…