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How Aliko Dangote supported businesses in Nigeria-Sambajo

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President of the Dangote Group Aliko Dangote has been described as a rare gem and kind hearted industrialist for nurturing trading and commercial activities in North and across Nigeria for almost four decades.

Speaking when he visited the Dangote pavilion at the ongoing Kano International Trade Fair, Alhaji Salisu Sambajo, said: “ I can say confidently that Aliko has been supporting us for the past 40 years, and he has lifted us up when our businesses where going under.”

Mr. Sambajo is a Kano based international business tycoon, and chairman of the Sambajo General Enterprises Limited. He’s considered one of the biggest business names in northern Nigeria.

“Aliko’s support in growing commercial activities in the North and all over the nation cannot be quantified. The history of Nigeria’s commerce, and indeed of industrialization, cannot be completed without his name topping the list. It’s only God that can reward him,” he said.

The business mogul added: “I am telling you this confidently because I am one of the beneficiaries of his generosity. No one can deny his kindheartedness and support, and God is with such people.”

He recalled that Mr. Dangote had committed billions of naira through Bank of Industry for the development of small businesses in Nigeria, adding that the Fund was expected to create one million jobs.

The business mogul also recalled that Mr. Dangote had supported the Federal Government with billions of naira during the 2012 flooding in Nigeria.

“During the Covid-19 pandemic, we read it in the news that Aliko donated billions of naira. All these are coming from one person. Nigeria should be grateful to him,” he said.

He added that: “ Also remember that at the peak of the Boko Haram crisis, Aliko Dangote had donated a housing estate worth billions to the Internally Displaced persons in Borno State. I can go on and on. His interventions are so numerous.”

According to the businessman, “Aliko has since stopped working for himself. All he has been doing is to lift people out of poverty. I remember whenever we recorded losses, Aliko will lift us up again and again. I don’t want to go into specifics. He’s a very kind and generous person. He deserves all our respect and it’s a big honour that God created such a man in Nigeria.”

Mr. Sambajo said it is not for nothing that Mr. Dangote, is Nigeria’s biggest private sector employer.

The business mogul traced relationship with Mr. Dangote to over 40 years, adding that he has been a great philanthropist who has his country and Africa at heart.

Mr. Sambajo described the upcoming Dangote Refinery as a legacy project that will positively impact the country’s economy.

Dangote Group is the major sponsor of the ongoing 44th Kano International Trade Fair.

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Dangote Crashes Diesel Price To N1,000 Per Litre

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In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre.

While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.

This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.

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Dangote Advocates Local Content Development At Kaduna Fair

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President, Dangote Group, Aliko Dangote has said that the Dangote Industries Limited, DIL, is a trail blazer of local content values.

DIL, under the visionary leadership of the foremost Business man, Aliko Dangote, has been championing the cause of local content and contributing significantly to the economic growth of Nigeria and the African continent as a whole.
He was represented at the ongoing Kaduna International Trade Fair by his Special Adviser, Fatima Wali-Abdulrahman.
She said local content, at its core, is about harnessing the potential within a country’s borders for the benefit of its people.
“By investing in local industries, talent, and resources, DIL does not only create jobs but also empower communities and foster sustainable economic growth”
She said that the aim is to commit to deepening local content values across its various business sectors in line with the theme of the 45th series of the Kaduna Trade Fair- Sustainable Economic Recovery Through Deepening of Local Content Value Chain
Mrs Fatima reiterated that Dangote Industries sources it’s limestone locally, and is adjudged the biggest employer of local labour in Nigeria, and now refining its crude to bring succor to Nigerians.
Dangote Group has made substantial investments in industrialization- from cement to sugar, from salt to agriculture and more recently oil & gas, all strategically positioned to leverage local resources and contribute significantly to the nation’s GDP with resounding results like the creation of employment, skills enhancement, capacity building, etc.
She noted that in the area of Philanthropy, Dangote would continue to support the people and government of Kaduna State and Nigeria through the Aliko Dangote Foundation (ADF).
“In addition to these domestic contributions, the Dangote Group has expanded its footprint across the African continent, promoting regional economic integration and positioning Nigeria as a key player in intra-Africa trade.
She described the theme of this year’s trade fair as a clarion call for aNigerians to prioritize and deepen commitment to local content values as the Group stands as a shining example in this regard

While congratulating the Council Members of KADCCIMA, Kaduna State Government and the people of the state for hosting yet another successful Trade Fair, she enjoined all and sundry to visit Dangote pavilion and take advantage of its numerous innovative products.
President of KADCCIMA, Ishaya Idi in his comments said this year’s theme focuses attention on a critical economic game changer.
“The chamber has noted with great concern that despite the abundance of solid minerals, agricultural commodities and raw materials, our nation continues to lose billions of dollars annually on account of lack of value addition in its handling, production and export processes
“Focus is placed more on instant profits from exporting raw materials. with low level of value chain addition
Idi expressed gratitude to Aliko Dangote for the unending support to KADCCIMA
“The chamber has enjoyed the partnership and support of Dangote Group in promoting the competitiveness of our nation in the global market arena through aggressive value chain development.
The new Dangote Dangote Refinery, reported to be one of the largest in the world with daily capacity of upto 650,000 barrels per day is more than twice the daily consumption of Nigeria, even as Dangote fertilizer continues to make local and international farmers happy due to its high quality
The chamber therefore congratulated the President of the Dangote Group Aliko Dangote for the tremendous progress recorded by the conglomerate, Mr. Idi stated.

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2023: Dangote Cement Increases Shareholder’s Dividend By 50%, To N30 Per Share

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…sales from African subsidiaries rose by 12.7%

In line with the promise of Chairman, Dangote Cement, Aliko Dangote at the company’s 2022 Annual General Meeting (AGM), of an enhanced return on Investments to all the shareholders and other stakeholders in Dangote Cement, Plc, the company’s Management for the year ended December 31, 2023, has proposed an increase in the dividend payout to the shareholders, by 50 percent, to N30 per share.

The proposed increase in dividend is subject to ratification by the shareholders at the forthcoming, AGM. Proposing a dividend of N30 per share at a period when many firms are declaring losses is an indication of the resilience of Dangote Cement and the prospects it holds for investors.

A breakdown of the results indicated that Africa’s largest cement manufacturer recorded improvement in all performance measurement indicators with group revenue rising by 36.4 percent to ₦2,208.1 billion while Profit after tax (PAT) was up by 19.2 percent to ₦455.6 billion. Earnings per share went up by 18.8 percent at ₦26.47.

Dangote Cement is garnering more market share across the continent with pan-Africa volumes going up by 12.7 percent to 11.3Mt.

Group Managing Director, Dangote Cement, Arvind Pathak speaking on the results said “This positive full-year outcome is a combination of the strength in the diversity of our operations across Africa and our sustained drive to contain cost amidst an accelerating inflationary environment. The Group achieved double-digit growth in revenue at ₦2,208.1 billion, while Group EBITDA reached a record high, increasing 25.1 percent to ₦886.0 billion.

Despite the challenging macroeconomic conditions, 2023 was yet another testament to the effectiveness of our diversification strategy. Our diverse operations acted as a cushion, providing resilience to country-specific risks. Pan-African volumes were up 12.7 percent and now account for 41.2 percent of Group volume. Consequently, pan-African revenue increased by a record 123.2 percent to ₦925.9 billion, while EBITDA surged by over four-fold to ₦263.7 billion.”

He added, “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.

Looking ahead, following the commissioning of our 0.45Mta grinding plant in Takoradi, we are focusing on our “export to import” strategy in West and Central Africa, while concurrently optimising assets in Eastern Africa. Our strategy remains centered on enhancing our value proposition through the production of high-quality cement and delivering sustainable value to our stakeholders.”

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