Dangote

Dangote Cement Plc says several of its staff were “harmed” during an invasion of its factory at Obajana in Kogi State on Wednesday. The Kogi government sealed the plant, formerly owned by the state government, on the allegation that it was improperly acquired by Dangote Industries Limited, the parent company of the cement giant, two decades ago. The firm was incorporated by the Kogi government as Obajana Cement Plc in 1992, while Dangote Industries acquired it 10 years after. A government report cited by the…

Dangote Cement Plc says several of its staff were “harmed” during an invasion of its factory at Obajana in Kogi State on Wednesday. The Kogi government sealed the plant, formerly owned by the state government, on the allegation that it was improperly acquired by Dangote Industries Limited, the parent company of the cement giant, two decades ago. The firm was incorporated by the Kogi government as Obajana Cement Plc in 1992, while Dangote Industries acquired it 10 years after. A government report cited by the…

The Manufacturers Association of Nigeria (MAN) has criticised the Kogi State Government’s forced closure on Wednesday of the Obajana factory of Dangote Cement Plc. The trade union said it feared the shutdown could have far-reaching implications for the economy as well as labour and investment. Dangote Group, under which Dangote Cement operates, is one of Nigeria’s biggest employers of labour after the federal government. “You cannot use strong-arm tactics to shut them down or impose very severe restrictions on…

Kogi State House of Assembly Wednesday directed ordered the shutdown of a factory of Dangote Cement Plc situated at Obajana in the north-central state, saying the asset was not legitimately acquired by the firm. Aliko Dangote, Africa’s richest man and the company’s majority shareholder, has been summoned to a meeting with the lawmakers, the state legislative arm said, but demanded more time to do, according to a statement seen by PREMIUM TIMES. An email seeking comments from Anthony Chiejina, the spokesperson of…

Africa’s largest business conglomerate, Dangote Industries Limited, has been adjudged the Outstanding Indigenous Conglomerate of the Decade, carting home eight different Economic Community of West African States Manufacturing Excellence Awards (EMEA) in the process. In the same vein, two subsidiaries of the Conglomerate, Dangote Cement Plc and Dangote Sugar Refinery Plc also received awards of the renowned Marketing Edge magazine’s Brands of the Decade. While the EMEA awards were given by the Nigeria’s Daily…

The Nigerian government says it has high hopes the Dangote Refinery will help solve its petroleum importation challenge. And it hopes for more: amid fears of oil glut as nations move to cleaner energy, Nigeria will still be able to sell to the privately-owned refiner for at least 20 years. To do this, the government has locked down a right-of-first-refusal agreement with the company, with Nigeria owning 20 per cent of the firm. The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited,…

The management of Dangote Sugar Refinery Plc on Monday said it will significantly reduce the importation of sugar into the country by 40 per cent and pave the way for the employment of over 30,000 youth. A statement by the company quoted the president of Dangote Group, Aliko Dangote, to have said that the firm was embarking on Phase II of its sugar project, which will cover over 100,000 hectares to make the sugar plant, the largest in Africa. Mr Dangote said the integrated sugar complex to be located in Tunga,…

Dangote Cement Group on Thursday said its chief finance officer, Guillaume Moyen, has resigned. The company in a disclosure to the Nigerian Exchange said Mr Moyen’s resignation is based on personal reasons and takes effect from June 30,2022. It added that Gbenga Fapohunda has been appointed as the company’s acting CFO. “This to inform Nigerian Exchange Limited (NGX) and other stakeholders of the resignation of Mr Guillaume Moyen as Group Chief Finance Officer of Dangote Cement Plc (DCP)…

Nigerian stocks crumbled to their lowest level since May 4 on Monday, with the benchmark index dropping almost 2 per cent or N550.6 billion as investors dumped huge volumes of Dangote Cement for sale, forcing the cement-maker to lose as much as one-tenth its value. Depreciation in the shares of FBN Holdings and International Breweries also compounded the plight of the market, which is yet to report a gain in the past ten days. Analysts at brokerage firm and investment bank United Capital…

Salt maker NASCON Allied Industries Plc said it has approved remuneration for its directors and board chairperson. The company’s board said in a regulatory filing on Tuesday it endorsed a pay of N3 million for its chairperson and N2.5 million for each of its non-executive directors, at its annual general meeting on Friday. The company’s non-executive directors include Halima Aliko-Dangote, daughter of Africa’s richest man Aliko Dangote. Others are Olakunle Alake, Abdu Dantata, Sada Ladan…