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Dangote Cement Sustains 54,000 Jobs In 4 African Countries

Peter Okunoren

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President of Dangote Group, Aliko Dangote has said that despite the challenging economic situation in 2019, Dangote Cement was able to sustain 54,000 jobs in four African countries, where the company has its operations. The countries are Nigeria, Ethiopia, Senegal, and South Africa.

The business mogul who disclosed this to shareholders at the company’s 11th Annual General Meeting in Lagos said that more jobs would be created as the company intensifies the export of clinker to other neighboring countries from Nigeria.

“According to our 2019 socio-economic impact assessment study specifically on our operations in Nigeria, Ethiopia, Senegal, and South Africa, we sustained 54,005 jobs (direct, indirect, induced) in these four markets in the year under review,” he said.

Dangote told the shareholders that the year 2019 was a strong year given the tough business environment across most of its operating geographics, disclosing that the group recorded volumes of 23.7 million metric tons and revenues of ₦891.7 billion.

He said: “We recorded a strong EBITDA margin of 44.3 percent. As a result of this performance, the board has recommended for your approval a dividend of ₦16.00 per ordinary 50 kobo share.”

Speaking on the local Nigerian operations, he said: “Nigeria’s cement market grew slightly in 2019. We estimate that total market consumption was up between 2 per cent-3 percent on the 20.7Mt estimated in 2018.”

Dangote explained that the modest performance was in spite of the fact that the market generally was impacted negatively by the disruptions related to the 2019 election cycles, heavy rains, and the loss in land export volumes due to the border closure.

“Dangote Cement’s Nigerian operations remained at 14.1Mt in 2019, including export sales of 0.45Mt. Domestic sales in Nigeria were nearly 13.7Mt, compared to 13.4Mt in 2019. This implies a 2 percent growth mirroring the estimated GDP growth for the year. However, land exports reduced to 0.45Mt from 0.7Mt for the full year owing to the border closure in the last few months of 2019.

“The Bag of Goodies promotion, launched in July, drove strong increases in our Nigerian volumes in the third quarter”, Dangote pointed out, adding that the innovative marketing effort enabled the company to maintain its market share despite the 4.5Mt new capacity which came into the market during the year.”

He alluded to the new feat by Dangote Cement in commencing export of clinker via shipping from the Apapa and Onne ports to West and Central Africa, adding that the management was encouraged by the performance of its offshore operations.

Recall that the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, while lauding the investment drive of Dangote recently said that he was excited with the progress made at Dangote Refinery and Petrochemical plant so far, said that when it becomes operational, the refinery and petrochemical plant would increase its workforce from the current 34,000 to over 70,000.

BIG STORY

One Year After, Abuja Court Fines Senator Abbo N50m For Assaulting Woman At Sex-Toy Shop

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The High Court of the Federal Capital Territory in Maitama, Abuja, on Monday, awarded N50m damages against the senator representing Adamawa North, Elisha Abbo, to be paid as compensation to a female attendant at a sex-toy shop, Osimibibra Warmate, whom he assaulted.

Justice Samira Bature gave the order in her judgment on the fundamental rights enforcement suit instituted by Warmate against the senator.

The video clip of the alleged assault of the woman by the senator had gone viral.

The police had in 2019 charged before a magistrate court in Zuba, Abuja with one count of assaulting Warmate at a sex-toy shop in Abuja.

But the presiding magistrate, Abdullahi Ilelah, had dismissed the case after upholding the no-case submission filed by the senator.

Warmate, through her legal team including Esosa Omo-Usoh and Nelson Onuoha, went on to sue Abbo in a fundamental rights enforcement suit filed before the FCT High Court and marked FCT/CV/2393/19.

Justice Bature upheld the plaintiff’s case in a judgment on Monday by ordering the senator to pay N50m to the applicant.

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War Of Words: Amaechi Fights Wike At Supreme Court Justice’s Burial

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Rivers State Governor, Nyesom Wike, and his predecessor, Rotimi Amaechi, on Saturday engaged in a verbal fight at the burial of a former Justice of the Supreme Court, Adolphus Karibi-Whyte, in the Abonnema, Akuku-Toru Local Government Area of the state.

Amaechi, who is the Minister of Transportation, while speaking at the funeral service, lamented what he termed the rising insecurity and political intimidation in the state, saying the state was back to the time of Ateke Tom, a former militant leader, who is now the traditional head of Okochiri town in Okrika LGA of the state.

“You have lost your voice. The sage (the late justice) has gone under and nobody is speaking. When I was governor, I gave people voices, but they have blocked those voices.

“Everyone is scared. We are going back to when Ateke held sway. We are going back to the period where we run away from our people. We are back to a period when nobody could speak. But from next year, I will begin to speak, if nobody wants to speak.

“We are all here because we need to bury a man God has blessed. I have stopped traveling because of bad weather, but I told myself I must be here because of Justice Whyte.

“If you knew Justice (Karibi-Whyte) very well, you will know I was close to him. I was one of the few people he mentored,” Amaechi stated.

Wike on his part described the late Karibi-Whyte as an epitome of unshakable integrity, civility, and dignity, but noted that comments credited to Amaechi were embarrassing.

Responding to Amaechi, Wike who was represented by his Chief of Staff, Chief Emeka Woke, said the minister had lost touch with developments in the state, adding that since the launching of Operation Sting by his administration, the security situation had improved greatly.

Wike said, “It is unfortunate for Amaechi to come to Kalabari land and accuse former President Goodluck Jonathan of not developing the area six years after he had left office.

“I wonder why the former governor will choose to make such embarrassing remarks at the funeral of late Justice Karibi-Whyte, a man he (Amaechi) claimed to be his mentor.”

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Nationwide Strike: Nigerian Govt Releases Details Of Agreements With Labour Leaders

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The Federal government on Monday made public the details of its agreements with organised labour.

A statement on FG’s Twitter handle said officials held consultation meetings with leaders of Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) on September 15, 24 and 27, 2020.

The resolutions reached included establishment of Technical Committee on Electricity Tariff.

It is chaired by the Minister of State, Labour and Employment, Festus Keyamo, and comprises ministries, agencies, NLC and TUC.

They will work over the next two weeks.

They are to examine the justification for the electricity tariff review; review the deployment of meters, and advice FG on issues hindering implementation.

During the two-week period, DISCOs will suspend implementation of the electricity tariff adjustments.

The statement reiterated that the petrol subsidy regime has stifled downstream sector growth.

“In addition, the dire financial circumstances of the Federation preclude the ability to sustain any subsidy on PMS, and thus makes the deregulation of the sector inevitable. NNPC will expedite the rehabilitation of its Refineries, with a 50% completion target for Port Harcourt by December 2021.

“NNPC will integrate national leadership of NUPENG and PENGASSAN into the Steering Committee established to oversee the Rehabilitation Exercise. A Validation Team comprising of Reps of @NNPCgroup, @nigeriaeiti, @icrcng, NUPENG and PENGASSAN will be established to monitor the progress of the Rehabilitation of Refineries, Pipelines and Depot Networks.

“The Federal Government will continue to facilitate licensing and delivery of new modular and regular refineries. FG will ensure delivery of 1 million CNG/LPG Autogas Conversion Kits, Storage Skids and Dispensing Units under the Nigeria Gas Expansion Programme, by December 2021.

“A Governance Structure for this project will be established and will include Labour Representatives. FG will work to facilitate the removal of tax on minimum wage. FG will make available to Labour 133 CNG/LPG-driven Mass Transit Buses immediately, for use in major cities nationwide, and thereafter extend to all States and LGAs before December 2021.

“Ongoing FG Housing Initiatives will have 10 per cent allocated to Nigerian workers. Moribund National Labour Advisory Council (NLAC) will be revived before the end of 2020, to institutionalize dialogue and engagement on socio-economic and labour issues to forestall future crises,” it disclosed.

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