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2021 First Half: Dangote Sugar Records Strong Growth

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Dangote Sugar Refinery recorded strong improvements in performance indices in the half-year ended June 30, 2021, as group revenue increased by 27.8 percent to N131.95 billion in contrast to N103.23 billion recorded at the same period in the preceding year.

According to the refinery’s unaudited results for the period, Gross profit grew double-digit at 37.3 percent to N28.59 billion compared to N20.82 billion at the preceding year due to better topline performance.

Group sales volume increased to 388,589 tonnes while production volume also increased by 7.6 percent to 403,846 tonnes driven by operations optimization drive.

Commenting on the Company’s half-year 2021 performance, the Group Managing Director/CEO, Ravindra Singhvi said; “We commenced the year on a strong footing with an impressive performance in the first half as the financial results have shown, with a stronger Q1 topline growth and a robust Q2 topline growth year on year.

During the period under review, we launched our new packaging designs for the 50kg fortified and non-fortified sugar bags with the theme “Dangote Sugar has a new look…. Same Great Quality”. The theme reaffirms the quality of our product and inspires a deeper connection to the Dangote Sugar brand among our valued customers and consumers, whilst refreshing our market presence as the leading sugar brand in Nigeria.”

He added, “…as part of our Supply Chain Management Sustainability journey, we continued to enhance our Outgrowers Scheme. The technical and agriculture support provided for them over time has led to the improved yield from our Outgrowers sugarcane farms at the Numan Sugar Estate. This effort will be sustained to ensure the socio-economic growth of our immediate communities and improved the sugar cane supply for production.

The team is committed to navigating the second half of the year, keeping the health and safety of our people and partners as a top priority. Our Refinery in Apapa and Backward Integration Operations in Numan, Adamawa State, and Tunga, Nasarawa State continue to operate in compliance with our health and safety protocols while ensuring our commitment to the environment and sustainable business practices are maintained.”

He stated that the recurrent challenges with Apapa traffic gridlock persisted during the 1st half of the year but expressed optimism that the truck call-up system will address the situation. Achievement of the Dangote Sugar Backward Integration Projects targets, he added “remains our focus. We are resolute and will continue in our quest to put Nigeria on the path of sugar self-sufficiency and on the world sugar map.”

Dangote Sugar Refinery is Nigeria’s largest producer of household and commercial sugar with a 1.44M MT refining capacity at the same location. The refinery located at Apapa Wharf Ports Complex, refines raw sugar imported from Brazil to white, Vitamin A fortified refined granulated white sugar suitable for household and industrial uses.

It has the Backward Integration goal of becoming a global force in sugar production, by producing 1.5M MT/PA of refined sugar from locally grown sugar cane for the domestic and export markets.

To achieve this, Dangote Sugar Refinery Plc acquired DSR Numan Operations (Savannah Sugar Company Limited), located in Numan, Adamawa State in December 2012, and embarked on the ongoing rehabilitation of its facilities and expansion of its 32,000 hectares’ sugarcane estate. In September 2020, the scheme of merger between DSR and Savannah Sugar Company Limited was completed which gave birth to a bigger and stronger business with considerable opportunity for growth and delivery of superior benefits to all stakeholders. The expansion of the sugar estate is still ongoing as well as the development of the greenfield site acquired at Tunga, Nasarawa State for the achievement of DSR’s sugar for Nigeria development master plan.

The Nasarawa Sugar Company Limited is the registered subsidiary of Dangote Sugar Refinery Plc. The 78,136 hectares Sugar Project Site is located at Tunga, Awe Local Government Area, of Nasarawa State. Massive development in agriculture, irrigation infrastructure amongst others is ongoing at the site.

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NEWS

How BEEDEL Constructions Beautified Prime Oyo State Location

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In many ways, the Nigerian society, fraught with its many problems and challenges, ends up forging men driven to building legacies and giving back to society. It is one of the many ways we as a people keep growing and getting better at leading good lives.

Bukola Odeleye, CEO Beedel Constructions is certainly in the comity of men who continually strive to give back to society through creative, yet essential Corporate Social Responsibility (CSR) initiatives.

Earlier in the week, as part of its corporate social responsibility, Beedel Constructions commissioned the reconstructed and beautified Adeoyo-Ringroad, roundabout in Ibadan, bringing new life to the arena.

Known far beyond the shores of Nigeria for their excellent construction exploits, Beedel, based primarily in Ibadan is certainly keen on beautifying the Pacesetter State as the renovation of the Adeoyo-Ringroad, roundabout indicates.

Speaking on the revolutionary step, Odeleye explained that this is merely a move by Beedel to contribute its quota in a unique way. According to him, initiatives like this should be a clarion call to entrepreneurs to make better the environment, community, or state in which they operate. For Beedel, Adeoyo-Ringroad area is a prime location as it is where the company’s corporate headquarters is located.

He added that he hopes that this, a first among many, inspires others who do business in the Oyo and Nigeria as a whole to strive to make society a better place for all to operate in through concentrated and concerted CSR efforts.

Already, denizens and residents of the district have applauded the move by Beedel Constructions, commending the state-of-the-art beautification of the renovated roundabout.

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NEWS

EXPO 2020 DUBAI: Fifth Intel Capital Wins Bid To Manage 30 Unit Short-let Apartments

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The Fifth Intel Capital company has won the bid to manage a 30-unit short-let apartment at the Dubai Expo 2020.

According to McKelvin Jude Oseh, the managing partner at Fifth Intel Capital “, this is a testament of resilience, sacrifice, and hard work”.

The bid has been on for over 3years, while some of the properties were still under development but scheduled for completion in 2020, to accommodate exhibitors and tourists during and post-Dubai Expo 2020 now 2021, due to Covid-19 pandemic; it was projected to increase access to affordable accommodation and presents new rental options to housing needs within the region, a project led by most of the foremost Real Estate developers in the UAE.

While Fifth Intel Capital’s consideration came as a surprise, they had to prove their competence by going through with the process, knowing the controversial narratives displayed towards Nigerians; biding for an International portfolio and asset management was quite challenging.

Fifth Intel Capital emergence was influenced by their deployment of new technology to unify multiple property management, in-depth marketing and communications skill, multicultural orientation, and employment model, one of which is ‘absorbing 90% of local workforce’ an approach Jude said to be “sustainable in strengthening business relations between both countries, contributing to creating jobs will increase opportunities for everyone”, a strategy the UAE government is amplifying efforts and investing towards with over $6.5billion plan to get more Emiratis into the private sector; a critical intervention more than ever, as the UAE host the world’s greatest show with 25million expected visits over the course of six months and up to 200 Nations bringing innovations to address global challenges and ultimately create a better world with the finest examples of human abilities.

Choosing Dubai as a destination to lead 75% of Fifth Intel Capital’s Real Estate investment, has presented the company with huge opportunities that everyone can benefit from, either by acquiring residential and commercial properties, or investing in assets that guarantee returns, as the company now have access to all the options and will continue to lead interested investors to make the right decision in a new territory.

While Fifth Intel appreciates everyone, who has helped thus far and to their partners in whom they are grateful for their support, this is proof of more businesses and opportunities ahead to broadening the horizon for a new generation to thrive; the world is indeed a global village and technology has brought us closer to achieve more together.

 

 

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BIG STORY

Why We Can’t Yet Name And Shame Sponsors Of Terrorism —AGF Malami

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The Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, assured yesterday that no stone would be left unturned in the prosecution of Boko Haram financiers, saying it wasn’t yet time to name and shame their sponsors.

Malami, in a statement signed by his media aide Dr. Umar Gwandu, said investigation to unravel those behind activities of insurgents in the country had reached an advanced stage.

According to the statement, the AGF, who spoke during an interview with journalists in New York, in continuation of the ongoing 76th session of the United Nations General Assembly, stressed that time was not ripe for holistic disclosures, so as not to pre-empt the investigation process.

He said FG would take all steps to ensure a peaceful and prosperous Nigeria, adding that the public “would be properly and adequately informed about the investigation and prosecution process at the appropriate milestones as they unfold”.

“The position, as it stands, is that investigation has reached an advanced stage and the Government will make a statement in that direction in due course.

“Time is not ripe for holistic disclosures so as not to pre-empt the investigation process. The prime object remains the attainment of peace and security of our dear nation.

“As far as terrorism funding and financing is concerned, we have succeeded in identifying those that are allegedly responsible for funding same and we are blocking the leakages associated with funding while embarking on an aggressive investigation that is indeed impacting positively in terms of the fight against terrorism.

“The truth of the matter is that investigation is ongoing and advancing. For the purpose of investigation, I would not like to be pre-emptive in terms of making disclosures that will have the effect of undermining the successes we are recording.

“One thing I can tell you for sure is that whatever we do in terms of detention and arrest is indeed backed-up by judicial processes.

“We have acquired and obtained legitimate court orders taking into consideration the facts and material proof of evidence presented before the court on account of which the court eventually exercises its discretion in terms of granting orders that we can have the suspects in custody pending the conclusion of the investigation,” Malami stated.

He said the FG, through the Complex Case Group of the Department of Public Prosecution of the Federation in the Office of the Attorney General of the Federation and Minister of Justice, reviewed over 1000 Boko Haram Case files, out of which 285 have been filed before the Federal High Court based on prima facie cases of terrorism against them.

“The delay witnessed in the prosecution process was occasioned by COVID-19 lockdown, Judiciary Staff Union (JUSUN) Strike, and court vacation.

“Naming and shaming of suspects is not embarked upon as a policy by the Federal Government out of sheer respect the constitutional rights of Nigerians relating to presumption of innocence.

“It is a product of constitutionalism and the law. It is rooted in the law and the names of the suspects will accordingly be made public at the point of judicial arraignment while the shaming remains a consequence of judicial conviction. Trials are judicial processes and not about media sensations.

“Naming and shaming in the Nigerian context must be rooted in constitutionalism.

“We must strike a balance between the constitutional presumption of innocence and evidential proof of reasonable ground for suspicion in making disclosures associated with terrorism funding and financing.

“Where reasonable grounds are established, suspects must be naturally taken to court at which point their identity must be disclosed and the naming becomes apparent. ’’

“Shaming, on the other hand, is the product of conviction at which point the public are equally judicially put on noticed.

“In essence naming and shaming within the context of Nigerian law are judicial functions which commence with the arraignment and terminate with convictions.

“Naming and shaming is not an unguided and unregulated process. It is not like a discarded ship left at the mercy of winds and tides”, the statement further read.

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