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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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BIG STORY

Court Remands Late MKO’s Wife, Maid For Assaulting Female Police Officer

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A Magistrate Court sitting in Wuse, Federal Capital Territory (FCT) Abuja has remanded the wife of the acclaimed winner of the 1993 presidential election, late M.K.O Abiola, Prof. Zainab Duke-Abiola, and her domestic staff, Rebecca Enechido, for allegedly assaulting a female officer, Inspector Teju Moses, attached to her.

The court ruled that the widow of the late philanthropist would remain in Suleja prison till next month when the case would be coming up for hearing.

They were arraigned before the court on Friday by the Abuja police command to serve as a deterrent to other Nigerians that want to assault law enforcement officers across the country.

Duke-Abiola and her maid were arraigned by the police over offense bordering on criminal conspiracy, hurt without provocation, attempt to commit culpable homicide, and an intentional insult to cause a breach of trust.

During the hearing, the court turned down the bail request presented before it by the legal practitioner and ruled that she and the maid be remanded.

Report has it that the third suspect, a male, was on the run to prevent arrest after the incident in Federal Capital Territory (FCT) Abuja.

Duke-Abiola, a Legal practitioner and human rights activist, and her staff arrest were approved by the Inspector-General of Police (IGP), Alkali Baba, after preliminary investigations showed that the female police officer, who was attached to the Don, was assaulted for refusing to go against the ethics of her profession.

Baba, who condemned the assault through a statement released by the Force Public Relations Officer, Olumuyiwa Adejobi, on Thursday, described the treatment from the Don and her maid to the female inspector as grievous.

Also, the Police boss withdrawal of all Police personnel attached to the female activists after the attack in Abuja.

According to the statement, Zainab Duke, an Mbaise-born activist, grievously assaulted her orderly in the company of some accomplices on Tuesday 20th September 2022 at her residence in Garki, Abuja, due to the refusal of the orderly to breach professional ethics by carrying out menial and domestic chores at her house.

“It is pertinent to clarify that the suspect, Prof. Zainab, who name-drops the IGP, his family members, and other officers in the top hierarchy of the Force has no acquaintance with the Police in any form as erroneously peddled on social media.

“The Inspector-General of Police, who similarly ordered the withdrawal of all Police personnel attached to the Professor, expressed consternation at the fact that an individual who claims to be an advocate for Human Rights could stoop so low as to violate the rights of another individual, a police officer tasked with ensuring her protection”.

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BIG STORY

Inside Ogun: Gunmen ‘Kidnap Three’ Police Officers In Wasinmi

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At least three policemen who left Lagos for Ogun State for a discreet investigation are feared abducted hours after arriving in the state.

The team led by Inspector Oladipo Olayemi was said to have been abducted by some gunmen in Ogun State, who accosted them around 2:30 pm.

But a commercial driver conveying them to the target location escaped the attack.

Sources said the police officers were kidnapped on Thursday at Wasinmi, in Ewekoro Local Government Area of Ogun State.

Reports said the cops arrived in Ogun State from Zone 2, Onikan, Lagos State, and formally booked at the Police Division in Wasinmi before leaving for the place of primary assignment but never made it to the location.

It was gathered that the commercial driver, who conveyed the cops escaped by the whisker from the kidnappers.

The Divisional Police Officer in Ewekoro has led his men on a search and rescue mission for the missing policemen.

The Ogun State police spokesman, Abimbola Oyeyemi, confirmed the incident but clarified that only one policeman was abducted.

He added that the police is on the trail of the kidnappers, assuring that the victims would be rescued.

“People were kidnapped, but only one policeman is involved,” he said.

“We are on the trail of the kidnappers. Do you think we are going to keep quiet? We will get them and rescue the victims unhurt,” Oyeyemi said.

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BIG STORY

REVEALED: How FG Engaged US Firm To Recover Illicit Funds ‘Linked’ To Atiku, Fayose, Obanikoro In 2021

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The federal government, in 2021, engaged the services of a US firm to recover illicit funds allegedly traced to the account of Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP).

According to TheCable, The firm was also contracted to retrieve such funds from the accounts of Ayodele Fayose, former Ekiti governor, and Musiliu Obanikoro, a former senator.

In a memo marked HAGF/AABIOLA/USA/2021/VOL.1/1 — and dated May 31, 2021 — Abubakar Malami, attorney-general of the federation (AGF), engaged Akib Abiola as the lead recovery agent to recover the funds on behalf of the federal government.

In the letter of engagement, Malami said the stolen assets are currently under forfeiture proceedings.

“Following the proposal submitted by Mr. Akib Abiola. (hereinafter “Lead Recovery Agent”) vide letter dated 9 March and 6 May 2021 respectively, please be informed that the federal government of Nigeria has engaged you to recover the funds traced to the accounts located in the United States of America and belonging to the individuals listed in paragraph 2 of this engagement letter (hereinafter illicit funds),” the letter reads.

“The scope of the engagement is for the recovery of the illicit funds traced to Mr. Atiku Abubakar, Mr. Ayo Fayose, And Mr. Musiliu Obanikoro in the United States of America.”

Abiola was given the responsibility of “instituting an action severally or jointly against Atiku Abubakar, his family and associates towards recovering the stolen assets due to the FGN from the proceeds of crime currently under a forfeiture proceeding at the United States”.

Other responsibilities include “identifying and providing information to the undersigned (Malami) about any assets subject or likely to be subject to forfeiture proceedings in the United States of America, limited to Mr. Ayo Fayose (former governor of Ekiti States) and Mr. Musiliu Obanikoro (former minister of state for defence and former High commissioner to Ghana)”.

The lead recovery agent was also mandated to negotiate settlements, sign letters, and agreements, and work in collaboration with the AGF for the purpose of recovering the funds.

The AGF noted that “where lead recovery agent and its partner solicitors identifies any other assets (financial or otherwise) which may be pursued as a recovery prospect, it shall bring such information to the attention of the undersigned (Malami) for express approval before proceeding with any legal processes towards the recovery and repatriation of such asset”.

According to the AGF, the lead recovery agent is entitled to a “success fee” amounting to five percent of “actual recoveries made and remitted to the designated accounts” of the federal government.

“This fee shall be paid in respect of cash recovery within sixty (60) days of the collective receipt of same by the federal government of Nigeria,” the letter reads.

“The aforesaid success fee shall be deemed to cover all the expenses incurred by the lead recovery agent and any agents or associates contracted by your firm in the course of its engagement. For the avoidance of doubt, the federal government of Nigeria will not enter separate terms of engagement with such agents, associates, attorneys or sub-contractors.”

Credit: The Cable

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