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Dangote Sugar Pays N18.22bn Dividends, To Produce 170,000 Tonnes Next Season [PHOTOS]

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Despite the economic headwinds that characterised 2022, Dangote Sugar Refinery Plc (DSR) will pay N18.22 billion as dividends to shareholders for the year ended December 31, 2022, while also targeting the production of over 170,000 tonnes of sugar next season. The dividend payout will translate to N1.50 kobo per share held by shareholders.

Chairman of the Company, Aliko Dangote said: “The shareholders are very happy with the way we have been running their company and also in re-investing the profit into the Backward Integration Programme (BIP) for the sugar industry. We are going to play our part in ensuring that Nigeria becomes self-sufficient in sugar within a very short period. We are not the only players, but we will surely play our part. We should be able to produce over 170,000 tonnes which are by far, in the history of Nigeria, the highest to be produced locally.”

The company recorded an impressive turnover of N403 billion, a 46 per cent increase over N276 billion recorded during the same period in the year before, and posted a Profit before Tax (PBT) of N82 billion.

Dangote attributed the company’s remarkable performance to the pragmatic approach the management deployed by focusing on continued cost and process optimisation, improved efficiencies in every area of operations, and service delivery to our customers.

He pledged that the management would continue to implement strategic actions to sustain the performance with the support of all stakeholders with complete adherence to the tenets of the Federal Government’s Sugar Master Plan.

Dangote said part of the success recorded by Dangote Sugar was made possible by the management’s continued implementation of the Dangote Sugar Development Master Plan with the rehabilitation and upgrade of the Dangote Sugar Refinery’s Numan operations, facilities and land development, as well as the development of the Nasarawa Sugar Company Limited, the greenfield sugar project, and Tunga in Nasarawa State.

He said: “Concerted efforts were made during the year to rise above the various challenges that came about due to the COVID–19 lockdown which affected project timelines considerably and continued to generally impact economic activities due to its spill-over effect, which also led to the lack of forex to finance most of the project deliverables.

“We however continued to surge ahead supported by the various stakeholders in the industry and government parastatals, with the resolve to ensure that the goals of the Nigeria Sugar Development Master Plan are achieved.”

The Company Chairman noted that during the year under review, the first phase of the Sugar Master Plan implementation period came to an end and that the Federal Government approved the second phase over the next 10 years. “This extension came on the back of the review of the first phase by the National Sugar Development Council and other government parastatals with cognisance of the challenges and several circumstances that were unforeseen which riddled the first phase of the programme,” he added.

Dangote stated that the board and management were, however, focused on the achievement of the goals of the strategic initiative, and thus considerable progress was recorded in the project development, despite the numerous challenges faced.

Not minding the obstacles ahead, Dangote promised that the management would continue to create sustainable value for all stakeholders through an inclusive approach to growth and development, with continuous engagement with all parties, to enable the company make a positive impact, support poverty eradication and food security, infrastructure development, empowerment for members of the immediate communities, and the society at large.

In her remarks, the Coordinator of the Pragmatic Shareholders Association, Mrs. Adebisi Bakare expressed the satisfaction of shareholders with the performance of the company, noting that despite all the encumbrances in the sugar sub-sector of the economy, the company still performed far and above the previous year.

She urged the board and the management to continue in the direction they have taken to get the company to the current winning, assuring that the management has the support of the shareholders to post even better performance in the coming years.

BIG STORY

Tokunbo Wahab at 54: A Quiet Force in Public Service —– By Ayobami Ladipo

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As Tokunbo Wahab turns 54 today, the occasion feels more than another birthday on the calendar. It is a moment to recognize a public servant who has come to symbolize steadiness, discipline, and a certain uncommon seriousness about service.

Known publicly as the Lagos State Commissioner for the Environment and Water Resources, Tokunbo Wahab has spent recent years carrying out his responsibilities with a mix of firmness and restraint that is becoming increasingly rare in public life.

What stands out most about him is not noise, but consistency. In a world that often rewards the loudest voice in the room, Tokunbo Wahab has built a reputation around substance. He appears to understand something simple yet powerful: leadership is not only about holding public office but also about leaving people better than you found them. That is the kind of leadership people remember. It is the kind that builds confidence, sharpens others, and creates room for growth.

Those who admire him often speak of his human side just as much as his professional side. They describe a man who values people, takes mentorship seriously, and does not seem interested in protecting his own status at the expense of others’ rise. In many spaces, especially public service, it is easy for influence to become self-preservation. Wahab, at least by reputation, seems to lean in the opposite direction. He is the sort of leader who wants his protégés to succeed, not merely survive.

There is also something admirable in the way he carries responsibility without overplaying it. A good administrator does not always need applause to prove impact. Sometimes, impact is seen in the structure of the work, the clarity of the process, and the people who quietly grow under that leadership. That is where Tokunbo Wahab’s value seems to sit: in the patient work of building systems and building people at the same time.

At 54, he stands at a point where experience and maturity should naturally deepen purpose, and by every indication, that is exactly what has happened. He has become one of those figures whose presence suggests order. Not the kind of order that stifles, but the kind that gives direction. Not control for its own sake, but discipline with intent. In that sense, his birthday is not just a personal milestone; it is also a reminder of the kind of leadership people still respect when they see it up close.

So, on this special day, the tribute is simple. Tokunbo Wahab deserves to be celebrated not only for what he does, but for how he does it. For the grace in his administration. For the dignity in his conduct. For the way he appears to invest in people, not just positions. And for proving, in his own quiet way, that a good man in public office is still one of the most valuable things a society can have.

Sir …. I celebrate you today and always, my mentor, my leader, and benefactor.

Ayobami Adegboyega Ladipo
(Mr Porsche)

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BIG STORY

Tinubu Confirms Killing of ISIS Leader In Nigeria-US Joint Operation

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President Bola Tinubu has announced the killing of a senior Islamic State leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, during a joint operation carried out by Nigerian and United States forces in the Lake Chad Basin.

In a statement personally signed on Saturday, Tinubu said the operation marked “a significant example of effective collaboration in the fight against terrorism” between both countries.

The President said Nigerian troops, working with the US Armed Forces, carried out “a daring joint operation that dealt a heavy blow to the ranks of the Islamic State.”

He added that “early assessments confirm the elimination of the wanted IS senior leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, along with several of his lieutenants, during a strike on his compound in the Lake Chad Basin.”

Tinubu described the operation as a major step in advancing the security objectives of both countries and commended the forces involved for their conduct.

“Nigeria appreciates this partnership with the United States in advancing our shared security objectives. I extend my sincere gratitude to President Trump for his leadership and unwavering support in this effort,” the statement read.

The President also praised military personnel from both countries, saying, “I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation.”

The development comes amid renewed military offensives against insurgent groups operating in the North-East and the Lake Chad region, where Islamic State-linked factions have sustained attacks on military formations and civilian communities.

United States President Donald Trump had earlier confirmed the operation, describing Al-Minuki as “the most active terrorist in the world.”

“Tonight, at my direction, brave American forces and the Armed Forces of Nigeria flawlessly executed a meticulously planned and very complex mission to eliminate the most active terrorist in the world from the battlefield,” Trump wrote on Truth Social on Friday.

Trump said the slain militant leader, whom he described as the “second in command of ISIS globally,” had believed he could evade capture in Africa.

“Abu-Bilal al-Minuki, second in command of ISIS globally, thought he could hide in Africa, but little did he know we had sources who kept us informed on what he was doing,” he said.

The US leader added that Al-Minuki, who was placed under American sanctions in 2023 over his ties to the Islamic State group, would “no longer terrorize the people of Africa, or help plan operations to target Americans.”

He further stated that “with his removal, ISIS’s global operation is greatly diminished,” while thanking the Nigerian government for its “partnership” in the operation.

The joint operation underscores growing security cooperation between Nigeria and the United States as both countries intensify efforts to weaken extremist networks operating across the Lake Chad Basin and the wider West African region.

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BIG STORY

ISIS Second-in-Command Killed By US, Nigerian Troops —– Trump

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US President Donald Trump says Abu-Bilal al-Minuki, the second-in-command of ISIS, has been killed in Nigeria.

Trump said al-Minuki was killed in a “complex mission” carried out by Nigerian and American troops.

The US president shared updates on the operation in a social media post in the wee hours of Saturday.

“Tonight, at my direction, brave American forces and the Armed Forces of Nigeria flawlessly executed a meticulously planned and very complex mission to eliminate the most active terrorist in the world from the battlefield,” Trump wrote.

“Abu-Bilal al-Minuki, second in command of ISIS globally, thought he could hide in Africa, but little did he know we had sources who kept us informed on what he was doing.

“He will no longer terrorise the people of Africa, or help plan operations to target Americans.

“With his removal, ISIS’s global operation is greatly diminished.”

Trump also acknowledged and thanked the Nigerian government for its “partnership on this operation”.

US-NIGERIA MILITARY COOPERATION

Nigeria had entered into a military partnership with the United States following Trump’s re-designation of the West African nation as a country of particular concern (CPC).

It was reported in February that a drone refuelling station was among the demands made by the US as part of the security partnership.

In March, the US deployed multiple MQ-9 drones alongside 200 troops to Nigeria to provide training and intelligence support to the country’s military in its fight against Islamist militants.

The Defence Headquarters had said the Nigerian troops, alongside the US forces, would commence a series of joint training engagements and intelligence-focused cooperation initiatives.

SECOND HIGH-PROFILE US OPERATION IN NIGERIA

Late last year, the US began conducting intelligence-gathering flights over swathes of Nigerian territory.

On Christmas Day, the US launched missile strikes on two terrorist enclaves in the Bauni forest in Tangaza LGA, Sokoto state.

It was widely reported that the strike involved more than a dozen Tomahawk cruise missiles fired from a Navy ship in the Gulf of Guinea.

But officials familiar with the operation told TheCable that the strikes involved drones.

Communities in Sokoto and Kwara states had reported explosions at the same time the US launched a fusillade of air strikes on ISIS terrorists.

The federal government later confirmed that the explosions in Kwara were caused by debris from the precision-guided munitions (PGMs) fired by the US.

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