Business
Customers enthuse, as Dangote doles out hundreds of cars, cash in consumer promo
Past winners of the Dangote Cement consumer promo have commended the company’s Management for the positive economic and social impact of the promo on their livelihoods and wellbeing.
Some of the winners, who spoke on the impact of the cars and millions of Naira won during the previous seasons, described the promo as a big relief and a crucial palliative that lessened the negative impact of the COVID-19 pandemic which had then shut down the whole world.
More than 450 consumers had emerged either as instant millionaires or owners of brand new car prices, while others won hundreds of tricycles among other attractive prizes during Season 1 and Season 2 of the consumer promo.
The star winners across Nigeria who were presented with brand new saloon cars or N1million as prizes commended the cement manufacturing giant and its Chairman, Aliko Dangote for transforming their lives for the better.
Some of the excited winners, who were contacted by telephone, recalled how they initially thought it was a dream until they were later presented with their various prizes in the full glare of the public.
They said their winnings had enriched their lives and livelihoods and hailed the sincerity of Dangote Cement in handing over the cars to them.
A winner, Mr. Clement James of Marble Construction, Kaduna State who won a brand new car during the last Dangote Cement promo said the prize has enhanced the profitability of his business.
Stating that the car had assisted his company in marketing Dangote Cement products within and outside Kaduna, he said: “We have been using the car to meet clients’ and customers’ needs in and around the state. This has further increased our customer base and boosted our profitability.”
James pointed out that the car gift showcased Dangote’s interest in human empowerment, adding: “The truth is that the car gift has made people understand that Dangote is not only interested in making profits, but also highly interested in impacting the lives of both customers and consumers of its products.
“Before now, we only hear of how much Dangote contributes to empowerment and we had not experienced it personally. With the Dangote Cement promo, we were able to feel the impact directly. It now boosts the confidence of consumers on the company’s products,” he added.
Another past winner, Emmanuel Boye, Managing Director of Awuley Investment Limited, Abuja said the branded car prize his company won had become a source of advertisement for Dangote Cement and its products as people were now becoming more aware of these quality products.
“The prize has increased customers’ behavior in a positive way. The truth is that many people in our locality now have more confidence in us that we are selling high-quality cement products. The branded car has made customers to believe that we are not selling counterfeit re-bagged products because they have seen something to confirm that we are getting the product directly from the company’s factory. So, our sales volume has greatly improved in the past two years.”
Apart from the car prizes, some other consumers especially those who won star prizes of N1million each during the promo said they used the cash to expand their businesses.
Mr. Nsikan Emmanuel from Calabar, Cross River State who was one of the one million Naira prize winners said: “The Dangote Cement sales promotion was a nice technique that attracted consumers to purchase more of Dangote Cement, and they have thus continued to patronise the product. Dangote is the top cement company in Nigeria that produces quality cement at an affordable price.”
Another winner, Yahaya Isah Abdullahi from Kano State, said he used his cash prize to expand his business, adding that he now not only purchased more bags of cement for sale rather than depend on credit grants from distributors, but now had more capital to run his business, all thanks to Dangote Cement and its promo.
Edet Udeme of Delta State who also won N1million, said he used part of the money to expand his business and another part to purchase a motorcycle for customer contact and product distribution, adding that the motorcycle has enhanced his mobility and enabled him to reach out to more consumers of Dangote Cement products.
“I want to thank Dangote Cement for impacting the lives of consumers through the cement promo. It will be good to see more of such promos in the future,” he said.
Speaking on the promos, Group Chief, Branding and Communications Officer, Dangote Industries Ltd, Mr. Anthony Chiejina explained that the company’s decision to launch the promos for the consumer aligned with its vision and mission to enhance the lives of the people by helping to provide their basic needs.
“This strategy is in tandem with the quality of our exceptional products, in line with our brand promise. The timing of the promo, two years ago, was very strategic, as the world was feeling the pains of the COVID-19 pandemic and the management thought it was good to come to the aid of its loyal customers by rewarding them via the promo.
“When Dangote Cement came out with Bag of Goodies Season 2 themed Spell Dangote and Win a Million Naira promo in 2020, it had one thing in mind, which is to give back to the consumers of the product and impact as many lives as possible.
“Two years after the promo, the company can confidently attest to the fact that it has been able to contribute positively to the lives, wellbeing, and businesses of its consumers. The mega promo, which produced hundreds of winners across the country, assisted in mitigating the effect of the COVID-19 pandemic on consumers and dealers of Dangote Cement,” Chiejina added.
Posted by Editor | 5 July 2022,
Mr. Taiwo Oyedele, chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has forecast that Nigerian states may collect over N4 trillion yearly beginning in 2026 following the implementation of revised Value Added Tax regulations.
During Tuesday’s presentation of the BudgIT State of States 2025 Report in Abuja, where he delivered the primary address, Oyedele shared this projection.
The occasion also commemorated the program’s tenth anniversary.
“With VAT reforms kicking in from 2026, states’ share will rise to 55 per cent. That could amount to over N4 tn in 2026. The question is: will this money be spent, or will it be invested?” he said.
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The fiscal reform specialist observed that despite recent policy changes more than doubling Federation Account Allocation Committee distributions—from N5.4 trillion in 2023 to N11.4 trillion in 2024—most citizens have experienced minimal tangible benefits.
He noted that while government revenues have increased substantially, household purchasing power continues declining.
“States are receiving more money than ever before. But there is a paradox: while governments have more naira, ordinary Nigerians have less disposable income in their pockets,” he said, encouraging state administrators to direct additional funds toward initiatives that meaningfully enhance quality of life.
The BudgIT analysis revealed that twenty-one states continue depending on federal transfers for more than 70 percent of their income, which Oyedele characterized as concerning.
Nevertheless, he referenced positive developments, citing Enugu’s 381 percent increase in internally generated revenue alongside Bayelsa’s 174 percent improvement.
According to him, upcoming tax legislation—which assigns complete electronic money transfer levy proceeds to states and removes taxation from state government bonds—will help lower borrowing expenses and generate financial flexibility.
“This is a unique opportunity for states to build resilience, close existing tax gaps, and invest in infrastructure,” he stressed.
His remarks also addressed the disconnect between expenditure levels and actual results. Oyedele recognized that capital spending had exceeded recurrent costs for the first time in years.
However, he cautioned that execution in essential sectors remained inadequate.
“States implemented only two-thirds of their education budgets, spending less than N7,000 per citizen. In health, implementation was even lower, at just N3,500 per citizen,” he observed.
Regarding indebtedness, he mentioned a N2 trillion decrease in domestic liabilities and a $200 million reduction in external borrowing, with thirty-one states reducing their domestic debt levels.
Despite this, states maintain outstanding arrears exceeding N1.2 trillion owed to retirees, suppliers, and employees.
“Borrowing is not the problem; unproductive application of debt is,” he cautioned.
The 2025 performance rankings placed Anambra first, succeeded by Lagos, Kwara, Abia, and Edo. Cross River experienced a sharp decline from fifth position in 2024 to twenty-ninth in 2025, prompting questions about administrative decisions.
Oyedele encouraged state leadership to capitalize on forthcoming reforms to progress beyond mere survival toward achieving widespread economic well-being.
Additionally, Dr. Muhammad Abdullahi, the Central Bank of Nigeria’s Deputy Governor overseeing Economic Policy, urged states to establish fiscal responsibility and openness as revenue increases under current reforms.
He characterized the BudgIT assessment as an annual benchmark that has “distilled hard fiscal truths, benchmarked performance, and re-centred conversations on capital investment, social outcomes, and fiscal credibility.”
He acknowledged that while 2024 and 2025 reforms expanded revenues and elevated capital expenditure above recurring costs, states must avoid reverting to overhead-dominated budgets.
“The challenge is to lock in this fiscal discipline permanently,” he said.
The CBN official recommended that states digitize revenue collection systems, complete Treasury Single Account implementation, and enhance capital planning processes.
He further advocated for improved execution rates in education and health allocations, demanding implementation exceed 80 percent.
Abdullahi cautioned that subnational entities face significant foreign currency vulnerability. He revealed that the CBN is creating financial instruments to assist them with hedging exposure and revenue optimization.
Examining the wider economic landscape, Abdullahi explained that Nigeria inherited substantial imbalances, including multiple exchange rates, excessive deficit financing through Ways and Means, and depleting reserves.
The central bank’s strategy involved returning to conventional monetary policy, normalizing currency markets, and rebuilding confidence.
He concluded that states prioritizing discipline and capital investment over simply depending on increased revenues would accomplish lasting transformation.
Representing the Nigerian Governors’ Forum Director-General, Dr. Abdulateef Shittu, Razaq Fatai—Head of Economic Intelligence—described the State of States report as instrumental in guiding administration and advancing fiscal responsibility nationwide.
He clarified that the NGF has functioned as a technical collaborator in developing the report throughout the past decade, ensuring governors utilize findings for enhanced policy decisions.
“The essence of State of States is to help guide governance and ensure that governors at different levels take the information provided and make sure it reaches their people,” he said.
Fatai mentioned that programs like the State Fiscal Transparency, Accountability and Sustainability initiative have reinforced budget reliability and debt openness, while the ongoing State Action on Business Enabling Reforms program encourages states to enhance business conditions.
He stated that the NGF will maintain its role facilitating collaborative learning and cooperation to establish transparency and accountability at subnational levels.
BudgIT Co-founder and Global Director Oluseun Onigbinde earlier remarked that the State of States report functions as a reflection of subnational government decisions.
Onigbinde observed that what started as an effort to track public spending has developed into an accountability instrument embraced by both administrators and citizens.
“This report began with a simple belief, that every kobo meant for citizens should be traceable, justified, and used to improve lives,” he said.
He noted that transparency has become advantageous among states, with more governors publishing budgets and citizens utilizing data for accountability demands.
Nevertheless, Onigbinde cautioned that Nigeria faces critical challenges, with increasing inflation, mounting debt, and excessive dependence on federal allocations preventing many states from developing sustainable local economies.
He encouraged states to prioritize education, healthcare, and infrastructure while using transparency to build public confidence and attract investment.
Plans have been unveiled to significantly increase the capacity of the Dangote Refinery, more than doubling its current output from 650,000 to 1.4 million barrels daily.
Aliko Dangote, who heads the Dangote Group, shared these development plans during a media engagement held in Lagos on Sunday, with First Bank’s Chairman, Femi Otedola, present at the event.
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The expansion is intended to position the facility as the world’s largest refinery, exceeding the capacity of India’s Jamnagar facility.
Construction activities for this ambitious project are set to commence immediately, according to the announcement.
The project will require approximately 65,000 construction workers, with Nigerian citizens comprising 85 percent of this workforce.
Additional improvements include increasing the facility’s electricity generation capability from 500 megawatts to 1,000 megawatts.
The refinery will also upgrade its fuel production standards to Euro 6 specifications, representing an improvement from the current Euro 5 level.
Plans are underway to offer the refinery’s shares publicly through the stock exchange in 2026, enabling Nigerian citizens to acquire ownership stakes.
Dangote expressed gratitude to President Bola Tinubu for governmental backing of the initiative.
The complete expansion timeline is projected at three years.
Finance Minister Wale Edun presided over the swearing-in of George Elombi as African Export-Import Bank’s new leader on Saturday.
The investiture occurred at the Afreximbank Legacy Conference held in Egypt’s capital.
Edun called upon the incoming President to pursue a transformative agenda for continental integration and economic advancement, noting the significance of this leadership transition for both the bank and Africa.
READ ALSO: Edun: 80% of 2024 capital budget already implemented
“Elombi, you are no stranger to this institution. You now assume leadership at a defining moment, a time when Africa’s destiny is being rewritten through resilience and innovation,” Edun said.
“Your appointment represents continuity, renewal, and a seamless transition from the solid foundation laid by your predecessor sitting right next to you. It is a bold leap toward the future we all envisage.”
Speaking on behalf of President Bola Ahmed Tinubu and Nigeria’s citizens, Edun emphasized the importance of maintaining the institution’s core mission of fostering African economic independence.
“Mr. President, your ascension is a testament to the founding philosophy that inspired this great institution. You are called not just to lead a bank, but to steward a vision, a vision of a self-reliant, integrated, and prosperous Africa,” he declared.
Edun noted his previous role four months prior at the bank’s 32nd Annual Meetings, where he presided over the unanimous election of Elombi as the institution’s fourth president and board chairman.
He remarked that: “This appointment is not merely a change in leadership; it is the dawn of a new era, a moment that reaffirms Afreximbank’s central role in shaping Africa’s financial sovereignty, its trade future, and, indeed, as Aliko Dangote rightly said, its manufacturing future.”
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