News
Dangote Cement pledges higher returns, value to shareholders, stakeholders
Chairman of Dangote Cement Plc, Aliko Dangote has guaranteed shareholders and other stakeholders of the company’s management’s resolve to keep the company profitable by leveraging on strategic innovations for the continuous growth of their investments.
Speaking at the 14th Annual General Meeting (AGM), of the company in Lagos, Dangote said the prospects for the cement company remain bright as the management will continue to innovate on quality products delivery to millions of its customers across Africa while touching the lives of its host communities.
He stated: “We will continue to make sure that we keep our shareholders happy, not only the shareholders but all our other stakeholders… Our strategy remains steadfast, focused on organic growth in Nigeria and Pan-Africa while ensuring that Africa’s regional integration becomes a reality. We will continue to contribute to improving regional trade within Africa by building plants across West and Central Africa, guided by our vision of making the region cement and clinker self-sufficient. In addition, we aim to deliver higher returns and value to our shareholders.”
The Chairman pointed out that despite the challenging macroeconomic environment in 2022, the company still made great strides, performed admirably, and remains Africa’s largest and leading cement producer.
Dangote explained that in the face of the unexpected challenges in 2022, the company implemented robust cost reduction strategies to manage the inflationary environment, and thus enhanced its competitiveness while maintaining high levels of product quality and customer service delivery.
According to him: “In addition, we achieved giant strides in transitioning to cleaner energy, with our cost containment initiative propelling the use of Alternative Fuel (AF) to replace more expensive fossil fuels, such as coal and gas. We also increased the use of Compressed Natural Gas (CNG) for our trucks due to the rising diesel cost environment.
These efforts have helped us reduce our cost base and enhanced our flexibility, enabling the Company to respond more effectively to changes in the market. As a result, we recorded revenue and EBITDA growth of 17.0 per cent and 3.5 per cent from the prior year respectively, albeit under unprecedented inflationary pressure. We also achieved a profit after tax of ₦382.3 billion, up 4.9 per cent compared to 2021.”
Analysing the 2022 year-end result, Dangote explained that the company achieved its highest revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) in history at ₦1,618.3 billion and ₦708.2 billion, respectively. The exceptional EBITDA, according to him, was supported by its numerous cost containment measures, substituting higher-cost fuel for cheaper alternative fuel products.
The Company Chairman explained that: “Over the last twelve years, volumes have grown by a double-digit compound annual growth rate of 11.2 per cent. Similarly, EBITDA has grown at a compound annual growth rate of 16.3 per cent, over the same period, implying a five-fold increase and revealing a true growth story.
“Accordingly, we closed the year with a profit after tax of ₦382.3 billion and an Earning per Share (EPS) of ₦22.27. Despite these accomplishments, we are not resting on our laurels. We recognise that the business environment remains volatile, so we will continue to evolve with the changing times while embracing technological advancement,” he added.
Speaking on the Company’s Annual Reports, Mrs. Bisi Bakare, Chairman of the Pragmatic Shareholders Association, commended the management of Dangote Cement for its doggedness during the year under review for still being able to exceed the shareholders’ expectation in view of the inclement economic weather under which companies operated in the country.
She explained that the shareholders were happy for the returns, pointing out that it only means that the company was living up to its billing as the largest in Sub-Saharan Africa, adding that if not for the resilience of the management, the company would not be able to post such an impressive performance in 2022.
Mrs. Bakare alluded to the successful listing of the N300 billion series bond by the Company, saying the company succeeded largely due to the confidence reposed in the company and its management by the investing public. “It is not all companies that could record such a feat given the huge amount involved and the biting economic situation”, she stated.
“Nothing must happen to Peter Obi. An injury to one is an injury to all. When one opposition leader is intimidated, every opposition voice is diminished,” came the immediate reaction of Atiku Abubakar candidate of the African Democratic Congress (ADC), in the 2027 presidential election on Thursday.
It was a day Atiku, who came second in the 2023 election and Obi, third, in the declaration made by the Independent National Electoral Commission (INEC), also asked for the release of Nasir el-Rufai, former governor of Kaduna, warning that democracy is threatened when opposition figures are intimidated.
Obi, Governor of Anambra State between 2006 to 2014, had accused the federal government of deliberately frustrating his means of livelihood and targeting opposition figures, while appearing on #WithChude podcast, a programme hosted by Chude Jidonwo, a popular Nigerian social media host.
On the same Tuesday, Obi’s outing broke on social media, where he claimed that the way the Tinubu government was pursuing him, he was not sure of making it to the 2027 election alive, the family of the former Kaduna State Governor, also came publicly to describe stark details of what the family head, currently in detention since February this year, has been facing.
Conveying his distaste on the two situations through, Phrank Shaibu, his spokesman, Atiku, Nigeria’s Vice President between 1999 and 2007, added: “When one citizen begins to fear because of his political beliefs, democracy itself becomes the casualty.”
In a quick riposte to the scant regard, Aso Rock seemed to have placed on Obi’s fears, the former VP, said: “The Presidency must understand that democratic leadership demands composure, not contempt. When a citizen, particularly an opposition figure, voices concerns about the state of the nation or his personal safety, the first duty of government is to reassure through statesmanship, facts and responsible conduct—not through insults.
“Democracies are strengthened by reasoned engagement, not by invective. A government that answers every criticism with abuse projects insecurity, not confidence. The opposition is not the enemy of Nigeria.
“Poverty is the enemy. Hunger is the enemy. Insecurity is the enemy. Corruption is the enemy. Kidnapping is the enemy. The daily bloodletting across our communities is the enemy. A government that devotes more energy to attacking its critics than confronting these existential challenges has confused political survival with the purpose of governance. There are schoolchildren and teachers still waiting to be reunited with their families. There are countless innocent Nigerians languishing in the camps of kidnappers,” he said.
“These are the emergencies that deserve the full machinery of government—not endless political sparring with opposition figures. The Federal Government must devote the same urgency it applies to political communication to rescuing kidnapped Nigerians and restoring public confidence in national security.”
Regarding the plight of el-Rufai, Atiku stated: “The continued detention of Mallam Nasir El-Rufai has generated widespread public concern. Every Nigerian, irrespective of political affiliation, is entitled to due process, equal protection under the law and the presumption of innocence until proven guilty by a competent court. Justice must never create the appearance of selective application.
“Public confidence is not restored through insults or propaganda. It is restored through openness, accountability and the courage to answer legitimate questions,” he said.
“Governments earn trust by confronting controversy with facts, strengthening institutions and demonstrating that no one is above scrutiny. Our elders say: ‘When the drums of injustice beat for your neighbour, do not dance, for tomorrow they may beat for you. Every Nigerian, regardless of political affiliation, has a stake in defending the democratic space. Release Mallam Nasir El-Rufai.
“Bring home every abducted schoolchild, every teacher and every innocent Nigerian still languishing in the hands of kidnappers.
“Stop chasing political opponents and start confronting the crises that are bleeding our nation. History will not remember how fiercely a government fought its critics.
“It will remember whether it protected its citizens, upheld justice, rescued the vulnerable and preserved the democracy entrusted to its care.”
“They apologised to me privately. I said they should put it on social media. They said they will not put it on social media, it will affect their credibility, because it’s not just them, but their other programmers at the Al Jazeera network too.”
These were the words of Daniel Bwala, while giving further insight into what has transpired along the line since his controversial interview with Mehdi Hasan of Al Jazeera, a global television network in March 2026, stating that the station privately apologised to him.
Bwala, who appeared on The Morayo Show, a private talk-show programme, hosted by Morayo Afolabi-Brown, a popular television presenter, however said because both Mehdi and Al Jazeera, refused to make the apology public, he was prompted him to instruct his lawyers in England to sue for defamation.
Clips on the controversial outing in which Bwala, spokesman for the campaign of Atiku Abubakar during his presidential bid in 2023, were in the public domain for several weeks after where a groundswell of commentators believed his performance was not only underwhelming, but he was outrightly disgraced.
He added: “The substance of the apology was that they should have told me that part of what they discussed with me was a talking point, that they were also going to interrogate me on my credibility for supporting the person I had attacked before.
“By their own ethics, they ought to have told me that, but they said they were sorry they didn’t. If you’re bold, if you call yourself a journalist, a fact-checker, you run your programme live and let people judge live.
“If you’re thinking straight, that’s what you’d do. You took creative control of the programme. You made a recorded programme. Ethics demanded you publish it exactly as it was recorded.”
Informing that the programme ran for one hour and 30 minutes but Al Jazeera published only 49 minutes, he accused the network of skewing the footage in Hasan’s favour, adding: “The deeper point is that they cut out the parts where I was fact-checking him and the crowd was clapping for me, and instead kept the parts where he was speaking and people were clapping for him. He’d ask me a question, I’d deny it, then he’d play the old clip. We call that ‘cut and joined’ in media. After doing that, which amounts to a smear campaign, he didn’t give me the chance to react to it.
“Instead, he let it appear that I was simply asked a question, denied it, was shown the clip, denied it again, was shown another clip, and denied it again. He removed that part, because if he’d left it in, anyone watching would understand that I had already answered the question upfront, and that my later denials were a response to his repeated bringing it up. That’s where the unethical conduct of a professional issue arose.
“When they apologised, I said no, put it on social media. They refused. So, I instructed my lawyers in England to go to court. The case is currently in court. Because my advisers in England said it’s defamation of character.”
More successes are being recorded by Nigerian forces trying to rout out terrorist in parts of the country, with emerging reports indicating that the perpetrators are currently running scared from the hot onslaughts they are getting from the operatives.
Channels Television, is quoting military authorities at the Operation Hadin kai (OPHK) conducting military blitzkrieg against the terrorists in the North East as saying that the troops received six Islamic State of West African Province (ISWAP), one of the major terrorist groups operating in the area, who surrendered alongside their families, at the 192 Battalion (Main) Sector 1 of the body.
Quoting a statement on Wednesday by Mohammed Goni, spokesman of the military operation, with headquarters in Maiduguri, Borno State, the report, said that among the items recovered from the terrorists and their families included a cumulative sum of more than N1.5 million, two Tecno mobile phones, and other items.
Th statement, added that troops of 115 Task Force Battalion, while conducting ongoing search and rescue operations in Askira/Uba Local Government Area of Borno State, on July 7, rescued two additional abductees from a terrorist hideout, where they also recovered cash of N1.2 million suspected to be proceeds of criminal activities, food items, and other logistics believed to have supported terrorist operations.
The rescued victims have since been evacuated to a secure location where they are receiving appropriate medical care and psychosocial support, the report said, adding that during the same period, the troops noted that it contained a coordinated attack by ISWAP terrorists in Borno, and one of the soldiers was killed.
“Although the insurgents briefly exploited a section of the base’s defensive perimeter during the intense firefight, the troops rapidly regrouped, mounted a determined counter-offensive and decisively expelled the attackers, inflicting significant casualties and forcing the surviving terrorists to flee with varying degrees of gunshot wounds.
“Regrettably, one gallant soldier paid the supreme price, while two gun-trucks and some combat enablers sustained damage during the engagement. The situation at FOB Logomani remains firmly under the control of Operation HADIN KAI troops, with reinforcements deployed, exploitation operations ongoing and additional measures being implemented to further strengthen the defensive resilience of the location.”
Detailing how troops of 232 Battalion apprehended a notorious criminal in Gombi Local Government Area of Adamawa State, the statement, said: “Follow-up exploitation of the arrest led to the recovery of one AK-47 rifle, two magazines, and twenty-eight rounds of 7.62mm special ammunition.
“The suspect and recovered items are currently in military custody, while further investigations are underway to identify and apprehend other members of the criminal network.”
Similarly, the statement said troops of the 149 Battalion arrested two suspected terrorist logistics suppliers in the Mobbar Local Government Area of Borno State.
The recovered items include cash sums, a Volkswagen Golf vehicle, construction materials, household items, and other supplies suspected to have been destined for terrorist elements.
The suspects are currently undergoing interrogation, while the recovered items remain in military custody as investigations continue.
As part of ongoing offensive operations, troops of 24 Task Force Brigade, in conjunction with members of the Civilian Joint Task Force, conducted a clearance operation on known terrorist enclaves around Wulgo.
During the operation, the troops said they exploited the terrorists’ hasty withdrawal and recovered a sack containing assorted illicit drugs abandoned by the fleeing insurgents.
“The recovery further underscores the sustained pressure being mounted on terrorist elements, denying them freedom of movement and disrupting their operational capabilities.”
Relatedly, the troops apprehended a suspected BHT/ISWAP logistics supplier at the Molai checkpoint in possession of large quantities of medical supplies without due clearance. The suspect and items recovered are in custody for further interrogation.
Again, in Sector 2 Area of Responsibility, Troops of 233 Tank Battalion, in conjunction with local hunters, intercepted and arrested a suspected BHT/ISWAP terrorist logistics supplier from Ngirya village of Tarmuwa LGA with five motorcycle tires. The suspect and items are in military custody for investigation.
“These latest operational gains underscore the effectiveness of sustained offensive operations, actionable intelligence and the seamless collaboration among security agencies and auxiliary forces in dismantling terrorist logistics networks, disrupting criminal activities and protecting vulnerable communities across the North East”, the statement added.
Headquarters Operation HADIN KAI assured the public that ongoing search and rescue operations will continue with unwavering resolve until every abducted person is accounted for and safely reunited with their families.
“The Theatre Command also issues a stern warning to individuals involved in supplying food, fuel, construction materials, transportation or any other form of logistics to terrorist groups to immediately desist. Anyone found aiding, abetting or collaborating with terrorist elements, directly or indirectly, will be identified, apprehended and prosecuted in accordance with the law.”
-
News3 weeks agoBREAKING: Troops rescue wife of kidnapped General! *Terrorists flee scene
-
News3 weeks agoBREAKING: Count me out, Okonkwo tells Atiku *Amaechi VP’s choice an insult to Ndigbo
-
News2 weeks agoBREAKING: Court sentences Nigerien, two others to death over terrorism
-
News4 weeks agoDickson: Obi, a big asset to NDC, we’re working together … but!
-
News4 weeks agoOvia, ex-Zenith Bank boss swings into luxury apartments *Flats hit $2.8million price tag
-
News6 days agoBREAKING: EX-SSG mowed down by gunmen! *He resisted being kidnapped – driver
-
News2 weeks agoAbductors of Oyo teachers panicking, freedom coming for victims soon!
-
News3 weeks agoTwo hours after Igboho’s ‘red-eyes’ to ‘Fulani’ leaders, gunmen free kidnap victims!