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Dangote Sugar pays N18.22bn dividends, to produce 170,000 tonnes next season
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.
“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.”
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