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Dangote hypes on local production to save economy *Targets 7,000 tonnes Sugar production
Dangote Sugar Refinery Plc (DSR) has unveiled plans to produce 700,000 metric tonnes of refined sugar from locally grown sugarcane in the next four years, through its Backward Integration Programme (BIP).
Chairman of Dangote Sugar Refinery Plc, Aliko Dangote stated this at the company’s 18th Annual General Meeting (AGM) held on Monday in Lagos, just as the Nigerian Exchange released the company’s first-quarter result for 2024, indicating an increase of 20.1 per cent in its revenue to N122.7 billion.
Dangote, at the AGM, said in alignment with the Federal Government of Nigeria’s policy guidelines, DSR continues to focus on and enhance its Backward Integration Project (BIP) by deploying and reviewing project strategies to ensure efficient delivery.
He noted that the 700,000 metric tonnes would meet 50 per cent of the current market demand for refined sugar, adding that the 10-year sugar development plan to produce 1.5 million MT of sugar per annum from locally grown sugarcane remained a germane roadmap to the attainment of the Company’s objectives.
“Our focus is on achieving the revised targets set for DSR Numan Operations, Dangote Adamawa Sugar Limited, and Nasarawa Sugar Company Limited, while we are hopeful that the Taraba State Government will resolve the community payment issues that have led to the stoppage of activities at the Dangote Taraba Sugar Limited, Lau/Tau project.
“During the year under review, despite the challenges we were faced with, the company significantly scaled up investment in the Backward Integration Projects with the ongoing expansion of the DSR Numan factory refining capacity from 3,000TCD to 9,800TCD year-end.
“The factory will be increased with an additional 5,200TCD to 15,000 TCD (tonnes of cane crushed per day) eventually to meet the need in view of the massive land development activities also going on at the site. The aim is to achieve 24,200 hectares in total by the year 2029.”
He also emphasised that despite the adverse impact on the business environment by the continuous increase in the inflationary trend, lack of liquidity and FX to fund the company’s equipment import among others for the backward integration projects, concerted efforts are ongoing to secure the needed funds for the development of the Nasarawa Sugar Company Limited project at Tunga in Awe Local Government Area of the state.
“This will enable the company to put in place the needed infrastructure for the eventual commencement of full-scale production and ensure that the Dangote Sugar Backward Integration ‘Sugar for Nigeria Project’ is achieved. In the end, over $700 million investment would be committed to the Backward Integration Programme,” he added.
Dangote said that the Dangote Sugar (Ghana) Limited, was established as a subsidiary of the Company during the year under review, in line with the plan to expand its presence in the sugar industry across Africa.
On outlook, he stated that “achievement of the goals of the Sugar Backward Integration Master Plan remains our focus. This will go a long way in delivering the anticipated benefits, especially in FX savings and cushioning its impact on our operations amongst other benefits to the company, all stakeholders, and the nation.”
Group Managing Director/CEO of Dangote Sugar, Ravindra Singhvi said, “Despite these challenges, we are resolute and focused on the delivery of our business targets in the medium to long term.”
He pointed out that “as we continue to navigate through the scarcity and high cost of foreign exchange, escalating costs of raw materials amongst others, our focus is to enhance the effectiveness of our supply chain processes, optimise cost, improve our operational efficiencies and delivery on our Sugar for Nigeria backward integration project.”
He said “the target is to produce a minimum of 1.5MT refined sugar annually from locally produced sugarcane at our integrated sugar production estates, which is expected to alleviate some pressure on costs and our demand for foreign currency.
“Achievement of a sustainable business remains one of our key strategies and concerted efforts were made towards sustaining the achievements we have recorded in the past,” Singhvi added.
For those believing that President Bola Tinubu’s exclusion of Humphrey Nwosu, the late Chairman of the defunct National Electoral Commission (NEC), was an error that would be corrected subsequently, their expectation came to naught on Friday, with his non-recognition once again.
In a surprise outing, the President failed once again to name the late Professor of Political Science as one of the Nigerians honoured, on the day Nigerians would be celebrating this year’s anniversary of June 12, designed to mark the historic 1993 presidential election, which has now been designated as Nigeria’s Democracy Day.
It was a day Moshood Kashimawo Olawale Abiola (MKO), the candidate of the defunct Social Democratic Party (SDP), was elected President in a transition programme undertaken by the military government of then President Ibrahim Badamasi Babangida (IBB).
Expectations are that because the Option A4 model used in achieving the outcome of the election, acknowledged as the freest and fairest election in Nigerian history, the late electoral commission’s boss, would feature prominently in the list of those to be honoured by the government.
But another list contained in the national broadcast by the President, suggested that the position of the treatment meted to the former NEC Chairman, reflected the thinking in the All Progressives Congress (APC), as the late President Muhammadu Buhari, Tinubu’s predecessor, under whom June 12 was given national recognition.
The list, populated mainly by names from the South West, which included both civilians and military personnel, did not capture the category of national honours to be bestowed on the recipients, as the government said further information would be released in due course.
Prominent among those recognized, was Shehu Musa Yar’Adua, a General and former Chief of Army Staff, Supreme Headquarters between 1976 and 1979, under the military regime of Olusegun Obasanjo, who died in Abakaliki Prison in 1997, where he was detained for allegedly participation in carrying out a coup against Sani Abacha, then Head of State.
Tinubu, said the completed Institute of Petroleum Studies, Kaduna, would now be known as General Shehu Musa Yar’Adua University of Geological Sciences and Engineering Technology, to honour the General, who later became a prominent figure in Nigerian politics, “for his vision of national partnership.”
Listing the other names, Tinubu said: “I am also pleased to announce national awards to the following Nigerians, who suffered persecution, endured indignities, exile, incarceration, and, at times, solitary confinement, so that we have democracy today.”
The recipients included: Ayoka Lawani, Tunde Fagbenle, Oladele Alake, Olatunji Bello, Louis Odion, Segun Babatope, Sam Omatseye, Ademola Osinubi, Bola Bolawole and the duo of Lade Bonuola, former Managing Director of The Guardian and Femi Kusa, former Editor of the Nigerian foremost newspaper.
Others, were: Debo Adeniran, Ayo Opadokun, Chief Ralph Obiora, Ose Osayande, Osa Director, Sylvester Odion-Akhaine, Arthur Nwankwo (Posthumous) and Osagie Obayuwana, all pro-democracy activists.
The list also included Joe Okei-Odumakin , Titus Mann, Joe Igbokwe, Richard Akinnola, Ben Charles-Obi (Posthumous), George Mbah Niran Malaolu, Ishola Williams, a retired Major-General, Femi Aborisade, Jenkins Alumona, Gbemiga Ogunleye, Muyiwa Adekeye, Babajide Kolade-Otitoju and Ike Okonta.
“We also recognise the soldier-democrats of the June 12 struggle: Major General MA Garba, Brigadier General Lawal Jaafaru Isa, Col Umar Farouk Ahmed; Col Sambo Dasuki;
Col Lawan Gwadabe; Brigadier Jonathan Ndam Temlong, Col Musa Shehu; Major General Chris Eze; Major General Harris Dzarma; Col Isa Jibrin; Maj. General Joseph Oshanupin; Col Olusegun Oloruntoba, Olugbede of Gbede Kingdom), Lieutenant Colonel Happy Kefas Bulus, Col J Okai;
Col Emmanuel Ndubueze; Lt Col Yakubu Muazu and Brigadier Yahaya Abubakar, the Current Etsu Nupe, who is already the holder of the CFR title.”
From Godswill Obot Akpabio, Senate President, came a definitive message to Nigerians on Friday – the future is bright, the road is clear and destination is assured under a strong, visionary and purposeful democratic leadership of President Bola Tinubu.
But he also raised a proviso – since democracy is participatory all citizens of the country, must get involved in providing the planks, which when nailed together, would enable the leaders fortify the platform for its growth, to enhance a robust, viable future.
These formed the fulcrum of his admonishment, as he joined other national leaders to celebrate Nigeria’s 27th anniversary of uninterrupted democracy, in which it not only broke the vice grip of military rule, but witnessed seven election circles to choose leaders at both national and other levels of government.
Akpabio, Chairman of the National Assembly, Nigeria’s lawmaking institution, was particular about the participation of the Nigerian youths in making his admonition come true, reminding them that they actually owned the future being fashioned today.
Conveying his message through Eseme Eyiboh, his spokesman the former Governor of Akwa Ibom State and former Minister of Niger Delta, also called on Nigerians to embrace unity, vigilance, and active participation in nation-building, commending them for showcasing resilience and support for democracy despite some low moments.
Noting that democratic experiment remained a testimony of endurance despite years of agitations, he said: “On behalf of the 10th National Assembly, I congratulate every Nigerian for the sustenance of democracy for close to three decades. Mistakes have been made in the course of this journey but we will surely get to the desired destination with your support.”
“Democracy should extend beyond the conduct of elections and be anchored on accountability, justice, compassion and service to the common good.”
Particularly for the Nigerian youths, he was emphatic about their active participation in the nation’s political process stressing that the younger generation forms the fulcrum of leadership succession.
Hear him: “As we commemorate June 12, I wish to encourage the youth not to sit on the fence but be active participants in the nation’s political activities. The youths constitute the fulcrum of those who will succeed us tomorrow.
“Let us therefore rededicate ourselves to the ideals of freedom, transparency and accountable government, social justice, and active citizen participation, especially the youths.”
The Senate President, also spoke the current parlous state of carnage in the country, appealing to Nigerians to unite with one another and cooperate with the government to tame “the monster that has befallen the nation.”
Assuring that Tinubu’s administration remained committed to ending the menace and securing the release of all persons in captivity, he said: “I urge every Nigerian to support the administration of President Bola Ahmed Tinubu in her efforts in fighting terrorism. We understand the pains you are going through but the government is not resting on its oars and hopefully we shall overcome this current challenge and all will be well with Nigeria.”
Seriake Dickson, National Leader of the Nigeria Democratic Congress (NDC), on Wednesday showcased Peter Obi, its presidential candidate in the 2027 election, but gave a proviso – his importance would not be at the expense of the party.
A guest on Prime Time, a public affairs programme on ARISE NEWS Television, the former Governor of Bayelsa State, now Senator representing West at the National Assembly, maintained that the belief in some quarters that Obi’s entrance into the party was a favour was completely misplaced.
Instead, he argued that the opposite was the case, as it was the party that was doing its candidates a favour by giving them the opportunity to contest elective positions on its platform in the 2027 elections, a gesture that ought to be returned.
Hear him: “Don’t make it look like anyone is doing NDC a favour. No one is. Rather, the NDC and I and my colleagues are doing people a favour by granting our platform. If you are genuinely supporting Peter Obi and you are disparaging me, the leader, or the platform itself. That is nonsensical.”
Stressing that NDC had demonstrated confidence in Obi by adopting Obi as its sole presidential candidate and selecting a vice-presidential candidate without internal disputes, he said it was enough to earn its leadership the gratitude it deserved.
He added: “Nobody paid shishi. So, if a presidential candidate didn’t pay shishi to be made the sole presidential candidate and sole vice-presidential candidate, that same party cannot be the one saying that small people are underprivileged.
“I could have run. There’s no one more qualified than me. There’s no one more qualified than me to run for presidential candidate. None. There is no crisis within the NDC. Peter Obi is a cherished member of our party. On our own, we have made him a presidential candidate. Sole presidential candidate. And that counts for something. We are working well together. There’s no crisis.”
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