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Dangote ends Nigeria’s Cement importation.
Following continuous increase in its production capacity, foremost cement manufacturer, Dangote Cement Plc has finally ended the era of Nigeria’s dependence on importation as the company exported 0.4 million tons of the product to other countries in 2016.
In its 2016 full year audited results presented on the floor of the Nigerian Stock Exchange (NSE) in Lagos yesterday, Dangote Cement sold 8.6 million metric tons of cement outside Nigeria, which is 54 per cent more than what was sold in 2015.
The export is significant given that the nation used to be a net importer of cement. As at 2011, Nigeria was one of the world’s largest importers of cement, buying 5.1 million metric tons of foreign cement at huge expense to the country’s balance of payments.
The company’s Pan-African cement plants continued to perform well, contributing significantly to its turnover and profitability.
While presenting the results, the company’s Chief Executive Officer, Onne van der Weijde, assured the investors of better returns on their investment in the Dangote Cement.
“The new year has started well and we expect much higher profitability in Nigeria in 2017, even though we may not see the volume growth we achieved in 2016”.
According to him: “The new year has started well and we expect much higher profitability in Nigeria in 2017, even though we may not see the volume growth we achieved in 2016. I am confident that we will deliver an even stronger performance in 2017 as we increase market share and extend our reach across Africa.”
The economic challenges notwithstanding, Onne revealed that Dangote Cement achieved sales and revenue growth of 25 per cent and consolidated its position as Africa’s leading producer of cement.
While sales from Nigerian operations increased by 13.8 per cent to nearly 15.1 million metric tons at a growth rate far higher than the country’s GDP, which fell in 2016, its total revenue leaped by 25.1 per cent to ₦615.1 billion
To the delight of the investors, Dangote Cement earnings per share increased by 4.5 per cent to ₦11.34 and the dividend payout to the shareholders also increased significantly by 6.3 per cent to N8.5 kobo per share.
It would be recalled that Dangote Cement is Africa’s leading cement producer with nearly 46 million metric tons’ capacity across Africa. It is a fully integrated quarry-to-customer producer with production capacity of 29.25Mta in Nigeria; Obajana plant in Kogi is the largest in Africa with 13.25Mta of capacity across four lines; Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta and Gboko plant in Benue state has 4Mta.
The company has also concluded arrangements to build new factories in Ogun State (3-6Mta) and Edo State (6.0Mta). Through its recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into a net exporter of cement serving neighbouring countries.
In addition, the company has invested several billion dollars to build manufacturing plants and import/grinding terminals across Africa. Its operations are in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (1.0Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.7Mta import), South Africa (3.3Mta), Tanzania (3.0Mta), Zambia (1.5Mta).
A member of the House of Representatives, Engr. Aderemi Oseni has paid glowing tribute to the late elder statesman and political icon, Alhaji Yekini Adeojo, describing his passing as the end of an era in Oyo State politics.
The lawmaker, who represents Ibarapa East/Ido Federal Constituency, extolled Adeojo’s lifelong commitment to the advancement of democracy and community development in the state and beyond.
In a statement released through his media aide, Idowu Ayodele, on Friday, in Ibadan, Oseni, who is also the Chairman, House Committee on Federal Roads Maintenance Agency (FERMA) expressed deep sorrow over the demise of the former chieftain of the Peoples Democratic Party (PDP), noting that Adeojo’s legacy of selfless service, mentorship, and unwavering patriotism will continue to inspire generations of political leaders in the region.
“Alhaji Yekini Adeojo was not only a political leader but also a symbol of courage and unwavering loyalty to the good of Oyo State. His contributions to the socio-political growth of our dear state, especially during the formative years of the Fourth Republic, remain indelible,” he said.
The lawmaker stated that the elder statesman was always full of wisdom and generously offered guidance to younger politicians irrespective of party affiliation.
“His doors were always open. He believed in giving others a sense of belonging. We have lost a father figure,” he added.
The APC chieftain, Oseni, who shares the same Ido Local Government Area as the late Adeojo, extended his condolences to the deceased’s immediate family, the Ibadan community, and the broader political circle in Oyo State, urging them to find solace in his impactful legacy.
He prayed for the peaceful repose of Adeojo’s soul and fortitude for the family to bear the irreparable loss.
Renowned Ibadan-born businessman and prominent political figure, Chief Yekini Adeojo, has passed away.
Chief Adeojo, a respected elder statesman and a chieftain of the Peoples Democratic Party (PDP), died in the early hours of Friday.
Although the precise circumstances surrounding his death remain unclear as of the time of filing this report, sources indicate that he will be laid to rest later today in accordance with Islamic rites.
Adeojo was a founding member of the PDP and served as the party’s Deputy National Chairman (South). Over the years, he was a key player in Oyo State’s political landscape and had vied for the governorship seat on multiple occasions.
Beyond his political exploits, Chief Adeojo was also a respected voice within the community, known for his philanthropic gestures and deep-rooted influence in both business and religious circles.
He held the traditional title of Seriki Musulumi of Yorubaland, a position that amplified his standing among the Muslim faithful.
He is survived by children, among whom is Hon. Sheriff Adeojo, the current Chairman of Ido Local Government Area in Oyo State.
The House of Representative member representing Ibarapa East/Ido Federal Constituency, Oyo State, Engr. Aderemi Oseni has felicitated with Barrister Akeem Agbaje, a chieftain of the All Progressives Congress (APC), on his birthday.
Oseni, who also chairs the House Committee on Federal Roads Maintenance Agency (FERMA), in a statement by his media aide, Idowu Ayodele, described the celebrant as a man of integrity and an accomplished legal practitioner whose contributions to politics and governance in the state remain exemplary.
He commended the APC stalwart for his unwavering commitment to democratic ideals and party development, adding that his leadership qualities and dedication to service had earned him respect across political and professional circles.
“Barrister Akeem Agbaje is a brother and friend whose wisdom, integrity, and passion for public service stand out. He has remained one of the pillars of support for our great party and has consistently championed policies that uplift the people,” Oseni said.
The lawmaker lauded Agbaje’s efforts in mentoring young professionals and supporting initiatives that promote education and youth development, noting that his impact extended beyond politics.
Oseni prayed for his continued success, good health, and prosperity.
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