The recent border closure drill has been attributed to the rise in headline inflation which is currently at 11.61 per cent as of October 2019.
Mrs. Zainab Ahmed, who is the Minister of Finance, Budget and National Planning, briefed Journalists on Wednesday after the Federal Executive Council (FEC) meeting in Abuja, adding that recent figures from the Nigeria Bureau of Statistics (NBS) were noticed since September.
The Minister informed that the increase in food inflation witnessed in September and October is linked to the increase in prices of food, propelled by the border closure.
“Headline inflation declined for several months before we noticed an uptake in the last two months and now headline inflation is at 11.61 percent as at the end of October.
“The slight increase between September and October is due to increases in food inflation ascribed to increase in prices of cereals, rice, and fish.
“Part of the reason is the border closure; the closure is very short and temporary and the increase is just by 2 basis points,” she explained.
Mrs. Ahmed pointed out that discussions with neighbouring countries on the border closure have advanced and the Federal Government is expecting every party to respect the protocols they are all committed to.
She stressed that the government is making sure that the economy does not suffer once the African Continental Free Trade Area Agreement (AfCFTA) comes into effect.
“The border closure is temporary; we have really advanced on the discussion between ourselves and our neighbours and we expect that the outcomes of those discussions and agreement are that each party will respect the protocols that we all committed to and then the borders will be open again.
“What we are doing is important for our economy as we signed on to the AfCFTA, we have to make sure that we put in place, checks to make sure that our economy is not overrun as a result of the coming into effect of the AfCFTA and that’s why we have this border closure to return to the discipline of respecting the protocols that we are all committed to.”
Dangote Honours 160 Staff at Long Service Award Ceremony
Dangote Industries Limited recently presented 160 employees with long service award in recognition of their commitment, loyalty, exceptional service and invaluable contribution to the growth of Africa’s most admired brand over a period of 10 to 30 years and above. Post-humous awards were also given to ex-employees who lost their lives during their time of service at the organization.
At the Dangote Long Service Award, hosted by the Group Managing Director, Dangote Industries Limited Mr. Olakunle Alake, celebrated members of staff were each given a certificate of recognition, an award plaque, financial reward and ovation from other members of staff, family members and friends of the awardees.
During the ceremony, 29 staff were awarded with 10 – 14 years’ of service awards; 85 employees with 15 – 19 years’ of service; 29 employees with 20 – 24 years’ of service; 13 employees with 25 – 29 years’ of service and 4 employees were also honored with 30 years’ of service awards.
Remarkably, 12 staff who had passed on while in active duty to DIL, were eulogized and post-humous awards were given to their families for their dedicated service ranging from 10 to 39 years.
The Group Executive Director, Logistics and Distribution, Dangote Industries Limited, Alhaji Abdu Dantata, emerged the highest living awardee for his 36 years of service, while the Group Managing Director, Mr. Olakunle Alake, who gave the welcome remarks, was given an outstanding ovation for his 29 years of loyalty in service to the organization.
In his keynote address, the Group President/CE of Dangote Industries Limited, Aliko Dangote, commended all the awardees for their loyalty, commitment and dedicated service over the years; all of which had contributed to elevate the company from a trading concern founded in 1981 to one of the largest manufacturing conglomerates in Africa today, with a household name in Nigeria and a global brand to boot. He noted that employees, especially the awardees, were crucial part of the global success story which Dangote Industries has become today.
According to him, “I want to say a very big thank you to all of us here tonight. Indeed, loyalty is royalty and the successful growth of our company is a direct result of your excellent service. Your loyalty upholds our core principles and our continuous growth is based on a culture of resilience and loyalty.
“Today, we celebrate your individual and collective successes and our breakthrough was due to your investment of many years of loyal service. I encourage you to remain dedicated and committed. We deeply appreciate you and your efforts. Thank you very much”, Dangote added.
Africa’s wealthiest and foremost philanthropist, who personally presented the awards to all the awardees that have served DIL for 25 years and more and to the families of all the post-humous awardees, was likewise presented with a surprise gift of a framed picture of himself with the names of all the 160 awardees embedded by the organizing committee led by the Group Managing Director, Mr. Olakunle Alake.
Their overall gratitude at the award, gift and honor was aptly captured by a staff in the security department, Mr. Samanja Umaru, who was rewarded for his 20 years of service to the company. Samanja, who effusively narrated how Dangote has transformed his life and family, pledged his undying loyalty to the organization which has given him so much.
According to Samanja, “Dangote is a blessed man and Dangote (DIL) is a good company. I began working with Dangote way back in 1981 at the warehouse where we were paid N10 daily. God bless Alhaji Dangote. He carries everybody along, whether Hausa, Yoruba, Ibo, anyone. Alhaji Dangote changed my life. He is a blessed man”
Dangote’s daughter, Halima Takes Charge of Dangote Group Commercial Operations
Halima Dangote, the second daughter of Nigerian business mogul Aliko Dangote has been appointed as the Group Executive Director, Commercial Operations of Dangote Industries Limited (DIL) one of Africa’s largest and most diversified business conglomerates.
According to a release by the company, Halima Aliko Dangote is returning to the Group after serving on secondment in several capacities across two of its Business Units over the last five years. She is also a Trustee of the Aliko Dangote Foundation, the philanthropic arm of the conglomerate.
In her most recent role, Halima served as Executive Director of Dangote Flour Mills. Remarkably, she led the turnaround of the business from loss in turnover to a profitable status; a feat derived from consistent high performance over time.
Previously, she served as Executive Director of NASCON, a manufacturer of salt, seasonings and related consumer products, which are enjoying huge patronage among consumers. She continues to serve as a Non-Executive Director of NASCON.
Halima is the president of the Board of The Africa Center in New York, a uniquely focused center providing a forward-looking gateway for engagement with Africa, while encompassing policy, business and culture. She is a Board member of Endeavour Nigeria, and is also a member of the Women Corporate Directors (WCD).
She has over 12 years of professional experience and has held several executive management roles. In her new role, Halima will be responsible for leading the development and implementation of the Dangote Group’s customer strategy to drive customer growth, improve customer relationship management, enhance customer experience and increase long term customer value, according to the release.
She will also be responsible for the implementation of the Group’s shared services strategy with specific oversight for the following functions; Commercial, Strategic procurement, Administration and Branding & Communications.
Halima, who has a strong passion for women empowerment, holds a Bachelors’ Degree in Marketing from the American Intercontinental University, London, United Kingdom and a Master’s Degree in Business Administration from Webster Business School, United Kingdom.
She has attended a number of high profile leadership development programmes including: the Programme for Leadership Development (PLD) at Harvard Business School; Executive Development Programme at Kellogg School of Management; Finance and Accounting for Non-Financial Executives at Columbia Business School.
The Dangote Group, which recently emerged as the Most Admired African Brand and the Most Valuable Brand in Nigeria for the second consecutive year (2018 – 2019) is actively involved in manufacturing cement, sugar, salt, flour, poly-products as well as logistics, oil & gas and real estate.
Dangote Group, Togo partner to transform Phosphate into Fertiliser
Dangote Industries Limited and the Government of Togo (GoT) have concluded an agreement to develop and transform Togolese phosphate into phosphate fertilizers for the West African sub-region; in a bid to improve consumption of the product in Africa.
With over two billion tonnes of phosphate reserves, Togo is one of the leading phosphate producers in Africa. By partnering the Dangote Group, the country intends to benefit from the expertise and investment capacity of Africa’s largest industrial group, according to a joint release issued by the Dangote Group and the Communications Department of the Presidency of the Republic of Togo.
With the completion and commissioning of the Dangote Petroleum Refinery and Fertilizer complex in Ibeju-Lekki, Lagos, Dangote Group will be the largest ammonia producer on the African continent, the release noted. Ammonia is an essential ingredient in the transformation of phosphate into fertilizer derived from phosphates. Under the agreement, Togo will provide access to phosphate resources and the Dangote Group will provide access to ammonia and to the Nigerian market.
The project, in line with second pillar of the Togo National Development Plan, should enable the production of more than 1 million tonnes of fertilizers derived from phosphates once completed. The cost of the investment is estimated at about $2 billion and is expected to create several thousand direct jobs. Mining development work will start before the end of 2019, it added.
On this occasion, Dangote Group also announced the establishment of a cement manufacturing plant with an annual capacity of 1.5 million tonnes in Lomé. This plant will use clinker from Togo and Nigeria and will meet both local and neighbouring countries’ demand, the release noted.
It further added that construction of the Lome plant is billed to start in first quarter of 2020 and its commissioning scheduled to take place before the end of 2020. The investment is estimated at $60 million and is expected to create 500 direct jobs.
Togolese President, Faure Gnassingbé said, “The structural transformation of our economy is the main objective we have set ourselves in the context of the 2018-2022 NDP. By processing our phosphate we will not only create jobs but we will also be able to provide our farmers with good quality fertilizers at an affordable cost. Having an industrial investor like Alhaji Dangoté shows that our efforts to improve the business climate are paying off. We intend to continue in this dynamic for the well-being of Togolese men and women.”
President/CE Dangote Group, Aliko Dangote said, ‘’This partnership is in line with our transformation agenda in creating prosperity and enhancing economic development not only in Togo but also in Affrica. In addition, the Dangote Group is determined in supporting the Government of Togo in its industrialisation strategy aimed at creating jobs for its citizens and making Togo an attractive investment destination.’’
The two investment agreements reinforce Togo’s industrialisation strategy adopted under the 2018-2022 National Development Plan.
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