Business
Dangote Cement Shareholders Get N3.5 Trillion Dividends In 15 yrs
Shareholders of Dangote Cement Plc have received over N3.3 billion in dividends over the last 15 years. Aside from this impressive dividend payout, the shareholders have also significantly benefited from the capital appreciation of the cement stock.
The benefits to the shareholders were disclosed on the floor of the Nigerian Exchange on Wednesday, during the “Facts Behind the Figure” presentation, by the Management and Board of Dangote Cement, which was ably led by the new Chairman, Mr. Emmanuel Ikazoboh.
Ikazobor, who just assumed the position of the chairman from Aliko Dangote, thanked the shareholders for standing by the company, while also assuring them of consistent good returns on their investments.
He said Dangote Cement remains resolute in transforming Africa by creating sustainable value for all its stakeholders, as it will do all to achieve its vision of making Africa self-sufficient in cement and clinker.
He said: “To our investors, you have my unwavering commitment to safeguarding and growing your investment. To our regulators and market operators, you have my pledge of continued partnership and adherence to governance standards that lead rather than follow. To our employees and partners, you have my gratitude and my assurance that our collective strength will propel us to achievements we haven’t yet imagined.”
Speaking further on the future of the company, the Chief Executive, Arvind Pathak, said: “We aim to expand installed capacity to 66.4Mta by 2030, supporting our long-term vision of making Africa self-sufficient in cement and clinker production. This growth will be driven by a mix of greenfield and brownfield projects.”
He revealed that the company has commissioned the first phase (1.5Mta) of its 3Mta Côte d’Ivoire plant, while construction of the 6Mta integrated Itori Plant continues to advance steadily. In addition, the company, according to him, has announced a $400 million investment to double its production capacity in Ethiopia.
He said: “Over the past 15 years, DCP has committed more than $8.5 billion in capital investments across Africa, underscoring our long-term confidence in the region’s growth prospects.”
The Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga praised the President/Chief Executive, Dangote Group, Aliko Dangote, for his substantial contributions to the Nigerian capital market and private sector development. He said the former Chairman of Dangote Cement, who is also his mentor, has clearly shown that wealth can be created but also transferred to the public through the capital market.
Group Managing Director and Chief Executive of the Nigerian Exchange Group, Temi Popoola, also lauded the new Management and Board of Dangote Cement, noting that with Mr. Ikazoboh as the Chairman, the shareholders will surely be happy.
It would be recalled that the shareholders of the company, in its last Annual General Meeting (AGM), for the year 2024, were full of praise for the Board, Management, and staff of the company after approving a dividend payout of N502.6 billion, which translated to N30 kobo per share.
The company, in the same vein, also significantly increased its social investments by 469.8 per cent to N3.2 billion. The corporate social responsibility (CSR) activities were in education, healthcare, agriculture, infrastructure, and economic empowerment.
President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Faruk Umar, said the shareholders were pleased with Aliko Dangote and his team. He said that for the company to still pay a robust dividend despite the obvious economic challenges, which also affected their operations, shows the doggedness and fighting entrepreneurial spirit of the Management.
According to him, “We are happy with this result. 2024 was very challenging due to the fluctuations in the foreign exchange market and the company’s expansion programme. But despite all these challenges, the company was still able to pay us a very good dividend and even gave us hope of better returns on our investments in the years to come. This is very commendable, and it is only a company like Dangote Cement that can achieve this laudable feat.”
Chairperson of the Pragmatic Shareholders Association of Nigeria, Bisi Bakare, also commended the company’s consistent dividend payment, noting that the Company is moving in the best way of corporate governance. “As a shareholder and an active investor of this company, I am very happy and pleased with the performance of our company so far.
The earnings are not even up to N30 per share, and for the company to still declare N30 per share dividend speaks volumes of the quality of leadership that we are lucky to have in Dangote Cement…It should also be noted that Dangote Cement is the only manufacturing company that paid the highest dividend in the year under review. So, we are happy and very proud to be part of this company.”
Business
Trade Fair Board Backs NAFDAC Crackdown
The Lagos International Trade Fair Complex Management Board (LITFCMB) has condemned the use of its facility for the production of counterfeit products and other illegal activities, pledging to work with regulatory and law enforcement agencies to rid the complex of such practice
The board also commended the National Agency for Food and Drug Administration and Control (NAFDAC) for its recent enforcement operation, which led to the arrest of two persons allegedly linked to the illegal revalidation of expired drinks and the production of counterfeit consumables within the complex.
In a statement issued on Wednesday, the Executive Director and Chief Executive Officer of LITFCMB, Veronica Safiya Ndanusa, said the activities were contrary to the board’s commitment to promoting legitimate trade and ethical business practices.
She disclosed that relevant authorities had commenced investigations to establish the facts surrounding the incident and identify measures to prevent a recurrence.
Ndanusa warned that individuals and businesses found culpable of engaging in activities that endanger public health or undermine the integrity of local manufacturing would face the full weight of the law.
“As a body rooted in the principles of ethical business practices, transparency and genuine trade, we strongly condemn any activity that threatens public safety or brings the reputation of the Lagos International Trade Fair Complex Management Board into disrepute,” she said.
“Our facility exists to provide a conducive environment for legitimate businesses to thrive, not to serve as a breeding ground for the production or distribution of counterfeit and substandard products.”
The board chief assured members of the public that the management would collaborate with relevant regulatory and law enforcement agencies to ensure that the complex remained free of illegal activities.
She also urged traders and business operators within the facility to comply with established standards, stressing that the pursuit of profit must never come at the expense of consumers’ health and safety.
Business
Not The Right Time To Impose New Taxes , Oyedele Warns Governments
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has cautioned governments against introducing new taxes or increasing existing tax burdens on vulnerable citizens and productive sectors, warning that such measures could deepen economic hardship.
Oyedele spoke on the sidelines of the 2026 annual meetings of the International Monetary Fund (IMF) and World Bank in Bangkok, Thailand, where he presented a communiqué on behalf of the Intergovernmental Group of Twenty-Four (G24), which he chairs.
“This is the wrong time to impose new taxes or increase the burden of tax, particularly on the vulnerable population and productive sectors of the economy,” he said.
Responding to questions on how developing countries could reduce debt-servicing costs without cutting essential public spending,report quoted Oyedele as urging governments to identify waste, find savings and improve revenue collection before placing additional financial pressure on citizens and businesses.
He said borrowing remained necessary to finance economic growth but stressed that governments must ensure that debt supports job creation and inclusive development.
“Borrowing and debt financing is a necessary condition for growth, and every country emerging, developing must be able to apply debt financing in a way that is overall of positive impact, particularly to stimulate job-rich and inclusive growth,” he said.
The minister also called for available public funds to be prioritised for essential services, including healthcare and education, while private capital could help finance other areas of investment.
On the choice between taxation and borrowing, Oyedele said both options carried consequences and should be considered in the context of their impact on household welfare.
“If you collect taxes, you raise the money now, and that itself has a lot of trade-offs. What taxes are you collecting? You collect taxes from the most vulnerable, and this will deprive them of money to provide food, health, education,” he said.
He argued that excessive taxation could leave low-income households with less money for basic needs, while borrowing also carried future obligations.
“Debt is future taxes, so it’s not one or the other. It’s to strike a balance, bearing in mind ultimately that the essence of tax and of debts is to cater for the people,” Oyedele said.in the report.
Business
Fayemi Explains Why America Must Have Nigeria As Partner
Former Governor of Ekiti State and ex-Minister of Mines and Steel Development, Dr Kayode Fayemi, has warned the United States against slipping into isolationism in its engagement with Africa, insisting that Nigeria remains a must-have strategic partner in the evolving global order.
Fayemi maintained this position in Lagos while speaking as a panelist at the Nigeria Moment, a Nigeria–United States Strategic Dialogue organised by the American Business Council in collaboration with the Heritage Foundation.
In his presentation, which focused on why Nigeria is a must-have partner in the changing world order, Fayemi,former chairman of the Nigeria Governors’ Forum (NGF) stressed the need for a more holistic relationship between both countries grounded in transparency, mutual benefit and shared prosperity.
He insisted that Nigeria must be treated as a strategic partner in the emerging world order.
“While welcoming the growing American interest in Nigeria’s vast mineral endowment, Fayemi warned that the partnership must go beyond resource extraction.
“Nigeria must be engaged as a strategic actor and a co-creator in shaping the future of global energy and resource governance, rather than as a testing ground for experiments. A partnership built on mutual respect, shared interests and long-term cooperation offers the strongest foundation for an enduring relationship between Nigeria and the United States,” Fayemi said.
Describing the engagement as a pleasure, Fayemi said the dialogue brought together a distinguished group of policymakers, business leaders and strategic thinkers to reflect on the future of Nigeria-US relations.
He commended the convener of the dialogue, Mr Ayo Otuyalo,for an excellent convening and for bringing together such high-level participants for the important strategic conversation.
The conference featured Governor Babajide Sanwo-Olu of Lagos State as keynote speaker, alongside senior representatives of the Federal Government, including the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole; Minister of Power,
Also st the event were : Engr Joseph Tegbe; Minister of Solid Minerals Development, Mr Dele Alake, represented by Engr Simon Nkom; and the Head of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyinwa Eyesan among others.
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