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Dangote Sugar Commits Billions To CSR Schemes In Adamawa, Nasarawa

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The Dangote Sugar Refinery Plc (DSR) has scaled up its social intervention programmes around host communities in Adamawa and Nasarawa States where its Backward Integration projects are located.

The Group is investing hugely in raw sugar production as part of the Federal Government Sugar Master Plan.

This is coming on the back of $500m that has so far been injected into the project in Nasarawa.

National Sugar Development Council (NSDC) has developed a road map for the realization of self-sufficiency in the sugar sector within a short time. Thus, the Nigeria Sugar Master Plan (NSMP) gave birth to Sugar’s Backward Integration Policy (BIP).

Billions of naira have been expended in social intervention schemes around the communities hosting DSR Numan in Adamawa, and Tunga Sugar Project in Nasarawa.

The company said with 78,000 hectares of farmland in Nasarawa, and 32,000 hectares in Adamawa, it is creating thousands of employment opportunities for Nigerians.

Currently, over 600 workers are being engaged, while 90MW is to be generated in the Dangote Sugar Project in Tunga, Nasarawa State.

The Dangote Group is the second largest employer of labour after the federal government.

While speaking at a recent Annual General Meeting (AGM) of the company, the Chairman of Dangote Sugar Refinery, Aliko Dangote, noted that Nigeria could rake in foreign exchange of up to $700 million yearly from the BIP scheme.

He warned that the BIP scheme must be protected to insulate the Nigerian economy and create jobs.

“If the national sugar master plan is followed strictly and the players follow the rules, the country will be better for it as Nigeria will save between $600 million and $700 million annually as forex,” he said.

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A statement from the Corporate Communication Department of the company said when the factory is fully operational; it would have the capacity to crush 12,000 tons of cane per day,

Some of the Corporate Social Responsibility projects executed include the provision of blocks of classrooms, scholarship, water scheme, rehabilitation and opening up of road network, and construction of health center, among others.

Minister for Industry, Trade, and Investment Otunba Niyi Adebayo who was on a working tour of the Dangote’s expansive Savannah Sugar Company (SSCL) Ltd in Numan, Adamawa State, and the Tunga sugar project site in Nasarawa State, had described the projects as “huge, impressive and amazing.”

The Minister said: “It’s a very impressive sight. It’s amazing that such a project exists in this place. What we’ve seen so far from all the plantations we’ve been to is very impressive. We are impressed with the level of work they are doing.”

In the same vein, in the DSR Numan, the company is not resting on its oars.

In 2020, the company constructed multimillion naira blocks of classrooms, administration blocks, and an examination hall.

DSR Numan has also intervened in the provision of electricity through the donation of 300KVA to the Gyawana Community, as well as the donation of a 27KVA Generator to the Lamurde Community.

The company has also instituted an out-grower scheme in DSR Numan, of which 294 people have so far benefited.

Its intervention in the area of road infrastructure has been very huge, some of which include: the rehabilitation of the Gyawana-Lamurde road, Gyawana-Zekun road, Gyawana Township road, the rehabilitation of Dubwangun road, and the rehabilitation of Opalo-Zekun roads, among others.

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The company has also doled out financial support to youth, religion, and development-based groups in Adamawa State.

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Dangote Industries pledge to make Nigeria self-sufficient in cement, petroleum, others

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Dangote Industries Ltd. says it would ensure that Nigeria becomes self-sufficient in cement, agriculture, mining and petroleum production.

The Regional Sales Director, Southeast, Dangote Cement, Dr Abayomi Shittu stated this in an interview with the News Agency of Nigeria (NAN) in Enugu on Sunday at the ongoing 36th Enugu International Trade Fair.

“Dangote Industries Ltd. is into cement, sugar, salt, poly products, real estate, agriculture, logistics, telecommunications, steel, oil, and gas among other businesses.

“Three of its subsidiaries Dangote Cement Plc., Dangote Sugar Refinery Plc. and Dangote Salt, trading under the name of NASCON Allied Industries Plc. are listed on the Nigerian Stock Exchange.

“Our continuous efforts to innovate, create value and invest in Nigeria are borne out of our firm belief in the vast economic potential of Nigeria.

“Dangote Sugar Refinery, through its out-grower scheme, has provided jobs for thousands of farmers in its host communities.

“The coming of Dangote Fertiliser has to a great extent helped to change the face of agriculture in Nigeria while the Dangote Petroleum Refinery, will drive the development of ancillary industries.

“We recruit graduates of engineering and other technology-based courses and train them in many aspects of industrial operations,’’ Shittu said.

He noted that trade fairs organised by the Enugu Chamber of Commerce, Industries, Mines and Agriculture (ECCIMA) were unique because Enugu State had about the largest concentration of industries in the Southeast and South-South geopolitical zones.

He added that ECCIMA’s trade fairs remained avenues for industries to connect with customers in the Southeast and in the adjoining zones. (NAN)

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Nigeria’s Public Debt Rises 48% To N144.67trn In 2024

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Nigeria’s public debt rose by 48.5 per cent year-on-year (YoY) to N144.67 trillion ($94.23 billion) in 2024 from N97.34 trillion ($108.23 billion) in 2023.

The Debt Management Office (DMO) disclosed this in its latest public debt profile report.
The debt stock consists of external debt of N70.29 trillion ($45.78 billion) serviced with $4.66 million and domestic debt of N74.38 trillion ($48.44 billion).
The report showed that the country’s external debt increased by 83.89 per cent YoY from N38.22 trillion ($42.5 billion) in 2023.

Domestic debt also grew by 25.7 per cent YoY from N59.12 trillion ($65.73 billion) in 2023.
The report further indicated that the Federal Government’s domestic debt component rose by 32 per cent YoY to N70.41 trillion from N53.26 trillion in 2023.
But the domestic debt of states and the Federal Capital Territory declined YoY by 32 per cent to N3.97 trillion in 2024 from N5.86 trillion in 2023.

The rise in public debt can be attributed to fluctuating trends in exchange rates amidst changes in global economic conditions.

The sharp increase, particularly in external debt, highlights the nation’s vulnerability to exchange rate volatility and changes in global economic conditions.
With the continued depreciation of the naira, the cost of servicing foreign debt could escalate, adding pressure on the country’s financial resources.

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NNPCL Names New Senior Management Team

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The Nigerian National Petroleum Company Limited (NNPCL) has announced the appointment of a new eight -man Senior Management Team.

The appointment followed the recent announcement followed the appointment of the Group Chief Executive Officer (GCEO) and Board of Directors.

Disclosing this in a statement on Friday, NNPCL Chief Corporate Communications Officer, Olufemi Soneye, said the appointments all take immediate effect.

“Following the appointment of the Group Chief Executive Officer and Board of Directors, the Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the appointment of a new 8-man Senior Management Team on Friday,” he stated.

“The team which will be headed by the GCEO, Mr Bashir Bayo Ojulari, has Rowland Ewubare as Group Chief Operating Officer; Adedapo Segun as Group Chief Financial Officer; and Olalekan Ogunleye as Executive Vice President Gas, Power & New Energy.

“Other members of the team are: Udy Ntia as Executive Vice President Upstream; Mumuni Dangazau as Executive Vice President Downstream; Sophia Mbakwe as Executive Vice President Business Services; and Adesua Dozie, as Company Secretary & Chief Legal Officer. All appointments are with immediate effect.”

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