News
Dangote increases shareholders dividend by 50% to N30 per share
Nasiru Yusuf Ibrahim
Amidst applause by shareholders for the impressive results in the 2023 financial year despite the harsh business operating environment, the Chairman of Dangote Cement Plc, Aliko Dangote has announced an increase of 50 per cent on dividend payout to the shareholders, from N20.00 per share paid in the 2022 financial year to N30.00 for the last financial year 2023.
KANO FOCUS reports that in the same vein, Dangote also revealed that arrangements are in top gear for thousands of the Company’s delivery trucks to henceforth run on Compressed Natural Gas (CNG) in line with the Federal Government agenda on adoption of alternative fuel for official vehicles.
This decision, Dangote told excited shareholders at the 15th Annual General Meeting (AGM) of Dangote Cement Plc, held in Lagos was to add to the Federal Government’s quest towards reducing dependence on fossil fuel, thereby enhancing the nation’s energy independence and contributing to a more secure energy future.
According to him: “We are now going to start using CNG vehicles, especially with the new policy of the Federal Government, launched by the Renewed Hope Agenda by His Excellency, President Bola Tinubu. By the end of next year, all our trucks that are operating in the company will be running on CNG, and that is a whole lot of money that we are going to invest. But we are equal to the task, and we will continue to push and make sure that we continue to make our shareholders happy.”
The Chairman disclosed to the shareholders the Company’s ongoing efforts at ramping up production with the ongoing construction of a new plant of 6 million metric tonnes per annum at Itori, in Ewekoro local government area of Ogun State, noting that despite the hiccups at the Apapa Port in Lagos, the plant would be completed to time.
Dangote said the company’s impressive performance was in fulfillment of the promise he made of an enhanced Return on Investments (RoI) to the shareholders and other stakeholders in Dangote Cement, assuring them that the following year would even be better.
He expressed satisfaction that Dangote Cement achieved double-digit growth in revenue of ₦2,208.1 billion, while Group EBITDA (Earnings before Interest, Taxes, Depreciation and Amortisation) reached a record high of ₦886.1 billion, increasing by 25.1%.
“This outstanding EBITDA performance was underpinned by our robust cost control measures and our diverse pan-Africa operations. The latter acted as a cushion, providing resilience to country-specific risks, while the former enhanced our overall profitability. Our pan-Africa operations now contribute 41.2% to the Group’s overall volumes,” he added.
Dangote pointed out,” We made significant strides in our expansion initiatives, with the successful launch of operations at our 0.45Mta grinding plant in Ghana, increasing our total installed capacity to 52.0Mta. Furthermore, our 1.5Mta grinding plant in Côte d’Ivoire is making substantial progress and is nearing completion. Lastly, we have commenced construction on our 6Mta Itori plant in Ogun State, a crucial step in supporting our ambitious export goals.”
The 2023 results showed that Africa’s largest cement manufacturer recorded improvement in all performance measurement indicators with group revenue rising by 36.4 per cent to ₦2,208.1 billion while Profit after tax (PAT) was up by 19.2 per cent to ₦455.6 billion. Earnings per share went up by 18.8 per cent at ₦26.47. Dangote Cement is garnering more market share across the continent with pan-Africa volumes going up by 12.7 per cent to 11.3Mt.
In his interview with the media during the AGM, the Group Managing Director of Dangote Cement Plc, Arvind Pathak said 2023 was yet another testament to the effectiveness of the management’s diversification strategy, despite the challenging macroeconomic conditions.
He said; “Our diverse operations acted as a cushion, providing resilience to country-specific risks. Pan-African volumes were up 12.7 per cent and now account for 41.2 per cent of Group volume. Consequently, pan-African revenue increased by a record 123.2 per cent to ₦925.9 billion, while EBITDA surged by over four-fold to ₦263.7 billion.”
Alluding to what Dangote said on use of CNG as an alternative fuel for its cement trucks, Pathak noted that in response to the heightened inflationary environment, “we implemented new and innovative business strategies that helped to drive up revenues, contain costs, and protect margins. These initiatives included fuel mix optimisation, propelling the use of alternative fuels to replace more expensive fossil fuels. We also began the phased transition from diesel power trucks to full Compressed Natural Gas (CNG) trucks.”
Shareholders one after another were full of praise for the board and management of the Company for the impressive outing in 2023, which accounted for the dividend payout of N30 per share; an increase of 50 per cent over the 2022 dividend despite the economic headwind that characterised 2023.
Mrs. Bisi Bakare, Chairperson of the Pragmatic Shareholders Association lauded the management of Dangote Cement for what she described as a huge dividend payout even when many other companies could not pay their shareholders a dime because they declared losses.
She stated that the shareholders were happy, and expressed optimism that with the way the management has steered the Company in the face of the current economic downturn and recorded good results, the 2024 dividend will be higher.
In his comment, the President, of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar said the shareholders could not but thank the board and management of Dangote Cement for a job well done. He noted that no company, in recent time, has been able to be as profitable as Dangote Cement, just because of the sound judgment of the management in navigating the murky economic weather which has had negative impact on results of some other companies.
He commended Dangote for his patriotism and dedication to the cause of Nigeria and her people with his decision to reduce prices of his petroleum products. He expressed hope that the price of Premium Motor Spirit popularly called petrol would come down once the Dangote Refinery rolls out the product soon.
Nasiru Yusuf Ibrahim
Political allies and loyalists of former Managing Director of the Nigerian Ports Authority (NPA), Arc Aminu Dabo, have begun resigning from the All Progressives Congress (APC) in Kano State following his withdrawal from the ruling party.
KANO FOCUS reports that the supporters, operating under the political group Dabo Alheri Ne, reportedly include members across Kano State’s 44 local government areas.
Barely two days after Dabo announced his resignation from the APC, a prominent stakeholder of the group, Garba Zakiru Dambatta, said members had welcomed the decision and were showing solidarity by submitting their resignation letters to their respective ward party chairmen.
Dambatta, a former APC chairman in Dambatta Local Government Area, said the group’s members were disappointed with what they described as the prolonged marginalisation of Mr Dabo and his supporters within the party.
According to him, despite Mr Dabo’s contributions to the APC and efforts to strengthen the party and manage disagreements among its members, some key stakeholders had continued to sideline him and his loyalists in party activities.
Dambatta reaffirmed the group’s commitment to standing by Mr Dabo’s political decisions and supporting his future political journey.
He also urged the former NPA managing director not to succumb to political pressure or reverse his decision to leave the party.
“This step you have taken, we have the conviction that it is the beginning of a new chapter of goodness in your life,” Dambatta said.
Among the prominent members of the group identified as supporting Mr Dabo’s decision are Abba Rabee’u, a former Senior Special Assistant on Political Awareness; Almustapha Jilani Danmalam, a former Senior Special Assistant on Education; Jamilu Abdullahi Zangon-Mata, a former Senior Special Assistant on Entrepreneurship; and Fahd A. Dabo, a former Special Assistant on Youth Mobilisation.
The individuals reportedly served during the second term of former Kano State Governor Abdullahi Umar Ganduje.
The group also said several other party loyalists and supporters were backing Dabo following his resignation.
However, the statement did not provide the number of members who had formally resigned from the APC or indicate whether the party leadership had responded to the development.
Nasiru Yusuf Ibrahim
Five players of Kano Pillars Amputee Football Club have been invited to the national camp of Nigeria’s Special Super Eagles ahead of the 2026 Amputee Football World Cup in Mexico.
KANO FOCUS reports that invited players are Isah Yusuf, Abba Musa, Habu Friday, Emanuel Betel and Usman Ahmed. They are currently in Abuja with the national team as preparations intensify for the global tournament.
The Team Manager of Kano Pillars Amputee Football Team, Jamilu Uba Adamu, disclosed this in an interview with Ashiru Rabiu Gidan Tudu, Information Officer of the Kano State Sports Commission.
Adamu described the invitation as recognition of the players’ dedication, discipline and outstanding performances.
He expressed confidence that the players would represent Kano State and Nigeria with honour at the championship.
According to him, the call-up also demonstrates Kano Pillars’ commitment to nurturing talented amputee footballers and contributing to the development of the sport in Nigeria.
The 2026 Amputee Football World Cup is scheduled to take place from November 13 to 22 in San Juan de los Lagos, Mexico. A total of 24 countries, including seven African nations, are expected to participate.
The Executive Chairman of the Kano State Sports Commission, Muhammad Tukur Babangida, congratulated the five players on their invitation, describing it as well deserved.
Babangida expressed confidence that they would justify the confidence reposed in them by the national team selectors.
He assured the players of the commission’s continued support and urged them to remain focused, disciplined and committed to making Kano State and Nigeria proud on the international stage.
Nasiru Yusuf Ibrahim
Professor Muhammad Ahmad Makarfi of Bayero University, Kano (BUK), has identified inclusive microfinance as a critical tool for addressing food insecurity and poverty in Nigeria.
KANO FOCUS reports that Prof. Makarfi, of the Department of Agricultural Economics and Extension, made the recommendation while delivering the university’s 64th Professorial Inaugural Lecture on Thursday, October 14, 2026, at the CBN Centre of Excellence.
The lecture, titled *“Innovative Options for Nigeria’s Food Security and Poverty Alleviation: The Microfinance Pathway to Sustainable Development,”* examined how improved access to affordable financing could boost agricultural production and strengthen rural livelihoods.
The professor said that despite Nigeria’s vast agricultural resources, food production and rural livelihoods continued to face challenges, including limited access to affordable finance, insecurity, climate change, inadequate infrastructure and low agricultural productivity.
He argued that expanding access to agricultural finance, particularly for smallholder farmers, would encourage investment, improve productivity and strengthen the country’s food security.
Prof. Makarfi reviewed Nigeria’s agricultural financing policies and interventions, highlighting the need for innovative credit delivery systems that would make funding more accessible, affordable and sustainable for farmers.
He identified microfinance institutions and Islamic finance models as potential avenues for improving access to agricultural credit.
In his recommendations, the professor said sustainable food security and poverty reduction required policies that prioritised increased domestic agricultural production through better access to finance, modern technologies, quality farm inputs and markets.
He also called for stronger microfinance institutions, expanded farmer-friendly financing mechanisms and an enabling environment to attract investment across the agricultural value chain.
According to him, such measures would improve agricultural productivity, enhance livelihoods and accelerate Nigeria’s sustainable development.
Earlier, the Vice-Chancellor of BUK, Professor Haruna Musa, who chaired the lecture, was represented by the Deputy Vice-Chancellor, Academics, Professor Ahmad Muhammad Tsauni.
Prof. Musa commended the lecturer for choosing a topic that addressed critical issues surrounding food insecurity, livelihoods and agricultural development.
The Dean of the Faculty of Agriculture, Professor Aminu Sulaiman, who presented the lecturer’s citation, said Mr Makarfi had published more than 150 local and international publications, contributed 10 book chapters and authored eight books.
Professor Mahmoud Ibrahim Daneji, who represented the Head of the Department of Agricultural Economics and Extension, delivered the vote of thanks.
Dabo’s resignation triggers wave of defections from APC in Kano
Five Kano Pillars Amputee Players Invited to Special Eagles Camp Ahead of World Cup
BUK Professor advocates microfinance to tackle food insecurity, poverty
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Former NPA MD Aminu Dabo resigns as APC caucus chairman in Dambatta
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