News
Dangote Cement: Pan-African revenue for half-year grows by 139.9%
Nasiru Yusuf Ibrahim
Dangote has continued to attract huge forex into the country through his pan-African operations as the half-year result for Dangote Cement indicates an increase in revenue from Pan-African operations by 139.9 per cent, growing to N807.1 billion as against N336.4 billion, reported in the corresponding period of 2023.
KANO FOCUS reports that the cement plant also reported a 10.9 percent increase in the Nigerian market which rose from 8.0Mt to 9.0Mt in the half year ended June 30, 2024. According to the 2024 half-year results of the cement company, group volumes rose by 3.8 percent to 13.9Mt. Group revenue was up by 85 percent to N1,760 billion compared to N950 billion at the corresponding period in 2023 driven by 60 percent growth in Nigeria which rose to N991 billion from N618 billion.
A statement sent to KANO FOCUS by Dangote Industries Limited said as part of continuous efforts to promote a cleaner environment, Dangote Cement commissioned 11 of the 17 Alternative Fuel Projects across the Group and also took delivery of 300 full CNG trucks for its Nigerian business. It achieved a thermal substitution rate estimated at 10.5 percent for H1 2024 compared to 7.8 percent in H1 2023.
Chief Executive Officer, Dangote Cement, Arvind Pathak, in his remarks, said: “We effectively navigated macroeconomic headwinds to deliver positive results in the first half of the year. Group volumes were up 3.8%, with our Nigeria operations achieving double-digit volume growth of 10.9%. This growth was driven by improved efficiency across our operations and supported by increased market activity levels compared to the election year and cash crunch in 2023.
Despite the challenges of elevated inflation, high borrowing costs, and a further weakening of the currency in the first six months of the year, our business demonstrated strong resilience. This was due to our rigorous focus on cost minimisation and our diversified business model.”
He added, “Group revenue and EBITDA rose 85.1% and 50.3% to ₦1,760.1 billion and ₦666.2 billion, respectively. Our Profit After Tax (PAT) reached ₦189.9 billion, marking a 6.3 percent increase. I am pleased with the performance of our business, as key financial indicators are showing positive trends.
By leveraging our robust export-to-import strategy, Dangote Cement completed fourteen shipments of clinker from Nigeria to Ghana and Cameroon. This effort resulted in a 55.2 percent surge in our Nigerian exports, underscoring our commitment to fostering African self-sufficiency.
Looking ahead, we remain bullish about the growth prospect of the African region, evident in our increased capital investments. We continue to prioritise innovation, cleaner energy transition, and cost leadership towards achieving our vision of transforming Africa and building a sustainable future.”
Nasiru Yusuf Ibrahim
A former Governor of Kano State Dr. Rabiu Musa Kwankwaso, has commended the Inspector-General of Police, Olatunji Disu, for ordering a fresh investigation into the disappearance of activist and lecturer Abubakar Idris Dadiyata.
KANO FOCUS reports that Kwankwaso made the remarks in a statement posted on his Facebook page on Saturday following recent testimony by a former aide to an ex-state governor, who allegedly claimed that police officers were responsible for Dadiyata’s disappearance in Kaduna.
Dadiyata, a lecturer and social media commentator, was abducted in 2019, and his whereabouts have remained unknown since then.
According to Kwankwaso, he and his associates have consistently advocated for a thorough investigation into the incident and for those responsible to be brought to justice.
He described the Inspector-General’s directive for a comprehensive investigation as a “decisive and long-overdue action,” expressing hope that the process would uncover the truth behind the disappearance.
The former governor also urged police authorities to place individuals named in the allegations under close surveillance to prevent interference with the investigation.
Kwankwaso further called on the government to ensure that Dadiyata, if found alive, and his family receive adequate compensation for the trauma and hardship they have endured over the years.
He commended members of the public for sustaining advocacy efforts on the case and also praised Abba Hikima Fagge for what he described as his important role in the latest developments surrounding the investigation.
Kwankwaso expressed optimism that the renewed probe would ultimately deliver truth and justice in the case.
Nasiru Yusuf Ibrahim
The Director General of the Telecommunications Regulatory Board (ART) of the Republic of Cameroon, Philemon Zoo Zame, on Wednesday visited the headquarters of the [Nigerian Communications Commission (NCC) in Abuja for a benchmarking exercise aimed at strengthening regulatory collaboration and knowledge sharing between both countries.
KANO FOCUS reports that during the visit, the Cameroonian telecom regulator met with the Executive Vice Chairman and Chief Executive Officer of NCC, Aminu Maida.
A statement issued by Ayiabari A. Kigbara, Manager, Media Relations, Public Affairs Department of the NCC, said the engagement focused on exchanging ideas and best practices in telecommunications regulation, with emphasis on enhancing efficiency and development within the sector.
Nasiru Yusuf Ibrahim
Dangote Petroleum Refinery and Petrochemicals Limited has announced that its ex-depot price of Premium Motor Spirit (PMS) remains unchanged, reaffirming its commitment to stability in Nigeria’s domestic energy market.
In a statement issued by Esan Sunday, Head of Media Relations, Branding and Communication, the company said sustaining the current price reflects its efforts to cushion the broader economy against external shocks. It noted that by absorbing prevailing cost pressures, the refinery is helping to moderate inflationary risks, promote energy affordability, and ensure uninterrupted fuel supply amid ongoing global uncertainties.
The company reiterated its dedication to the steady supply of high-quality petroleum products to the Nigerian market, while aligning with national objectives of price stability and energy security.
It also urged the public to rely solely on official communications from the refinery for accurate and up-to-date information regarding its operations and pricing.
Kwankwaso commends IGP over probe into Dadiyata’s disappearance
Cameroon telecom regulator visits NCC for benchmarking exercise
Dangote Refinery maintains ex-depot price of PMS
Tinubu congratulates Garo on appointment as Kano deputy governor
Ganduje acknowledges Sanusi II as Emir of Kano, 6 years after dethroning him
Kano SUBEB disowns fake teachers’ recruitment results
Sarkin Fulanin Jaidinawa Abubakar Gwadabe Buhari dies, funeral set for Wednesday
Kano Judicial Commission sanctions Shariah Court Judges, other staff over misconduct
Tinubu nominates Kano’s Rabiu Umar as new NMDPRA chief
