The statement titled, ‘Obajana: Desperation sets in as imported hoodlums burn down Kogi Assembly’, which was signed by the Kogi State Commissioner for Information and Communications, Kingsley Fanwo pointedly accused our company of burning the Complex “in an attempt to possibly destroy evidence relating to the ownership tussle between the Kogi State Government and the Dangote Group over the Obajana Cement Company.”

As a socially responsible corporate entity, we totally refute this allegation and condemn this unprofessional and irresponsible attempt to smear our image before local and international investors and thus erode our brand value.

Dangote Group would never stoop so low as to sponsor thugs to destroy any property, belonging to either government or any individual. This runs contrary to our business ethos and everything we stand for as a leading manufacturer with teeming customers and consumers across Nigeria and Africa.

Our lawyers have been mandated to react appropriately to the damaging allegation from the Kogi State Government within the full extent of the law.

We urge our stakeholders and the public to disregard such irresponsible and insane statements as we ask all our stakeholders, namely shareholders, customers, suppliers, employees, and the entire community of Obajana and Kogi State at large to remain calm while we follow the legitimate and lawful process to resolve this matter with the State Government.

The post Dangote Not Involved In Kogi Assembly Fire Outbreak appeared first on Business News in Nigeria.

Some of the winners, who spoke on the impact of the cars and millions of Naira won during the previous seasons, described the promo as a big relief and a crucial palliative that lessened the negative impact of the COVID-19 pandemic which had then shut down the whole world.

More than 450 consumers had emerged either as instant millionaires or owners of brand new car prizes, while others won hundreds of tricycles among other attractive prizes during the Season 1 and Season 2 of the consumer promo.

The star winners across Nigeria who were presented with brand new saloon cars or one million naira as prizes, commended the cement manufacturing giant and its Chairman, Aliko Dangote for transforming their lives for the better.

Some of the excited winners, who were contacted by telephone, recalled how they initially thought it was a dream until they were later presented with their various prizes in the full glare of the public. They said their winnings had enriched their lives and livelihoods, and hailed the sincerity of Dangote Cement in handing over the cars to them.

A winner, Mr. Clement James of Marble Construction, Kaduna State who won a brand new car during the last Dangote Cement promo said the prize has enhanced the profitability of his business.

According to him, the car has assisted his company in marketing Dangote Cement products within and outside Kaduna. “We have been using the car to meet clients and customers’ needs in and around the state. This has further increased our customer base and boosted our profitability,” he stated.

James pointed out that the car gift has showcased Dangote’s interest in human empowerment. “The truth is that the car gift has made people to understand that Dangote is not only interested in making profits, but also highly interested in impacting lives of both customers and consumers of its products.

“Before now, we only hear of how much Dangote contributes to empowerment and we had not experienced it personally. With the Dangote Cement promo, we were able to feel the impact directly. It now boosts the confidence of consumers on the company’s products,” he added.

Another past winner, Emmanuel Boye, Managing Director of Awuley Investment Limited, Abuja said the branded car prize his company won has become a source of advertisement for Dangote Cement and its products as people are now becoming more aware of these quality products.

“The prize has increased customers’ behavior in a positive way. The truth is that many people in our locality now have more confidence in us that we are selling high-quality cement products. The branded car has made customers to believe that we are not selling counterfeit re-bagged products because they have seen something to confirm that we are getting the product directly from the company’s factory. So, our sales volume has greatly improved in the past two years,” Boye added.

Apart from the car prizes, some other consumers especially those who won star prizes of a million naira each during the promo said they used the cash to expand their businesses.

Mr. Nsikan Emmanuel from Calabar, Cross River State who was one of the one million Naira prize winners said, “The Dangote Cement sales promotion was a nice technique that attracted consumers to purchase more of Dangote Cement, and they have thus continued to patronise the product. Dangote is the top cement company in Nigeria that produces quality cement at affordable price.“

Another winner, Yahaya Isah Abdullahi from Kano State, said he used his million naira cash prize to expand his business. According to him, he now buys more bags of cement for sale rather than depend on credit grants from distributors. Abdullahi said he has more capital to run his business, all thanks to Dangote Cement and its promo.

For Mr. Edet Udeme of Delta State who also won one million naira, he said he used part of the money to expand his business and another part to purchase a motorcycle for customer contact and product distribution. 

He said the motorcycle has enhanced his mobility and enabled him to reach out to more consumers of Dangote Cement products. “I want to thank Dangote Cement for impacting the lives of consumers through the cement promo. It will be good to see more of such promos in the future,” he said.

Speaking on the promos, Group Chief, Branding and Communications Officer, Dangote Industries Ltd, Mr. Anthony Chiejina explained that the company’s decision to launch the promos for the consumer aligns with its vision and mission to enhance the lives of the people by helping to provide their basic needs. “This strategy is in tandem with the quality of our exceptional products, in line with our brand promise”, he said.

According to Chiejina, “The timing of the promo, two years ago, was very strategic, as the world was feeling the pains of the COVID-19 pandemic and the management thought it was good to come to the aid of its loyal customers by rewarding them via the promo.

“When Dangote Cement came out with Bag of Goodies Season 2 themed Spell Dangote and Win a Million Naira promo in 2020, it had one thing in mind, which is to give back to the consumers of the product and impact as many lives as possible.

“Two years after the promo, the company can confidently attest to the fact that it has been able to contribute positively to the lives, wellbeing and businesses of its consumers. The mega promo, which produced hundreds of winners across the country, assisted in mitigating the effect of the COVID-19 pandemic on consumers and dealers of Dangote Cement,” Chiejina added.

The post Dangote Cement Promo: Previous Seasons’ Winners Recount Gains appeared first on Business News in Nigeria.

Against the background of constant building collapse across the country, the Standards Organisation of Nigeria (SON) said block moulders occupy a strategic position in the building industry and therefore should make quality their watchword.

The SON gave the advice in Port Harcourt, Rivers State during a recent sensitisation workshop organised by Dangote Cement Plc in collaboration with the regulatory organisation for the block moulders and other artisans from Bayelsa and Rivers states.

Speaking during a presentation at the workshop, SON’s Asst. State Director, Engr. Lillian Gua emphasised the need for the artisans to know the right mixes in the production of blocks so that they would be able to achieve the expected quality.

The SON boss took the participants through the work of her organisation and how products are certified as being standard while citing Dangote cement as an example of a certified product whose quality has been tested and found to be accurate.

She enjoined the participants to acquaint themselves with steps and processes involved in getting a product certified so that they would not be deceived into buying fakes. Gua added that every certified product is issued a certificate of standard as proof of having gone through the quality test conducted by the SON.

Gua thanked the management of Dangote Cement Plc for the workshop, saying the participants need such sensitisation sessions from time to time to keep them abreast of developments especially as it affects quality and standard of products.

In his presentation, Technical Director, Dangote Cement Plc, Mr. Adeiza Aniki explained that the sensitisation workshop was meant to update and refresh the block moulders and artisans’ recent events in the industry, as much as standard and quality are concerned.

He stated that Dangote Cement holds the participants dearly as critical point in the cement value chain and has therefore made the workshop a periodic exercise so that the company could also get feedback from the market and help in meeting the demands of the customers at all time.

Aniki told the participants of the need to contribute to the efforts at stemming building collapse in the country and one of the ways they can do that is by adhering to quality and exposing bad eggs wherever they see any.

He told the block moulders and artisans that they can rely on Dangote Cement at any time, and went ahead to give them hints on how they can ascertain the quality of cement as a major component in the block making process.

According to him; “check the manufacturing date of cement because the strength of cement reduces with age, and also the cement expiry date should not be exceeded as at the time of use. Ensure batch codes are available on the bags found at the site.

“Check for the presence of lumps in the cement.Check for hydration of cement by checking for the presence of lumps, which is a sign of absorption of moisture from air or environment, due to poor storage or damaged bags.

“Check for excess amount of dust in cement, which is called float test. To do this, put a small quantity of cement in a bucket of water. If the cement floats on the water for some time before it sinks, the cement is of good quality. If the cement sinks immediately it touches the water, the cement is a bad quality cement.

“Check for temperature. If it is cool inside the bag, the cement should be considered as good quality, but if it is warm inside, the process of hydration is taking place, hence strength will be affected. Make sure you keep the cement in a dry environment.

“Check for cement adulteration, it makes the cement poorer in quality by addition of another substance. Rub the cement between the fingers and if it gives a smooth feeling, the cement is of good quality; but if it feels gritty or rough, it means other substances have been added. This is a sign of bad quality cement. It will lower strength.

“And lastly, check for odour. This can be used to evaluate the presence of clay or silt. If the cement contains too much of clay and silt as an adulterant, it will give an earthy smell,” he added.

Aniki explained that Dangote cement has made available different grades and varieties of cement to suit the use of its customers in many ways, citing 3X, Falcon and BlocMaster as some of the varieties in the market.

The post Dangote Cement To Block Moulders: Don’t Compromise appeared first on Business News in Nigeria.

The new plant, which he commissioned in the presence of some 18 governors, ministers, captains of industries as well as prominent traditional rulers, is located at Ibeju Lekki, Lagos Free Trade Zone within the periphery of the Dangote refinery.

A visibly excited President Buhari said the coming on stream of the plant would create huge opportunities in the areas of employment, trade, warehousing, transport and logistics. The Plant, according to the President “will greatly create wealth, drastically reduce poverty and secure the future of our nation”.

He said, “In the agricultural sector, another focal point of our economic policy, we expect a boom as fertiliser is now readily available. Many Nigerians who hitherto practiced subsistence farming because of non-availability of necessary inputs can now take up agriculture as a business. We expect a rise of new breed of agropreneurs who will add value to farming and make the nation self-sufficient in food production.”

According to him, the federal government is now determined more than ever before to provide enabling environment for private sector investors to thrive, adding that his government would continue to improve on infrastructure, power, security and enact relevant laws and regulations that would drive investments in the economy.

President Buhari reiterated that part of the government’s effort in this regard was the partnership with the private sector government via a tax credit scheme, in the rehabilitation of roads across Nigeria under the Presidential Order No. 7.

“As we all know, good roads contribute to easy movement of goods and services across the nation, thus reducing cost of doing business and improving productivity. We are also rehabilitating our railway lines and building new ones to lessen the burden on our roads and create more effective multi-model transportation networks,” he added.

In an earlier welcome address, President of Dangote Group, Aliko Dangote described the new plant as a game changer, as it has the capacity to make Nigeria become self-sufficient in fertiliser production, with spare capacity to export to other markets in Africa and the rest of the world. He added that already, Dangote fertiliser has reached the markets in the USA, Brazil and Mexico.

According to him, the Fertiliser plant, which is the largest granulated  Urea fertiliser complex in Africa, occupies 500 hectares of land, was built at a cost of $2.5 Billion, and is expected to reduce drastically level of unemployment and youth restiveness in the country through employment opportunities. To him, the plant is expected to generate new jobs with top quality fertiliser being available and in sufficient quantities for the farmers.

He stated that agriculture accounts for 20 per cent of the nation’s GDP and that the new plant was an ambitious project that would provide both direct and indirect employment, thereby reducing youth restiveness

Dangote Fertiliser, according to him, would ensure emergence of farmers in the country, providing hundreds of jobs and ushering in a new era of agricultural entrepreneurs, (agroprenuers). “This breed of agroprenuers will take to farming on large scales, providing food and raw materials for our industries,” he added.

Dangote stated that the fertiliser plant is rolling out with innovations that would transform the agricultural sector in the form of extension services for small and medium scale farmers. It has set up a well-equipped fertiliser soil testing laboratory to enable it analyse and identify soil deficiency and the appropriate fertiliser blend.

“Studies have shown that applying the right fertiliser to the soil will boost productivity. This service is to cover all the geopolitical zones, and will surely change agricultural landscape in the country by transforming farming into a lucrative profession.

“Dangote Fertiliser is working with Farmer Associations, Corporate Farmers, NPK Blenders, NGO/development partners and State Governments all over Nigeria, and governments across Africa and beyond who are looking for sustainable approach to improving soil quality and farm yields,” he explained.

Speaking at the occasion, Governor of Central Bank of Nigeria, Godwin Emefiele said Nigeria is indeed indebted to Aliko Dangote for his giant stride to add value to Nigeria’s economy. According to him, “It is great that a Nigerian has taken not just this great initiative of helping to solve our perennial problem of importing petrochemical products including fertiliser but has taken advantage of the emerging huge market opportunity presented by recent global developments.”

Emefiele commended President Buhari for providing all the support needed to put in place economic policies that would reverse the trend of the doldrums, pointing out that the completion of the fertiliser plant is a stellar example of the realisation of the vision.

The CBN governor described the fertiliser plant as timely considering the recent developments in the global market, where prices of wheat, fertiliser and crude oil spiked by over 20 per cent, following the start of the Russia – Ukraine war.

“In addition to the lessons we learnt from the protectionist actions of countries during the early days of COVID-19, this investment is again a glaring testament to the foresight and tireless efforts of Mr. President in encouraging domestic production of items that can be produced in Nigeria, especially agriculture. This would not only help to enable greater productivity of our agricultural sector but also help in insulating Nigeria farmers from depending on imported fertiliser,” Emefiele stated.

He recalled that prior to 2015 when President Buhari resumed office, Nigeria had a fertiliser shortfall of about 3.5 million tonnes per annum compared to the over 6 million tonnes per annum required in the country.

“Then President Buhari inaugurated the Presidential Fertiliser Initiative and charged them with resolving this problem. With sustained efforts, other indigenous companies like Indorama and Notore with a combined capacity of over 2.5 million tonnes per annum have tried to match the market demand, yet the country still faced a huge shortfall of fertiliser supply. Today, Nigeria is self-sufficient in the production of urea, and we are also the leading producer of urea in the African continent,” he added.

The Minister of Agriculture, Dr. Mahmood Abubakar called on other investors to rise up to the occasion, noting that the Dangote Fertiliser would help to solve the problem of fertiliser shortages in Nigeria. He also assured that the government would enforce standard in the industry to maintain quality.

Lagos state governor, Mr. Babajide Sanwo-Olu commended Alhaji Aliko Dangote for always blazing the trail, noting that Lagos state government was happy to be hosting many of his businesses. He added that, “with the largest fertiliser plant in Africa in Lagos and the largest refinery in the world coming soon, there is nobody that would not be proud of Alhaji Dangote.”

The governor stated that Nigeria would quickly forget its many economic problems if another entrepreneur like Dangote could be replicated in other regions of Nigeria.

Sanwo-Olu also said that private investors could always count on Lagos State government when it comes to provision of an enabling environment to make businesses thrive. 

The post President Buhari Impressed With Dangote’s $2.5bn Fertiliser Plant appeared first on Business News in Nigeria.

To commemorate the annual global International Women’s Day (IWD), Dangote Group, through the Dangote Women’s Network (DWN) celebrated the various outstanding contributions of its female workforce while hosting all its members of staff across Africa to collectively mark the 2022 IWD celebration titled: “BreakTheBias”.

International Women’s Day, celebrated yearly on March 8 since 1911, has become a day set aside for companies to celebrate the social, economic, cultural and political achievements of women, while speaking out against inequities including gender-based violence and workplace discrimination.

Speaking at the opening of the virtual event, President/CE of Dangote Group, Aliko Dangote described “BreakTheBias” as “the start for a gender-equal world. A world free of bias, stereotypes, and discrimination; one that is diverse, equitable, and inclusive.”

According to him, “#BreakTheBias is not a slogan but a continuous fight to eliminate gender discrimination, social, cultural, religious or other forms of deliberate or unconscious bias stereotypes that hinder women from fulfilling their potential.”

Dwelling on his personal experience, Dangote revealed, “I personally understand the value of women and the power of having them involved in all aspects of business, including the boardroom. I have always been a champion of women’s empowerment. I am sure that it stems from being raised by a strong Mother, who taught me about business and philanthropy.

“I am also the father of three women, and grandfather to four girls. I have seen what they can do when given equal access to opportunities. My three daughters, Mariya, Halima and Fatima are all senior executives at the Dangote Group, and I can tell you they are critical to the success of our business. They have challenged, pushed, and made me a better leader. They are not alone in the Dangote Group. We have a strong bench of women leaders across the Group. Our focus is on skills, productivity, and ability to deliver on given assignments. I am confident that they will help drive the organisation through its next stage of growth.”

He disclosed that the company is working hard to completely eliminate any bias against women. “Within the Dangote group, I am proud to say that women are taking up topmost responsibilities and are doing very well in contributing to the rapid growth and expansion of our conglomerate across Africa. I will continue to support women and depend on their tremendous potential to transform the organisation and societies in positive ways”, he said.

Group Managing Director, Dangote Industries Limited, Mr. Olakunle Alake, said the theme of this year’s IWD celebration “BreakTheBias” is an inspiration to women and young girls all over the world.

According to him, equal education opportunities remain one of the foundational steps in promoting a world free of bias. “The female child should be given equal opportunity while growing up and made to understand that she is not inferior to the male child. She should be encouraged to always put her best foot forward, and that there is no barrier against her ambitions,” he said.

Non-Executive Director, Dangote Cement and Matron, Dangote Women’s Network, Halima Aliko-Dangote, said the International Women’s Day provides a useful opportunity to reinforce the fact that everyone has a role to play in forging a more gender-balanced world.

Halima said, in its effort to ensure women empowerment within and outside the organisation, the company launched the Dangote Women’s Network in 2016 to support the growth of women in the organisation and to serve as a place for them to share experiences and interact.

According to her, since the establishment of the network, the group has recorded tremendous growth in just six years. “From empowering and collaborating as a community (charity walk where we raised over N20 million for Internally Displaced Persons in Borno State), donating food, clothes and sanitary products to the less privileged across our Pan African countries (including Nigeria), to changes in policies that protect, support and enable our women to thrive,” she added.

Moderating a special panel session with focus on gender bias and possible solution to it, Managing Director, Aliko Dangote Foundation, Zouera Youssoufou said Dangote Group has increased its female representation on boards, executive committees, and senior management and is committed to have one of the most gender-balanced senior management team among all its businesses.

Speaking during the panel session, Managing Director and Head of Sub-Saharan Africa (Ex-RSA), Bank of America Merrill Lynch, Mrs. Yvonne Ike Fasinro, commended the Dangote Group for its efforts in having a more gender-inclusive workplace. She stressed the need for women to develop confidence in themselves and be ready to speak out when necessary.

Fasinro also emphasised the need for women in senior cadre to pull others along in the development of their career path.

Also, Special Advisor to President Muhammadu Buhari on Social Investments, Hajiya Maryam Wali-Uwais urged women to pay special attention to their mental health. “Mental health is a serious concern for all women who strive to be at the top of their game in an organisation. Trying to balance family and work may have serious impact on their mental health. They need to create time for leisure as a way of protecting their mental health.”

Senior Advisor to the Dangote Group President, Fatima Wali Abdurrahman, said that Dangote Group has done so much in breaking bias, and urged women to support each other in career development.

Speaking on her experience over the years in her career, Group Executive Director at the Dangote Group, Dr. Adenike Fajemirokun, urged women to eliminate bias against one another. She said that most bias that she has encountered so far came from fellow women, therefore the need for women to support one another.

Speaking at the end of the event, Group Chief Human Resources Officer at Dangote Industries Limited, who is also an Advisory Board Member of Dangote Women’s Network, Mrs. Nglan Niat said the Human Resource Department of the company is involved in raising greater awareness on gender issues.

She stated, “We are reviewing our retention and succession plans, ensuring we include our women in our talent pool and in addressing the skills gap to provide more opportunities.” She commended the speakers and colleagues who made out time to attend the event to commemorate the celebration of the International Women’s Day.

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Very few leaders will ever have the geographical and spiritual reach of influence that Pastor E.A. Adeboye has. He is neither the Pope nor the leader of the free world, but he heads a denomination that since his assumption of office as its General Overseer, has established churches in over 198 countries and territories of the world.

He was, as early as 2008, listed by Newsweek, as one of the 100 most influential people in the world. Earlier in 1998, the Holy Ghost Congress of the Redeemed Christian Church of God in Lekki, Lagos, was reported to be one of the largest Christian gatherings ever and every year the RCCG Convention and Congresses have live crowds breaking that record. Through the years, miracles of every kind have been commonplace in his ministry.

But the moral of the story is not in these achievements but in how his behaviour has remained unaffected by them.
It was Mummy G.O. who said to us once, “see how God uses your father as a smokescreen to do the miracles He wants to do”.

This realization, that “apart from Him, you can do nothing” and that “ no one can receive anything that is not given to him by God”, probably explains why a man so spiritually and intellectually gifted, so revered, so respected by the high and low alike, would still be so genuinely humble, so self-effacing and so unfailingly respectful even of his subordinates.

His impeccable integrity, his measured speech and action at all times, his life of many challenges, many wars, his courage, his unshaken faith, his deep love for God, through phenomenal achievements and numbing personal tragedy are altogether the most persuasive evangelical message to all even those of other faiths, of the grace and mercy of God in the life of the Saved.

For us, we are extremely proud that this man of extraordinary faith, courage and humility is one we can call our daddy.

Daddy, Happy 80th Birthday! As your days, so shall your strength, wisdom and favour with God in Jesus’ name. Amen

The post A Tribute To Pastor E.A. Adeboye At 80 appeared first on Business News in Nigeria.

The CDP is an international non-profit organization based in the United Kingdom that runs the global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts.

CDP explained that it raised the rating as a result of the Company’s commitment to climate change. The upgrade clearly illustrates the progress made by Dangote Cement regarding its commitment to transparency and mitigating its carbon dioxide footprint. This is one of the highest ratings in Sub-Saharan Africa and the only Nigeria company rated by CDP.

Chief Executive Officer (CEO) of Dangote Cement Plc, Michel Puchercos, in his response to the development said: “We are pleased to be recognised for the progress that we are making in our environmental disclosures and sustainability. The CDP rating upgrade clearly illustrates the steps that Dangote Cement is taking in its commitment to transparency on climate and environmental issues.

According to him, the cement company is focused on making a positive difference, which is “why sustainability is at the core of every part of our business. In addition, our Alternative Fuel Project is at an advanced stage that aims to leverage waste management solutions, reduce CO2 emissions, and source material locally. This year, we co-processed 89,000 tons of waste representing a 60% increase over 2020.”

He added that Dangote Cement is focused on sound governance, saying, “we are leading the way with our commitment to sustainability and best practices.  We are driven by the goal of achieving the highest level of governance and building a sustainable brand for all stakeholders.  Transparency and consistency are at the core of every part of our business culture.”

In its financials for full-year ended December 31, 2021, Group sales volume for Dangote Cement stood at 29.3Mt, with Nigeria accounting for 18.61Mt while operations in other countries did 10.86Mt.

Group revenue was N1,383.6 billion for the full year, made up of N993.34 billion from Nigeria while revenue from across African plants was N397.32 billion, in contrast to the group revenue of N1,034.20 billion in 2020 which constituted N719.95 billion from Nigeria and N318.68 billion from other African operations. Dangote Cement recorded a gross profit of N538.37 billion and an after-tax profit of N364.44 billion. The directors have proposed a dividend of ₦20.00 per share.

Dangote Cement became the first Nigerian listed company to report its financial results using XBRL format with the IFRS taxonomy. Adopting XBRL reporting format will strongly benefit Dangote Cement’s existing and potential investors. It represents another step in continuing efforts to modernize and enhance the transparency of, and access to, companies’ disclosures.

Dangote Cement Plc is sub-Saharan Africa’s largest cement producer with an installed capacity of 45.6Mta across 10 African countries and operates a fully integrated “quarry-to-customer” business with activities covering manufacturing, sales, and distribution of cement.

Dangote Cement has a long-term credit rating of AA+ by GCR and Aa2.ng by Moody’s due to its market-leading position, significant operational scale, and strong financial profile evidenced by the company’s robust operating and net profit margins relative to regional and global peers, adequate working capital, satisfactory cash flow, and low leverage.

Dangote Cement is a subsidiary of Dangote Industries Limited, a diversified and fully integrated conglomerate as well as a leading brand across Africa in businesses such as cement, sugar, salt, beverages, and real estate, with new multi-billion-dollar projects underway in the oil and gas, petrochemical, fertiliser and agricultural sectors

The post Dangote Cement’s Commitment To Climate Change Yields Dividend appeared first on Business News in Nigeria.

In IMF’s Executive Board 2021 Article IV Consultation with Nigeria released recently, the global organisation added that Nigeria’s ratification of the African Continental Free Trade Agreement could also yield a positive boost to the non-oil sector while oil production could rebound, supported by the more generous terms of the Petroleum Industry Act.

According to the IMF, Nigeria exited the recession in the fourth quarter of 2020 and its output rose by 4.1 per cent (y-o-y) in the third quarter, with broad-based growth except for the oil sector, which is facing security and technical challenges.

While growth was projected at 3 per cent for 2021, it stated that headline inflation rose sharply during the pandemic, reaching a peak of 18.2 per cent year-on-year (y-o-y) in March 2021, but has since declined to 15.6 per cent in December.

The institution attributed this to the new harvest season and opening of land borders, although it noted that the reported unemployment rates (end 2020) have yet to come down. It, however, confirmed that more recent COVID-19 monthly surveys have shown that employment was back at its pre-pandemic level.

“Despite the recovery in oil prices, the general government fiscal deficit is projected to widen in 2021 to 5.9 per cent of GDP, reflecting implicit fuel subsidies and higher security spending,” the Fund said. “Moreover, the consolidated government revenue-to-GDP ratio at 7.5 per cent remains among the lowest in the world.

“After registering a historic deficit in 2020, the current account improved in 2021, and gross FX reserves have improved, supported by the IMF’s SDR allocation and Eurobond placements in September 2021.

“Notwithstanding the authorities’ proactive approach to contain COVID-19 infection rates and fatalities and the recent growth improvement, socio-economic conditions remain a challenge. Levels of food insecurity have risen, and the poverty rate is estimated to have risen during the pandemic.”

The directors highlighted the urgency of fiscal consolidation to create policy space and reduce debt sustainability risks and called for significant domestic revenue mobilisation.

“They noted that exchange rate reforms should be accompanied by macroeconomic policies to contain inflation, structural reforms to improve transparency and governance, and clear communications regarding exchange rate policy.

“Directors considered it appropriate to maintain a supportive monetary policy in the near term, with continued vigilance against inflation and balance of payments risks. They encouraged the authorities to stand ready to adjust the monetary stance if inflationary pressures increase,” the consultation noted.

“Directors recommended strengthening the monetary operational framework over the medium term – focusing on the primacy of price stability – and scaling back the central bank’s quasi-fiscal operations. Directors welcomed the resilience of the banking sector and the planned expiration of pandemic-related support measures. They agreed that while the newly launched eNaira could help foster financial inclusion and improve the delivery of social assistance, close monitoring of associated risks will be important. They also encouraged further efforts to address deficiencies in the AML/CFT framework.

“Directors emphasised the need for bold reforms in the trade regime and agricultural sector, as well as investments, to promote diversification and job-rich growth and harness the gains from the African Continental Free Trade Agreement. Improvement in transparency and governance are also crucial for strengthening business confidence and public trust. Directors called for stronger efforts to improve the transparency of COVID-19 emergency spending,” the IMF added.

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The 15 CBU Chemical, Mechanical, Electrical and Mining-engineering students selected to participate in the programme were issued with a two-year contract.

Agrawal said the graduates would go through structured, but intense hands-on training to consolidate their academic knowledge. “On conclusion of their training, they will be absorbed in responsible positions in the company. The Graduate Engineer Trainee program is a key component of succession planning and building of talent pull at Dangote,” he added.

The first Program for GET”s was launched in 2016 culminating in some of the graduate engineers taking leadership positions at Dangote.

The CEO said the program had yielded positive results by exposing fresh graduates to industrial challenges while working under the guidance of experienced technocrats from diverse backgrounds.

Agrawal further alluded that, Dangote would continue to partner with other institutions of higher learning across the country as a way of supporting government efforts to develop a skilled workforce and betterment society.

And Dangote Plant Director Xavier Kennedy said this programme will expose the trainees to the practical part of the theory learnt in school. Meanwhile, a student representative, Harriet Likomeno thanked management at Dangote for according them an opportunity to be part of Africa’s largest cement manufacturing company. She promised that they will put in their level best to meet the aspirations of the company through the GET program.

The post Dangote Cement Zambia Inducts 15 Fresh Engineers appeared first on Business News in Nigeria.

The award was bestowed on him by the National President of the Chartered Institute of Logistics and Transport, Mrs. Mfon Ekong Usoro, during an official visit by executive members of the Institute and its Women in Logistics and Transports (WILAT) branch to Dangote at the Head Office of the Dangote Group in Ikoyi, Lagos, State.

While accepting the award, Dangote, who commended the efforts of the Institute’s top officials to improve the transport sector in Nigeria, also pledged to collaborate with the CILT in the areas of training and capacity building on transport, logistics and supply chain management issues.

He received the CILT award in the company of the Group Executive Director, Special Duties and Group Chief Risk Officer, Dangote Industries Limited, Dr. Nike Fajemirokun; Group Managing Director, Dangote Cement Plc, Mr. Michel Puchercos, and the Managing Director, Greenview Development/Port Operations, Mr. Akin Omole.

Members of the CILT delegation led by Mrs. Usoro included the National President Emeritus, Ibrahim Jibril; International Vice President, Dr. Usman Gidado; Founder WiLAT, Aisha Ali-Ibrahim; Vice President, East CILT, Peter Borlo; CMILT/Chairperson WILAT, Khadijat Ifelola Sheidu-Shabi; Vice President, ENL Consortium, Princess Vicky Haastrup; National Executive Director, Paul Ndibe; Director, CLTL, UNILAG, Prof. Iyiola Oni, and Chairperson, Next Generation, Jafaaru Bello.

Usoro, who presented the award to Dangote, said the delegation came to inform him about the change in baton in the Institute, and to renew the relationship between the CILT and corporate members. She noted the long relationship with the Dangote Group, which presently has 5 Fellows of the Institute; 5 Chartered members, 18 Members, and 47 affiliate Members of the CILT. The team also expressed condolence over the recent demise of the Group Vice President, Alhaji Sani Dangote.

Dangote, who welcomed the CILT team, noted the need for adequate infrastructure, transport and logistics to boost the economy. He noted that the Group can work together with the Institute in the areas of transport and logistics, with training for the customers of the Group.

Immediate past president of the CILT, Mr. Jibril, in a vote of thanks, commended Dangote for the good work being done by the group in creating wealth not only in Nigeria but in Africa. He also hailed the group for building capacity in logistics, transport and supply chain management in Nigeria.

According to him, “I have been with CILT Council for over one and a half decades and through this period I have come to realise the great work the President of the Dangote Group is doing and his supporting staff in the area of  development of capacity and skills acquisition in the logistics, transport and supply chain industry and this has gone a long way in professionalising the industry and has gone a long way in creating wealth and generating employment not only in Nigeria but the African region.

“This is a development that we have been keenly following and we are very much proud of what the Dangote Group is doing as led by the president himself. On that note, we appreciate all that he has done, we appreciate all that the Dangote Group is doing, and at the end of the day we believe that this is what Nigeria should benefit from”, he added

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