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	<title>Dangote Cement Archives - Business News in Nigeria</title>
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	<title>Dangote Cement Archives - Business News in Nigeria</title>
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		<title>Dangote Backs Tinubu&#8217;s CNG Drive, Invests Over $280m In Trucks, Infrastructure</title>
		<link>https://unmaskng.com/dangote-backs-tinubus-cng-drive-invests-over-280m-in-trucks-infrastructure/</link>
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		<pubDate>Mon, 28 Oct 2024 08:03:08 +0000</pubDate>
				<category><![CDATA[Corporate News]]></category>
		<category><![CDATA[Dangote Cement]]></category>
		<guid isPermaLink="false">https://unmaskng.com/?p=9669</guid>

					<description><![CDATA[<p>In a demonstration of its support for President Bola Ahmed Tinubu’s CNG Initiative, which aims to provide cheaper and cleaner fuelling alternatives for all Nigerians, Dangote Cement Plc has made significant investments exceeding $280 million in compressed natural gas (CNG) technology and infrastructure.&#160;&#160; President Tinubu, whose commitment to CNG deployment and clean energy is unmatched [&#8230;]</p>
<p>The post <a href="https://unmaskng.com/dangote-backs-tinubus-cng-drive-invests-over-280m-in-trucks-infrastructure/">Dangote Backs Tinubu&#8217;s CNG Drive, Invests Over $280m In Trucks, Infrastructure</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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<p>In a demonstration of its support for President Bola Ahmed Tinubu’s CNG Initiative, which aims to provide cheaper and cleaner fuelling alternatives for all Nigerians, Dangote Cement Plc has made significant investments exceeding $280 million in compressed natural gas (CNG) technology and infrastructure.&nbsp;&nbsp;</p>



<p>President Tinubu, whose commitment to CNG deployment and clean energy is unmatched in Africa, has maintained his administration&#8217;s drive to create a conducive environment for private sector investments and expand Nigeria&#8217;s CNG infrastructure to enhance energy efficiency and drive economic growth. As part of this initiative, he ordered the distribution of 1 million free CNG conversion kits for commercial vehicles involved in transporting people, food, and goods.&nbsp;</p>



<p>At a recent event, the President emphasised the urgent need for Nigeria to utilise its vast natural gas resources in the transportation sector. He stated that CNG transportation is an economic necessity for Nigeria, signalling a significant shift in the country’s approach to public transportation and energy use.</p>



<p>“Utilising natural gas to power Nigeria’s transportation industry is the next way to go,” he stated.&nbsp;</p>



<p>On its part, the Dangote Cement said the over $280m investment not only solidifies its leadership in the CNG sector but also reflects its dedication to mitigating climate change and supporting a transition to a low-carbon economy.</p>



<p>Arvind Pathak, the Group Managing Director of Dangote Cement Plc, said the investment aims to acquire 100% CNG trucks as part of a long-term plan to transition its entire fleet to CNG.&nbsp;&nbsp;</p>



<p>This move marks a significant milestone in Dangote’s clean energy transition, with the objective of operating most of its fleet on CNG by mid-2026. As at October, the company has received its first batch of 1,500 mono-fuel CNG trucks while expecting additional 1,600 CNG trucks; totalling 3,100 before the end of the year.&nbsp;</p>



<p>Pathak stated, &#8220;By mid- 2026, Dangote Cement aims to operate a fleet predominantly powered by CNG. To facilitate this transformation, we are investing in expanding our CNG fuelling infrastructure, ensuring that our growing fleet has reliable access to CNG as our fuel.&#8221; He said plans are afoot to aggressively pursue this timeline of deployment, beginning from the first quarter of 2025. &#8220;We are keeping our eyes on the ball to ensure that we do not miss our target dates of full compliance&#8221;, he added.&nbsp;</p>



<p>Pathak said that the company’s CNG infrastructure investments have positively influenced Nigeria’s transition to cleaner fuels. He added that the CNG station at Obajana, capable of refuelling over 3,000 trucks, exemplifies this commitment, with a second station currently under development in Ibese to further support fleet operations.&nbsp;</p>



<p>President/Chief Executive, Dangote Group, Aliko Dangote said the company’s investments in CNG are also in line with Nigeria’s Nationally Determined Contribution (NDC) under the Paris Agreement, which aims for net-zero emissions by 2060.&nbsp;&nbsp;</p>



<p>&#8220;In this pursuit of transition to clean energy, we are optimistic of a remarkable accomplishment by President Bola Ahmed Tinubu, as he has taken the lead in the nation&#8217;s drive towards energy efficiency. This presupposes private sector intervention to support this noble idea initiated by the President,&#8221; Dangote added.&nbsp;</p>



<p>He noted that the company’s early adoption of CNG has made it the largest operator of CNG trucks in Nigeria, emphasising that the initiative is a boost to President Tinubu’s quest towards enhancing the nation’s energy independence and contributing to a more secure energy future.</p>



<p>&nbsp; According to him: “We are now using CNG vehicles, especially with the new policy of the Federal Government, launched under the Renewed Hope Agenda by His Excellency, President Bola Ahmed Tinubu. We are committed to a cleaner and greener future.&#8221;</p>
<p>The post <a href="https://unmaskng.com/dangote-backs-tinubus-cng-drive-invests-over-280m-in-trucks-infrastructure/">Dangote Backs Tinubu&#8217;s CNG Drive, Invests Over $280m In Trucks, Infrastructure</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">9669</post-id>	</item>
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		<title>Customers, Distributors Hail Dangote for his Support, encouragement at Awards Night</title>
		<link>https://unmaskng.com/customers-distributors-hail-dangote-for-his-support-encouragement-at-awards-night/</link>
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		<pubDate>Sun, 28 Jan 2024 09:12:50 +0000</pubDate>
				<category><![CDATA[Corporate News]]></category>
		<category><![CDATA[Dangote Cement]]></category>
		<guid isPermaLink="false">https://unmaskng.com/?p=9523</guid>

					<description><![CDATA[<p>Customers and distributors of Dangote Cement Plc have hailed the magnanimity of the Founder and Chairman of the company and Africa’s largest conglomerate, Aliko Dangote. The customers described Dangote’s humaneness and philanthropy as unrivalled among his peers in the business community in Nigeria and Africa. Speaking on the sidelines of the 2023 Dangote Cement Customers [&#8230;]</p>
<p>The post <a href="https://unmaskng.com/customers-distributors-hail-dangote-for-his-support-encouragement-at-awards-night/">Customers, Distributors Hail Dangote for his Support, encouragement at Awards Night</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
]]></description>
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<p>Customers and distributors of Dangote Cement Plc have hailed the magnanimity of the Founder and Chairman of the company and Africa’s largest conglomerate, Aliko Dangote. The customers described Dangote’s humaneness and philanthropy as unrivalled among his peers in the business community in Nigeria and Africa.</p>



<p>Speaking on the sidelines of the 2023 Dangote Cement Customers Award and gala night held in Lagos weekend, the customers who came from various regions across the country described their business relationship with Dangote Cement Plc as the ‘best alliance’ with a partner who provides great opportunities for the growth of its partners.</p>



<p>At the glittery event, the distributors carted away handsome rewards for keeping faith with Dangote Cement and patronising its products.</p>



<figure class="wp-block-image size-large"><img fetchpriority="high" decoding="async" width="1024" height="655" src="https://unmaskng.com/wp-content/uploads/2024/01/DSC7814-1024x655.jpg" alt="" class="wp-image-9526" srcset="https://unmaskng.com/wp-content/uploads/2024/01/DSC7814-1024x655.jpg 1024w, https://unmaskng.com/wp-content/uploads/2024/01/DSC7814-300x192.jpg 300w, https://unmaskng.com/wp-content/uploads/2024/01/DSC7814-768x491.jpg 768w, https://unmaskng.com/wp-content/uploads/2024/01/DSC7814-1536x982.jpg 1536w, https://unmaskng.com/wp-content/uploads/2024/01/DSC7814-2048x1310.jpg 2048w, https://unmaskng.com/wp-content/uploads/2024/01/DSC7814-696x445.jpg 696w, https://unmaskng.com/wp-content/uploads/2024/01/DSC7814-1068x683.jpg 1068w, https://unmaskng.com/wp-content/uploads/2024/01/DSC7814-1920x1228.jpg 1920w, https://unmaskng.com/wp-content/uploads/2024/01/DSC7814-657x420.jpg 657w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>While both Kizz Daniel and Tuface Idibia were on standby to thrill and entertain the customers, prominent Nigerians were also in attendance to felicitate with Aliko Dangote and the Cement’s customers. Among top dignitaries in attendance were: Former Governor of Ekiti state, Dr. Kayode Fayemi, Executive Chairman of Geregu Power, Femi Otedola and the Former Minister of Industry, Trade &amp; Investment, Otunba Niyi Adebayo, among many others.</p>



<p>Kazab Heritage Limited won the overall Best Distributor of the Year award, while Gilbert Igweka Global Concept and Nwa Ado Resources Nigeria Limited occupied the second and third positions, nationally respectively. Winners in the regions include Twins Faja Enterprises as overall winner in the Lagos/Ogun region, while Nwa Ado Resources Nigeria Ltd, Abdullahi Fugu, Giwa Dynamics Ventures, and D.C. Okika Nigeria Limited were overall winners in the North Central, North East, North West, and South East regions respectively.</p>



<p>“For the past 20 years that I have been a distributor of Dangote Cement, my business has grown so big beyond our imagination”, Mr. Wale Fajana, the Chairman of Twins Faja Nigeria Ltd enthused. He explained that he started business with Dangote Cement way back in Apapa and ever since “Alhaji has ensured that my business with him grows. I credit him with my success today. Without his support to my business, I would not be where I am today.</p>



<p>&#8220;He (Dangote) also provides us with financial support in many forms to grow our business relationship with Dangote Cement. On a personal note, Alhaji Dangote has been very close to my family and his humanity second to none as he showers us with gifts to encourage the distributors performance yearly,” Fajana said.</p>



<p>Another distributor, Chief Lawrence Onyemelukwe, the managing director of Lafanex Nigeria Ltd, describes Aliko Dangote and Dangote Cement as “legendary”, adding that, &#8220;Alhaji has a large heart, and he has taught us how to do big business, with his support which has become a centre of our success story.”</p>



<p>Chief Onyemelukwe, who is a leading distributor in Asaba, Delta State explained that Dangote Cement has introduced different technology and automation into their business model that distributors have now adopted to improve their sales revenue. He described working with Dangote Cement over the decade as beneficial to him and all his customers.</p>



<p>Abdullahi Fugu of A.A Fugu &amp; Sons, who is based in Northeast Nigeria disclosed that he started in a small way with Dangote Cement, and added that with the personal touch of Dangote and the support of the company management, he has become a top distributor of the product. “Alhaji Dangote has a magic touch and his input has helped grow my business to become very big. Dangote Cement has provided platforms for the distributors to flourish and employ people,” Fugu added.</p>



<p>On his part, Chief Akukalia Igwebuike, the CEO of Nwa Ado Multi Biz, a top three cement distributor attributed his business success to the tremendous support of Dangote Cement management and particularly Aliko Dangote. He said Aliko Dangote took a special interest in his business growth and has never stopped looking out for him as he continues to excel in business. &#8220;All I have to say is &#8216;Thank you to Alhaji&#8217; for his support to my business. I promise to double my effort in 2024 and improve my number three position as a distributor of Dangote Cement”, he said.</p>



<p>In her own remarks, Mrs. Beatrice Chinwe Okika, the CEO of DC Okika Nigeria Ltd, a top distributor in the Southeast region of Nigeria says Dangote Cement is more than a business to her. “Right from when I lost my husband, Alhaji has never left me and my business. He has always shown concern for the family and the business. He has provided financial help in all forms to support the business and the family. I have enjoyed so much support I can’t even count.”</p>



<p>According to her, &#8220;Dangote Cement has continued to provide support to all distributors to ensure that the partnership works. May God bless him and continue guide his steps.”</p>



<p>Engr. Festus Abononkhua of Raybale Nigeria Ltd described Dangote Cement as the best trade partner. He said even though as an engineer he was initially ashamed to start out trading in cement, now he is immensely proud to be a distributor of Dangote Cement products. He added that today, with the support of Dangote Cement, the size of his business has grown tremendously in the South-south region of Nigeria.</p>
<p>The post <a href="https://unmaskng.com/customers-distributors-hail-dangote-for-his-support-encouragement-at-awards-night/">Customers, Distributors Hail Dangote for his Support, encouragement at Awards Night</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">9523</post-id>	</item>
		<item>
		<title>Dangote Cement Remits N412.9bn to Govt in 3 years</title>
		<link>https://unmaskng.com/dangote-cement-remits-n412-9bn-to-govt-in-3-years/</link>
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		<pubDate>Sun, 03 Sep 2023 22:13:14 +0000</pubDate>
				<category><![CDATA[Corporate News]]></category>
		<category><![CDATA[Dangote Cement]]></category>
		<guid isPermaLink="false">https://unmaskng.com/?p=9512</guid>

					<description><![CDATA[<p>Dangote Cement Plc, a subsidiary of Dangote Industries Limited, (DIL), paid a total of N412.9 billion into the coffers of the Federal Government as tax for 3 consecutive years. A total of N97.24 billion was paid by Dangote Cement in 2020, N173.93 billion in 2021 and N141.69 billion in 2022. This huge tax payment from [&#8230;]</p>
<p>The post <a href="https://unmaskng.com/dangote-cement-remits-n412-9bn-to-govt-in-3-years/">Dangote Cement Remits N412.9bn to Govt in 3 years</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
]]></description>
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<p>Dangote Cement Plc, a subsidiary of Dangote Industries Limited, (DIL), paid a total of N412.9 billion into the coffers of the Federal Government as tax for 3 consecutive years. A total of N97.24 billion was paid by Dangote Cement in 2020, N173.93 billion in 2021 and N141.69 billion in 2022.</p>



<p>This huge tax payment from only one of the conglomerate’s subsidiaries, re-affirms Aliko Dangote’s position that prompt and accurate tax payment is a duty for everyone who wishes to witness real growth and development. He posited that government&nbsp;cannot offer social services to the citizens without tax collection.</p>



<p>Dangote also advised the government to automate the tax system in the county, while commending the inauguration of&nbsp;the Presidential Committee on Fiscal Policy and Tax Reforms</p>



<p>“Maybe they should look at automating the tax system, just like what they did in India. If you go to India today, the country collects at least $1 trillion in various taxes. On petroleum products alone, India makes $100 billion yearly, because they charge 100 per cent on petroleum products. So, what I am suggesting is that people should pay tax and if you pay, you demand services from government. I think it is a social contract.</p>



<p>“Once people start seeing that government is using the money to do infrastructure, fund education, healthcare, whereby the citizens don’t need to go out to India or other countries for medical attention, then people would settle down and start paying taxes,” the renowned entrepreneur added.</p>



<p>Meanwhile, other&nbsp;listed companies of&nbsp;Dangote&nbsp;Industries Ltd, also paid huge taxes to the Federal Government during the said period. Both Dangote Sugar Refinery Plc and NASCON Allied Industries Plc are listed on the Nigeria Exchange Limited. &nbsp;&nbsp;</p>



<p>Analysis of the yearly annual reports of Dangote’s three listed companies indicated that they paid N114.31 billion as tax in 2020; N187.17 billion in 2021 and N172.15 billion in 2022.</p>



<p>During the three years, Dangote Cement paid a total of N412.86 billion as taxes, Dangote Sugar Refinery paid N55.38 billion, while NASCON Allied Industries paid N5.39 billion.</p>



<p>A total of N97.24 billion was paid by Dangote Cement in 2020, N173.93 billion in 2021 and N141.69 billion in 2022. Dangote Sugar Refinery paid N15.85 billion in 2020, N11.97 billion in 2021 and N27.56 billion in 2022. For NASCON Allied Industries, it was N1.22 billion in 2020, N1.27 billion in 2021 and N2.9 billion in 2022.&nbsp;</p>



<p>The analysis indicated that companies from Dangote Group&nbsp;had&nbsp;remained major contributors&nbsp;to the nation’s economy&nbsp;with the volume of taxes paid in the period under review.&nbsp;The group&nbsp;has given Nigeria hope of earning income through economic diversification, implying that the nation can wean herself from dependence on export of crude oil as major source of government income.</p>



<p>Dangote Industries Limited is 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 multibillion-dollar projects underway in the oil and gas, petrochemical, fertiliser and agricultural sectors.</p>



<p>Dangote Cement Plc is Sub-Saharan Africa&#8217;s largest cement producer with an installed capacity of 51.6Mta capacity across 10 African countries. The company operates a fully integrated ‘quarry-to-customer’ business with activities covering manufacturing, sales and distribution of cement. It has a production capacity of 35.3Mta in its home market, Nigeria.</p>



<p>The Obajana plant in Kogi State, Nigeria, is the largest in Africa with 16.3Mta of capacity across four lines; the Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta, the Gboko plant in Benue state has 4Mta, while Okpella plant in Edo State has 3Mta.</p>



<p>Dangote Cement Plc has a long-term credit rating of AAA by GCR, AA by Fitch and Aa2.ng by Moody&#8217;s due to its market-leading position, significant operational scale, and strong financial profile evidenced by the company&#8217;s robust operating and net profit margins relative to regional and global peers, adequate working capital, good cash flow, and low leverage.</p>



<p>The excellent credit ratings are due to its leading market position, significant operational scale, strong financial performance profile demonstrated by its robust financial profile relative to regional and global peers, adequate working capital, strong cash generation, and low leverage.</p>



<p>Dangote Sugar is a leading brand that has made a remarkable impact on the Nigerian sugar sector.&nbsp;&nbsp;Dangote Sugar refining facility at Apapa is the largest in Sub-Saharan Africa, with 1.44MT per annum installed capacity.&nbsp;The company’s&nbsp;sugar backward integration projects located at Numan, in Adamawa state&nbsp;is focused on cultivation and milling of sugarcane to finished sugar.</p>
<p>The post <a href="https://unmaskng.com/dangote-cement-remits-n412-9bn-to-govt-in-3-years/">Dangote Cement Remits N412.9bn to Govt in 3 years</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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		<title>Dangote Cement To Pay About N340 billion Dividend On Friday, April 14th</title>
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		<pubDate>Thu, 23 Mar 2023 05:33:37 +0000</pubDate>
				<category><![CDATA[Corporate News]]></category>
		<category><![CDATA[Dangote Cement]]></category>
		<guid isPermaLink="false">https://unmaskng.com/?p=9455</guid>

					<description><![CDATA[<p>Management of the pan-African cement manufacturer, Dangote Cement Plc has revealed that once the shareholders at the AGM slated for April 13, 2023, approve the proposal, the shareholders whose names are registered in the Company&#8217;s Register of Members at the close of business on 30 March 2023 will be immediately paid the sum of about [&#8230;]</p>
<p>The post <a href="https://unmaskng.com/dangote-cement-to-pay-about-n340-billion-dividend-on-friday-april-14th/">Dangote Cement To Pay About N340 billion Dividend On Friday, April 14th</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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<p>Management of the pan-African cement manufacturer, Dangote Cement Plc has revealed that once the shareholders at the AGM slated for April 13, 2023, approve the proposal, the shareholders whose names are registered in the Company&#8217;s Register of Members at the close of business on 30 March 2023 will be immediately paid the sum of about N340 billion a day after the meeting.</p>



<p>In the notice of AGM, published in the Newspapers and signed by Dangote Cement’s Acting Company Secretary, Edward Imoedemhe, the company revealed that a list of unclaimed dividends is available on the Company&#8217;s website at <a rel="noreferrer noopener" href="https://eur03.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.dangotecement.com%2F&amp;data=05%7C01%7CTimilehin.Oyedare%40DANGOTE.COM%7C001be82e2dce4fb88b7908db2afc8fca%7C96c3451c0db84f1988af5cb06c0a43fe%7C0%7C0%7C638151036478012270%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=X2JmU8ZuzqXvsIDIY0DU9QJ0yq7t7MeuupQnVEvR8p0%3D&amp;reserved=0" target="_blank">www.dangotecement.com</a> and that Shareholders with unclaimed share certificates or unclaimed dividends should address their claims to the Registrars, Coronation Registrars Ltd, at <a rel="noreferrer noopener" href="mailto:info@coronationregistrars.com" target="_blank">info@coronationregistrars.com</a></p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="685" src="https://unmaskng.com/wp-content/uploads/2023/03/DSC_3187-1024x685.jpg" alt="Dangote Cement To Pay About N340 billion Dividend On Friday, April 14th" class="wp-image-9457" srcset="https://unmaskng.com/wp-content/uploads/2023/03/DSC_3187-1024x685.jpg 1024w, https://unmaskng.com/wp-content/uploads/2023/03/DSC_3187-300x201.jpg 300w, https://unmaskng.com/wp-content/uploads/2023/03/DSC_3187-768x514.jpg 768w, https://unmaskng.com/wp-content/uploads/2023/03/DSC_3187-696x465.jpg 696w, https://unmaskng.com/wp-content/uploads/2023/03/DSC_3187-1068x714.jpg 1068w, https://unmaskng.com/wp-content/uploads/2023/03/DSC_3187-628x420.jpg 628w, https://unmaskng.com/wp-content/uploads/2023/03/DSC_3187.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>The company also stated that it is giving notice to all shareholders to open bank accounts, stockbroking accounts and CSCS accounts for receiving dividend payments electronically and also that pursuant to the provision of Section 187 of CAMA 2020, the treasury shares are not entitled to dividend and voting rights.</p>



<p>The Cement company disclosed in the published Notice that, its ordinary business for the day will include: laying the Audited Financial Statements for the Year Ended 31 December 2022 together with the Reports of the Directors, Auditors and the Audit Committee thereon; declare a dividend; elect/re-elect Directors; authorise the Directors to fix the remuneration of the Auditors for the 2023 financial year; disclose the remuneration of Managers of the Company and also elect shareholders&#8217; representatives of the Statutory Audit Committee. The AGM will also consider and if thought fit,&nbsp; fix the remuneration of the Directors.</p>



<p>In the financial statements of the organisation for 2022, the gross earnings for the Group increased to N1.6 trillion from the N1.4 trillion recorded in the preceding year due to the higher revenue generated from cement and clinker sales, with a significant chunk coming from the domestic market. The company’s revenue also increased by 21 per cent to N1,205 billion as against N993 billion recorded for the preceding year.</p>



<p>While the group’s earnings per share increased by 5 per cent to N22.27 billion as against the preceding year’s N22.42 billion, the company’s earnings per share increased by 6 per cent to N23.87 billion as against N22.42 recorded for the preceding year.</p>
<p>The post <a href="https://unmaskng.com/dangote-cement-to-pay-about-n340-billion-dividend-on-friday-april-14th/">Dangote Cement To Pay About N340 billion Dividend On Friday, April 14th</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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		<title>Dangote Cement Shareholders Unanimously Approve 10% Share Buy-back Programme</title>
		<link>https://unmaskng.com/dangote-cement-shareholders-unanimously-approve-10-share-buy-back-programme/</link>
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		<pubDate>Wed, 14 Dec 2022 04:52:01 +0000</pubDate>
				<category><![CDATA[Corporate News]]></category>
		<category><![CDATA[Dangote Cement]]></category>
		<guid isPermaLink="false">https://unmaskng.com/?p=9386</guid>

					<description><![CDATA[<p>Shareholders of Dangote Cement, unanimously on Tuesday, December 13, 2022, authorised the Management of the company to undertake a share buyback of up to 10 percent of its issued shares, effective from the date of the resolution. The company had earlier indicated an interest in undergoing a share buyback programme, in respect of up to [&#8230;]</p>
<p>The post <a href="https://unmaskng.com/dangote-cement-shareholders-unanimously-approve-10-share-buy-back-programme/">Dangote Cement Shareholders Unanimously Approve 10% Share Buy-back Programme</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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<p>Shareholders of Dangote Cement, unanimously on Tuesday, December 13, 2022, authorised the Management of the company to undertake a share buyback of up to 10 percent of its issued shares, effective from the date of the resolution.</p>



<p>The company had earlier indicated an interest in undergoing a share buyback programme, in respect of up to 10 percent of its issued shares, for the purpose of improving the company’s return on equity and its shareholders&#8217; value, so as to facilitate the future long-term growth of the company.</p>



<p>The approval through voting, which was given at the company’s Extraordinary General Meeting, held in Lagos recorded a 100 percent approval from the shareholders, with many of them describing the exercise as very laudable and a win-win situation for them.</p>



<p>Among other resolutions, the shareholders authorised that the “Memorandum and Articles of Association of the company be amended (as applicable), upon completion of the share buyback, to reflect the company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the company.”</p>



<p>The Board was also authorised to ensure that the amendment of the Articles of Association of the company reflects the company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the company.</p>



<p>It would be recalled that the Shareholders, at the company’s recent 13th Annual General Meeting (AGM), also commended the Management of the company for an impressive performance despite the economic challenges in the year under review.</p>



<p>Unanimously, they approved N20 per share for the year ended December 31, 2021, as against the N16 paid in the preceding year. That represented a 25 per cent increase in dividend compared to the 2020 dividend of N16.00 per share, reinforcing the Company&#8217;s commitment to maximising shareholder value. They also applauded the company for its drive in reducing unclaimed dividends of the company.</p>



<p>Dangote Cement in the year under review achieved its highest profit before tax in its history at N538.4 billion. Also, the Company recorded Group volumes of 29.3Mta, up 13.8 per cent. Exceptional EBITDA of N684.6 billion was achieved, up by 43.2 percent owing to strong cost control measures.</p>



<p>Chairman of the company, Aliko Dangote, said that “Over the last decade, Dangote Cement has recorded exponential growth across all areas.” According to him, “Group volumes are now at almost 30Mta, our capacity has tripled to 51.6Mta and we export cement from five countries across Africa.”</p>



<p>“As the volatile global environment propels us into a new era of uncertainties, we are fortunate that the last two years have taught us resilience, adaptability, and grit. These values are what we need to face in unpredictable times in the future.</p>



<p>“Dangote Cement remains the leading cement company in Africa, well-positioned for a positive and sustainable future. We are resolute in transforming Africa while creating sustainable value for our stakeholders,” Dangote added.</p>
<p>The post <a href="https://unmaskng.com/dangote-cement-shareholders-unanimously-approve-10-share-buy-back-programme/">Dangote Cement Shareholders Unanimously Approve 10% Share Buy-back Programme</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">9386</post-id>	</item>
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		<title>Dangote Trains Traders On Financial Literacy</title>
		<link>https://unmaskng.com/dangote-trains-traders-on-financial-literacy/</link>
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		<pubDate>Mon, 07 Nov 2022 18:34:46 +0000</pubDate>
				<category><![CDATA[Corporate News]]></category>
		<category><![CDATA[Dangote Cement]]></category>
		<guid isPermaLink="false">https://unmaskng.com/?p=9356</guid>

					<description><![CDATA[<p>Dangote Cement has launched a circular economy programme, called “DangCircular”. The new initiative aims to promote recycling and reuse of scarce resources in society to reduce landfilling and create wealth as a contribution to environmental sustainability. DangCircular was rolled out during this year’s Dangote Sustainability Week, targeting students of Nigerian higher institutions. The company partnered with the [&#8230;]</p>
<p>The post <a href="https://unmaskng.com/dangote-trains-traders-on-financial-literacy/">Dangote Trains Traders On Financial Literacy</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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<p>Dang<strong>ote Cement</strong> has launched a circular economy programme, called “DangCircular”. The new initiative aims to promote recycling and reuse of scarce resources in society to reduce landfilling and create wealth as a contribution to environmental sustainability.</p>



<p>DangCircular was rolled out during this year’s Dangote Sustainability Week, targeting students of Nigerian higher institutions. The company partnered with the Yaba College of Technology, Lagos, and UNESCO-UNEVOC (UNESCO International Centre for Technical and Vocational Education and Training) in a competition tagged ‘Yaba Green Challenge’.</p>



<p>Dangote employee Volunteers and Executives graced the finale of the competition to witness the presentation of 10 sustainability innovations the students created from waste after a screening of over 30 entries.</p>



<p>Among the panel of judges were the academic staff of Yabatech, officials, and UNESCO UNEVOC, as well Dangote Cement Technical Director Mr. Duraisamy Anandam and General Manager Regional Sales, Mr. Johnson Olaniyi. The judges engaged finalists on their projects which include: 1) Mixed media painting from sawdust 2) Fungal growth medium from industrial wheat waste 3) Medicinal mushrooms from sawdust and water hyacinth. Others were mycelia blocks from spent mushroom substrate,&nbsp;</p>



<p>Wearable art from the aluminum beverage can pull tab wastes, and sculpture from metal scraps. The students also made a paving interlocking block project with plastics, Hollow sandcrete blocks from plastics, and a mixed media painting made with waste plastics and paper, as well as animal feed produced from water hyacinth.</p>



<p>The event began with a tour of the Yabatech art museum, a courtesy visit to the College Rector, and a donation of waste segregation bins made to the management of the school. At the finale of the Yaba Green Challenge competition which had over 300 staff and students, the Rector of the College Engr Obafemi Omokungbe endorsed the initiative, describing the partnership between Yabatech and Dangote as a very strategic and exciting one. He stated that “talks are ongoing to obtain patent rights for the innovations showcased at the event to share with the private sector for adoption”.</p>



<p>Leading the Dangote delegation was General Manager Sustainability, Dr. Igazeuma Okoroba expressed satisfaction at the exhibition. In her remarks, she stated that “the goal of DangCircular was to spur Nigeria’s transition to a circular economy and support wealth creation through waste.” She also encouraged the institution to carry out cutting-edge research for the economic growth of society.</p>



<p>The winner of the grand prize of the competition was Ms. Ajide Comfort of the Fashion Design Department. In a very emotional reaction, Ms. Comfort whose project was Wearable art from an aluminum beverage can pull-tab waste, expressed her gratitude to Dangote Cement and pledged to continue finding ways to integrate waste recycling in her designs.</p>



<p>In the same vein, the company implemented “The Obalende Smart Money Campaign”, a financial literacy awareness campaign, to help over 300 traders of the Obada Obalende market to gain insight into managing money and limited resources sustainably. The initiative was&nbsp;part of activities to mark Sustainability Week&nbsp;in Nigeria and Pan Africa.</p>



<p>Speaking on the&nbsp;financial literacy campaign, the Lead, Health, and Safety Mr. James Adenuga said the theme of the yearly programme: ‘People, Planet and Profit – The Dangote Way’ is driven by employee volunteers. In his remarks, he explained to the traders the meaning of sustainable development and why it was a topic of concern for traders. Sighting examples with relatable stories, the Head of Sustainability, Dr. Okoroba explained that “While seeking for their daily bread, it was important that the traders ensure that the needs of the present and future generations are not threatened by poor treatment of land, water, and natural resources available to us”.</p>



<p>Diversity and inclusion were other aspects Dangote Cement sought to make an impact on society during Sustainability Week as the Dangote volunteers engaged in a charity outreach targeting the Down syndrome community and the visually impaired.&nbsp;The campaign for the visually impaired was to commemorate White Cane Safety day, an annual event celebrated worldwide every 15<sup>th</sup>&nbsp;of October.</p>



<p>The Dangote volunteers visited the Women and Children with Disability Initiative (WCWDI) home for visually impaired children, interacting with the children. The company made donations of food items, beverages, and specialized educational materials for the blind including white canes, slates, and marbouqs. Following this, the team of volunteers conducted a sensitization walk of the neighbouring community to enlighten residents on the white cane as a right of passage for the visually impaired which should be respected.</p>



<p>In another outreach to the Down Syndrome Foundation Nigeria (DSFN) located at Iju Fagba, Lagos, the Volunteers toured the vocational centres where persons with Down syndrome were trained in life skills. The National President of the Downs syndrome Association, Mrs. Rose Mordi, noted that ‘Down syndrome is not a disease but a condition which can happen to anyone”. She also gave insight on the theme of Down Syndrome Awareness Month &#8211; “Nothing About Us Without Us”, acknowledging Dangote’s support and calling for other private sectors to follow in the same vein.</p>
<p>The post <a href="https://unmaskng.com/dangote-trains-traders-on-financial-literacy/">Dangote Trains Traders On Financial Literacy</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">9356</post-id>	</item>
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		<title>Q3: Dangote Increases Cement sales By 6.2%</title>
		<link>https://unmaskng.com/q3-dangote-increases-cement-sales-by-6-2/</link>
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		<pubDate>Mon, 31 Oct 2022 08:25:55 +0000</pubDate>
				<category><![CDATA[Corporate News]]></category>
		<category><![CDATA[Dangote Cement]]></category>
		<guid isPermaLink="false">https://unmaskng.com/?p=9352</guid>

					<description><![CDATA[<p>For the third quarter of 2022, the Management of Dangote Cement has recorded an increase in the overall volume of cement sales by 6.2 percent to 20.8metric tons. This was achieved despite the elevated inflation that is due to a very volatile global environment. To further increase the supply of cement across its operational base, [&#8230;]</p>
<p>The post <a href="https://unmaskng.com/q3-dangote-increases-cement-sales-by-6-2/">Q3: Dangote Increases Cement sales By 6.2%</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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<p>For the third quarter of 2022, the Management of Dangote Cement has recorded an increase in the overall volume of cement sales by 6.2 percent to 20.8metric tons. This was achieved despite the elevated inflation that is due to a very volatile global environment.</p>



<p>To further increase the supply of cement across its operational base, the company has also commissioned its power plant at Okpella and is progressing well to deploy grinding plants in Ghana and Cote d’Ivoire.</p>



<p>Chief Executive Officer of Dangote Cement, Michel Puchercos, who disclosed this while presenting the third quarter results to the Nigerian Stock Exchange, over the weekend, further explained that “To mitigate the impact of the significant increase in energy and AGO costs, we are strengthening our efforts to ramp up the usage of alternative fuels. So far this year, we have co-processed 101,553 tonnes of waste representing a 77% increase over 9M 2021. We are on track to commission our Alternative Fuel feed system at Obajana lines I and V, and Ibese line II in November. In addition, we are ramping up our investment in Compressed Natural Gas (CNG), to reduce our AGO usage”</p>



<p>To that end, he explained that the company recorded an increase in revenue&nbsp;<em>of ₦1,177.3B, up 15.2% compared to last year, and Group EBITDA of ₦515.9B, up 0.2% with an EBITDA margin of 43.8%”</em></p>



<p>Dangote Cement, it would be recalled is Africa&#8217;s leading cement producer with nearly 51.6Mta capacity across Africa. A fully integrated quarry-to-customer producer, it has a production capacity of 35.25Mta in its home market, Nigeria.&nbsp;</p>



<p>Obajana plant in Kogi state, Nigeria, is the largest in Africa with 16.25Mta of capacity across five lines while the Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta.&nbsp; The Gboko plant in Benue state has 4Mta while the Okpella plant in Edo state has 3Mta.&nbsp;</p>



<p>Through recent investments, Dangote Cement has eliminated Nigeria&#8217;s dependence on imported cement and has transformed the nation into an exporter of cement serving neighbouring countries.&nbsp;</p>
<p>The post <a href="https://unmaskng.com/q3-dangote-increases-cement-sales-by-6-2/">Q3: Dangote Increases Cement sales By 6.2%</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">9352</post-id>	</item>
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		<title>Dangote Not Involved In Kogi Assembly Fire Outbreak</title>
		<link>https://unmaskng.com/dangote-not-involved-in-kogi-assembly-fire-outbreak/</link>
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		<pubDate>Mon, 10 Oct 2022 17:11:24 +0000</pubDate>
				<category><![CDATA[Sponsored news]]></category>
		<category><![CDATA[Dangote Cement]]></category>
		<guid isPermaLink="false">https://unmaskng.com/?p=9332</guid>

					<description><![CDATA[<p>Our attention has been drawn to a circulating Press Statement issued by the Kogi State Government, wherein the Dangote Group was accused of allegedly sponsoring arsonists to set the Kogi State House of Assembly on fire in the early hours of Monday, October 10, 2022. The statement titled,&#160;‘Obajana: Desperation sets in as imported hoodlums burn [&#8230;]</p>
<p>The post <a href="https://unmaskng.com/dangote-not-involved-in-kogi-assembly-fire-outbreak/">Dangote Not Involved In Kogi Assembly Fire Outbreak</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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<p>Our attention has been drawn to a circulating Press Statement issued by the Kogi State Government, wherein the Dangote Group was accused of allegedly sponsoring arsonists to set the Kogi State House of Assembly on fire in the early hours of Monday, October 10, 2022.</p>



<p>The statement titled,&nbsp;<strong><em>‘Obajana: Desperation sets in as imported hoodlums burn down Kogi Assembly’</em></strong>, 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.”</p>



<p>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.</p>



<p>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.</p>



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



<p>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.</p>
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		<title>Shareholders Knock Kogi Govt, Say Action on Dangote Cement Is Dangerous For Investment</title>
		<link>https://unmaskng.com/shareholders-knock-kogi-govt-say-action-on-dangote-cement-is-dangerous-for-investment/</link>
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		<pubDate>Mon, 10 Oct 2022 08:10:52 +0000</pubDate>
				<category><![CDATA[Corporate News]]></category>
		<category><![CDATA[Dangote Cement]]></category>
		<guid isPermaLink="false">https://unmaskng.com/?p=9328</guid>

					<description><![CDATA[<p>Group of Shareholders Associations in Nigeria have urged the Federal Government to urgently intervene and prevail on the government of Kogi State to stop further harassment of investors in Kogi State. They described as barbaric the use of thugs to embarrass investors, such as meted out on Dangote cement and other companies located in Kogi [&#8230;]</p>
<p>The post <a href="https://unmaskng.com/shareholders-knock-kogi-govt-say-action-on-dangote-cement-is-dangerous-for-investment/">Shareholders Knock Kogi Govt, Say Action on Dangote Cement Is Dangerous For Investment</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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<p>Group of Shareholders Associations in Nigeria have urged the Federal Government to urgently intervene and prevail on the government of Kogi State to stop further harassment of investors in Kogi State.</p>



<p>They described as barbaric the use of thugs to embarrass investors, such as meted out on Dangote cement and other companies located in Kogi State, noting that such unsavoury development will strongly discourage both local and foreign investments into the country.</p>



<p>It would be recalled that the Government of Kogi State last week, at the instance of the state governor, Yahaya Bello, invaded Dangote Cement, Obajana plant with over 500 armed members of the state’s security outfit, the Vigilantes, shot 27 staff and wounded several others.</p>



<p>President of the Association for the Advancement of the Rights of Shareholders, Dr. Umar Faruk, while speaking on the development criticised the State Government for being so insensitive to its populace, thousands of whom are depending on the Dangote Obajana plant for their means of livelihood. He said it is unfortunate that someone who has championed investment, worth billions of Naira into a state in Nigeria, is being treated this way.</p>



<p>He called on the Federal Government to, as a matter of urgency, caution the Governor of Kogi State to be more civilized and professional in its dealing with Investors in the State.&nbsp;According to him: “Why should the governor of a state in Nigeria, mobilized vigilantes to seal a publicly quoted company? The same Governor did exactly the same thing to First Bank, making the bank close some of its branches in the state. Is that not executive rascality, using the state assembly to commit such an atrocious act?</p>



<p>“Federal Government should swing into action by protecting investors, else, the efforts being made to attract both foreign and local investors will come to naught. I hope the state realizes that Dangote Cement has foreign shareholders. What impression do you want these people to have of our government? I also urge the Federal Government to fish out those thugs, used by the State, for prosecution, so as to serve as a deterrent to others…This action will lead to loss of revenue, even for the Government, in terms of taxes, and erode the shareholder’s value.”</p>



<p>In the same vein,&nbsp;founder of the Independent Shareholders Association of Nigeria (ISAN) and President of Boys Brigade Nigeria (BBN), Sir&nbsp;Sunny Nwosu said a reasonable state government would have gone to court against any publicly quoted company rather than resort to a barbaric and ruthless method of chasing workers with guns and cutlass in the civilized age.</p>



<p>“What the Kogi State Government did, honestly was very bad and disappointing. How can a state use vigilante with guns and cutlasses against a company that is feeding thousands of its people? A reasonable government should have gone to Court and not taken laws into its hands.</p>



<p>“This action is bad and will smear the image of both the Federal and State government. It will also affect the ranking of ease of doing business in Nigeria. Kogi is blessed with so many natural resources, but with the attitude of this government, I doubt if any reasonable investor, either local or foreign, will want to do anything with the state anymore”</p>



<p>The President, Pragmatic Shareholders Association, Mrs. Bisi Bakare&nbsp;said: “As an investor, we are not happy about the way things are going. If the State has problems with Dangote Cement on tax issues or any issue at all, there are a far better-civilized ways of handling it than sealing a factory that is contributing more than 30 percent of the cement Nigerians are consuming.</p>



<p>“The governor should realize that his position is transient and that the people of his state, whom he has deprived their means of livelihood will always remember him for bad! Can you imagine the number of people that will be out of jobs and the huge revenue loss to the government, the company, and us, the shareholders? The state, to me, has done a very grave mistake and the earlier the company is re-opened the better.”</p>



<p>Recalled that&nbsp;the Organised Private Sector (OPS) operators under the aegis of the National Association of Chambers of Commerce, Industries, Mines and Agriculture (NACCIMA) have lent its voice to the ongoing spat between Dangote Cement and Kogi state government which culminated into the closure of the Obajana plant of the Cement company.&nbsp;</p>



<p>NACCIMA expressed regret that the issues between the company and the state over tax disputes ought not to have led to sealing of the company but should have been resolved in a conciliatory and amicable atmosphere.</p>



<p>The body, in a statement signed by its Director-General, Olusola Obadimu, and issued in Lagos, said the state government should have trodden a path of caution and called for the immediate reopening of the factory for normal production activities to resume.&nbsp;</p>



<p>Obadimu stated that NACCIMA’s position was based on some key considerations bordering on the impact of the factory’s closure on the economy and thousands of people whose means of livelihood depend on the production activities of the factory.&nbsp;</p>



<p>“It is vital to note that it is a huge production plant that supplies key domestic input (cement) into the economy and employs hundreds of thousands of Nigerians, directly and indirectly. This is aside from its substantial budget for corporate social responsibility outside of taxes.&nbsp;</p>



<p>“Shutting off the factory does not necessarily help the controversial issue of compliance on tax remittable to Kogi state government. Rather a continuous operation of the plant would more likely facilitate a faster resolution of the dispute,” he said.&nbsp;</p>



<p>The NACCIMA boss then urged that the factory be reopened as quickly as possible to enable it to continue its operation and fulfil its necessary responsibilities, not just on tax obligations, but also keep the hundreds of thousands of Nigerians in its direct and indirect employment dutifully engaged; while sustaining its crucial services not just to the people and government of Kogi State but Nigeria in general.&nbsp;</p>
<p>The post <a href="https://unmaskng.com/shareholders-knock-kogi-govt-say-action-on-dangote-cement-is-dangerous-for-investment/">Shareholders Knock Kogi Govt, Say Action on Dangote Cement Is Dangerous For Investment</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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		<title>How Kogi Govt vigilantes Inflict Enormous Damage On Dangote Cement</title>
		<link>https://unmaskng.com/how-kogi-govt-vigilantes-inflict-enormous-damage-on-dangote-cement/</link>
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		<pubDate>Sat, 08 Oct 2022 16:46:19 +0000</pubDate>
				<category><![CDATA[Corporate News]]></category>
		<category><![CDATA[Dangote Cement]]></category>
		<category><![CDATA[Dangote unmaskng]]></category>
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					<description><![CDATA[<p>Destruction of the company’s assets wounded staff from gunshots, and violation of the fundamental human rights of staff and commuters are some of the fallouts from the invasion of the Dangote Cement Plc by Governor Yahyah Bello’s extra-judicial forces popularly referred to as ‘Government Vigilantes or Government Hunters.’&#160; Over 500 Government Vigilantes invaded the Dangote [&#8230;]</p>
<p>The post <a href="https://unmaskng.com/how-kogi-govt-vigilantes-inflict-enormous-damage-on-dangote-cement/">How Kogi Govt vigilantes Inflict Enormous Damage On Dangote Cement</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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<p>Destruction of the company’s assets wounded staff from gunshots, and violation of the fundamental human rights of staff and commuters are some of the fallouts from the invasion of the Dangote Cement Plc by Governor Yahyah Bello’s extra-judicial forces popularly referred to as ‘Government Vigilantes or Government Hunters.’&nbsp;</p>



<p>Over 500 Government Vigilantes invaded the Dangote Cement Plant located at Obajana on Wednesday at the behest of the State Governor and forcefully shut down its operations.&nbsp;</p>



<p>Cement trucks were also burnt, and many others were vandalized, as they forcefully hijacked Dangote buses and vans.&nbsp;</p>



<p>Market and business activities have been brought to a standstill since the attack was launched.&nbsp;&nbsp;</p>



<p>“No fewer than 27 Dangote staff are currently in bad conditions after they were shot at by the invaders,” a statement from the company said. </p>



<figure class="wp-block-image size-large"><img decoding="async" width="768" height="1024" src="https://unmaskng.com/wp-content/uploads/2022/10/IMG_20221006_110212_841-768x1024.jpg" alt="How Kogi Govt vigilantes Inflict Enormous Damage On Dangote Cement" class="wp-image-9319" srcset="https://unmaskng.com/wp-content/uploads/2022/10/IMG_20221006_110212_841-768x1024.jpg 768w, https://unmaskng.com/wp-content/uploads/2022/10/IMG_20221006_110212_841-225x300.jpg 225w, https://unmaskng.com/wp-content/uploads/2022/10/IMG_20221006_110212_841-1152x1536.jpg 1152w, https://unmaskng.com/wp-content/uploads/2022/10/IMG_20221006_110212_841-1536x2048.jpg 1536w, https://unmaskng.com/wp-content/uploads/2022/10/IMG_20221006_110212_841-696x928.jpg 696w, https://unmaskng.com/wp-content/uploads/2022/10/IMG_20221006_110212_841-scaled.jpg 1920w" sizes="(max-width: 768px) 100vw, 768px" /></figure>



<p>The control rooms were forcefully shut down and equipment whose monetary value have not been computed was vandalized.&nbsp;Communication cords were also severed to bring production to an abrupt halt.&nbsp;&nbsp;</p>



<p>The marauding invaders also blocked the roads, distorted vehicular movement, and restrict the movement of people all around Obajana.&nbsp;</p>



<p>“Since the criminal attack, our vehicles carrying diesel have been attacked along Anyigba road,” the statement from the company said.&nbsp;</p>



<p>The victims of the Government sanctioned invasion are currently admitted to the emergency section of the Kogi State Specialist Hospital in Lokoja.&nbsp;</p>



<p>Mr. Tijani Mukhtari, 45, who was shot severally in the lower abdomen and in other parts by the invading Government’s thugs, is currently battling for his life, as health workers who were seen attending to him said he was slated for emergency surgery.&nbsp;</p>



<p>Mr. Mukhtari was having difficulty breathing when this reporter visited him, as he was experiencing extreme pain from the bullets lodged in his body.&nbsp;</p>



<p>In the same vein, Aminu Sarki, 43, a fleet officer at the Transport section of the Dangote Cement Plant, who was shot in the leg, condemned the act as illegal and criminal in nature.&nbsp;</p>



<p>Narrating his ordeal, Mr. Sarki said he was inside his office when a strayed bullet pierced through and hit him on the leg.&nbsp;</p>



<p>He said: “Because of loud gunshots by the governor’s boys, I was just hiding inside our office at the PTI when the bullets hit me and got lodged inside my legs.”&nbsp;</p>



<p>Mr. Sarki called on the Federal Government to intervene quickly and help stop the excesses by the Kogi State Governor and his thugs.&nbsp;</p>



<p>Narrating his tribulation, 21-year-old Isyaku Adamu, one of the victims who was also shot, described the invasion as barbaric and nasty.&nbsp;</p>



<p>He called on both the company and the government to resolve the conflict in the interest of the masses who will be most affected.&nbsp;</p>



<p>Most market men and women who spoke to this reporter said the invasion by the government has not only affected the company, the markets have virtually been closed down too because there were no customers.&nbsp;</p>



<p>Peter Dare, a businessman at the Obajana main market described the situation as worrisome.&nbsp;He said thousands of people will be impoverished if the company is not opened this week.&nbsp;</p>



<p>Madam Esther, a tomato seller, wondered why the government was insensitive to the plight of the masses, describing the government as the worst in the history of Kogi State.&nbsp;&nbsp;</p>



<p>“The governor will not give us the job. Now that we are doing petty businesses, they are closing down the company that is helping us,” she retorted.</p>
<p>The post <a href="https://unmaskng.com/how-kogi-govt-vigilantes-inflict-enormous-damage-on-dangote-cement/">How Kogi Govt vigilantes Inflict Enormous Damage On Dangote Cement</a> appeared first on <a href="https://unmaskng.com">Business News in Nigeria</a>.</p>
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