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Dangote: We’re Placing Nigeria on Global Map of Sugar Producers

  • Sugar to create 150,000 jobs
  • 77 distributors, 54 winners rewarded

 Seventy-seven distributors bagged awards at the Dangote Customers Celebration and Food Distributors’ Award Night, organised by Dangote Foods, to appreciate distributors for their patronage in 2018. The awards were also accompanied by all-expense-paid trips to Dubai for hundreds of customers and distributors of the firm, a statement noted on Tuesday. It said 54 winners emerged from the geopolitical zones while the balance was in the other and national categories. “Alhaji Ali Balarabe of Balarabe & Sons emerged the overall best performing customer in the national category for the second consecutive time,” the statement read in part. The Chairman, NASCON Allied Industries, Mrs. Yemisi Ayeni, was quoted as saying that the event was the most important part of the firm’s business. She said the recognition of the symbiotic partnership between the firm and its clients formed the theme of the award ceremony; ‘Better, Stronger. Together.’ The President and Chief Executive, Dangote Industries Limited, Aliko Dangote, said the award was to appreciate customers and distributors who, through their dogged and persistent efforts, made Dangote Foods products a household name in Nigeria. He said, “You are all aware that we are celebrating 2018 against all odds. Our food businesses recorded mixed results in the year with NASCON growing while Dangote Sugar Refinery and Dangote Flour Mill had a very difficult year. Fluctuations in performance are known to occur in the life of businesses but the greater part is that you persevered with us. My special commendation goes to Dangote Sugar and Pasta customers who, despite the price challenges posed by influx of unlicensed and substandard grey imports, stood by us. We have remained the dominant brand in most of the sectors where we play in the food sector, and we are delighted to have you as our partners through thick and thin.”

THE PUNCH PAGE 35, Wednesday, January 30, 2019


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Dangote Sugar Record Higher Yields Compared To Peers

Investors in consumer goods firms shouldn’t fret as the companies are set to maintain dividend payment momentum even as tough and unpredictable environment undermined profit while share prices were beaten down last year.  Eight largest consumer good firms quoted on the floor of the bourse paid N78.33 billion for the year financial year ended December 2017. Analysts are of the view that payout ratio will not reduce even though some have embarked on aggressive expansion plans with a view to increasing the share of the market. Dangote Sugar Refinery paid total dividend of N15 billion for 2017 financial year. Dwindling purchasing power among consumers, insecurity in the northern part of the country, decrepit infrastructure, high incidence of smuggling, counterfeiting locally manufactured products, and the menacing gridlock at the Apapa Ports have made it difficult for manufacturers to bolster margins.  NASCON Allied and Dangote Sugar’s dividend yields of 8.33 per cent and 12 per cent are the highest among peers.  This is because their stocks are trading below intrinsic value, which makes it very attractive to investors. NASCON and Dangote Sugar are trading at a price to earnings ratio of 9.39 times and 5.83 times, which is lower than the consumer goods index P/E ratio of 19.58 times. BUSINESSDAY PAGE 31,  MONDAY, JANUARY 7, 2019

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Dangote Sugar Refinery Appoints COO

Dangote Sugar Refinery Plc says it has appointed Mr. Ravindra Singhvi as the Chief Operating Officer of the company. The firm, in a letter to the Nigerian Stock Exchange signed by the Company Secretary, Chioma Madubuko, said Singhvi’s appointment took effect from August 13, 2018. She said Singhvi had over 37 years of proven experience in leadership positions in manufacturing and processing in sugar, petrochemicals, cement, and textile products’ industries in India. According to Madubuko, prior to joining Dangote Sugar Refinery, Singhvi was the managing director and chief executive officer of NSL Sugar Limited, and the president of Indo Rama Group. THE PUNCH PAGE 28