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Dangote At 60: My Belief In Nigeria’s Economic Potential Unshaken

As he clocks the diamond age of 60 today, the president of Dangote Group, Aliko Dangote, has said his belief in Nigeria economic potential remains unshaken. This is even as President Muhammadu Buhari has felicitated with the Africa’s renowned businessman and philanthropist on his 60th birthday. The business mogul and famed Africa’s richest man who stated this in Lagos at the weekend, while speaking with a group of businessmen in his office, noted that his passion for the workability of Nigeria’s economy had been the underlining impetus of his investment decisions. Dangote whose birthday would be commemorated with the planting of sixty trees at the site of his world class Refinery and Petrochemical reiterated his common mantra that Nigeria is the world’s best kept secret. LEADERSHIP FRONT PAGE, INDEPENDENT PAGE B1, DAILY TIMES PAGE B2, DAILY TRUST PAGE 3, DAILY SUN PAGE 9, NIGERIAN TRIBUNE PAGE 34

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Dangote’s N217bn Sugar Plantation, Refineries To Create 30,000 Direct Employment In Nasarawa

During his recent visit to Nasarawa state, the President, Dangote Group of companies, Alhaji Aliko Dangote, disclosed that his conglomerate has commenced work on the proposed N217 billion (700million dollars) sugar plantation and refineries in the state. Dangote lamented that despite the huge potential for the production of sugar, Nigeria produces less than a quarter of its requirement, estimated at 1.7 million tones. Although privatization of sugar estates has improved the subsector as attested to by the turnaround at the Savannah Sugar Company in Numan, Adamawa state, the challenge remains evolving strategies to meet the demands of about 168 million consumers and prevent huge spending on imports. LEADERSHIP PAGE 57

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Dangote Sugar posts N14.4bn profit in 2016, declares 60k dividend

Dangote Sugar Refinery Plc has announced a profit after tax of N14.4 billion for the financial year ended December 31, 2016, representing an increase of 29.26 per cent. This was disclosed by audited result issued by the company recently and made available to the News Agency of Nigeria (NAN) in Lagos. The report indicated that the profit was against the N11 .14 billion reported in the corresponding period of 2015. The profit before tax stood at N19.61 billion compared with N16.16 billion achieved in the previous year, an increase of 21 per cent. The company’s revenue appreciated to N167. 72 billion against the N101.06 billion recorded in 2015, representing a growth of 68 per cent. The report, however, stated that the board of directors recommended a dividend of 60k per share to all its shareholders in contrast with 50k paid in 2015. Commenting on the development, Engr. Abdullahi Sule, the company’s acting Group Managing Director, attributed the performance to improved sales in spite of the current macro-economic challenges. INDEPENDENT B4, THISDAY PAGE 32, BUSINESS DAY PAGE 34

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Dangote Sugar’s Profit Grows by 29% in 2016

Dangote Sugar Plc has reported 29 per cent increase in profit after tax for the financial year ended December 31, 2016. In a filing to the Nigerian Stock Exchange (NSE), the audited results of the company showed that Profit after tax grew to N14.4 billion as against N11.14 billion recorded in 2015, accounting for a growth of 29 per cent. Profit before tax increased 21 per cent to N19.61 billion compared to N16.16 billion reported a year earlier. Group revenue was up by 68 per cent to N 169.72 billion from N101.06 billion in 2015. Commenting on the results, acting Group Managing Director, Abdullahi Sule, said: “We are very pleased with the results for the period under review, our revenue grew by 68 per cent and improved sales volume compared to 2015 despite the current macro-economic challenges. “Our focus in the current year and for the future remains leveraging our strengths to maximize every opportunity to generate sales, increase our market share and create sustainable value for our stakeholders.” NEW TELEGRAPH 27

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Dangote Sugar Boosts Revenue by 68%

Dangote Sugar Refinery Plc has announced a profit after tax of N14.4 billion for the financial year ended December 31, 2016, representing an increase of 29.26 per cent. This was disclosed by audited result issued by the company recently and made available to the News Agency of Nigeria (NAN) in Lagos. The report indicated that the profit was against the N11 .14 billion reported in the corresponding period of 2015. The profit before tax stood at N19.61 billion compared with N16.16 billion achieved in the previous year, an increase of 21 per cent. The company’s revenue appreciated to N167. 72 billion against the N101.06 billion recorded in 2015, representing a growth of 68 per cent. The report, however, stated that the board of directors recommended a dividend of 60k per share to all its shareholders in contrast with 50k paid in 2015. Commenting on the development, Engr. Abdullahi Sule, the company’s acting Group Managing Director, attributed the performance to improved sales in spite of the current macro-economic challenges. DAILY TIMES TUESDAY PAGE B2