Channels TV Moves Up Among Top 50 Brands In Nigeria


Twelve-time award winning station, Channels Television now ranks seventeenth position among the top 50 brands in Nigeria, coming behind industrial, multinational and banking giants such as Dangote Cement, GTbank and Nestle.

According to the latest survey by Brands Nigeria, Channels Television moved up 3 points from its position last year, and ranks 59.7 in brand strength measurement points, under the media category.

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About 52 percent or 26 brands within the survey are international brands, while 48 percent or 24 others are Nigerian brands.

The Banking & Financial Services categories took the lead again with 12 brands. Five of them among the top 10.

This was followed by the Consumer Goods with 9 brands while conglomerates had 5 brands.

Beverages, Media and Oil & Gas had 4 brands each, the automobile and agriculture had 2 brands each, while manufacturing, construction and retail each had 1 brand in their categories.

Top Gainers – PZ Cussons emerged the highest gainer this year, moving 17 places upward, from 40th position last year to 23rd in 2019. This is followed by Flourmill of Nigeria Plc who moved 14 places, now on 33rd. Others are Seven Up, from 31st to 18th.

Shell, FCMB and Eco Bank made a return this year at 41st, 44th, and 49th positions respectively.

Eleven brands maintained their 2018 position on the table, these are Dangote, MTN, GLO, UBA, Zenith Bank, Nigerian Breweries, Multichoice, Friesland, Oando, Forth Oil and Axa- Mansard

Also twelve brands got special recognition for the leadership category, they include: Agriculture – Olam, Automobile – Toyota, Banking and Financial Services – GTBank, Beverages – Coca-Cola, Conglomerates – Dangote Group, Consumer Goods – Dufil Prima Foods, Electronics – Samsung, Manufacturing – Lafarge, Media- Channels, Oil & Gas – Total, Retail- Shoprite, Telecoms – MTN Nigeria.

Dangote group emerged the most valuable brand in Nigeria for the second year, followed closely by MTN and Globacom as most valuable multinational and telecommunication brands.

The top brands and category leaders will be honoured in Lagos on November the 30th.

Okowa Calls On Dangote, Other Investors To Explore Nigeria’s Gas Industry

Okowa Woos Dangote, Investors To Tap Into Nigeria's Gas IndustryDelta State Governor, Ifeanyi Okowa, has asked investors to tap into the abundant gas resources in the state, in order to boost the state’s economy and that of Nigeria.

The Governor made the call while commissioning an ultra-modern office complex and warehouse of one of the biggest distributor of Dangote Cement in Asaba, the state’s capital.

The event had in attendance, Africa’s richest man and President of Dangote Group of Companies, Mr Aliko Dangote.

Governor Okowa stated that Mr Dangote has done a lot in the area of boosting not only Nigeria’s economy, but the economy of West Africa, stressing that the greatest benefit of such investments is job creation.

While some State Governments depend on the Federal Government for allocations to handle capital projects, Dr. Okowa stressed the importance of gas in Nigeria’s petrochemical industry.

He expressed confidence that with the help of investors, the natural gas in Delta State is capable of turning the state’s economy into a more viable one.

Governor Okowa reiterated the readiness of his administration to encourage prospective investors, adding that Nigeria is blessed with natural resources to be a huge importer of finished products.

He emphasized that there will be a lot of derivable benefits, if investors tap into the gas industry of Delta State.

“We have a lot of gas in Delta State and gas is very important to the petrochemical industry.

“As a nation, we cannot continue to import finished products and we strongly believe that we will play host to the next multi-billion Naira project of the Dangote Group in Delta State.

“As a state, we want to see a lot of actions beyond the cement industry, because it will create a lot of job opportunities for our youths,” the Governor said.

Gas Is Better Than Oil

The prospect appears to be bright as Mr Dangote disclosed the possibility of the company to invest in the natural gas that abounds in Delta State.

“We are an industrial company and what we concentrate on is agriculture; we do rice, sugar, cement, limestone, but the strength of Delta State is gas and gas is better than oil.

“Once there is gas, we will be able to do a lot in the petrochemical industry. We are doing an oil-based one in Lagos which is the most expensive way of doing petrochemical.

“The cheapest way is gas, if we can get the gas here, we will definitely come and invest a lot of money in Delta and employ unemployed youths,” Dangote said.

Delta State contributes about 29.98% of the total oil production in the country, as natural gas is associated with crude oil.

According to the Niger Delta Budget Monitoring Group, estimated reserves amount to 800 million cubic meters of the total gas production of about 2000 million cubic meters a month.

Only 12 million cubic meters are used as fuel, while 11 million cubic meters are sold with the balance flared.

Reports also reveal that crude oil revenue, which accounts for a lump sum of the Federal Allocation, has recently depleted due to the activities of militants in the Niger Delta region and the persistent fall in global oil prices.

Dangote Set To Launch Nigeria’s First Private Refinery

DangoteAfrica’s richest man, Aliko Dangote, plans to launch Nigeria’s first private crude oil refinery by 2019 while almost doubling his cement production on the continent by adding plants in eight countries as he shrugs off a regional economic downturn.

Dangote told Reuters the $12 billion refinery would have a capacity of 650,000 barrels a day, cornering the market in Africa’s most populous country, where fuel shortages are a perennial problem.

Until recently, Nigeria was Africa’s biggest crude oil producer but it imports 80% of its fuel because poor maintenance means its four refineries never reach full output.

Its current daily consumption is 260,000 barrels, according to the International Energy Agency.

A slump in commodity prices has hammered Nigeria’s economy – along with many others on the continent – and raised the cost of borrowing but Dangote, whose business empire stretches from cement to flour and pasta, is pushing hard into oil and gas.

“It will be ready in the first quarter of 2019,” the billionaire founder of Dangote Cement said of the refinery. “Mechanical completion will be end of 2018 but we will start producing in 2019.”

Dangote said the plant, which will include a $2 billion fertilizer unit, was being funded through “loans, export credit agencies and our own equity”.

Some $3.25 billion had come from local and foreign banks, while the central bank had also chipped in. The IFC, the private sector arm of the World Bank, has lent $150 million.

Dangote also has plans for a gas pipeline through West Africa. Nigeria has the world’s ninth largest proven gas reserves, at 187 trillion cubic feet (tcf), but loses half of it to flaring and re-injection.

Despite the new focus on oil and gas, the business magnate said he planned to build cement plants in Cameroon, Ethiopia, Kenya, Mali, Niger, Nigeria, Senegal and Zambia by 2018. Another plant will open in Congo Republic by September, he added.

A cement plant in Ivory Coast would triple output to 3 million tonnes, up from an initial target of 1 million, he said, while two new plants in Nigeria would add 6 million tonnes annually.

“As at now, what we have in operation is almost about 45 million tonnes, so we have just another 40 million tonnes to go,” he said, affirming an Africa-wide production target of 85 million tonnes a year by 2018.


Lafarge Unveils 2016 Outlook, Confident In Nigeria’s Growth Potential

Lafarge Lafarge Africa Plc., a leading cement and building solutions provider, has released details of the outlook for its business in 2016.

The CEO, Peter Hoddinott, said that the company remains bullish about Nigerian growth potential, adding that Lafarge Africa will continue to deliver “good performance with significant upsides to come as new cement and power generation capacities come on stream and synergy benefits from the merger in Nigeria flow through.

“Our business integration process has been successful and as a Company we are optimistic to deliver improving performances in 2016 and beyond, improving value to our shareholders,” he said.

According to him, the integration of LafargeHocim businesses in Nigeria will drive efficiencies and ultimately generate synergy savings of N9 billion for the group by mid-2018. The cost of borrowing for the companies will also reduce by 4%.

According to the statement, the overall Nigerian cement market is foreseen to grow robustly in 2016 behind a strong Individual Home Building Segment.

The Federal Government of Nigeria has also shown strong indications to support infrastructure growth in the coming year.

Lafarge Africa will be able to leverage its unique footprint in 2016 with Ashaka returning to growth, ReadyMix securing high volume contracts to support its eight existing, and new plants to be commissioned as well as the new 2.5 million tons cement line due to be commissioned in Mfamosing in H2.

Overall, the Lafarge Africa group says it will continue to seek innovative ways of improving product offerings in the Nigerian cement, concrete and aggregate market in 2016.

“In the South Africa market, Lafarge Africa will leverage the 2015 investments within the cement operations with a revamped sales team and route to market.

“In aggregates, the company will continue to benefit from its strong network delivering results with two new quarries, being opened in the Gauteng market and Ready-Mix growth. Overall, new strategies in penetrating retail, new geographies and the technical segment are expected to allow Lafarge Africa volumes to grow above a flat market in all three product lines.

“Lafarge Africa will also consolidate on initiatives which have recently driven growth. This includes the Key Distribution Scheme, a strong route to market scheme which has been critical to sales and revenue growth in South West Nigeria.

“Across its factories and product and solutions portfolio, Lafarge Africa PLC will focus on improving on its solid capacity utilization performance in 2016.”

Profit Decline Caused By Exchange Revaluation Impacts – Lafarge Africa

Lafarge AfricaListed cement giant, Lafarge Africa says the 20% decline in its 2015 net profit was due to the stripping of one-off items and exchange revaluation impacts.

In a statement released at the weekend, the company noted its consolidated revenue was up to 267 billion Naira in 2015 in a challenging market, while cash flow was seen at 57.9 billion Naira.

Lafarge Africa’s CEO, Mr Peter Hoddinott, believes 2016 will deliver significant upsides, as new cement and power generation capacities come on stream with benefits from the 2015 merger flowing into its Nigeria unit.

Lafarge is forecasting that the Nigerian market will record significant growth this year on strong individual home building segment.

The company had earlier announced a disappointing profit decline of about seven billion Naira, for the 2015 financial year.

In a statement released to the stock exchange on Thursday, the cement giant reported a net profit of 26.9 billion Naira down from 33.5 billion reported in the 2014 full year period.

Dubai’s ICD Buying $300 mln Stake In Nigeria’s Dangote Cement

DangoteInvestment Corp of Dubai (ICD), the state fund which holds stakes in some of the Emirate’s top firms, has agreed to buy a $300 million stake in top Nigerian cement producer, Dangote Cement, a spokesman for Dangote said on Monday.

Dangote’s Head of Investor Relations, Carl Franklin, did not give further details.

Dangote’s current market capitalisation is about $23.7 billion, meaning ICD is taking a stake of about 1.3 percent.

Dangote, owned by Africa’s richest man, Aliko Dangote, is Nigeria’s biggest company. It is expanding operations and plans to roll out cement plants across Africa.

Dangote Now Richer Than Russia’s Richest Man

The President, Chief Executive of the Dangote Group, Aliko Dangote, has become the first African entrepreneur to lay claim to a $20 billion fortune, thus becoming one of the 25 richest men in the world.

Dangote Cement becomes the first Nigerian company to achieve a market capitalisation of over $20 billion. Dangote’s 93 percent stake in the cement company is now worth $19.5 billion, according to Forbes magazine.

Added to this are his controlling stakes in other publicly-listed companies like Dangote Sugar and National Salt Company of Nigeria, and his significant shareholdings in other blue-chip companies like Zenith Bank Plc, UBA Group and Dangote Flour; his extensive real estate portfolio, jets, yachts and current cash position, which includes more than $300 million in recently-awarded Dangote Cement.

Forbes reported that the Nigerian billionaire was now richer than Russia’s richest man, Alisher Usmanov; India’s Lakshmi Mittal; and running neck and neck with India’s Mukesh Ambani.

According to the magazine, he is catching up to such Americans as Google’s billionaire founders, Larry Page and Sergey Brin.

It will be recalled that Dangote Cement had recorded an unprecedented surge in its share price largely due to market response to the company’s impressive results in the first quarter of this year.

Forbes in its report reasoned that other companies might eventually achieve this, but it was going to take a bit of time.

Dangote Cement currently accounts for more than a quarter of the total market capitalisation of the Nigerian Stock Exchange (NSE). The second largest company on the NSE is currently Nigerian Breweries Plc, West Africa’s largest manufacturer of alcoholic and non-alcoholic beverages, which has a market capitalisation of $8.5 billion.

Dangote made a debut on the Forbes billionaires list in 2008 with a fortune pegged at $3.3 billion. His fortune dropped to $2.5 billion in 2009 and plunged further to $2.1 billion in 2010.

His fortune surged 557 percent in 2011 to $13.8 billion after he took Dangote Cement public. Dangote dropped to $11.2 billion in last year’s rankings, but rebounded at $16.1 billion this year. Since March, his fortune has jumped another 30 percent.

Dangote started building his fortune over three decades ago after taking a loan from Sanusi Dantata and started trading in commodities like flour, sugar and cement.

Police Uncover Illegal Cement Factory In Kogi

The Kogi State Police Command has uncovered illegal cement factory at Zango area of Ogaminana in Adavi Local Government Area of Kogi state where the product of Dangote Cement are being re bagged.

The factory which was located at a new site was used to repackage adulterated cement from Obajana Cement Factory and sold to unsuspecting members of the public.

The State Commissioner of Police, Mr. Mohammed Musa Katsina, who led the operation, told newsmen that the illegal factory was uncovered by his intelligence unit of the command.

The site was littered with cement and empty sacks of cement ready to be packaged and sold.

A vehicle belonging to Julius Berger was also impounded at the site. The vehicle is alleged to have been used to supply white sand, an ingredient used in mixing cement.

While briefing pressmen at the site of the illegal factory, Katsina said three suspects have been arrested and that preliminary investigations revealed that the product was usually adulterated with some other substandard material and repackaged into Dangote branded bags and thereafter dispatched to the market through the same trucks that brought them to site.

He therefore called on the members of the public to be extra vigilant in the product they buy, adding the adulterated cement was responsible for cases of collapsed structures which have claimed lives of innocent people in the country.

Dangote liberalises distribution of cement to crash price

Dangote Cement recently opens new $1 billion plant

Following the successful doubling of its cement production, Dangote Cement Plc, has commenced a systematic liberalisation of the product distribution in order to bring down the price.

The management over the weekend said it was widening the distribution outlets by opening more mega depots and signing on new distributors so that the consumers can reap the full benefit of the increased local production.

Dangote Cement, which accounts for over 70 per cent of the cement produced in Nigeria, has continued to invest more in its production capacity by expanding its production lines and establishing new plants.

This the company claims will ensure the nation produces enough for home consumption and have surplus for export to other countries.

The management of Dangote Cement is of the view that only a liberalised distribution system can make increased local production translate to cheaper cement and make meaningful the huge investments in local production.

With more investments by the sector players combined, local production has risen to about 27 million metric tonnes per annum high and above the national demand hovering between 17 and 18 million metric tonnes per annum.

Dangote Cement, Zenith Bank, ETI top Forbes list of W/African companies

Dangote Cement, Zenith Bank PLC and Ecobank Transnational Incorporated have emerged amongst highly rated West African companies listed for an award ceremony by Forbes Africa that will hold in Lagos.

Aliko Dangote, President and Chief Executive of Nigeria's Dangote Group speaks during the final session of the World Economic Forum on Africa meeting in Cape Town June 6, 2008.

A statement by Forbes Africa holding on Thursday revealed that the event, titled, ‘The Top Listed West African Companies” was a celebration of the success of risk takers and job creators in the West African sub-region.

Companies on the list include Zenith Bank, Dangote Cement Plc, Nestlé Nigeria Plc, Ecobank Transnational Incorporated and Cote d’Ivoire’s Soc Africaine De Plantations.

The statement added that the event, which would be hosted by Pan-African Event Company, ABN Productions and Forbes Africa Magazine, was an initiative aimed to encourage organisations to strive for sustained excellence and to promote their profiles in Nigeria and around the world.

The list covers the top 25 companies in the West African capital market comprising the Nigerian Stock Exchange, Ghanaian Stock Exchange and the Abidjan-based Bourse Régionale des Valeurs Mobilières SA (Regional Securities Exchange SA) or BRVM.

Speakers expected at the event include the Chief Executive Officer, Nigerian Stock Exchange, Mr. Oscar Onyema, and Managing Editor, Forbes Africa, Mr. Chris Bishop.

The event is the first of a series of awards organised by ABN Productions with broadcast partner CNBC Africa and it is expected to bring together listed West African companies that operate across a variety of sectors.

Dangote aims $40 billion listing on London Stock Exchange

The Chairman of Dangote Cement, Aliko Dangote has revealed that he is targeting a market capitalisation of $35-40 billion for the cement company, when he lists it on the London Stock Exchange next year.

Aliko Dangote, President and Chief Executive of Nigeria's Dangote Group speaks during the final session of the World Economic Forum on Africa meeting in Cape Town June 6, 2008.

The money will be used to pay off investors including himself, he revealed in an interview on Wednesday.

“It depends on the market, but it should be something like $35 to $40 billion dollars. We are targeting something like that,” Dangote said of the secondary listing in London that is planned for late next year.

Dangote cement as at the end of 2011, was the most capitalised company on Nigerian Stock Exchange at N1.716 trillion.

Mr Dangote also revealed that Dangote Cement had raised its capacity target to 60 million tonnes a year by 2015 from a previous 50 million tonne target.

The business mogul, who was recently named the richest man in Africa, owns a cement empire stretching from Senegal to South Africa.

He commissioned the largest cement plant in Africa on Monday, located in Obajana, Kogi state, with a production capacity estimated at 20 million tonnes per annum.

Dangote to invest $7 Billion in Nigeria’s electricity

Africa’s richest man, Aliko Dangote, plans to lead a $7 billion investment in Nigeria’s power, petrochemical and mining sectors over the next four years, Ventures Africa has reported.

Aliko Dangote, President and Chief Executive of Nigeria's Dangote Group speaks during the final session of the World Economic Forum on Africa meeting in Cape Town June 6, 2008.

Mr Dangote, who disclosed his intentions during a send-off party for Thierry Tanoh, the IFC Vice-President for Sub-Saharan Africa, Latin America and Caribbean and Western Europe on Sunday in Lagos, said that he will be investing in the construction of a 2,000 megawatt power-generation facility.

“We want to do power that will be about 2,000 MW, that is infrastructure.” He did not disclose details about the planned mining and petrochemical investments.

Dangote’s largest investment is currently in cement, via his company Dangote Cement, which listed on the Nigerian stock exchange in 2010. He also owns stakes in publicly-traded companies operating in sugar refining, flour milling and salt processing.

This new investment would mark Dangote’s first large-scale foray into power generation.