Dangote Refinery Plants 60 Trees

Sixty trees have been planted in commemoration of the 60th birthday of the business mogul and President of Dangote group, Mr Aliko Dangote.

The tree planting, done at the 16 billion dollar Dangote refinery, was also aimed at combating global warming and climate change.

It was also carried out to create awareness for individuals to adopt the vision.

16 billion dollar Dangote refinery

Present at the event, and sharing their goodwill messages, were executive directors of the company, the United Nations, members of some mass A-forestation agencies, as well as daughters of Mr Dangote, Miss Fatima Dangote and Mrs Maria Dangote Dantata who represented him.

Togolese President Visits Dangote Refinery

Togo_presidentTogo’s President, Faure Gnassingbe, is in Lagos for a visit to the Dangote Refinery at the Lekki Trade Zone.

President Gnassingbe on Tuesday arrived the Presidential Wing of the Murtala Mohammed International Airport, Lagos.

The President and his entourage were received by the Governor of Lagos State, Mr Akinwunmi Ambode, the Minister of Industry, Trade and Investment, Okechukwu Enalemah, President of Dangote Group, Alhaji Alinko Dangote and some members of the business community.

President Gnassingbe’s visit to the refinery is premised on a possible business partnership between Dangote Group and the West African country.

The Togolee President also met with President Muhammadu Buhari. Both presidents met for about an hour in the President’s office.

While President Buhari commended Mr Aliko Dangote for his effort in the building of the refinery, the visiting president said that the refinery would go a long way to promote trade and contribute to reduce import from non-African countries.

Stabilise Niger Delta

President Buhari also promised that the Nigerian government would do all in its powers to stabilise the Niger Delta region to make the pumping of gas to other West African countries easy.

President Buhari had made a similar promise to the new President of Benin Republic, Mr Patrice Talon who also visited Nigeria for bilateral talks.

The discussion between the two leaders at the Presidential Villa centred on security, power and trade relations.

President Buhari thanked Benin Republic for contributing to the effort to check the Boko Haram insurgency and called on the West African nations to beware of restrictions on trade relations.

President Talon described Nigeria as a big brother who is needed at all times for his country to stabilise, especially in the power sector.

Bama IDPs Get Relief Materials

IDPs, Bama, Humanitarians, BornoInternally Displaced Persons (IDPs) living in makeshift camps in Bama Local Government have taken delivery of food and none food items from various humanitarians.

The Chairman of the Borno State Emergency Maintenance Agency (SEMA), Ahmed Sotomi, disclosed this to reporters on Thursday in Borno State, northeast Nigeria.

He lamented that at least 28,000 IDPs living in makeshift camps across liberated towns in the state have been dealing with hunger and ill health besides their homelessness.

Mr Sotomi noted that this was regardless of the relief items being donated by individuals, humanitarian organisations as well as government’s effort.

He added that 1,200 malnourished children and sick adults from the area had already been moved to the capital city of Maiduguri for proper diet and medication.

Commending the gesture, the Borno State Governor, Kashim Shettima, said that with 156 trailers load of assorted commodities, the Dangote Foundation had so far made the highest donation to the state.

One of the IDPs in Bama, Bunu Tela, urged the government to improve the feeding situation in the camps with consideration for special needs of inmates.

“What we want right now is food. The food they give us is not enough and there is no condiments.

“We just eat boiled rice with salt and seasoning sometimes, (but) we need more food. We need the government to help us to provide condiments for our meals,” Tela said.

Some of the beneficiaries of the items distributed in were orphaned children who have been forced by circumstances of the Boko Haram insurgency to head their families.

Officials say there are other 21,000 IDPs in Banki town, few kilometers away from Bama.

Dangote Refinery Will Fetch $6 Billion Yearly

pengassan-nnpc-DangoteThe planned refinery, fertiliser and petrochemical complex being built by Dangote Industries Limited will fetch Nigeria about $6 billion yearly in foreign exchange when completed.

This was revealed by the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, during a tour of the project site over the weekend.

The Apex Bank also stated that it was ready to provide forex for the importation of the equipment needed for the project.

The refinery, which has crude processing capacity of 650,000 barrels per day, is expected to come on stream by mid-2018 with major products such as petrol, high speed diesel and jet a1. The fertiliser plant is expected to start production in 2017.

Three projects are estimated to cost about $14 billion out of which Mr Aliko Dangote is contributing 50 per cent.

NSCDC In Kogi Parades Petroleum Vandals

NSCDC pipeline arrestKogi State Command of the Nigeria Security and Civil Defence Corps has paraded two suspects who are involved in petroleum pipeline vandalism.

The two suspects; Micheal Urom and Obi Kelechi, were said to have been arrested in a forest in Geba with two loaded tankers filled with substance suspected to be crude oil at about 2am.

The State Commandant of the NSCDC, Adesuyi Dayo, who paraded them at the NSCDC State Command Headquarters in Lokoja, told newsmen that the suspects were caught at the scene of crime, but on sighting his men some of them took to their heels while the two paraded were arrested.

One of the  suspects, 27 year old Micheal Urom, who hails from Ebonyi State, said that he was a former staff of Dangote before he was laid off his job, and he was in search of another job when he got this one.

Mr Adesuyi Dayo said that vandalism of petroleum pipeline and oil theft remained a major destruction to the country’s economy which needs to be tackled, calling on Nigerians to cooperate with security agencies in fighting the menace.

While also warning those involved in petroleum pipeline vandalism in the state to desist from the act, he vowed that as the new head of the Kogi Command of the NSCDC, he would leave no stone unturned towards ensuring that the state is rid of the crime.

Having promised that the suspects would be prosecuted according to the law, he called on people in the state to give useful information to his command which would help in tracking down more of those involved in the illicit act.

NDDC, Ex-Agitators Partner For Peace In Niger Delta

nddcIn furtherance of the Presidential Amnesty Programme for ex-agitators in Nigeria’s oil-producing communities, the Niger Delta Development Commission, NDDC, has initiated a partnership with key stakeholders to work out strategies for enduring peace in the region.

Speaking at a meeting with about 65 ex-agitators at the Hotel Presidential, Port Harcourt, the NDDC Managing Director, Barrister Bassey Dan-Abia, said that the quest for peace was in line with a critical component of the transformation agenda of the Federal Government, which underlines peace as a necessary condition for the success of its development programmes.

He noted that the possible development of the region could only be, if there was peace. Hence, the commission would not develop if they had to battle with kidnapping, sea piracy, pipeline vandalism and other similar vices.

He stressed that the time had come for all to sit down as one family, look inwards and open a new chapter for the development of the Niger Delta region.

Flanked by other board members, Dan-Abia applauded the ex-agitators for what he called their heroic efforts at drawing attention to the problems of the Niger Delta which informed the rapid development in the area.

The NDDC MD said that the commission had over the years been committed to so many programmes and projects, many of which were still on-going. Consequently, he said, the commission was now reviewing its strategy to ensure that on-going projects were completed on schedule as directed by President Goodluck Jonathan.

“I salute you as the leaders of the struggle and thank you for your courage and patriotism, which has drawn attention to the challenges of the region. Indeed, we at NDDC appreciate all your sacrifices that have put the Niger Delta in the front burner”, he said.

Making his contribution at the meeting, the leader of the Niger Delta Salvation Force, Asari Dokubo, noted that that the NDDC was set up basically to bring rapid development to the Niger Delta.

He stated, however, that development was not only about roads and bridges but should also take into account the building of human capacity.

Thanking the NDDC for bringing the ex-agitators together to map out plans for peace and progress, he called on the commission to strengthen its programmes for empowerment and capacity building in agriculture and skill acquisition in the technical sector.

He said: “We must develop the economic capacity of our people. We should not allow our people to be beggars in the midst of plenty. We need to produce the Dantatas and Dangotes of the Niger Delta”, he

Asari Dokubo also warned northerners who were suggesting that the NDDC should be scrapped to perish the thought, as they would not succeed.

He was apparently referring to a position paper being canvassed by some northern delegates at the on-going National Conference, calling for the scrapping of the amnesty programme, Ministry of Niger Delta Affairs and the NDDC.

Also speaking at the meeting, the leader of the Peace and Development Initiative, Mr. Reuben Wilson, a.k.a General Pastor, assured the NDDC of the support of the former agitators, noting that the meeting was recognition of their role in the liberation of the Niger Delta.

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.

Another Illegal Cement Factory Uncovered By Police

Barely one week after the discovery of illegal cement factory at Zango in Ogaminana in Adavi local government area of Kogi state, another illegal cement factory has been discovered by the police command in Aku village along Lokoja-Okene road.

The factory which was located in the bush about 600 meters from main road is being used for repackaging of adulterated cement.

The state commissioner of police, Mr Mohammed Katsina who conducted ChannelsTV round the factory, said the second illegal cement factory was uncovered through the intelligence report of the security personnel who had placed surveillance in the area.

Katsina explained that the syndicate who buys Dangote cement in large quantity will divert the trucks into the bush were the original cement are mixed up with sand before they will be re-bagged for the public to buy.

Adebayo said that he came from Osun state, adding that he was linked up with Baba Ayo who brought them to the factory and trained them.

He pointed out that they were paid N30 per bag, stating that the can only afford to re-bag 40 bags per day and he informed that the business was about re-bagging of cement.

Items found at the store of the big factory are one generating set to generate power, about 25 bags of re-bagged cement with fake Dangote bags, several fake empty bags with inscription of Portland cement, Dangote Cement, Gboko Plant, Funnels and other useful materials.

Dangote buys majority stake in Savannah Sugar

Dangote Sugar Refinery announced the acquisition of a 95 percent equity stake in Savannah Sugar Company Ltd.

The deal, according to a notice filed with the Nigerian Stock Exchange, was executed through a Share Sale and Purchase Agreement with Dangote Industries Ltd. through the acquisition of N2.14 billion ordinary shares of N1.00 each in Savannah Sugar.

Dangote’s committee raises N12 billion for flood victims…gets tax incentives

The Presidential Committee on Flood Relief co-chaired by business mogul, Aliko Dangote and a lawyer, Olisa Agbakoba on Thursday realised about N12 billion in the first round of its fund raising.

The 34-man committee had set N100 billion as its ultimate target.

Both Mr Dangote and the Federal Government donated the sum of N2.5 billion each, making both the highest donors at the event held at the Banquet Hall, State House, Abuja.

The Ministers of Petroleum and Communication Technology pledged to mobilise the IOCs and telecommunications companies respectively, to respond to the donation.

Incentives for donors

Meanwhile, President Goodluck Jonathan has announced tax incentives for all corporate organisations that donate into the flood relief fund to alleviate the sufferings of Nigerians who were affected by the recent flooding in the country.

He made the announcement at a fund raising dinner organised by the presidential committee he set up to cater for the needs of the flood victims.

The president also used the opportunity to launch the website for the fund-www.nigeriafloodrelief.org

Nigeria stock index closes near one-year high

Nigeria’s all share index on Wednesday closed near a one-year high on rising 1.16 percent, lifted by strong half-year earnings from banks and cement firms, and an increase in foreign capital inflows.

The index rose to 23,329 points, the highest close since August 5 last year, when it reached 23,397 points.

Nigeria’s  index has gained almost 12 percent year-to-date, recouping earlier losses it sustained due to dwindling oil prices in May and weak global risk appetite in the wake of ongoing European economic turmoil.

Top gainers on Wednesday include Dangote Cement, rising 3.51 percent to 114.02 naira.

Others were Zenith Bank up 3.89 percent and FCMB up 2.24 percent.

AP shareholders ask Supreme Court to restrain Dangote as NSE President

Shareholders of African Petroleum, (AP) PLC, have asked the Supreme Court to set aside the judgment of the Court of Appeal, Lagos, which allowed Mr Aliko Dangote resume as President of Nigerian Stock Exchange, NSE.

The aggrieved AP shareholders, through their counsel, Mr Onyebuchi Aniakor submit that the appellate court erred in law, in its proceeding.

The shareholders want the Supreme court to restrain Mr Aliko Dangote from taking any step and/or further steps to occupy and/or assume the duties & rights of President of NSE, in pursuance of the decision of the Court of Appeal pending the hearing and final determination of the appeal at the Supreme Court.

They also want the appellate court to restrain the defendant from parading himself and/or allowing himself to be paraded as President of NSE, pending the hearing and final determination of the appeal at the Supreme Court

Dangote resumed back as the president of the NSE on Tuesday, June 19 following a Court of Appeal ruling which reversed a federal high court judgement that nullified his election as the president of the nation’s bourse.

Africa’s richest man was in August 2009, elected the 17th president of the NSE based on a unanimous acclamation by the council members.

Justice Muhammed Liman of the Federal High Court, Lagos, nullified the election, ruling that it was in clear violation of an order of August 4, 2009, which directed all parties to maintain status quo in a suit by aggrieved shareholders of AP Plc.

The suit was against Dangote, Nova Finance and Securities Limited; a stock broking firm, and others on allegation that AP’s share prices were manipulated.

Dangote appealed against that decision and urged the Court of Appeal to set aside the ruling of the lower court.

In its judgment, the Court of Appeal held that since the federal high court was wrong to order parties to maintain status quo, there was no need to annul the election.

The court also held that Mr Dangote cannot be held for contempt over the elections.