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Dangote Refinery Dismisses NUPENG Allegations, Says CNG Trucks Will Create 60,000 Jobs, Not Kill Them

Lukman Omikunle
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Dangote Refinery Dismisses NUPENG Allegations, Says CNG Trucks Will Create 60,000 Jobs, Not Kill Them

By Lukman Omikunle

Dangote Refinery dismisses NUPENG’s claims of anti-labour practices, monopoly, and planned fuel hikes, insisting its CNG truck initiative will create 60,000 jobs and strengthen Nigeria’s energy transition

Dangote CNG Tankers

Dangote Refinery Dismisses NUPENG Allegations, Says CNG Trucks Will Create 60,000 Jobs, Not Kill Them

Lagos, Nigeria – Dangote Petroleum Refinery has strongly dismissed allegations by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), insisting that claims of anti-labour practices, monopolistic behaviour, and plans to hike fuel prices are “entirely unfounded.”

NUPENG, in a statement issued on September 5, alleged that the Dangote Group was undermining union activities and threatening workers’ welfare with the roll-out of compressed natural gas (CNG) powered bulk trucks.

But in a detailed response, Dangote Refinery reaffirmed its respect for constitutionally protected labour rights, clarifying that its employees are free to associate with any recognised trade union.

“Assertions that drivers are compelled to waive union rights are categorically false,” the company said, stressing that the matter relates to NUPENG’s Petrol Tanker Drivers (PTD) unit and does not implicate the refinery in any rights violations.

Job Creation, Not Job Loss

At the centre of the controversy is the deployment of over 4,000 CNG-powered trucks, which NUPENG claimed could threaten existing jobs. Dangote Group, however, described the initiative as central to Nigeria’s energy transition strategy.

“The deployment of CNG-powered trucks is a strategic initiative designed to support national energy transition goals, not to displace existing jobs,” the statement read.

According to the company, each truck will be operated by a six-person team, with drivers receiving salaries well above the national minimum wage, as well as medical cover, pensions, housing allowances, and access to long-term housing loans. By year’s end, Dangote plans to operate 10,000 such trucks, potentially creating over 60,000 direct jobs.

No Monopoly, No Price Hike

Responding to claims of monopolistic behaviour, the company emphasised its operations are fully regulated under the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

It pointed out that more than 30 refinery licences have been issued to other private investors, including BUA, Aradel, Walter Smith, and Edo Refinery.

“While we are a major industry player, our presence has revitalised the downstream sector, reopened dormant petrol stations and restored investor confidence,” Dangote Refinery stated.

The company also rejected claims of fuel price hikes, noting that its operations have instead stabilised the market. Diesel prices have reportedly dropped by more than 30% in the past year, while petrol in Nigeria is now cheaper than in Saudi Arabia and about 40% lower than in neighbouring West African countries.

Federal Government’s Role

Dangote further denied claims that it walked out on conciliation efforts with NUPENG, clarifying that no formal grievances were raised before the union went public.

“We acknowledge and appreciate the intervention of the Federal Government, particularly the Ministry of Labour and Employment, and remain fully supportive of ongoing efforts to achieve a lasting resolution,” the statement read, while praising the roles of Dr. Mohammed Dingyadi (Katuka Sokoto) and Mrs. Nkiruka Onyejeocha in mediating the dispute.

Driving Growth Across Sectors

Since commissioning just over a year ago, Dangote Refinery has turned Nigeria into a net exporter of refined fuels, supplying markets as far as the United States. Its production of polypropylene, LPG, and naphtha is spurring growth in manufacturing, aviation, and agro-processing.

The company also highlighted its impact on household energy, stating that local LPG supply has brought down cooking gas prices and reduced reliance on firewood and kerosene.

With over 570,000 direct and indirect jobs already created across road, power, and water projects, the refinery says it has become a hub for skills development and technology transfer.

Concluding its statement, Dangote dismissed the monopoly accusations as “recycled falsehoods” and urged other private players to invest boldly in Nigeria’s economic future.

“At Dangote, we have chosen to invest boldly in Nigeria’s future and we will continue to do so. It is time others follow suit.” Read More

New Dawn in Isara-Remo: Aare Adetola Emmanuelking Hails Odemo-Elect Oluwole Ogunbayo

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New Dawn in Isara-Remo: Aare Adetola Emmanuelking Hails Odemo-Elect Oluwole Ogunbayo

New Dawn in Isara-Remo: Aare Adetola Emmanuelking Hails Odemo-Elect Oluwole Ogunbayo

History and tradition converged in Isara-Remo, Ogun State, as the Otun Asiwaju of Remoland and Chairman/CEO of Adron Group, Sir Aare Adetola Emmanuelking KOF, paid a courtesy visit to Bashorun Oluwole Ogunbayo, the Odemo-elect of Isara, who was recently chosen as the 38th Odemo, and is presently undergoing the customary rites ahead of his coronation.

The visit was both a gesture of honour and an opportunity for Aare Adetola Emmanuelking to extend his heartfelt felicitations to the monarch-in-waiting and his close friend on his historic emergence. He described Bashorun Ogunbayo’s selection as a testimony of destiny fulfilled and the dawn of a promising era for the illustrious town of Isara.

In his remarks, Aare Adetola Emmanuelking praised the Odemo-elect for his humility, foresight, and strength of character, qualities he believes will shape a reign marked by peace and sustainable development once the coronation is complete. He noted that the people of Isara, and indeed all of Remoland, are blessed to have chosen a leader whose life embodies wisdom and compassion.

“Your emergence as the 38th Odemo-elect of Isara is a true triumph for the entire Isara kingdom. It is a divine orchestration destined to usher in peace, unity, and progress. I pledge my support to your noble vision for advancing the fortunes of Isara,” he said.

In his response, the Odemo-elect expressed deep gratitude for the visit and goodwill. He commended Aare Adetola Emmanuelking for his commitment to community development as well as the promotion of Yoruba traditions and cultural heritage. He also prayed for the continued success of Adron Group, and lauded his notable contributions to Remoland and the larger Nigerian society.

The courtesy visit further highlights Aare Adetola Emmanuelking’s deep respect for Yoruba traditional institutions and his enduring role in fostering harmony, preserving culture, and driving socio-economic advancement within and beyond Remoland.

Tinubu Describes Meeting With Macron as Productive, Pledges Stronger Nigeria-France Ties

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Tinubu Describes Meeting With Macron as Productive, Pledges Stronger Nigeria-France Ties

President Bola Tinubu says his meeting with French President Emmanuel Macron at the Élysée Palace was productive, focusing on deeper cooperation for mutual prosperity and global stability

Tinubu Describes Meeting With Macron as Productive, Pledges Stronger Nigeria-France Ties

President Bola Ahmed Tinubu has described his meeting with French President Emmanuel Macron as “productive,” highlighting plans to strengthen cooperation between Nigeria and France in key areas of mutual interest.

Tinubu disclosed this in a post on his official X (formerly Twitter) handle on Wednesday, shortly after his engagement with Macron at the Élysée Palace in Paris.

“Had a productive lunch with President Emmanuel Macron @EmmanuelMacron today at the Élysée Palace.
We reviewed key areas of cooperation between Nigeria and France and agreed to deepen our partnership for mutual prosperity and global stability,” Tinubu stated.

The meeting comes as both nations seek to expand collaboration in trade, security, energy, and cultural exchange. Analysts say stronger bilateral ties could enhance Nigeria’s global positioning and boost its economic recovery efforts.

Meanwhile, the Presidency announced that Tinubu had commenced a 10-day annual vacation on September 4. According to a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, the President is expected to spend his leave between France and the United Kingdom before returning to Nigeria. Read More

Tiwa Savage Rejects “Queen of Afrobeats” Title, Says Many Female Artists Deserve the Crown

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Tiwa Savage Rejects “Queen of Afrobeats” Title, Says Many Female Artists Deserve the Crown

Nigerian singer Tiwa Savage says she doesn’t accept the “Queen of Afrobeats” tag, stressing that many female artists deserve recognition. She appreciates fans but finds the title uncomfortable

Tiwa Savage

Tiwa Savage Rejects “Queen of Afrobeats” Title, Says Many Female Artists Deserve the Crown

Afrobeats superstar Tiwa Savage has distanced herself from the popular label of “Queen of Afrobeats,” saying she finds the title uncomfortable and undeserving of only one person.

Speaking in a recent interview with Apple Music’s Ebro, the award-winning Nigerian singer explained that while she appreciates the love and recognition from fans, she cannot accept the crown because it places unnecessary responsibilities on her and ignores the contributions of other female stars.

“Yeah, they call me the Queen of Afrobeats, but there are a lot of us that are Queens,” Savage said.

She further clarified her discomfort with the tag saying, “Personally, I don’t like that tag, it’s uncomfortable because I feel like if I start accepting it, I need to be humble and secondly, it doesn’t make sense to me. So, I don’t [accept it]. But I appreciate it. I didn’t come up with it. I think it’s just because I was one of the first female artists in Nigeria to breakthrough. I do appreciate that. I’m not taking it for granted.”

Tiwa Savage is regarded as one of the pioneers of modern Afrobeats’ global rise, with a career spanning over a decade, multiple hit singles, international collaborations, and historic performances, including at King Charles III’s coronation concert in 2023.

Tiwa Savage live at King Charles III Coronation Concert

Her rejection of the “Queen” title has sparked discussions in the Afrobeats community about the need to celebrate multiple female voices shaping the genre, rather than boxing it into a single crown. Read More

[Details] EFCC Grills Ex-NNPCL Boss Mele Kyari Over $2bn Refinery Repair Funds, Seizes Passport

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[Details] EFCC Grills Ex-NNPCL Boss Mele Kyari Over $2bn Refinery Repair Funds, Seizes Passport

Former NNPCL GCEO Mele Kolo Kyari is under EFCC investigation over $2bn refinery repair funds. His passport has been seized as detectives probe TAM and contracts awarded

Port Harcourt Refinery

[Details] EFCC Grills Ex-NNPCL Boss Mele Kyari Over $2bn Refinery Repair Funds, Seizes Passport

The Economic and Financial Crimes Commission (EFCC) has launched a major probe into the tenure of former Nigerian National Petroleum Company Limited (NNPCL) Group Chief Executive Officer, Mele Kolo Kyari, over the controversial funding of refinery repairs.

Kyari was taken before investigators at the EFCC headquarters in Abuja on Wednesday. By 8:30pm, he had not been released, sparking speculation about possible detention. His international passport was also seized to restrict his movement.

According to EFCC insiders, detectives are scrutinizing: The disbursement of over $2 billion allocated for Turn-Around Maintenance (TAM) – including $1.55 billion to Port Harcourt Refinery, $740.6 million to Kaduna Refinery, and $656.9 million to Warri Refinery.

The contracts awarded during his tenure as NNPCL boss.

How N4.8 trillion was allegedly spent on refinery operating costs despite the facilities being largely non-functional.

An EFCC source disclosed, “After the probe of TAM, Kyari will proceed to the second phase of the investigation, which is about the humongous contracts awarded during his tenure. So far, we have seized his international passport to limit his movement in the course of investigation.”

The source added that some of Kyari’s former officials had already refunded portions of TAM funds to the EFCC, raising further questions about accountability.

Kyari, who was appointed in 2019 and removed on April 2, 2025, maintained he had nothing to hide. In a statement titled “Hard questions, honest answers”, he said:

“I have done my part; the EFCC must do theirs. When each of us does our duty – without fear of favor, with honour, respect and commitment – Nigeria moves forward.”

Billions Sunk Into Refineries, Little to Show

Nigeria’s four state-run refineries – two in Port Harcourt, Warri, and Kaduna – have a combined installed capacity of 445,000 barrels per day (bpd). Despite this, they have been largely comatose for years.

Between 2010 and 2025, about $18 billion was spent on TAM, yet the plants remain dysfunctional.

Contracts awarded under Kyari included: $497.3 million “quick fix” repair of Warri Refinery to Daewoo Engineering and Construction Limited in June 2022.

A 2017 contract to Saipem Contracting Nigeria Limited for a technical plant survey of Warri and Kaduna refineries worth over €2 million.

A February 2023 renovation deal with Daewoo for Kaduna Refinery, aimed at restoring production capacity to 110,000 bpd.

Ojulari Reveals Huge Refinery Losses

Kyari’s successor, Bayo Ojulari, revealed the extent of losses shortly after taking office.

“When I resumed, one of the first priorities I focused on was the refinery. I did a quick review to see if we could quickly fix it. What I found is that we were losing between $300 million to $500 million on a monthly basis in the refinery,” Ojulari said during a meeting with PENGASSAN leaders.

He explained that the Port Harcourt Refinery, briefly restarted in November 2024 under Kyari, was halted in May 2025 to stop massive financial hemorrhaging.

“The first thing we said was rather than continue to lose, let’s quickly stop and look for a way to put this refinery into a sustainably profitable venture,” Ojulari added.

The NNPCL is now working on a Public-Private Partnership model similar to NLNG to revive the refineries sustainably.

As the EFCC continues its investigation, the spotlight remains on Kyari and how billions of dollars allocated for refinery rehabilitation vanished with little to show for it. Read More

Fake “Obi of Lagos” Arrested in Lagos, Police Foil N1.5bn Palace Installation

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Fake “Obi of Lagos” Arrested in Lagos, Police Foil N1.5bn Palace Installation

Fake “Obi of Lagos” Arrested in Lagos, Police Foil N1.5bn Palace Installation

The Lagos State Police Command has arrested a 65-year-old man, Engr. Chibuike Azubike, for allegedly parading himself as the “Obi of Lagos,” in what authorities described as a brazen attempt to deceive the public and undermine the state’s revered traditional institutions.

Azubike, an indigene of Obodoukwu Ancient Kingdom in Ideato North Local Government Area of Imo State, was apprehended on Wednesday, September 10, 2025, along with three accomplices: Chief Chibuzor Ani (57), Chief Martins Nwaodika (65), and Mr. Ikechukwu Franklin Nnadi (41).

According to the Deputy Police Public Relations Officer, DSP Babaseyi B. Oluseyi, the arrests followed credible intelligence reports that the suspects had concluded plans to unveil a prototype of a purported N1.5 billion “Palace of Obi of Lagos State” on Saturday, September 13, 2025, at Apple Hall, Amuwo Odofin.

“The suspects are currently in detention and investigations are ongoing. They will be charged to court upon completion of the investigation,” DSP Oluseyi confirmed.

Acting on the intelligence, Commissioner of Police, CP Olohundare Jimoh, ordered tactical deployments to the venue, including Eko Strike Force units and other security squads, to seal off the hall and ensure that the event did not hold.

The Police Commissioner also cautioned Lagosians to remain vigilant against impostors attempting to exploit the state’s cultural and traditional institutions.

“Such acts are unlawful, undermine the integrity of Lagos State, and pose a potential threat to public peace,” CP Jimoh warned.

The foiled attempt has since sparked heated conversations across Lagos, where traditional titles carry immense cultural weight and identity. Security analysts say the police intervention prevented what could have escalated into large-scale confusion and possible unrest. Read More

PRESS RELEASE: “Clampdown On Conscientious Objectors Is Antithetical To Democratic Values” – CSOs Calls On PBAT To Be Wary Of Deporting Egyptian Exiles

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PRESS RELEASE: “Clampdown On Conscientious Objectors Is Antithetical To Democratic Values” – CSOs Calls On PBAT To Be Wary Of Deporting Egyptian Exiles

PRESS RELEASE: “Clampdown On Conscientious Objectors Is Antithetical To Democratic Values” – CSOs Calls On PBAT To Be Wary Of Deporting Egyptian Exiles

On behalf of Coalition of Civil Society Organizations embedded in the struggles for human rights, democracy, Constitutionalism and social justice in Nigeria, we write to call on President Bola Ahmed Tinubu, GCFR and, all pertinent security agencies to be wary of inadvertently fallen into the snares of global, anti- democratic forces in the diplomatic handling of Egyptian exile, Citizen Alli Mahmoud Abdel – Wanis.

It should be recalled that we have earlier emphatically condemned the arrest and detention of Abdel – Wanis, calling for his unconditional release .

We are gravely disturbed with news of clandestine ploys by Nigerian government and its security agencies to depot Wanis. It is rather needless for us to paint the gory portrait of the regime in control of the reins of power in Egypt.

Egypt has always been an intensively caste and closed society. Much more so under the Jackboot Despotism of Field Marshal Abdel Fattah el-Sisi since 8th. June,  20124 .

According to the global monitoring watchdog,, ” Human Rights Watch” – the Egyptian regime, ” relies on naked coercion and the military security services as its main vehicle of control “. It is therefore, Manifestly discernible that if Wanis is deported to Egypt, he along with co – Conscientious Dissentals shall be subjected to unimaginable, harrowing torture and gruesome death!

It is trite to reiterate here that if the NADECO forces including President Bola Ahmed Tinubu GCFR and other Objectors had been rejected by civilized, democratic world, Nigeria would most likely be wallowing in the cesspit of absolute despotism.

Humanity has passed the historical phase of maximum,, military rule. Thus, as we rose against South Africa Apartheid regime, it behoves on all to condemn any act of inhumanity to all human beings across the globe.

We call on all Global Institutions on Human Rights to join us in the crusade for the freedom of Citizen, Ali Abdel – Wanis and other Prisoners of Conscience.

Signed:-

We, in Service to Humanity,
Omotaje Olawale Saint
WorkBond International Network ( WIN )

Gbenga Soloki
Centre Against Injustice and Domestic Domestic Violence
(CAIDOV)

Ayo Ogundele
All Workers Convergence

Co-Organisations:

All Workers Convergence
Lagos State Liberation Congress
Centre for human and Socio-economy rights
Yoruba Youth Assembly
Centre for Human Rights Advocacy
Youth Initiative Agenda for Democratic Process
Southwest People Parliamentary Agenda
Peace Initiative For Better Nigeria
Youth League Academy

Contact:-
WhatsApp Call & Message: 0909 139 1300
E-Mail :- ogbeniws@gmail.com

Tinted Glass Permits Are Legal, Transparent – Nigeria Police Responds to NBA Lawsuit

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Tinted Glass Permits Are Legal, Transparent – Nigeria Police Responds to NBA Lawsuit

The Nigeria Police has defended its tinted glass permit policy after the NBA sued the IGP, insisting the regulation is legal, transparent, and vital for crime prevention

Tinted Glass Permits Are Legal, Transparent – Nigeria Police Responds to NBA Lawsuit

The Nigeria Police Force (NPF) has defended its tinted glass permit policy, describing it as lawful, transparent, and consistent with global best practices, amid a lawsuit reportedly filed by the Nigerian Bar Association (NBA) against the Inspector-General of Police (IGP), Kayode Adeolu Egbetokun.

In a statement on Wednesday, the Force Public Relations Officer, CSP Benjamin Hundeyin, dismissed claims questioning the legality of the policy, calling them “misleading” and a deliberate attempt to malign the image of the Police.

Citing the Motor Vehicles (Prohibition of Tinted Glass) Act, 2004, Hundeyin explained that Section 2(3a) empowers the IGP or his authorized officers to issue or approve permits for tinted glass usage. He added that Section 1(2) of the Act requires applicants to show “good cause” for approval, such as health or security needs.

“The essence of this regulation is consistent with the core mandate of the Police to prevent crimes, as the permit is a critical tool for curbing violent crimes such as kidnapping, armed robbery, terrorism, and one chance operations,” the statement emphasized.

On the issue of fees, the Police clarified that charges are processing fees used to maintain digital infrastructure for service delivery. Hundeyin noted that the Nigeria Police Act 2020 (Section 26e and f) empowers the Force to render specialized services to the public at a fee.

He also highlighted successes of the Police’s Electronic Central Motor Registry (e-CMR), which he said has facilitated the recovery of several stolen vehicles nationwide.

“The alleged claims by individuals and groups that the tinted permit policy is not legal, transparent, and constitutionally valid are not only untrue and misleading but also a calculated attempt to cast aspersions on the image, integrity, and lawful operations of the Force,” Hundeyin added.

The IGP reaffirmed his commitment to upholding the rule of law, safeguarding citizens’ rights, and maintaining professionalism in policing, while assuring Nigerians of the Police’s dedication to building a safer, more secure, and transparent system.

BBNaija 10: Big Soso Reacts to Shocking Eviction, Says She Didn’t Pack Her Bags

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BBNaija 10: Big Soso Reacts to Shocking Eviction, Says She Didn’t Pack Her Bags

Big Brother Naija Season 10 housemate, Big Soso, has described her eviction as shocking, revealing she didn’t pack her bags because she believed she was safe

BBNaija 10: Big Soso Reacts to Shocking Eviction, Says She Didn’t Pack Her Bags

Big Brother Naija Season 10 housemate, Big Soso, has described her eviction from the reality TV show as a shocking twist, admitting she never anticipated being sent home.

Speaking in an interview with Naija FM, Lagos, the reality star revealed she didn’t bother packing her luggage before the live eviction show on Sunday, as she was confident of surviving the cut.

“I was shocked when my name was mentioned. Na clothe wey I use enter, na him I use comot,” Soso said.

“I didn’t expect it. When others were dressing, I was cleaning the house to make sure everywhere was okay.”

Her unexpected exit meant she walked out of the house in the same outfit she wore on her first day six weeks ago.

Despite the surprise, Soso expressed gratitude for the opportunity, describing her time in the house as an unforgettable experience.

“I’m grateful for the weeks I spent in the house. It was a remarkable feat for me,” she added.

Big Soso was the first housemate evicted during last Sunday’s live show. Two other housemates, Ivatar and Doris, were also evicted, marking one of the most dramatic weeks yet in BBNaija Season 10. Read More

Dangote Cement Pays N3.3 Trillion Dividends in 15 Years, Pledges Africa’s Self-Sufficiency in Cement

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Dangote Cement Pays N3.3 Trillion Dividends in 15 Years, Pledges Africa’s Self-Sufficiency in Cement

Dangote Cement has paid over N3.3 trillion in dividends to shareholders in 15 years. The company pledges to make Africa self-sufficient in cement and clinker production

L-R: Group Chairman, NGX Group, Alhaji (Dr.) Umaru Kwairanga; Chairman, Dangote Cement Plc, Emmanuel Ikazoboh; Group Managing Director/CEO, Dangote Cement Plc, Arvind Pathak; Board Member, Dangote Cement Plc, Mariya Dangote; at the facts behind the figures / Introduction of Dangote Cement Plc new Board Chairman and Directors to the floor of the NGX Stock Exchange, Lagos on Wednesday 10th September, 2025
 

Dangote Cement Plc has rewarded its shareholders with more than N3.3 trillion in dividends over the last 15 years, reaffirming its position as a top-value company on the Nigerian Exchange (NGX).

This remarkable figure was unveiled on Wednesday during the company’s “Facts Behind the Figures” presentation at the NGX, where the new Chairman, Mr. Emmanuel Ikazoboh, led the management and board in engaging with stakeholders.

Ikazoboh, who recently succeeded Africa’s richest man, Aliko Dangote, as Chairman, commended shareholders for their loyalty and assured them of continued strong returns.

He said Dangote Cement remains resolute in transforming Africa by creating sustainable value for all its stakeholders, as it will do all to achieve its vision of making Africa self-sufficient in cement and clinker. 

He said: “To our investors, you have my unwavering commitment to safeguarding and growing your investment. To our regulators and market operators, you have my pledge of continued partnership and adherence to governance standards that lead rather than follow. To our employees and partners, you have my gratitude and my assurance that our collective strength will propel us to achievements we haven’t yet imagined.”

Speaking further on the future of the company, the Chief Executive, Arvind Pathak, said: “We aim to expand installed capacity to 66.4Mta by 2030, supporting our long-term vision of making Africa self-sufficient in cement and clinker production. This growth will be driven by a mix of greenfield and brownfield projects.”

He revealed that the company has commissioned the first phase (1.5Mta) of its 3Mta Côte d’Ivoire plant, while construction of the 6Mta integrated Itori Plant continues to advance steadily. In addition, the company, according to him, has announced a $400 million investment to double its production capacity in Ethiopia.

He said: “Over the past 15 years, DCP has committed more than $8.5 billion in capital investments across Africa, underscoring our long-term confidence in the region’s growth prospects.”

The Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga praised the President/Chief Executive, Dangote Group, Aliko Dangote, for his substantial contributions to the Nigerian capital market and private sector development. He said the former Chairman of Dangote Cement, who is also his mentor, has clearly shown that wealth can be created but also transferred to the public through the capital market.

Group Managing Director and Chief Executive of the Nigerian Exchange Group, Temi Popoola, also lauded the new Management and Board of Dangote Cement, noting that with Mr. Ikazoboh as the Chairman, the shareholders will surely be happy.

It would be recalled that the shareholders of the company, in its last Annual General Meeting (AGM), for the year 2024, were full of praise for the Board, Management, and staff of the company after approving a dividend payout of N502.6 billion, which translated to N30 kobo per share. 

The company, in the same vein, also significantly increased its social investments by 469.8 per cent to N3.2 billion. The corporate social responsibility (CSR) activities were in education, healthcare, agriculture, infrastructure, and economic empowerment. 

President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Faruk Umar, said the shareholders were pleased with Aliko Dangote and his team. He said that for the company to still pay a robust dividend despite the obvious economic challenges, which also affected their operations, shows the doggedness and fighting entrepreneurial spirit of the Management. 

According to him, “We are happy with this result. 2024 was very challenging due to the fluctuations in the foreign exchange market and the company’s expansion programme. But despite all these challenges, the company was still able to pay us a very good dividend and even gave us hope of better returns on our investments in the years to come. This is very commendable, and it is only a company like Dangote Cement that can achieve this laudable feat.”

Chairperson of the Pragmatic Shareholders Association of Nigeria, Bisi Bakare, also commended the company’s consistent dividend payment, noting that the Company is moving in the best way of corporate governance.

“As a shareholder and an active investor of this company, I am very happy and pleased with the performance of our company so far. The earnings are not even up to N30 per share, and for the company to still declare N30 per share dividend speaks volumes of the quality of leadership that we are lucky to have in Dangote Cement…It should also be noted that Dangote Cement is the only manufacturing company that paid the highest dividend in the year under review. So, we are happy and very proud to be part of this company,” he said. Read More

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