Dangote Increases Cement Sales By 6.2% To 20.8Mt As It Embraces Alternative Fuel To Cut Cost
For the third quarter of 2022, the Management of Dangote Cement has recorded an increase in the overall volume of cement sales by 6.2 percent to 20.8metric tons. This was achieved despite the elevated inflation that is due to a very volatile global environment.
To further increase the supply of cement across its operational base, the company has also commissioned its power plant at Okpella and is progressing well to deploy grinding plants in Ghana and Cote d’Ivoire.
Chief Executive Officer of Dangote Cement, Michel Puchercos, who disclosed this while presenting the third quarter results to the Nigerian Stock Exchange, over the weekend, further explained that “To mitigate the impact of the significant increase in energy and AGO costs, we are strengthening our efforts to ramp up the usage of alternative fuels. So far this year, we have co-processed 101,553 tonnes of waste representing a 77% increase over 9M 2021. We are on track to commission our Alternative Fuel feed system at Obajana lines I and V, and Ibese line II in November. In addition, we are ramping up our investment in Compressed Natural Gas (CNG), to reduce our AGO usage”
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To that end, he explained that the company recorded an increase in revenue of ₦1,177.3B, up 15.2% compared to last year, and Group EBITDA of ₦515.9B, up 0.2% with an EBITDA margin of 43.8%”
Dangote Cement, it would be recalled is Africa’s leading cement producer with nearly 51.6Mta capacity across Africa. A fully integrated quarry-to-customer producer, it has a production capacity of 35.25Mta in its home market, Nigeria.
Obajana plant in Kogi state, Nigeria, is the largest in Africa with 16.25Mta of capacity across five lines while the Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta. The Gboko plant in Benue state has 4Mta while the Okpella plant in Edo state has 3Mta.
Through recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into an exporter of cement serving neighbouring countries.
Police Warn Mischief Makers
The Lagos State Police Command has uncovered plans by some groups of persons to take advantage of the new Naira notes scarcity to unleash violence in some parts of the State.
The Command hereby warns these groups to shelve their planned violence or have the full weight of the law to contend with.
Lagos State residents and visitors are enjoined not to panic as the Police, in conjunction with other security agencies, embark on confidence-building patrols across the Lagos metropolis.
In the meantime, all law-abiding Lagosians are encouraged to go about their lawful duties without any fear of harassment or intimidation as the Command has ensured optimal deployment of human and operational resources towards guaranteeing their safety and security.
SP BENJAMIN HUNDEYIN, anipr, mipra
POLICE PUBLIC RELATIONS OFFICER
LAGOS STATE COMMAND
Fidelity grows profit to N52 billion for FY 2022
Fidelity Bank Plc has announced an impressive growth in Profit Before Tax to N52 bn for the Full Year 2022. This was made known in the Bank’s unaudited statement of account presented to the Nigerian Exchange (NGX) on Wednesday, 31 January 2023.
According to the regulatory filing, the bank grew Gross Earnings by 33.9% to N335.897 billion (from N250.774 billion in FY 2021) and Net Interest Income by 61.1% to N152.813 billion (from N94.877 billion in FY 2021) leading to a Profit After Tax of N47.163billion for FY 2022 (from N35.579billion in FY 2021).
Similarly, Total Assets for the Bank now stand at N3.999trillion (from N3.289trillion in FY 2021) and Deposit from Customers is now at N2.591trillion (from N2.024trillion in FY 2021).
Analysts posit that this is yet another strong showing for the tier-one bank having sustained impressive performance year-on-year even in the face of the headwinds in the economy. Despite growing its Gross Earnings at an impressive rate, the bank has managed to record one of the lowest Non-Performing Loans (NPL) ratios in the Nigerian banking industry, for instance.
Worship4Change to Raise N75m for Indigent Children with Special Needs, Holds Benefit Concert Oct. 4 in Lagos.
Worship4Change, a leading not-for-profit organization in Nigeria will on October 3, 2022, hold ‘Green Worship 5.0’, a benefit concert organised to raise awareness and support for indigent children, orphans and children with special needs. The annual concert, which is in its 5th edition, will hold at Pistis Conference Centre (Elevation Church), Lekki, Lagos, starting at 3PM.
The Convener and Chief Responsibility Officer, Worship4Change, Pastor Wale Adenuga, announced this at a pre-concert media parley at The Gateway, Iganmu Lagos on Thursday.
According to Pastor Adenuga, this year’s Concert Benefit will have in attendance leading gospel acts from Nigeria and United States, including Nathaniel Bassey, Dunsin Oyekan, Panam Percy Paul, Bob Fitts, Moses Bliss, Victoria Orenze and 121 Selah.
Green Worship 1: The Founder of Puresouls Learning Foundation, Mrs. Dotun Akande; The Convener and Chief Responsibility Officer, Worship4Change, Pastor Wale Adenuga; and Founder, Cerebral Palsy Kids Learn Foundation, Tobiloba Ajayi, during the press conference to create awareness for this year’s ‘Green Worship 5.0’, a benefit concert in support for indigent children, orphans and children with special needs, organised by Worship4Change, in Lagos on Thursday
Other artistes billed for the five-hour long concerts are Gaise Baba, Sinmidele, Psalmos, Mairo Ese, Folake Umosen, Kng James, Chigozie Wisdom and Laolu Gbenjo..
Adenuga who called on interested individuals and corporate organisations to register to attend at https://worship4change.org/, said that one key additional feature to this year’s event is that “we are not just focusing on the event day for donations, we are earmarking the entire month to receive, solicit for and receive donations.”
He named the beneficiaries of this year’s benefit concert to include A.I.M. Special Children Centre, Kaduna, Puresouls Learning Foundation, RECDOT Foundation, The Leprosy Mission Nigeria, The Let Cerebral Palsy Kids Learn Foundation.
“in addition to taking donations at this year’s benefit concert, we are making the October a month of giving and our hope is that this campaign will enable us to raise robust support for the children we seek to help,” Adenuga said.
Green Worship 2: The Founder of Puresouls Learning Foundation, Mrs. Dotun Akande; The Convener and Chief Responsibility Officer, Worship4Change, Pastor Wale Adenuga; and Founder, Cerebral Palsy Kids Learn Foundation, Tobiloba Ajayi, during the press conference to create awareness for this year’s ‘Green Worship 5.0’, a benefit concert in support for indigent children, orphans and children with special needs, organised by Worship4Change, in Lagos on Thursday
He called on corporate organisations, individuals and kind-spirited Nigerians to support the cause by attending the free concerts and donate generously towards meeting the objectives, adding that “We plan to surpass what we raised last year by raising N75 million. This amount will go a long way in meeting the needs of the five selected beneficiaries for the Green Worship 5,” Adenuga noted.
The Founders of two of the beneficiaries who were in attendance at the Press Conference praised the efforts of Worship for Change, noting that its intervention remains the biggest of such support they have received over the years.
The Founder of Puresouls Learning Foundation, Mrs. Dotun Akande, whose foundation engages and supports indigent children living with autism, took time to appreciate the efforts of Worship4Change, and called for media support through enlightenment and highlighting the challenges faced by children with special needs.
Green Worship 3: The Founder of Puresouls Learning Foundation, Mrs. Dotun Akande; The Convener and Chief Responsibility Officer, Worship4Change, Pastor Wale Adenuga; and Founder, Cerebral Palsy Kids Learn Foundation, Tobiloba Ajayi, during the press conference to create awareness for this year’s ‘Green Worship 5.0’, a benefit concert in support for indigent children, orphans and children with special needs, organised by Worship4Change, in Lagos on Thursday
Also, the founder, Let Cerebral Palsy Kids Learn Foundation, Tobiloba Ajayi, who herself lives with Cerebral Palsy (CP) shared how her foundation has engaged with over 500 families with children that have CP.
“We have been able to get over a hundred children living with CP mainstreamed in to schools and we have also trained teachers and had their capacity to engage with these special children enhanced. We are convinced that with the support of Worship4Change, we will reach more homes, touch more lives and bring smiles to the faces of hundreds of indigent children living with CP,” Ajayi said.
With respect to this year’s event, Mr. Adenuga said, “in addition to taking donations at this year’s benefit concert, we are making the October a month of giving and our hope is that this campaign will enable us to raise a more robust support for the children we seek to help.”
Over the years, Worship4Change has raised and disbursed over N75 million to 34 charity institutions, thereby directly impacting thousands of underprivileged children across Nigeria.
In 2021, Leprosy Mission, Farid Centre, Godswill Orphanage and Irede Foundation were beneficiaries of Green Worship concert, receiving N1.8 million each.
Chief Responsibility officer, Worship4Change
Tel: 0802 317 6420