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Dangote Cement’s Commitment to Climate Change Yields Dividend

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Dangote Cement’s commitment to environmental disclosures and sustainability is yielding the desired results with Carbon Disclosure Project (CDP) raising its rating from C to B- even as it proposes a dividend of N20 per share for the year ended December 31,2021.

The CDP is an international non-profit organization based in the United Kingdom which runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.
CDP explained that it raised the rating as a result of the Company’s commitment to climate change. The upgrade clearly illustrates the progress made by Dangote Cement regarding commitment to transparency and mitigating its carbon dioxide footprint. This is one of the highest ratings in Sub-Saharan Africa and the only Nigeria company rated by CDP.
Chief Executive Officer of Dangote Cement Plc, Michel Puchercos, in his response to the development said: “We are pleased to be recognised for the progress that we are making in our environmental disclosures and sustainability. The CDP rating upgrade clearly illustrates the steps that Dangote Cement is taking in its commitment to transparency on climate and environmental issues.

According to him, the cement company is focused on making a positive difference, which is “why sustainability is at the core of every part of our business. In addition, our Alternative Fuel Project is at an advanced stage which aims to leverage waste management solutions, reduce CO2 emissions, and source material locally. This year, we co-processed 89,000 tons of waste representing a 60% increase over 2020.”

He added that Dangote Cement is focused on sound governance, saying, “we are leading the way with our commitment to sustainability and best practices. We are driven by the goal of achieving the highest level of governance and building a sustainable brand for all stakeholders. Transparency and consistency are at the core of every part our business culture.”

In its financials for full year ended December 31, 2021, Group sales volume for Dangote Cement stood at 29.3Mt, with Nigeria accounting for 18.61Mt while operations in other countries did 10.86Mt.

Group revenue was N1,383.6 billion for the full year, made up of N993.34 billion from Nigeria while revenue from across African plants was N397.32 billion, in contrast to the group revenue of N1,034.20 billion in 2020 which constituted of N719.95 billion from Nigeria and N318.68 billion from other African operations. Dangote Cement recorded a gross profit of N538.37 billion and after-tax profit of N364.44 billion. The directors have proposed a dividend of ₦20.00 per share.

Dangote Cement became the first Nigerian listed company to report its financial results using XBRL format with the IFRS taxonomy. Adopting XBRL reporting format will strongly benefit Dangote Cement’s existing and potential investors. It represents another step in continuing efforts to modernize and enhance transparency of, and access to, companies’ disclosures.

Dangote Cement Plc is sub-Saharan Africa’s largest cement producer with an installed capacity of 45.6Mta across 10 African countries and operates a fully integrated “quarry-to-customer” business with activities covering manufacturing, sales, and distribution of cement.

Dangote Cement has a long-term credit rating of AA+ by GCR and Aa2.ng by Moody’s due to its market leading position, significant operational scale and strong financial profile evidenced by the company’s robust operating and net profit margins relative to regional and global peers, adequate working capital, satisfactory cash flow and low leverage.

Dangote Cement is a subsidiary of Dangote Industries Limited, a diversified and fully integrated conglomerate as well as a leading brand across Africa in businesses such as cement, sugar, salt, beverages, and real estate, with new multi-billion-dollar projects underway in the oil and gas, petrochemical, fertiliser and agricultural sectors.

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Ahead Christmas, It’s Glo’s Feliz Navidad All the Way on TVCs

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Celebratory seasons, such as Christmas and New Year, are times when corporate organisations churn out new television commercials (TVCs) to connect with their customers and share the fun,  euphoria and uncommon conviviality of such seasons.

One such organization which has over the years used this strategy to great effect is Nigeria’s top telecommunications brand, Globacom.

The exciting commercials that the technology company keeps rolling out fan the delight and elation of the season of goodwill. The brand employs the occasion not only to   promote brand awareness but to felicitate its customers and the nation at large.

It is a tradition Glo has established. Since it started operations  in 2003, it has always used television commercials as veritable tools of ensuring brand presence, marketing products and services and spreading joy among its various targets.

The 2024 Yuletide adverts it rolled out recently are not different. The two unique yet powerful commercials serve dual purposes. They felicitate the Nigerian people and spread mirth, which the season typifies, around existing and prospective customers.

Expectedly, the two new  commercials have dominated the airwaves, and kept viewers talking and relishing  the joy that Christmas brings.

The first commercial features juju music maestro, King Sunday Adegeye, popularly called King Sunny Ade, who parades a full ensemble of dancers and a rich, talented band in the TVC tagged “Merry Christmas”. The percussions, rhythm and dance merge to foster affability and enchanting memories of the season of glad tidings.

Before the party celebration where King Sunny and his band entertain guests, the TVC takes viewers back to the 1970s and 1980s when Christmas was celebrated with so much fanfare. It paints a vivid picture of rural Nigeria during Christmas where the warmth of tradition and community fills the air. The village with lush green vegetation is buzzing with excitement, with children playing, women cooking delicious meals in open-air kitchens, the aroma of local dishes (you can literally perceive it) mixing with the sounds of Afro Juju music. Families and friends gather around, dancing joyfully to the rhythmic beats, their faces beaming with happiness as they celebrate the festive season. A woman bearing the Aso ebi for the party is shown coming down from a Peugeot 504 car which also reinforces the advert as being set in the 1980s.

The television commercial by the telecom company captures the essence of togetherness, blending the cultural richness of rural life with the spirit of Christmas, all while subtly underscoring the telecom brand’s role in connecting loved ones, no matter how far apart they may be. It ends with “Better don come. Merry Christmas, Nigeria” further underscoring the reason for the commercial.

The second commercial tagged “Feliz Navidad” uses a galaxy of known artistes including  Nollywood star, Timini Egbuson, as well as Uche Nwaefuna (Uchemontana), Chigozie Stephanie Alichi (Chizzy Alichi), Tomi Ojo, Eronini Osinachim, Kiki Bakare and Tope Adenibuyan (Teddy A)  to pass across the message of Christmas.

At the heart of the Christmas party, the energy is electric as tap dancers take center stage, their feet tapping out intricate rhythms that blend seamlessly with the upbeat melody of Feliz Navidad. The sound of their shoes striking the floor creates a lively pulse, complementing the lively tunes of the music band performers who bring the festive song to life with vibrant instruments and harmonious vocals. Laughter and cheer fill the air as all come together to toast the season, sharing in the joy of music, movement, and the warmth of the Christmas spirit. The scene is a vibrant celebration of culture, unity, and festive joy, all set to the timeless sounds of Feliz Navidad.

These commercials  have further endeared  the Glo brand to its subscribers and the general Nigerian public as they enjoy the geniality of the season of love, hope, gifts and celebrations.

Talking about the Yuletide commercials, Ademide Gafar, an industry watcher opined that churning out great TVCs is one of the selling points of the Glo brand while John Michael, a marketing communications expert, noted that Globacom is not just a leader in the telecommunications sector but a prominent creator of unforgettable commercials. From the nation’s pride in telecommunications, it’s Feliz Navidad-Merry Christmas!

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Court Sends Woman to Prison for Abusing Tinubu’s Son, IGP on Social Media

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Olamide Thomas, who reportedly threatened Seyi Tinubu on social media, was on Friday, arraigned before a Federal High Court in Abuja.

Olamide was arraigned by the office of the Inspector-General of Police (IGP), Kayode Egbetokun, before Justice Emeka Nwite on a three-count charge.

Olamide was alleged to have, sometime in 2024, knowingly and intentionally transmitted communication in the form of video recording through a computer system or network on her social media platforms wherein she made remarks in Yoruba language.

In the video, she was alleged to have stated: “Mr. Seyi Tinubu would die this year, and misfortune and calamity had befallen the Tinubu family, with intent to bully, threaten, harass the person of Mr Seyi Tinubu.”

The communication was said to have placed Seyi in fear of death, violence or bodily harm.

The offence is contrary to and punishable under Section 24 (2) (a) of Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act, 2024.

In count two, the defendant was alleged to have intentionally transmitted communication in the form of video recording wherein she made remarks in Yoruba Language to bully, threaten, and harass the person of Egbetokun.

The communication was said to have placed Egbetokun in fear of death, violence or bodily harm.

The offence is contrary to and punishable under Section 24 (2) (a) of Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act, 2024.

She, however, pleaded not guilty to the charge.

Olamide was arrested on allegations bordering on harassing and threatening Seyi Tinubu, Egbetokun, and the Police Public Relations Officer, Muyiwa Adejobi, in a viral social media post.

In the charge marked: FHC/ABJ/CR/636/2024 dated and filed on December 18 by the police team of lawyers led by A.A. Egwu, Olamide was sued as sole defendant.

Upon resumed hearing, Victor Okoye, who appeared for the police, informed the court that the matter was slated for arraignment and that he was ready to proceed.

After the counts were read to the defendant, she pleaded not guilty to the charge.

The defence lawyer, T J. Aondo (SAN), sought to move an oral application on his client’s behalf but the request was turned down.

Justice Nwite directed Aondo to file a formal bail application and adjourned the matter until December 30 for the commencement of trial.

The judge, however, assured the defence counsel that as soon as a bail application is filed in form of a motion on notice, the court would not hesitate to hear it.

Justice Nwite, thereafter, ordered Olamide to be remanded in Suleja Correctional Centre pending the hearing of her bail application.

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Buhari Denies Ownership of Abuja Land Revoked by Wike

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Former President Muhammadu Buhari, on Thursday, denied ownership of a piece of land purportedly allocated to him by the Federal Capital Territory Administration (FCDA) in Abuja.

Media reports indicate that Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revoked the ownership of 762 plots of land in the Maitama 1 District of Abuja, citing non-payment of statutory fees.

According to the trending reports, high-profile figures, including former President Muhammadu Buhari and former Chief Justice Walter Onnoghen, are among those affected.

The FCTA had also issued a two-week ultimatum to 614 other individuals and organisations, demanding they settle outstanding Rights of Occupancy (R-of-O) fees or risk losing their plots.
However, debunking the reports, the former President stated he is “not the owner of the said plot of land which is allocated in the name of a ‘Muhammadu Buhari Foundation.’”

In a statement issued by his media aide, Garba Shehu, in Abuja, the former President explained that he turned down the offer by the administration when it was presented to him.

The media aide further clarified: “When he and his cabinet members were invited to fill the forms and obtain land during his tenure in office, he returned the form without filling it, saying that he already had a plot of land in the FCT and that those who did not have should be given. He, therefore, turned down the offer.

“All those jumping up and down in the digital space talking about the rightfulness or the lack of it on the reported seizure of Buhari’s land in Abuja to get their facts right and stop dragging down the name of the former president.

“As with anything Buhari—and there is no surprise in this at all—there is a lot of buzz in the media on the reported seizure of a piece of land by the authorities of the Federal Capital Territory, Abuja, FCTA, allegedly belonging to the former President Muhammadu Buhari.

“Former President Buhari is personally not the owner of the said plot of land, which is allocated in the name of a ‘Muhammadu Buhari Foundation.

“The Foundation was itself floated by some utilitarian individuals around him who, it must be said, went about it in a lawful manner with the support of a number of well-meaning persons.

“But they ran into a roadblock in the land department of the FCDA, which handed them an outrageous bill for the issuance of the certificate of occupancy, very high in cost that did not at all compare with the bills given to similar organisations.

“It may have been that this was not erroneous, but a deliberate mistake, making the revocation of the land no surprise to anyone.

“As a person, the former President has a plot of land to his name in Abuja,” he added

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