Headline

Dangote Cement Is Best Performing Stock-Nigeria Stock Exchange

Published

4 years ago

May 19, 2022

Editor

Africa’s largest cement manufacturer, Dangote Cement Plc has emerged the Best Performing Stock of the Year 2021 by the Nigeria Exchange Group (NGX).

Dangote Cement which prides itself as the most capitalized company on the Nigeria Stock Exchange was named the best stock ahead of BUA Cement Plc and CAP Plc, the two other indigenous companies during the 2022 Nigerian Investor Value Award (NIVA) organized by the Businessday in collaboration with the Nigeria Exchange Group.

The coveted award meant for two classes of companies namely, the listed companies segment and the Next Bull segment with Dangote cement leading the pack in the Listed Companies best performing stock, in the Industrial goods category having been adjudged to have recorded stellar performance in creating value on the Nigeria Stock Exchange on the basis of criteria such as share price, dividend payments, sustainability, brand value, market leadership and business strategy against its peers during the period under review.

In his address on the occasion, the Chief Executive Officer, Nigeria Exchange Limited, Mr. Temi Popoola, who was represented by the Divisional Head, Capital Market, Mr. Jude Emeka said the award by the Businessday Media Limited underlined Nigeria Exchange Group’s goal of promoting actionable and effective multi-stakeholder dialogue on issues central to a well-functioning finicial system.

While acknowledging that the winner organizations are worthy and truly deserving the honour, he clarified that the winners were selected from among companies that are active and the investors have expressed strong demand to own their shares.

“As a responsible entity, known for aligning with best global practices, we recognize the importance of corporate governance and effective board leadership in driving sustainability on the business front. That is why we choose to not only recognize listed companies who are blazing the trail in investors relations but those also contributing to building a sustainable socio-economic standard in governance, regulation and compliance.

The Nigeria Exchange boss said the leveraging of investments in business innovation and its diversified range of products and services coupled with robust engagement, we re well on our way to achieving our aspiration to be Africa’s preferred exchange hub especially given the number of advances that have been implemented recently including the launch of the NGX Exchange Traded Derivates Market which saw the listing of two Equity Index Futures Contracts, NGX30 Index Futures and the NGX Pension Index Futures.

He assured that the NGX remained resolute in its commitment to the provision of a scalable and enterprising platform for issuers and investors to meet their financial objectives irrespective of the prevailing conditions.

Mr. Popoola said “we will continue to consolidate on the advances by focusing on key initiatives aimed at creating growing the capital market for the benefit of all key stakeholders.

In his address of welcome, the Publisher, Businessday, Mr Frank Aigbogun said the NIVA formerly known as the Top 25 CEOs Award recognizes leaders of private and public companies who have created sustainable alpha-generating value for their shareholders through strategic priorities, operation efficiency, organizational values and marketing engagement activities.

He explained that Covid-19 was what most companies, including Nigerian businesses never envisaged but the reality today is that Russian-Ukraine crisis has again emphasized the urgent need for backward integration and value addition to the nation’s primary produce. Aigbogun expressed happiness that the Nigeria capital market has remained strong in the mix of the global realignment that is going on consequent upon the Ukrainian crisis.

Mr. Obu Oliver, the Group Financial Controller, Dangote Cement Plc. who received the award thanked the organizers for the award and assured that the companies would not rest on its oars in sustaining the strategies that make the stock the best performing.

Headline

False and Misleading: Senator Ireti Kingibe Not Suspended, Says ADC

Published

30 minutes ago

March 12, 2026

Eric

The African Democratic Congress, ADC, has dismissed reports that Senator Ireti Kingibe has been suspended from the party, describing the claims as false and misleading.

Kingibe currently represents the Federal Capital Territory in the Senate.

In a statement issued on Thursday, the party’s National Publicity Secretary, Bolaji Abdullahi, said the ADC is not aware of any decision to suspend the senator and urged the public to ignore the circulating reports.

Abdullahi emphasized that the party has well-defined constitutional procedures for handling allegations involving its members.

“The African Democratic Congress is unaware of any suspension of Senator Ireti Kingibe, the distinguished Senator representing the Federal Capital Territory,” he said.

He added that as a law-abiding political party, the ADC follows established internal mechanisms when dealing with issues concerning its members rather than addressing such matters through media statements.

“As a law-abiding political party, the ADC has clear constitutional procedures for addressing any allegations involving its members. Such matters are handled through established internal mechanisms, not through press statements,” Abdullahi stated.

The party therefore called on the public and media organizations to disregard the reports of Kingibe’s alleged suspension.

“We therefore urge the public and the media to disregard the reports suggesting that Senator Ireti Kingibe has been suspended by the party, as they are false and misleading,” the statement added.

Headline

Tambuwal Finally Dumps PDP, Defects to ADC

Published

4 hours ago

March 12, 2026

Eric

Former Governor Aminu Tambuwal has announced his defection from the Peoples Democratic Party to the African Democratic Congress.

“I write to formally tender my resignation as a member of the Peoples Democratic Party (PDP), effective from today,” the letter stated.

Mr Tambuwal stated that the party’s persistent internal crisis, leadership disagreements, and divisions at various levels made it difficult for him to continue his active participation and commitment as a member.

“The ongoing conflicts have, unfortunately, worsened the unity and direction that once defined the party,” the former Sokoto governor stated.

Meanwhile, in a statement on X on Thursday, Mr Tambuwal said he had officially joined the ADC with his associates and supporters.

“I am convinced that this decision is guided by my belief that Nigeria needs a stronger political platform built on integrity, accountability, inclusiveness, and a clear commitment to national development.

“I remain fully committed to the service of our country and to the ideals of democracy, justice, and national unity,” the former governor stated.

Headline

Tenure Policy: India, Others Reject Tinubu’s Ambassadors

Published

1 day ago

March 11, 2026

Eric

Some countries, including India, have reportedly declined to accept a number of ambassadors recently nominated by Bola Tinubu, citing diplomatic policies tied to the remaining tenure of the sending government.

Sources within Nigeria’s Presidency and the foreign service disclosed that India has a standing practice of not accepting ambassadors from administrations with less than two years left in office.

One of those affected is career diplomat Ambassador Muhammad Dahiru, who was nominated to serve in New Delhi.

According to officials familiar with the matter, the Asian country is exercising its discretion to delay or reject the request from Nigeria’s Ministry of Foreign Affairs for Dahiru’s acceptance.

“They don’t accept an ambassador from an administration that has less than two years in office. So they are giving us that body language already,” a Presidency source said.

The development follows earlier concerns that several of Tinubu’s ambassador-designates could face resistance from host countries due to the limited time left in the administration’s current tenure.

Under diplomatic protocol, countries must grant formal approval known as agrément before a nominated envoy can assume duties. Without this consent, ambassadors cannot be officially deployed.

Officials say while India’s position is the most explicit so far, other countries may adopt similar approaches, potentially delaying Nigeria’s plan to fully restore ambassadorial representation across its foreign missions.