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2021: Dangote Cement’s commitment to climate change yields dividend
…Proposes dividend of N20.00 per share
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 N20.00 per share in the year ended December 31, 2021.
The CDP is an international non-profit organisation 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 because 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.
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.
Lagos State Governor and Chairman of the South West Governors Forum, Mr. Babajide Sanwo-Olu, on Friday, condoled with the newly appointed Chairman of the Governing Council of the University of Ibadan and former interim National Chairman of the All Progressives Congress (APC), Chief Bisi Akande, over the death of his son-in-law, Barr. Oyedele Clement Akintola.
Governor Sanwo-Olu, in a condolence message issued by his Special Adviser on Media and Publicity, Mr. Gboyega Akosile, also commiserated with Chief Akande’s daughter, Mrs. Bolaji Akintola, over the demise of her beloved husband.
The Governor said the demise of Barr. Akintola on Wednesday, at age 60, is an irreparable loss, which would have created a vacuum in the family. He prayed that God would give the immediate and extended family of the deceased, the grace to bear the great loss.
He said: “On behalf of my family, the government, and the good people of Lagos, I want to express our heartfelt condolences to the family of our leader, Chief Bisi Akande and the late Barr. Oyedele Clement Akintola on this great and irreparable loss.
“The late Barr. Akintola was an epitome of humility and uprightness, and he was a pillar of support for his wife and children. His family will miss him greatly, because of the vacuum his death has created. I urge family of the deceased, friends, and associates to take the death of Barr Akintola in good faith, knowing that he lived a fulfilled life.
“I pray that God will grant the late Barr. Oyedele Clement Akintola eternal rest and grant the family, particularly his wife and children, the fortitude to bear the irreplaceable loss.”
By Titus Atondu, Makurdi
Benue State Go Governor Rev. Fr. Dr. Hyicenth Alia has disclosed that a commission of enquiry will be set up by the state government to investigate the remote and immediate causes of the violent protest that took place in Ukum local government of the state.
Alia made the disclosure on Thursday night during a live broadcast on the mayhem that occured in Ukum local government area, reiterated his administration’s unwavering commitment to the safety of all residents of the state.
He vowed not to sit back and allow anyone or a group of persons to frustrate the peace of the State and destabilize government activities.
The governor sympathized with victims of the attack, said government was intensifying efforts in collaborating with security agencies to bring the perpetrators of the violent and criminal acts to justice as well as work on preventive measures to ensure such incident does not reoccur.
Governor revealed that combined security agents had raided the hidout of bandits in Ukum and subsequently neutralized two bandits, recovered seven motorcycle, two English pistols, a Toyota camry, and commercial tricycle and lots of charms.
He explained that as a reprisal, some bandits hit some soft target and killed six civilians at Ayati in Ukum, believing that the members of Ayati community were responsible for giving information on their operations and hidouts.
The governor further explained that the action led to an initial protest of anger and frustration by family members and women regarding the killings of their loved ones on the Ayati-Sai road down to Sankera but Regretted that the peaceful protests was hijacked by bandits and miscreants who had carefully planned to undertake and unleash mayhem on businesses and peace-loving people of Sankera.
He appealed to the people of Sankera and its environs to remain calm and exercise restraint, emphasized that his administration for the last time, extends hands of fellowship to all youths who have chosen to reside in the forests and continually launch attacks on innocent citizens.
He stressed that his government was running out of patience and shall no longer guarantee the olive leaf branch extended to them.
Nigerian NewsDirect reports that representative of Kastina-Ala, Ukum, Logo federal constituency, Solomon Wombo who was at the broadcast, thanked governor Alia for the steps taken to restore calm in the area promising to collaborate with government to find lasting solution to the insecurity in the constituency.
By Atondu Titus
Benue State Governor, Rev. Fr. Dr. Hyacinth Iormem Alia, has assured the people of Ukum Local Government Area in the Sankera axis that normalcy will soon return to the area, following an incident involving criminal elements on Wednesday.
The Governor, represented by his deputy, Barr. Dr. Sam Ode, condemned the actions as “barbaric” and reiterated that the government will not tolerate anything less than peace and security of lives and properties.
“We are committed to ensuring that peace and normalcy return to this area. The curfew imposed on the area from 6pm to 6am daily will remain in place until further notice,” Governor Alia said.
The Police Commissioner, Mr. Hassan Steve Yabanet, also reassured residents that normalcy has returned to the area, saying, “We are on top of the situation.”
The Governor’s visit to Ukum was seen as a move to show solidarity with the affected communities and to reiterate the government’s commitment to ensuring that justice is served. During the tour, the Governor’s delegation visited several locations, including Ukum Local Government Secretariat, INEC office, Government College Zaki Biam, Benue State High Court, Benue Links Park, St Paul Nursery Primary and Secondary School, Magistrate.
Sanwo-Olu commiserate with Akande over death of son-in-law
Benue Govt to investigate Ukum protest, sets up commission of enquiry
