Billionaires list: Dangote loses $900m in 24 hours

Dangote commits $700m to sugar production

Billionaires list: Dangote loses $900m in 24 hours   The President/Chief Executive, Dangote Industries Limited, Aliko Dangote, saw his total net worth drop by $900m on Friday as his flagship company emerged the biggest loser at the end of trading on the Nigerian Stock Exchange. Bloomberg Billionaires Index, which is a ranking of the world’s 500 richest people, showed that his wealth fell from $18.4 billion on Thursday to $17.5 billion on Friday, making him the 114th wealthiest man in the world, down from 106th the previous day. Dangote’s net…

Read more

FMDQ admits N100bn MTN, N100bn Dangote Bonds on its platform

MTN, Dangote, Bola Onadele.Koko, FMDQ

Despite the amidst economic downturn and realities of the COVID-19 pandemic, Dangote Cement PLC and MTN Nigeria Communications PLC have successfully tapped the debt market, raising the largest corporate bond and commercial papers, respectively, so far recorded in the Nigerian debt capital market. FMDQ Holdings Plc, wholly owned subsidiary, FMDQ Securities Exchange Limited admitted for listing, the Dangote Cement Plc N100 billion Series 1 Bond under its N300.00 billion Bond Programme, and for quotation, the MTN Nigeria Communications Plc N100.00 billion Series 1 & 2 Commercial Paper (CP) notes  under…

Read more

Dangote encourages shareholders to claim N3bn unclaimed dividends

Dividend, Uncalimed dividends, Dangote, shareholders

The Founder and Chairman of Dangote Group, Aliko Dangote, has asked shareholders to quickly lay hold to the sum of N3.39 billion unclaimed dividends. The business magnate made this call at the 11th Annual General Meeting of Dangote Cement which held on Monday in Lagos. The AGM was streamed virtually. A shareholder, Sunny Nwosu, reportedly brought this to the fore as he noted that some money was left untouched in the account, amounting to N3.5 billion. Nwosu then asked Dangote, who presided over the meeting, to do something about it…

Read more

Dangote Refinery: ‘Early 2021 takeoff still on track’

Dangote Refinery, Devakumar Edwin, NNPC, Dangote

The Dangote oil and gas refinery remains on track to be operational in early 2021 despite the disruption caused by the COVID-19 pandemic, Devakumar Edwin, its group executive director told the Africa Report. The impact of the delay will be “45 days max” as complete closure, which would have meant a delay of up to 90 days, has been avoided, said Edwin. There have been some staffing reductions because of the need for social distancing, but work has been continuing. Almost everything needed to complete the project has already been procured, he said. Aliko…

Read more