DANGOTE CEMENT: A Trail of broken promises

Obajana, a once sleepy town in Kogi state, is home to Africa’s largest cement company, Dangote Cement. Buried in its rusty underbelly are some of the largest deposits of raw materials required for cement production. Obajana was a beautiful bride waiting to be devoured, and Alhaji Aliko Dangote wasted no time in leading a flock…

Dangote Cement shareholders to split N145bn

Nigeria’s most capitalised company and the cash cow of Africa’s richest man, Alhaji Aliko Dangote, Dangote Cement has announced that it would distribute N144.84 billion to shareholders as cash dividends for the 2016 business year. The dividend recommendation was one of the highlights of the audited report and accounts for the year ended December 31,…

Dangote Group to invest over N53bn in rice, sugar in Nasarawa

The Dangote Group of Companies is set to invest over N53 billion in the production of rice and sugar in Nasarawa State. The President of the company, Alhaji Aliko Dangote, disclosed this on Thursday in Lafia during an assessment tour of the investment potential in the state. Dangote, who was represented by Mr Abdullahi Sule,…

Dangote’s net worth plunges by $5.4bn over Nigeria’s economic distress

Richest man in Africa and Chairman, Dangote Group, Alhaji Aliko Dangote has lost $5.4 billlion of his net-worth since this year. This was contained in data obtained, Wednesday, from Bloomberg Billionaires Index. This drop was caused by slump in commodities prices and a devaluation of the naira in June. The report put Dangote’s net worth…