Aliko Dangote’s cement group reports highest-ever 9M revenue, profit surges above $670 million
It is the largest figure since the leading cement group commenced operations about 40 years ago.
Skip to content
It is the largest figure since the leading cement group commenced operations about 40 years ago.
The Nigerian billionaire has received $1.6 million in dividends from the company since the start of 2021.
Unforeseen glitches extended the project handover deadline, which was originally scheduled for March.
The half-billion-dollar gain can be attributed to sustained investor buying interest.
Kaduna State Governor Nasir el-Rufai has accused the Nigerian government of getting in the way of the project.
Dangote said: “If the national sugar master plan is followed … the country will be better for it.”
Anonymous sources claim that the company is potentially looking to raise $500 million from traders.
Between Aug. 24 and Sept. 15, Dangote’s net worth declined from $18.2 billion to $18 billion.
Dangote Cement is a subsidiary of Dangote Industries Limited, Africa’s most diversified manufacturing conglomerate.
The refinery will have a capacity of 650,000 barrels per day.
The rise in their collective and individual wealth marks a recovery from a sharp decline last year.
The issuance reflects Dangote Cement’s continued interest in engaging fixed-income investors.
There are 2,755 billionaires in the world today. Only 17 are Black.
The announcement follows a move by the Central Bank, naming the company one of the country’s sole three sugar importers.
The sugar refiner has a 1.44-million-metric-tonne refining capacity, making it Nigeria’s largest sugar producer.
The profit represents a 51.9-percent growth when compared with last year’s figures.