• Home
  • About Us
  • Contact Us
Tuesday, June 17, 2025
Star Lite News
  • Home
  • News
    • All
    • Business
    Suspension

    Benue Governor Alia Suspends Chief Press Secretary Indefinitely

    EFCC

    EFCC Declares MD Of Fargo Oil Firm Wanted Over N976million Fraud

    EFCC-SunTrust SunTrust Bank Ltd.

    EFCC Arraigns Sun Trust Bank CEO, Executive Director, Halima Buba and Innocent Mbagwu Over ‘$12m Money Laundering’

    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Two Days Public Holiday For Sallah

    WAEC Candidate

    Tragedy in Ibadan: WAEC Candidate Killed by Stray Bullet During Police Chase

    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Public Holiday

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

    Netflix

    Netflix Investments Give Life To Nollywood Projects

    BBNaija

    STREEZE become the third pair of housemates to be evicted from season 9 of the #BBNaija show

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    Suspension

    Benue Governor Alia Suspends Chief Press Secretary Indefinitely

    EFCC

    EFCC Declares MD Of Fargo Oil Firm Wanted Over N976million Fraud

    EFCC-SunTrust SunTrust Bank Ltd.

    EFCC Arraigns Sun Trust Bank CEO, Executive Director, Halima Buba and Innocent Mbagwu Over ‘$12m Money Laundering’

    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Two Days Public Holiday For Sallah

    WAEC Candidate

    Tragedy in Ibadan: WAEC Candidate Killed by Stray Bullet During Police Chase

    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Public Holiday

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

    Netflix

    Netflix Investments Give Life To Nollywood Projects

    BBNaija

    STREEZE become the third pair of housemates to be evicted from season 9 of the #BBNaija show

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Business

Dangote Sugar Pays N18.22bn Dividends, To Produce 170,000 Tonnes Next Season

starliteadmin by starliteadmin
April 16, 2023
in Business
0
Dangote Sugar Refinery Plc 17th AGM
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

Despite the economic headwinds that characterised 2022, Dangote Sugar Refinery Plc (DSR) will pay N18.22 billion as dividends to shareholders for the year ended December 31, 2022, while also targeting the production of over 170,000 tonnes of sugar next season. The dividend payout will translate to N1.50 kobo per share held by shareholders.

Chairman of the Company, Aliko Dangote said: “The shareholders are very happy with the way we have been running their company and also in re-investing the profit into the Backward Integration Programme (BIP) for the sugar industry. We are going to play our part in ensuring that Nigeria becomes self-sufficient in sugar within a very short period. We are not the only players, but we will surely play our part. We should be able to produce over 170,000 tonnes which are by far, in the history of Nigeria, the highest to be produced locally.”

The company recorded an impressive turnover of N403 billion, a 46 per cent increase over N276 billion recorded during the same period in the year before, and posted a Profit before Tax (PBT) of N82 billion.

Dangote attributed the company’s remarkable performance to the pragmatic approach the management deployed by focusing on continued cost and process optimisation, improved efficiencies in every area of operations, and service delivery to our customers.

He pledged that the management would continue to implement strategic actions to sustain the performance with the support of all stakeholders with complete adherence to the tenets of the Federal Government’s Sugar Master Plan.

Dangote said part of the success recorded by Dangote Sugar was made possible by the management’s continued implementation of the Dangote Sugar Development Master Plan with the rehabilitation and upgrade of the Dangote Sugar Refinery’s Numan operations, facilities and land development, as well as the development of the Nasarawa Sugar Company Limited, the greenfield sugar project, and Tunga in Nasarawa State.

He said: “Concerted efforts were made during the year to rise above the various challenges that came about due to the COVID-19 lockdown which affected project timelines considerably and continued to generally impact economic activities due to its spill-over effect, which also led to the lack of forex to finance most of the project deliverables.
“We however continued to surge ahead supported by the various stakeholders in the industry and government parastatals, with the resolve to ensure that the goals of the Nigeria Sugar Development Master Plan are achieved.”

The Company Chairman noted that during the year under review, the first phase of the Sugar Master Plan implementation period came to an end and that the Federal Government approved the second phase over the next 10 years.

“This extension came on the back of the review of the first phase by the National Sugar Development Council and other government parastatals with cognisance of the challenges and several circumstances that were unforeseen which riddled the first phase of the programme,” he added.

Dangote stated that the board and management were, however, focused on the achievement of the goals of the strategic initiative, and thus considerable progress was recorded in the project development, despite the numerous challenges faced.
Not minding the obstacles ahead, Dangote promised that the management would continue to create sustainable value for all stakeholders through an inclusive approach to growth and development, with continuous engagement with all parties, to enable the company make a positive impact, support poverty eradication and food security, infrastructure development, empowerment for members of the immediate communities, and the society at large.

In her remarks, the Coordinator of the Pragmatic Shareholders Association, Mrs. Adebisi Bakare expressed the satisfaction of shareholders with the performance of the company, noting that despite all the encumbrances in the sugar sub-sector of the economy, the company still performed far and above the previous year.

She urged the board and the management to continue in the direction they have taken to get the company to the current winning, assuring that the management has the support of the shareholders to post even better performance in the coming years.

Photo Caption

L-R: Company Secretary/Legal Adviser, Dangote Sugar Refinery Plc, Temitope Hassan; Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; and Non-Executive Director, Dangote Sugar Refinery Plc, Abdu Dantata, at the Dangote Sugar Refinery Plc 17th Annual General Meeting held in Lagos on 14th April, 2023.


L-R: Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; and Non-Executive Director, Dangote Sugar Refinery Plc, Olakunle Alake, at the Dangote Sugar Refinery Plc 17th Annual General Meeting held in Lagos on 14th April, 2023.

L-R: Company Secretary/Legal Adviser, Dangote Sugar Refinery Plc, Temitope Hassan; Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; and Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; at the Dangote Sugar Refinery Plc 17th Annual General Meeting held in Lagos on 14th April, 2023.

L-R: Company Secretary/Legal Adviser, Dangote Sugar Refinery Plc, Temitope Hassan; Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; and Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; at the Dangote Sugar Refinery Plc 17th Annual General Meeting held in Lagos on 14th April, 2023.


L-R: Non-Executive Director, Dangote Sugar Refinery Plc, Uzoma Nwankwo; Non-Executive Director, Dangote Sugar Refinery Plc, Benedikter Molokwu; Company Secretary/Legal Adviser, Dangote Sugar Refinery Plc, Temitope Hassan; Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; and Non-Executive Director, Dangote Sugar Refinery Plc, Abdu Dantata; Independent Non-Executive Director, Dangote Sugar Refinery Plc, Maryam Bashir; Independent Non-Executive Director, Dangote Sugar Refinery Plc, Yabawa Lawan Wabi; Non-Executive Director, Dangote Sugar Refinery Plc, Olakunle Alake at the Dangote Sugar Refinery Plc 17th Annual General Meeting held in Lagos on 14th April, 2023.

Tags: Aliko DangoteChairman of the CompanyCoordinator of the Pragmatic Shareholders AssociationDangote Sugar Refinery Plc.DSRMrs. Adebisi BakareStarlitenews
Previous Post

FirstBank Announces Corporate Name Change Of Subsidiaries

Next Post

GTCO Posts N214bn As Pretax Profit In 2022

starliteadmin

starliteadmin

Related Posts

Dangote Refinery

Dangote deploys 4,000 CNG tankers to enhance distribution network nationwide for PMS and diesel

by starliteadmin
June 16, 2025
0

Dangote Petroleum Refinery is pleased to announce the commencement of a significant national initiative designed to transform Nigeria’s fuel distribution...

EFCC-SunTrust SunTrust Bank Ltd.

EFCC Arraigns Sun Trust Bank CEO, Executive Director, Halima Buba and Innocent Mbagwu Over ‘$12m Money Laundering’

by starliteadmin
June 14, 2025
0

EFCC, the Economic and Financial Crimes Commission, has arraigned the Managing Director/Chief Executive Officer of SunTrust Bank Ltd, Halima Buba,...

Dangote

My company paid N450bn in taxes in 2024 – Dangote tells Pres. Tinubu

by starliteadmin
June 8, 2025
0

President of the Dangote Group, Aliko Dangote, recently informed President Bola Tinubu that his group of companies paid a whopping...

Number Plates

Nigerians to pay more for driver’s licenses, number plates as new rates take effect June 2025

by starliteadmin
June 8, 2025
0

The cost of obtaining a driver’s license or number plate in Nigeria is set to rise, following the approval of...

Zenith Bank Plc

ZENITH BANK RECOGNISED AS NIGERIA’S BEST BANK IN THE GLOBAL FINANCE BEST BANKS AWARDS 2025

by starliteadmin
June 5, 2025
0

Zenith Bank Plc has been named “Best Bank in Nigeria” in the Global Finance Best Banks Awards 2025, winning the...

Dangote Refinery

Dangote Refinery Symbolises Hope for Africa – ECOWAS President

by starliteadmin
June 1, 2025
0

Towering over the Lekki Free Zone on the edge of the Atlantic, the Dangote Petroleum Refinery is more than just...

Next Post
GTCO

GTCO Posts N214bn As Pretax Profit In 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • Tinubu and Timothy

    Prince Chukwudi Timothy Appeals For Dialogue Instead Of Nationwide Protest

    0 shares
    Share 0 Tweet 0
  • Peter Obi says victory of Christ the King College at World Affairs Challenge heartwarming

    0 shares
    Share 0 Tweet 0
  • Family reveals Ifeanyi Ubah’s burial date

    0 shares
    Share 0 Tweet 0
  • ACEACRES24: Akmodel MD Makes Presentations At The 2Days Event (Photos)

    0 shares
    Share 0 Tweet 0
  • Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Benue Governor Alia Suspends Chief Press Secretary Indefinitely
  • RE: Clarification of N5Billion Bail Bond Signed by Fidelity Bank MD
  • Dangote deploys 4,000 CNG tankers to enhance distribution network nationwide for PMS and diesel
  • Fidelity Bank ED, Kevin Ugwuoke takes over as President of Risk Managers Association
  • Dr. Abdulhakeem Odegade Salutes Fathers as Builders of Legacy and Love
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

  • https://starlitenews.com.ng/2024/04/10/apc-chairman-ganduje-wife-son-to-be-arraigned-on-eight-count-charges-of-dollar-bribery/
  • https://starlitenews.com.ng/2024/05/29/finasteride-5-mg-sans-ordonnance/
  • https://starlitenews.com.ng/2024/04/28/dangote-cement-export-of-clinker-cement-increase-by-87-2/