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2023 FG Budget Proposal: LCCI Cautions FG On New N10.57 Foreign Loan

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…LCCI commends early transmission, consideration, and signing of the federal budgets in recent times

Olushola Okunlade Writes

The Lagos Chamber of Commerce and Industry (LCCI) has cautioned the Federal Government to consider more ‘efficient alternatives’ to borrowings, rather than issuing N10.57trillion new loans to finance a deficit of N10.78 trillion, as proposed in the 2023 budget.

LCCI in a statement issued on Sunday, and signed by its Director General, Dr. Chinyere Almona, cautioned that, while a budget deficit of N10.78 trillion was not out of place, it, however, disagreed with issuing N10.57 trillion new loans, to finance the deficit.

The Chamber, therefore, called on the Federal Government to embrace equity financing, as an exclusive way of funding budget deficits; since it would save the country from paying huge interest payments.

The record 20.5 trillion Naira (or $47.3 billion) proposed expenditure by the Federal Government to run the economy in 2023 reflects the huge needs that exist in critical sectors of the economy. The proposed budget, which is 19% higher than the 2022 budget is expected to take effect from January 2023 to address economic growth, fiscal sustainability, and security.

“It must be noted however that the overall spending proposal of N20.51 trillion reduces to a non-debt spending proposal of N14.21 trillion once you deduct the proposed N6.3 trillion interest payments from the overall spending plan. So, we do not have a N20.51 trillion spending plan on the table. We only have a N14.21 trillion spending plan.”

In 2019, the Southern Swamp Associated Gas Solutions project was commissioned, and the SPDC JV is planning to reduce associated gas flaring further through its Forcados Yokri gas-gathering project, of which large parts are set to be completed in 2022. Despite such efforts to reduce continuous flaring, unfortunately flaring intensity (the amount of gas flared for every tonne of oil and gas produced) at both SPDC- and SNEPCo-operated facilities increased in 2021 owing to short-term operational issues. Flaring from SPDC-operated facilities increased by around 5% in 2021 compared with 2020. The increase was primarily because of the extended outage of the gas compression system in SPDC’s shallow-water operations. The system was restored and became operational from January 2022. Flaring at SNEPCo-operated facilities rose by around 160% in 2021 compared with 2020. This was mainly because of an increase in flaring on the Bonga floating production, storage and offloading (FPSO) vessel. Repairs to a flex-joint on the Bonga FPSO’s gas export riser in the second quarter took longer than expected, in part because of weather conditions. While repairs were under way, the FPSO continued to produce oil and therefore flaring was necessary for safety reasons. The repairs were safely concluded in July 2021. Although flaring intensity levels rose in 2021, SPDC and SNEPCo over the last 10 years have almost halved the combined amount of hydrocarbons they flare from 1.5 million tonnes in 2012 to 0.8 million tonnes in 2021. This reduction is the result of a strict flaring reduction management process and both SPDC and SNEPCo will continue to work in close collaboration with joint-venture partners and the government to make progress towards ending routine flaring of associated gas. NIGERIA LNG EXPANSION UNDERWAY Global demand for LNG continues to grow as the world increasingly seeks reliable supplies of lowercarbon energy. Shell’s investment in Nigeria’s gas infrastructure for export is expected to help 6 This is according to a data provided by global research and consultancy business Wood Mackenzie. the country benefit further from revenues. Shell Gas B.V. and its partners took a final investment decision in 2020 on a new LNG processing unit – known as Train 7 -- at NLNG. The expansion is expected to create around 12,000 jobs for Nigerians during construction and stimulate growth of the local oil and gas service sector, with 55% of engineering and procurement of goods and services being sourced in-country. Train 7 is expected to ensure Nigeria’s continued place as a global player in a lower-carbon energy source. Once operational, Train 7 will add around 8 million tonnes per annum of capacity to the Bonny Island LNG facility, taking the total production to around 30 million tonnes per annum. In 2021, NLNG began awarding procurement and construction contracts. Early works started at the site. The first phase of the worker village is expected to be ready for occupancy in 2022 and the new material offloading facility ready for use by the end of 2022. NLNG’s Train 7 is expected to come onstream in the middle of the 2020s. KEY LICENCE RENEWED FOR DEEP-WATER SNEPCo has interests in four deep-water blocks in the Gulf of Guinea, two of which it operates. Today, nearly one-third of Nigeria’s deep-water oil and gas production comes from the Bonga and the nonoperated Erha fields.6 Since production began in 2005, Bonga alone has produced more than 950 million barrels of oil with the 2021 average oil production per day at 105,000 barrels. The Bonga FPSO vessel has a total production capacity of 225,000 barrels of oil per day and 150 standard cubic feet of gas export per day. In 2021, the availability of the FPSO vessel increased to 80% from 70% in 2020. In addition to Bonga, SNEPCo’s exploration activities have led to several significant discoveries of oil and gas over the last two decades, including the Bolia and Doro fields (Shell interest 55%). Nigeria Briefing Notes Helping to power Nigeria’s economy 13 In the right investment climate, SNEPCo believes that there are opportunities to expand. In 2021 the OML 118 (Bonga) production sharing contract was renewed and the lease extended for 20 years. Bonga North and Bonga South West Aparo (BSWA) oil fields are two such potential opportunities. Bonga North is a proposed tie-back project to the existing Bonga FPSO with Phase 1 comprising 14 wells. BSWA is a development of a new FPSO with Phase 1 comprising 23 wells. SUPPORTING RENEWABLE ENERGY STARTUPS Millions of Nigerians are excluded from the country’s power grid and Shell Companies in Nigeria have established and provided substantial funding for a not-for-profit, impact-investing company called All On. Operating as an independent company, All On works to bring reliable electricity – often from renewable energy sources -- to off-grid urban and rural customers. This support aims to build a solid pipeline of viable businesses that can create the scale required to address Nigeria’s access to energy gap. In December 2019, SPDC and SNEPCo made a significant additional 10-year financing commitment of $160 million in All On, bringing the total commitment to $200 million. By the end of 2021, All On had provided investment capital to over 40 renewable energy start-ups in its portfolio – an increase of more than 30% from 2020. One such company is Infibranches Technologies Limited, to which All On has committed $2 million, which is expected to enable the indigenous technology company to expand sales of solar home systems via its more than 13,000 agent banking partners across Nigeria. With the support of the Rockefeller Foundation, the All On Hub was established in 2020 to provide nonfinancial support and build the capabilities of off-grid energy entrepreneurs. In 2021, the hub supported 81 ventures – nearly double the 41 supported in 2020. Also in 2021, All On, Odyssey Energy Solutions and the Global Energy Alliance for People and Planet launched a $10 million equipment financing facility as part of the DART pilot programme in Nigeria. 7 Hydraulic flying leads support the delivery of hydraulic fluid and/or chemicals between subsea equipment. 8 Subsea trees are an assembly of valves and other components used to monitor and control the production of a subsea well. DART will combine demand pooling, aggregated purchasing of solar equipment, and access to affordable finance to unlock economies of scale for solar companies, achieve cost savings for end-users, and accelerate the growth of the renewable energy sector in Nigeria and beyond. DEVELOPING LOCAL CONTENT AND SKILLS Shell Companies in Nigeria contribute to the growth of Nigerian businesses that can provide technical and support services to the industry. This includes the manufacture of tools and technical kits, the operation of helicopter flights in the Niger Delta, and strategic partnerships between foreign and local companies to stimulate technology transfer and capacity development. While there are government-required programmes in some areas, such as the Nigerian and Community Content Strategy embedded in the Assa North/Ohaji South gas development project, Shell Companies in Nigeria deliberately seek to contract local businesses wherever possible. In 2021, Shell Companies in Nigeria awarded $800 million worth of contracts to Nigerian-registered companies. Of these, 92% were companies with at least 51% Nigerian ownership. SNEPCo has awarded major engineering and construction contracts to companies that are indigenous, have local staff, or possess domestic capabilities in the country. At present, the manufacture and rebuild of hydraulic flying leads7 (HFLs) is being carried out in-country by wholly indigenous companies. Pressure Controls Systems Nigeria Limited, another Nigerian company, continues to refurbish old subsea trees.8 Sometimes, a lack of access to capital hinders Nigerian companies from competing for and executing contracts effectively. Shell Companies in Nigeria have provided access to nearly $1.6 billion in loans to 901 Nigerian vendors under the Shell Contractor Support Fund since 2012. These loans help improve their tendering opportunities.

LCCI also observed that the proposed revenue of N9.73 trillion does not reflect our peak revenue performance of N6trillion in 2021. It is unlikely that we are going to get that N6 trillion in 2022, as we reported only 1.6 trillion in the first four months. How we are projecting N9.73 trillion in revenue in 2023 is therefore a mystery. Even if we are lucky enough to generate the N9.73 trillion, we must also discount the N6.3 trillion projected interest payments out of it to leave us with a N3.43 trillion net revenue against the N14.21 trillion non-debt spending. This explains why the President is proposing a deficit of N10.78 trillion.

LCCI indicated that while nothing is wrong with the N10.78 trillion deficit, everything is wrong with the plan to issue N10.57 trillion (N8.8 trillion in new commercial loans and N1.77 trillion drawdown on bilateral and multilateral loans) new loans to finance the deficit, at a time that we are already placed on the watchlists of some of our foreign bondholders, and the world is still trying to process our president’s well-publicized call for debt cancelation at the last United Nations General Assembly.

“It is the exclusive use of debt to finance deficits that got us into a situation where we cannot keep the revenue we are earning today, as we use the bulk of our revenue to settle interest payments, and it is increasingly not enough to cover the interest payments. In the 2022 year-to-April, the interest payments were more than the revenue, and it is most unlikely that the revenue will be more than interest payments in the full-year 2022 or even in 2023.”

“It is comforting that the 2023 budget is still at the proposal stage. It behooves all well-meaning stakeholders to make constructive inputs to the Presidency and the National Assembly now. Can we consider more efficient alternatives to new borrowings? Can we issue equity to finance the deficit instead of using debt? Can we break from the path in which the Federal Government only approaches the debt markets at home and abroad and never approaches the equity market at home or abroad? Investors invest in debt. But they also invest in equity.”

“Our approach should not be to continue issuing only debt, especially with the increasingly unbearable burden of interest payments that exposes our fiscal vulnerability. Massive equity financing is the choice we should all urge the Federal Government to consider now. Nigeria should henceforth use equity financing as an exclusive way of funding budget deficits. If we embrace equity financing, we do not have to make huge interest payments, and we can use some of the proceeds of our equity issuance to pay some of the down debt, make the fiscal situation more sustainable and rekindle much-needed confidence in our economic and fiscal resilience.”

LCCI stated that is not too late to use equity to fund the 2023 deficit proposal. The current administration should be encouraged to take advantage of the equity choice to bequeath a legacy that the incoming administration can build upon as we find our way back to the path of fiscal sustainability as a nation.

LCCI commends the early transmission, consideration, and signing of the federal budgets in recent times. Just like in 2022, the Federal Government transmitted the 2022 budget to the National Assembly on the 7th of October 2021.  The 2022 budget, titled “Budget of Economic Growth and Sustainability” valued at N17.126 trillion, was transmitted to the President by the National Assembly, on Friday, December 24, 2021. We expect to see an earlier transmission by the National Assembly and signing into law earlier than last year.

“It is commendable to note the strategic objective of the expenditure policy which focuses on macroeconomic stability, human development, food security, improved business environment, energy sufficiency, improving transport infrastructure, and promoting industrialization by focusing on Small and Medium Scale Enterprises.”

Beyond the figures and policy statements contained in the 2023 Federal Government budget, the Chamber wishes to highlight some recommendations for implementation:

  1. We can improve the performance of the 2023 budget by studying how the 2022 budget has performed so far, looking at what has worked well, what failed, and what must be corrected in the implementation of the 2023 budget.
  2. Governments at all levels must put actionable policies in place to address the high costs of fuel and food. The high rate of inflation will continue to distort most of the budget assumptions and targets if not curtailed.
  3. Particular attention must be put on investing more in transport infrastructure in resolving the many logistical challenges that have impacted the movement of goods across the nation.
  4. Looking beyond oil revenues, we can enhance our forex earnings through the increased inflow of foreign direct investments. We need to invest more in infrastructure and critical port reforms to reduce the bottlenecks in our export logistics and processes that will boost non-oil production and exports.
  5. The allocation of N470billion to revitalize tertiary institutions and enhance the salaries of university staff is commendable and at least a show of concern about the plight of the university community in recent times. However, we must accept that the current funding model for our universities is not sustainable in the face of the many revenue challenges being tackled by the government. A more sustainable way is to grant financial autonomy to the universities with a new emphasis on equity investments for infrastructure.
  6. In addressing the most significant components of human development, we urge governments at all levels to remain consistent in funding education, health, infrastructure, and security. One-off funding cannot address the decay in these areas within a year. It must be a practice and tradition of seeking robust equity funding for these areas consistently.
  7. It is now obvious to us that we may not even be able to source debts from foreign investors as in the past. Many factors have diminished our debt ratings, and this should push the government to consider immediate issuance of wholesale equity investment at home and abroad to fund idle assets to finance the deficits instead of borrowing more.

We must immediately block revenue leakages by curbing oil theft, pipeline vandalization, and trimming excessive fuel, power, gas, and forex subsidies, as well as massive tax and duty waivers to lift revenue to N20 to N30 trillion thresholds from the present N6 to N10 trillion thresholds.

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Economy

30 Host Community Youths Graduate Enjoy Dangote Electrical Training Empowerment Program

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1 day ago

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March 23, 2023

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30 Host Community Youths Graduate Enjoy Dangote Electrical Training Empowerment Program

… Ibese Plant donates solar-powered Borehole

 

No fewer than 30 youths from communities around Ibese in Ogun State have graduated from a training program put together by Dangote Cement Plc, Ibese Plant as a way of transforming society and providing employment opportunities for the youths.

 

The empowerment program which afforded the youths the opportunity to be trained on domestic electrical installation, wiring, and maintenance is aimed at accelerating the social and economic development of host communities and is in line with the United Nations Sustainable Development Goal.

 

In the same vein, the Cement plant commissioned a solar-powered Borehole in Abule Oke in Yewa North Local Government, Ogun State in fulfillment of its promises made to the communities during its Community Day celebration last December.

 

The youths were also presented with start-up tools for immediate commencement of their vocation after the training which was put in place by the Ibese Plant in partnership with Industrial Training Fund (ITF).

30 Host Community Youths Graduate Enjoy Dangote Electrical Training Empowerment Program

General Manager, Human Assets Managemnet/Admin, Alh. Abu Sufyan (left) exchanging pleasantries with the Baale of Abule Oke, Chief Ramon Akinsanya at the Commissioning and Handover ceremony of a Solar Powered Borehole donated by Dangote Cement to Abule Oke community to the admiration of HRM Oba Lukmon Kuoye, Olu of Imasayi (2nd left) and Plant Director, Dangote Cement Plant Ibese, Mr. Azad Nawabuddin (2ND right).

Addressing the beneficiaries at the closing ceremony of the program, the Dangote Cement, Ibese Plant Director, Mr. Azad Nawabuddin, described the empowerment initiative as a demonstration of the Company’s commitment to the continued socio-economic development of the host communities in line with the Community Development Agreement signed in 2022.

 

According to him, the Company’s social development strategy “does not support giving people fish to eat but focuses on teaching people how to fish saying the Company was being proactive by engaging the community members, especially the youths with so much energy and vigour.  “Rather we empower them to be self-sufficient and self-reliant”.

 

Mr. Azad reeled out past empowerment initiatives of the Plant aimed at reducing unemployment gaps in the local communities and ultimately improving the standard of living, which include training in catering and event management, tailoring and fashion design, and Acutherapy, from which 275 indigent youths have so far benefitted.

 

He commended the beneficiaries for their determination and zeal to learn new skills to better their lives and urged them to apply the technical and entrepreneurial knowledge garnered during the training in building sustainable businesses while committing to continued development of their skills and expertise in line with global trends.

30 Host Community Youths Graduate Enjoy Dangote Electrical Training Empowerment Program

Plant Director, Dangote Cement, Ibese, Mr. Azad Nawabuddin (2nd right) presenting starter packs to one of the beneficiaries while the GM, HAM/Admin, Alh. Abu Sufyan(right) and Deputy Area Manager, ITF, Ogun State, Mrs. Funmi Coker (left) watch.

The Deputy Area Manager, Industrial Training Fund Abeokuta Area Office, Mrs. Funmi Coker, commended Dangote Cement Plc Ibese Plant for devoting resources to develop the capacity of the Youths in relevant trade areas to make them useful for themselves and their immediate communities. She further appreciated the Company’s consistent collaboration to achieve the Nation’s training objectives, while charging other corporate bodies to follow suit.

 

Mr.Dayo Ogunyinka, the Vice Chairman of the Community Joint Consultative Committee also expressed delight for the Company’s annual empowerment initiative. He enjoined the beneficiaries to see the gesture as a life-changing opportunity with the capability to take them to the pinnacle of success and ensure that the starter packs received are used for the intended purpose.

 

One of the beneficiaries, Ms. Elegbede Ganiyat, from Iboro host community appreciated Dangote Cement for considering it worthy to invest in the development of the youths and described her experience during the training as enriching and everlasting. She assured that the beneficiaries have been well prepared to carve a niche for themselves in the electrical services market in their locality and beyond.

 

Meanwhile, the Cement Company has handed over a multi-million naira solar-powered borehole to the people of Abule-Oke, a host community at a ceremony witnessed by the Olu of Imasayi, Oba Lukman Kuoye; the Baale of Abule Oke, Chief Ramoni Akinsanya other community leaders, youths, women and other indigenes.

 

Speaking during the hand-over, the Plant Director, Mr. Azad Nawabuddin emphasized the essentiality of water to the survival of humans and advised the community to make good use of the borehole facility and put up a framework to ensure its security, maintenance, and sustenance as their equity contribution to the project.

 

The Olu of Imasayi commended the Management of Dangote Cement for “being the transformer illuminating the entire Yewaland’’ while acknowledging the commitment of the Company to improving the standard of living of people in its host communities. He charged the people of Abule Oke to ensure that the borehole facility is sustained such that coming generations can benefit from the project, as only the judicious use of the facility can encourage the Company to invest more in infrastructural developments in the community.

 

The people of Abule Oke were full of gratitude to the Company for the provision of the water facility, as expressed by the youth leader, Mr. Rafiu Akinola who declared that the intervention was timely and value-adding, especially considering the fact that it is powered by Solar thus saving the community of the cost of fueling and maintenance of the generator.

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Oramah To Give Insight Into Africa’s Economic Transformation At CIBN Anual Lecture

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March 23, 2023

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Oramah To Give Insight Into Africa’s Economic Transformation At CIBN Anual Lecture

By Olusola Okunlade 

There is a strong indication that the economy may be heading towards further economic growth, as His Excellency, Professor Benedict Okey Oramah, CON, FCIB, President and Chairman Board of Directors, African Export-Import Bank (Afreximbank) will be discussing critical issues that will give further insights into the economic transformation of Africa at the 2023 Annual Lecture of The Chartered Institute of Bankers of Nigeria, CIBN scheduled for Wednesday, March 29, 2023, 10:00 am at the Grand Banquet Hall, Civic Centre, Ozumba Mbadiwe Road, Victoria Island, Lagos.

The theme of the Lecture is “Unlocking the Constraints to Africa’s Economic Transformation: Insights into the Power of Capital” and will be facilitated by Professor Oramah who is the Guest Speaker of the event.

The CIBN Annual Lecture is a public enlightenment program aimed at keeping members of the public constantly abreast of topical economic issues and policies of government at the national and international levels. This year’s edition of the Lecture will assemble chieftains of the banking and finance industry, top public officials, foreign diplomats, members of the academia, top executives of the organised private sector as well as other stakeholders in the Nigerian economy who will dimension and articulate clear strategies on how to address the impediments to Africa’s economic development.

In a bid to ensure that Nigerians from all walks of life benefit from the conversation, the Institute has made the program free of charge for participants.

Over the years, the event has attracted globally respected scholars and professionals such as Honourable Justice Emmanuel Ayoola, CON, (Rtd), the Chairman, Independent Corrupt Practices & Other Related Offences Commission (ICPC); Professor John C. Anyanwu, former Lead Research Economist, African Development Bank; the late Professor Dora Akunyili, Director-General, National Agency for Food and Drugs Administration Control (NAFDAC); Sir Ademola Benjamin Aladekomo, Founder and Chairman, CHAMS Plc; Dr. Andrew Hilton, Director and Joint Founder, Centre for the Study of Financial Innovation(CSFI) United Kingdom; Professor Osita Ogbu, OON, former Minister of National Planning and Chief Economic adviser to the President of the Federal Republic of Nigeria; Dr. Akinwunmi Adesina, CON, President, African Development Bank; Mr. Michael Lafferty, Founder and Chairman, the Lafferty Group; Professor Kingsley C. Moghalu, Professor of Practice in International Business and Public Policy at the Fletcher School of Law and Diplomacy at Tufts University and the Founder of Sogato Strategies LLC; Mr. George Lewis, Chairman and Portfolio Manager, Royal Bank of Canada(RBC); Professor Melvin Ayogu, ACIB, Fellow, Mapungubwe Institute of Strategic Reflection, South Africa among others.

To ensure that this year’s event is unique and impactful, the Institute has set up an Implementation Supervisory Committee, chaired by Mrs. Nneka Onyeali-Ikpe, FCIB, Managing Director/Chief Executive Officer of Fidelity Bank Plc. Other members of the Committee are Dr. Adaeze Udensi, Managing Director, Titan Trust Bank; Dr. Ozoemena Nnaji, Director, Trade and Exchange, Central Bank of Nigeria; Mr. Abubakar A. Bello, Managing Director/Chief Executive, Nigerian Export-Import Bank (NEXIM); and Mr. Ekene Uzor, Special Assistant to the President on Banking and Strategy, African Export-Import Bank (Afreximbank).

Ken Opara, Ph.D., FCIB, President/Chairman of Council, CIBN is the Chief Host of the occasion while Akin Morakinyo, HCIB, Registrar/CE, CIBN is the host of the Occasion.

 

 

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‘Women Play Crucial Roles In Dangote Group Success Story’- Fatima Aliko Dangote

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March 15, 2023

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IWD: ‘Women Play Crucial Roles In Dangote Group Success Story’- Fatima Aliko Dangote

Executive Director, Commercial, NASCON Allied Industries, Fatima Aliko Dangote has revealed that the Dangote Group has invested in innovative technologies and processes to achieve gender equality and empowerment of all women in the organisation.

 

Besides, Fatima disclosed that women are playing pivotal roles in the success story of the Dangote Group. To drive transformative change, she said the company is implementing the policy of continuous improvement in its production processes with state-of-the-art production facilities, which are already being managed by women.

 

Speaking while opening the International Women’s Day Conference in Lagos and Dangote Cement Plc, Obajana Plant, Fatima noted that the company, through its Learning Management System (LMS), offers employees a variety of resources and opportunities that help them advance their professional and personal development.

 

According to her, these learning and development offerings cover vast focus areas and are provided via on-the-job, classroom, and online learning platforms, to both permanent and temporary employees across all cadres, in the Group’s Nigerian and Pan-African operations.

“At the plants, we have the Gamma Neutron Activation Analysis (PGNAA) for online analysis, robotic laboratory, and fully automated central control room system equipped with Human Machine Interface technology (HMI) and innovative solutions to drive resource efficiency, process optimisation and mitigate the environmental footprints of our products while delivering quality products that meet the needs of our esteemed customers,” she added.

 

Fatima explained that Dangote Women’s Network through this year’s theme has provided a unique opportunity to holistically examine the theme of innovation and technology from a gender perspective.

 

“We are inspired by our superheroes in STEM, and we hope this session increases your awareness of innovation, technology, and digital education, driven by women for women, and learn advancements in digital technology that address how we rethink our daily lives and achieve our personal and professional goals.

“I would like to encourage our women with a few tips on leveraging technology, Equipping yourselves academically and technically, be inspired and inspire others by creating opportunities for regular interactions with female STEM champions and leaders and tapping into opportunities for hands-on experience in the form of volunteering”, she added.

 

Speaking also, Co-Founder/COO Piggy/Vest NG, Odunayo Eweniyi said technology plays a key role and can support women in their daily responsibilities either as a mother or as a worker.  She said it’s never too early to introduce girls to technology and that supporting their passion early can lead to meaningful careers in the future.

 

She urged the Dangote Cement Group not to relent in its Gender Balance Policy, especially as it relates to encouraging qualified women in the business of cement production.

 

Chief Enterprises Business Officer, MTN Nigeria Mrs. Lynda Saint said women’s condition can be improved through innovative technology. She encouraged parents to expose their female children to science and technology as the world has embraced technology and innovation in every aspect of the organisation.

 

Giving a vote of thanks at the end of the conference, Group Chief Human Resources Officer at Dangote Industries Limited, Nglan Niat commended the speakers for sharing their valuable thoughts and insights with the Dangote team.

 

“Today marks International Women’s Day 2023, a day set aside to take stock and reflect on how far we have come in tackling gender disparity and also to recognise how much we must go to achieve equality and equity in our workplace. Having female representation at all levels of the company is essential as it contributes to a good working environment and better quality of work. That is what we are striving to achieve. The technology industry has been male-dominated, so we need to work harder to ensure that women are properly supported,” she added.

 

Chairperson of the Dangote Women Network at the DCP Obajana, Mrs. Fatima Kabir Ikunaiye said the Network began operation in 2017, and since then it has carried out several interventional programmes in the cause of women. Some of the programmes, Mrs. Ikunaiye said include: support for orphanages and vulnerable homes, sensitisation and empowerment of women as well as training them on skill acquisition.

 

 

 

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