Connect with us

Business

Dangote Sugar Boosts Its $700m Investment; Increases Numan Sugar Plantation By 179% To 24,200 Hectares

Published

on

Dangote Sugar Boosts Its $700m Investment; Increases Numan Sugar Plantation By 179% To 24,200 Hectares

Olushola Okunlade Writes

President of the Dangote Group, Alhaji, Aliko Dangote, has announced that the Dangote Sugar Refinery (DSR) Plc is significantly scaling up its investment in the sugar sub-sector in line with the requirement of the Nigeria Sugar Master plan (NSMP).  

Speaking at the Flag off Ceremony of the 2022/2023 Crushing Season and Outgrower Scheme Awards in Numan, Adamawa State, Dangote said the company is making massive investments in Adamawa State through the expansion of DSR Numan sugar refining capacity from 3,000 tons of cane per day (tcd) to 6,000 tcd, 9,800 tcd and to 15,000 tcd.

Noting that increasing the sugar refining capacity will require a corresponding increase in sugarcane production capacity, he revealed that the company has concluded plans to increase its sugar plantation from the current land area under cane production of about 8,700 hectares in 2022 to about 24,200 hectares within the next 7 years. He also assured that the company will double its scholarship and empowerment schemes in its host communities. 

“We will continue to introduce more initiatives to support our host communities. Through these initiatives and our numerous Corporate Social Responsibility activities which are numerous to mention, DSR Numan will be able to touch the lives of the people, bringing social, economic, and infrastructural development to our host communities.” 

Dangote Sugar Boosts Its $700m Investment; Increases Numan Sugar Plantation By 179% To 24,200 Hectares
Left-Right: Group Managing Director, Dangote Sugar Refinery Plc, Ravindra Singhvi; Chief of Staff to the Adamawa State Governor, Prof. Maxwell Gidado; Hon. Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo; Deputy Governor of Adamawa State, Crowder Seth and President/CE Dangote Industries Limited, Aliko Dangote at the Flag-off ceremony of 2022/2023 Crushing Season and Outgrower Scheme Awards at Dangote Sugar Refinery in Numan, Adamawa State yesterday.

He said: “We are thus committing over $700 million to our investment in the Backward Integration Programme (BIP) to enable us to put in place needed infrastructure for the eventual commencement of full-scale production,” he said.  

Dangote further assured that Dangote Sugar will change the trajectory by making Nigeria self-sufficient in the sector.  

Already, the company noted that it has spent billions of naira in developing infrastructural facilities for host communities.   

Speaking, also at the event, the Minister of Industry, Trade, and Investment Otunba Adeniyi Adebayo described the Dangote Refinery as the biggest contributor to the sugar development stride of the Federal Government.  

The Minister also commended Aliko Dangote and the Management staff of Dangote Sugar for their massive support through the company’s corporate social responsibility scheme which he said should be highly commended.  

He said Agencies under his ministry will partner with the company to provide the technical know-how that will support the Dangote empowerment schemes in the host communities.  

In the same vein, Governor of Adamawa State, Umaru Fintiri who was represented by his Deputy Crowther Seth said he was amazed by the social-economic transformation carried out by the Dangote Group, adding that it is monumental. He assured the company of the support of the state government and enjoined other corporate bodies to imbibe Dangote’s spirit of job creation across the country. 

Dangote Sugar Boosts Its $700m Investment; Increases Numan Sugar Plantation By 179% To 24,200 Hectares
Left-Right: President/CE Dangote Industries Limited, Aliko Dangote congratulates the overall winner of the outgrower scheme, Christiana Rufus with Group Managing Director, Dangote Sugar Refinery Plc, Ravindra Singhvi; at the Flag-off ceremony of 2022/2023 Crushing Season and Outgrower Scheme Awards at Dangote Sugar Refinery in Numan, Adamawa State yesterday.

Speaking on behalf of the traditional rulers, Hama Bachama   Dr. Daniel Shaga Ismail described Dangote as God-sent and pledged that his people would continue to support the company.  

Aliko Dangote further announced a Free Education for all the students of Dangote Sugar Refinery High School, among other scholarship winners announced.   

The overall best Outgrower farmer, Christiana Rufus thanked the company and promised not to relent in her effort. 

Six farmers mostly women emerged as the overall best farmers in the contest. 

Business

Sterling One Foundation Wins CSR Award of Excellence

Published

on

Sterling One Foundation Wins CSR Award of Excellence

Olushola Okunlade Writes

Sterling One Foundation has won AS+A Communications’ Award of Excellence for Corporate Social Responsibility in recognition of its positive impact across Nigeria.

As part of its annual award ceremony and commemoration of its Managing Director’s 70th birthday, AS+A Communications awarded the Sterling One Foundation its Corporate Social Responsibility Award of Excellence at an event held in Lagos recently.

The award presented by the company’s Managing Director, Mrs. Adenike Shobanjo, was in recognition of the foundation’s developmental legacies in the areas of health, education, and environment, in partnership with its corporate partner, Sterling Bank.

Mrs. Shobanjo during her opening remarks explained that her company hosts this annual event because of how important it considers social impact work and the role that corporate organizations play in ensuring that the transformation it brings is widespread and has long-term effects.

While presenting the award to Sterling One Foundation, she applauded the efforts of Sterling Bank in setting up the Foundation and empowering them to make a lasting impact in society.

She further charged businesses operating in the country to prioritize corporate social responsibility for the development of the nation.

In her words, “There are influential, well-placed, and endowed Nigerians who sit in their closets without any care for the underprivileged. This event is to encourage them to come out and join us in building a just and egalitarian society.”

“This award is in recognition of all the successes that Sterling has achieved over the years as a socially responsible organization, most especially in areas of health, education, and agriculture,” said Shobanjo.

Accepting the award, the CEO of Sterling One Foundation, Mrs. Olapeju Ibekwe, thanked the organizers while stressing the organization’s focus to contribute to the achievement of the Sustainable Development Goals (SDGs), as a way of improving the livelihood of Nigerians and Africans living in underserved communities.

She said that Sterling One Foundation’s focus areas; education, health, climate action, gender equality, and food security are all critical areas that require urgent attention for progress to happen.

She went on to highlight that; “In 2023, the Sterling One Foundation plans to focus on expanding its education programs to reach more out-of-school children, train and fund at least 100,000 youths, plant 10 million economic trees and adopt key primary health centers in at least 10 states through key partnerships.”

Continue Reading

Business

Promoting Private Sector Investments; IFC Visits BUA Cement HQ In Lagos

Published

on

Promoting Private Sector Investments; IFC Visits BUA Cement HQ In Lagos

By Moninuola Sulaiman

Abdul Samad Rabiu, CFR, CON, Chairman, and Founder of BUA Group today received a delegation from the International Finance Corporation led by Sérgio Pimenta, Regional Vice President for Africa, at the BUA Cement HQ in Lagos State.

Left-Right: Abdul Samad Rabiu, Chairman, BUA, in a discussion with Sérgio Pimenta, Regional Vice President for Africa, International Finance Corporation (IFC) during a working visit of the IFC to BUA Cement HQ in Lagos.

Continue Reading

Business

E-Commerce Trends In Nigeria For 2023

Published

on

E-Commerce Trends In Nigeria For 2023

Olushola Okunlade Writes

The rise of digital commerce has given birth to new ways for e-commerce retailers to improve their businesses and deliver an exceptional customer experience.

This is due to the industry’s constant adaptability to meet new demands and opportunities to create a seamless shopping experience by offering consumers a wide variety of products and services and finding new ways to connect with consumers through digital storefronts.

As a business owner or someone involved, staying current with market trends is critical to capitalize on upcoming opportunities and lessen the impact of potential disruptions.

Over the last three years, e-commerce has significantly grown, pushing millions more consumers to shop online. In 2023, the e-commerce industry is set to slowly take over the world, as revenue in the market is projected to reach US$9.02 billion in 2023.

Here are some of the most significant and disruptive e-commerce trends that could be adopted to enhance customer experience while also expanding businesses:

The Rise of Social Commerce

A trend that is expected to gain momentum in 2023 is the use of social media for e-commerce. Many businesses in Nigeria are already using platforms like Facebook and Instagram to sell their products, but this trend is expected to increase in the coming year as social media is a powerful tool for reaching potential customers and building brand awareness. Businesses that take advantage of this trend will be well-positioned for success.

The Rise of Omnichannel

Shoppers are no longer limited to a single device or channel as they research products, compare prices, complete a sale seamlessly across channels, and flip between devices without losing their place in the purchase journey. According to the National Communication Commission (NCC), 89% of internet users make purchases online, with another 24% planning to do so in the near future.

This trend has led many e-commerce platforms, like Jumia, to ensure that their channels can be accessed regardless of the platform or channel. As a result, consumers can log in to their accounts through the app or website on any device of their choice. This ease of shopping is expected to contribute to an increase in online sales.

Seamless Payment Options

Nigeria’s economic policy is gradually shifting towards cashless payment, with digital and electronic banking being implemented nationwide. Furthermore, following the announcement of the new withdrawal limit by the Central Bank of Nigeria, more transactions are expected to be conducted electronically.

This demand for electronic transactions has attracted payment facilitators from all over the world as Nigeria’s online commerce and financial technology industries are strengthened by a fast-growing youth population, expanding consumer power, and increased smartphone penetration. This is especially important for small businesses that use payment solution providers to ease the payment process for their customers. Payment Solutions Service Providers, like JumiaPay, can take advantage of these opportunities in the market.

Beyond this, payment solution providers, like JumiaPay, would also benefit from offering services for electricity bills payment, TV subscriptions, and airtime/data recharge to their consumers.

Consumer Personalization

Another important trend in 2023 is the increasing use of artificial intelligence and machine learning in e-commerce. These technologies can help businesses personalize their customer interactions, improve the accuracy of their recommendations, and make more informed decisions.

Personalizing a customer’s online shopping experience is crucial to increasing online sales and bolstering e-commerce success. Users are growing weary of algorithm-powered interfaces instead of user-generated or user-inspired interfaces and longing for tailored and customized experiences. Customers want to believe someone is paying attention to them behind a computer screen. It doesn’t have to be anything elaborate; it might be as straightforward as a customized email, a carefully chosen discount code, or something else.

Overall, the e-commerce industry in Nigeria is expected to see significant growth in 2023, driven by rising smartphone adoption, a growing middle class, and government support. Businesses that are able to keep up with these trends and adapt to the changing market will be well-positioned for success in the coming year.

Continue Reading

Trending