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Tag: Mrs. Bisi Bakare

  • GTCO Shareholders Laud Highest Dividend Payout of N12.76 kobo for 2025FY

    GTCO Shareholders Laud Highest Dividend Payout of N12.76 kobo for 2025FY

    The shareholders of Guaranty Trust Holding Company Plc (GTCO) have commended the management of the financial institution for the highest dividend payout of N12.76 kobo in the Nigerian banking sector for the 2025 financial year. 

    The shareholders at GTCO’s 5th Annual General Meeting (AGM) lauded the Group’s impressive 2025 financial year performance and its meeting of the Central Bank of Nigeria (CBN)’s N500 billion new minimum capital requirement. 

    Speaking at the AGM, the President of the Nigerian Shareholders’ Solidarity Association, Chief Timothy Adesiyan, expressed excitement about the management dividend payout for 2025FY, stressing that the board has demonstrated discipline in sustaining its dividend payout to shareholders.

    Another shareholder, the Chairman, Pragmatic Shareholders Association of Nigeria (PSAN), Mrs. Bisi Bakare, lauded the management for paying shareholder N12.76 kobo total dividend payout in 2025, she noted that GTCO makes history as the first Nigerian bank to reward shareholders with N12.76kobo dividend payout, urging the management to maintain such a gesture.

    The management of GTCO had declared an interim dividend of N1.00 per share for the half-year ended June 2025 and a final dividend of N11.76kobo for the 2025 financial year, bringing its total dividend to N12.76kobo for the 2025 financial year. 

    Responding to shareholders, the Board Chairman of GTCO, Suleiman Barau, said over time, the Group has evolved from a single-line banking institution into a broader financial services ecosystem encompassing banking, payments, funds management, and pension administration.

    “This diversification is not simply a structural change; it represents a strategic effort to build an institution that can serve customers more comprehensively while creating multiple engines of sustainable growth.

    “A diversified ecosystem allows the Group to operate with greater balance across economic cycles, reduces concentration of risk, and broadens the value proposition we offer to individuals, businesses, and institutional clients,” he said.

    He noted that the continuing management’s discipline underpin its risk culture. “In an environment where macroeconomic conditions remain fluid across many markets, maintaining a healthy balance sheet and strong credit practices is essential,” he said.

     He added that “The Board remains deeply committed to ensuring that the Group’s growth is anchored in careful risk assessment, responsible lending practices, and robust internal controls. “Ultimately, what defines a strong financial institution is not simply its performance in favourable conditions, but its ability to remain stable, trusted, and relevant through periods of uncertainty.

    “The durability of our performance reflects years of careful institution-building, disciplined leadership, and shared commitment across the organisation to long-term value creation,”Barau added.

    The Group Chief Executive Officer,   GTCO, Segun Agbaje, stated that 2025FY was a year of deepening this integration. “Across our Banking, Payments, Asset Management, and Pension businesses, we leveraged data, digital tools, and operational insight to create frictionless experiences for our customers across Africa and the United Kingdom.

    “By connecting our personal and business solutions, we are able to extend the reach of each business line while amplifying the value delivered to customers,” he said.

    He expressed that 2025 would be remembered as a landmark year in GTCO’s growth and expansion journey with the successful listing of its shares on the London Stock Exchange.

    “This historic achievement makes GTCO Plc the 1st Financial Services Institution in West Africa to list its ordinary shares on the London Stock Exchange’s (LSE) main market for listed securities, strengthening our capital base and enhancing liquidity for shareholders,” he said.

    Looking to 2026, Agbaje expressed that “GTCO execution discipline will remain our defining advantage. By integrating our ecosystem offerings, deepening customer engagement, and leveraging platform-driven solutions, we will continue to create meaningful experiences and long-term impact for individuals, businesses, and communities.

    “Technology continues to enhance operational efficiency, customer experience, and insight-driven decision making, while a robust balance sheet and disciplined capital management provide the flexibility to act decisively across market cycles.

    “In a landscape shaped by macroeconomic and geopolitical uncertainties, GTCO enters 2026 confident, resilient, and focused.

    “Our ecosystem is stronger, our ambition greater, and our commitment unwavering. Fellow Shareholders, the next chapter of GTCO promises to be as historic as the last, and we are grateful for your continued trust and partnership.”

  • AGM: Dangote Cement promises higher returns, value to shareholders, stakeholders

    AGM: Dangote Cement promises higher returns, value to shareholders, stakeholders

    Chairman of Dangote Cement Plc, Aliko Dangote has guaranteed shareholders and other stakeholders of the company’s management’s resolve to keep the company profitable by leveraging on strategic innovations to continuously grow their investments.

    Speaking at the 14th Annual General Meeting (AGM), of the company in Lagos, Dangote said the prospects for the cement company remain bright as the management will continue to innovate on quality products delivery to millions of its customers across Africa while touching the lives of its host communities.

    He stated: “We will continue to make sure that we keep our shareholders happy, not only the shareholders but all our other stakeholders… Our strategy remains steadfast, focused on organic growth in Nigeria and Pan-Africa while ensuring that Africa’s regional integration becomes a reality. We will continue to contribute to improving regional trade within Africa by building plants across West and Central Africa, guided by our vision of making the region cement and clinker self-sufficient. In addition, we aim to deliver higher returns and value to our shareholders.”

    The Chairman pointed out that despite the challenging macroeconomic environment in 2022, the company still made great strides, performed admirably, and remains Africa’s largest and leading cement producer.

    Dangote explained that in the face of unexpected challenges in 2022, the company implemented robust cost reduction strategies to manage the inflationary environment, and thus enhanced its competitiveness while maintaining high levels of product quality and customer service delivery.

    According to him: “In addition, we achieved giant strides in transitioning to cleaner energy, with our cost containment initiative propelling the use of Alternative Fuel (AF) to replace more expensive fossil fuels, such as coal and gas. We also increased our trucks’ use of Compressed Natural Gas (CNG) due to the rising diesel cost environment.

    These efforts have helped us reduce our cost base and enhanced our flexibility, enabling the Company to respond more effectively to changes in the market. As a result, we recorded revenue and EBITDA growth of 17.0 per cent and 3.5 per cent from the prior year respectively, albeit under unprecedented inflationary pressure. We also achieved a profit after tax of ₦382.3 billion, up 4.9 per cent compared to 2021.”

    Analysing the 2022 year-end result, Dangote explained that the company achieved its highest revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) in history at ₦1,618.3 billion and ₦708.2 billion, respectively. The exceptional EBITDA, according to him, was supported by its numerous cost containment measures, substituting higher-cost fuel for cheaper alternative fuel products.

    The Company Chairman explained that: “Over the last twelve years, volumes have grown by a double-digit compound annual growth rate of 11.2 per cent. Similarly, EBITDA has grown at a compound annual growth rate of 16.3 per cent, over the same period, implying a five-fold increase and revealing a true growth story.

    “Accordingly, we closed the year with a profit after tax of ₦382.3 billion and an Earning per Share (EPS) of ₦22.27. Despite these accomplishments, we are not resting on our laurels. We recognise that the business environment remains volatile, so we will continue to evolve with the changing times while embracing technological advancement,” he added.

    Speaking on the Company’s Annual Reports, Mrs. Bisi Bakare, Chairman of the Pragmatic Shareholders Association, commended the management of Dangote Cement for its doggedness during the year under review for still being able to exceed the shareholders’ expectation in view of the inclement economic weather under which companies operated in the country.

    She explained that the shareholders were happy for the returns, pointing out that it only means that the company was living up to its billing as the largest in Sub-Saharan Africa, adding that if not for the resilience of the management, the company would not be able to post such an impressive performance in 2022. 

    Mrs. Bakare alluded to the successful listing of the N300 billion series bond by the Company, saying the company succeeded largely due to the confidence reposed in the company and its management by the investing public. “It is not all companies that could record such a feat given the huge amount involved and the biting economic situation”, she stated.

  • Shareholders associations knock Kogi Govt, say action on Dangote Cement, dangerous for investment

    Shareholders associations knock Kogi Govt, say action on Dangote Cement, dangerous for investment

    Group of Shareholders Associations in Nigeria have urged the Federal Government to urgently intervene and prevail on the government of Kogi State to stop further harassment of investors in Kogi State.

    They described as barbaric the use of thugs to embarrass investors, such as meted out on Dangote cement and other companies located in Kogi State, noting that such unsavoury development will strongly discourage both local and foreign investments into the country.

    It would be recalled that the Government of Kogi State last week, at the instance of the state governor, Yahaya Bello, invaded Dangote Cement, Obajana plant with over 500 armed members of the state’s security outfit, the Vigilantes, shot 27 staff and wounded several others.

    President of the Association for the Advancement of the Rights of Shareholders, Dr. Umar Faruk, while speaking on the development criticised the State Government for being so insensitive to its populace, thousands of whom are depending on the Dangote Obajana plant for their means of livelihood. He said it is unfortunate that someone who has championed investment, worth billions of Naira into a state in Nigeria, is being treated this way.

    He called on the Federal Government to, as a matter of urgency, caution the Governor of Kogi State to be more civilized and professional in its dealing with Investors in the State. According to him: “Why should the governor of a state in Nigeria, mobilized vigilantes to seal a publicly quoted company? The same Governor did exactly the same thing to First Bank, making the bank close some of its branches in the state. Is that not executive rascality, using the state assembly to commit such an atrocious act?

    “Federal Government should swing into action by protecting investors, else, the efforts being made to attract both foreign and local investors will come to naught. I hope the state realizes that Dangote Cement has foreign shareholders. What impression do you want these people to have of our government? I also urge the Federal Government to fish out those thugs, used by the State, for prosecution, so as to serve as a deterrent to others…This action will lead to loss of revenue, even for the Government, in terms of taxes, and erode the shareholder’s value.”

    In the same vein, founder of the Independent Shareholders Association of Nigeria (ISAN) and President of Boys Brigade Nigeria (BBN), Sir Sunny Nwosu said a reasonable state government would have gone to court against any publicly quoted company rather than resort to a barbaric and ruthless method of chasing workers with guns and cutlass in the civilized age.

    “What the Kogi State Government did, honestly was very bad and disappointing. How can a state use vigilante with guns and cutlasses against a company that is feeding thousands of its people? A reasonable government should have gone to Court and not taken laws into its hands.

    “This action is bad and will smear the image of both the Federal and State government. It will also affect the ranking of ease of doing business in Nigeria. Kogi is blessed with so many natural resources, but with the attitude of this government, I doubt if any reasonable investor, either local or foreign, will want to do anything with the state anymore”

    The President, Pragmatic Shareholders Association, Mrs. Bisi Bakare said: “As an investor, we are not happy about the way things are going. If the State has problems with Dangote Cement on tax issues or any issue at all, there are a far better-civilized ways of handling it than sealing a factory that is contributing more than 30 percent of the cement Nigerians are consuming.

    “The governor should realize that his position is transient and that the people of his state, whom he has deprived their means of livelihood will always remember him for bad! Can you imagine the number of people that will be out of jobs and the huge revenue loss to the government, the company, and us, the shareholders? The state, to me, has done a very grave mistake and the earlier the company is re-opened the better.”

    Recalled that the Organised Private Sector (OPS) operators under the aegis of the National Association of Chambers of Commerce, Industries, Mines and Agriculture (NACCIMA) have lent its voice to the ongoing spat between Dangote Cement and Kogi state government which culminated into the closure of the Obajana plant of the Cement company. 

    NACCIMA expressed regret that the issues between the company and the state over tax disputes ought not to have led to sealing of the company but should have been resolved in a conciliatory and amicable atmosphere.

    The body, in a statement signed by its Director-General, Olusola Obadimu, and issued in Lagos, said the state government should have trodden a path of caution and called for the immediate reopening of the factory for normal production activities to resume. 

    Obadimu stated that NACCIMA’s position was based on some key considerations bordering on the impact of the factory’s closure on the economy and thousands of people whose means of livelihood depend on the production activities of the factory. 

    “It is vital to note that it is a huge production plant that supplies key domestic input (cement) into the economy and employs hundreds of thousands of Nigerians, directly and indirectly. This is aside from its substantial budget for corporate social responsibility outside of taxes. 

    “Shutting off the factory does not necessarily help the controversial issue of compliance on tax remittable to Kogi state government. Rather a continuous operation of the plant would more likely facilitate a faster resolution of the dispute,” he said. 

    The NACCIMA boss then urged that the factory be reopened as quickly as possible to enable it to continue its operation and fulfil its necessary responsibilities, not just on tax obligations, but also keep the hundreds of thousands of Nigerians in its direct and indirect employment dutifully engaged; while sustaining its crucial services not just to the people and government of Kogi State but Nigeria in general. 

  • Dangote Sugar Refinery Reiterates Commitment to FG’s Backward Integration policy

    Dangote Sugar Refinery Reiterates Commitment to FG’s Backward Integration policy

    …Rewards Shareholders with N12.147bn Dividend

    Dangote Sugar Refinery Plc has restated its commitment to the achievement of Sugar Backward integration projects, describing it as the best thing that happened to the sector.

    Speaking to shareholders at the 16th Annual General Meeting (AGM) of Dangote Sugar Plc, in Lagos, the Chairman of the Company, Aliko Dangote, said that despite the harsh operating environment, the board and management were not deterred in the pursuit of sustainable growth for the company and demonstrated resilience by continued implementation of its strategic objectives during the year, 2021.

    The dividend pay-out of N12.147 billion for the year was unanimously approved by the shareholders.  The dividend represents N1.00 per share.

    The Company under review posted a Group turnover of N276 billion, being 29 percent increase over N214 billion in the comparative year. Profit before tax of N34.021 billion, profit after tax of N22.052 billion. Group EBITDA decreased to N46.5 billion with an EBITDA margin of 18 percent.

    According to Dangote, the Company’s performance during the year under review is commendable amidst the challenges and the negative impact of COVID-19 pandemic on economic activities. “We furthered the implementation of process optimisation, cost savings, and product promotion strategies with the launch of our new brand identity and the pursuit of the Dangote Sugar Backward integration master plan” 

    He further stated that the Board and Management will continue to implement strategic actions to sustain and surpass this performance while engaging with all stakeholders in the sector and its communities to ensure the realisation of the objectives of the Company.

    On the company’s backward integration project, Dangote chairman emphasized that the goal of Dangote Sugar Backward Integration Projects Master plan remains the achievement of 1.5 million MT annually from locally grown sugar cane in support of the quest for sugar sufficiency in the country by the federal government. 

    He added that this will be achieved in addition to the extended value chain benefits that will be derived from the projects including thousands of jobs that will be generated in the sector from these projects.

    He pointed out that despite the challenges faced in the year 2021, Dangote Sugar Numan Operations rehabilitation and expansion efforts of the factory and field are advancing, saying “The community issues that came up were effectively managed, and we have continued to advance so far without any major disruptions.”

    He also noted that “In 2021, our commitment to building a sustainable business remained on track with the principles of good corporate governance. We imbibed best practices, environmental and impact management in the day-to-day running of our business.”

    He assured of the company’s commitment to the achievement of Sugar Backward integration projects, which is the future of the industry in Nigeria, saying this will keep us on our sustained growth path and we will continue to deliver and improve our quality service while delivering value to all stakeholders.

    Also, the Group Managing Director/Chief Executive officer of Dangote Sugar, Mr. Ravindra Singhvi said that “We remained ahead of the pack in implementation of the National Sugar backward Integration Development Master Plan.”

    He however said that the situation at the Lau/Tau project is still the same, “we continue to remain hopeful that the Taraba State government will resolve the lingering issues with the communities, while we focus on the development of other brown and green field project sites…Steady progress is now being made as we continue the rehabilitation and expansion project at Dangote Sugar, Numan, and development activities at the Nasarawa Sugar Company Limited, Tunga.” 

    Singhvi stated that the Company remains resolute and committed to ensuring a sustainable future for its business while assuring the shareholders of better days ahead.

    The shareholders commended the Company’s performance for the year under review. A shareholder, Mrs. Bisi Bakare, commended the company for the food fortification award received for the year under review and the bountiful dividend paid.

    Another shareholder, Mr. Patrick Ajudua, also expressed satisfaction with the dividends declared particularly at a time like this with the various environmental operating challenges.

    He charged the management to improve upon the capacity utilization of the plant to be better positioned to meet local and export needs.

  • Shareholders thumb up NASCON’s good performance, despite pandemic

    Shareholders thumb up NASCON’s good performance, despite pandemic

    …wins haulage company of the year

    Shareholders of NASCON Allied Industries Plc, a subsidiary of Dangote Industries Limited (DIL) have commended the food seasoning company over its impressive performance in the year ended December 31, 2021, in spite of the harsh economic operating environment just as the company emerged the best haulage company of the year.

    Speaking during the NASCON’s Annual General Meeting (AGM) held at the weekend in Lagos, a representative of the shareholders, Mrs. Bisi Bakare said the performance reflects the ability of the management of NASCON to steer the company through difficult times, especially in the face of lack of power, fluctuating exchange regime and dwindling purchasing power of consumers.

    She expressed the belief that the overall performance of the Company was a reflection of its Seven sustainability pillars adopted by NASCON and which are geared towards ensuring that the company connects with all stakeholders.

    Another shareholder, Mrs. Adetutu Siyanbola in her remarks said that the NASCON Transport Team section should be commended as indicated in the financial report, for winning the best haulage company of the year out of the 684 companies that enrolled for the Road-Transport-Safety-Standardization-Scheme of the Federal Road Safety Corps.

    She pointed out that the company has over the years imbibed a culture known for taking good care of shareholders through the consistent payment of dividends adding that despite the harsh operating environment occasioned by the global economic downture, the company still paid a dividend of 40 kobo per share.

    Adding his voice to the commendation, respected shareholders’ rights’ activist, Sir Sunny Nwosu, lauded the board and management of NASCON for their ability to declare and pay dividends despite the harsh operating environment which resulted from the Apapa Wharf gridlock and the downturn in national economy. He said that while other companies are lamenting and cutting down on production, the company is paying dividend which is commendable.

    Responding, the acting Managing Director, NASCON, Mr. Thabo Mabe said the company is not resting on its achievements but is moving from street to street, market to market and shop to shop, introducing its array of products to consumers.  He said that as a company in the fast-moving consumer goods sector, the management team had developed plans and strategies to capture more share in chosen markets and will gradually deploy them in the coming months.

    A peep into NASCON’s annual report for 2021 indicated that profit before tax, rose from N3.9 billion to N4.3 billion while net profit was N2.97 billion.

    National Salt Company of Nigeria (NACON) was established as a salt refinery at Ijoko, Ogun State in 1973, in a joint venture between the Federal Military Government of Nigeria and Atlantic Salt & Chemical Inc. of Los Angeles, California, USA.

    The Company was privatised in 1991 with its shares listed on the Nigerian Stock Exchange in October 1992, through which Dangote Industries Limited purchased majority shares. Following the reverse takeover of NASCON by Dangote Salt Limited (DSL) in 2007, NASCON acquired the assets, liabilities and business undertakings of DSL.

    Principal activities of the company include processing of raw salt into refined, edible and industrial salt. NASCON is also into the production of seasoning and vegetable oil.