. . . Feeds Vulnerable Communities, Empowers Children, Widows

As part of activities marking the 2024 Global Sustainability Week, leading Cement manufacturer, Dangote Cement Plc unveiled skills acquisition and educational empowerment initiatives during an outreach to vulnerable and deprived in communities across its business operations.

This is just as the President/Chief Executive of Dangote Group, Aliko Dangote assured all stakeholders that all his Business Units are committed to optimising their operations to contribute to the attainment of net zero within the global stipulated timeframe.

The reach out initiative, which is one of the hallmarks of the 2024 Dangote Sustainability Week themed “Business Optimisation for Net Zero – The Dangote Journey” saw Dangote Cement identifying the vulnerable groups comprising of children, widows, and the aged.

ALSO READ: Uncertainty Clouds IPMAN-Dangote Refinery Meeting On Fuel Pricing

About 250 children and 75 households benefitted from the gesture. The initiative, which was being carried out simultaneously in all the business operations of the Company in Nigeria and other locations across Africa, had the Lagos event held at Ikosi-Ketu in Kosofe Local Government Area of Lagos State.

In his remarks to kickstart the group’s Sustainability Week, Dangote said the issue of sustainability is a subject that is important, not just to the Dangote Industries, but for the future of humanity.

According to him, “As one of Africa’s largest conglomerates, Dangote is responsible for leading the way in sustainable business practices. The world is facing an urgent climate crisis, and businesses must be at the forefront of the transition to Greenhouse Gas (GHG) emission reduction and energy efficiency.”

He opined that this year’s theme conveys the company’s support for the United Nations Framework Convention on Climate Change’s goal to stabilise greenhouse gas concentrations in the atmosphere at a level that will curb human-induced interference with the climate system.

“This must happen within a timeframe sufficient to allow ecosystems to adapt naturally to climate change, to ensure that food production is not threatened, and to enable sustainable economic development. At Dangote, we started this journey with a strategic focus on the 7 Dangote Sustainability Pillars (cultural, economic, operational, social, environmental, financial, and institutional) which drive how we do business, and named – The Dangote Way,” the foremost industrialist said.

He emphasised that “in our ongoing journey towards Net Zero, we embrace this Week both as an opportunity and a challenge. It requires us to rethink the way we do business, to be willing to take risks, and to collaborate with partners across industries.”

Speaking during the empowerment programme, the Head, Sustainability at Dangote Cement Plc, Dr. Igazeuma Okoroba said the manufacturing giant has been committed to sustainability. She noted that this year’s sustainability afforded the Cement Company another opportunity “to demonstrate our love for humanity by sharing our sustainability message and showing support to the residents of our host communities.”

Represented by the Sustainability Manager, Dangote Cement, Dr. Oyelola Oyekemi, Igaezuma said, “we all know that the economic situation has contributed to an increase in households with limited access to health and sanitation, proper nutrition, education, and a safe living environment. For this year’s Sustainability Week, Dangote Cement recognises that families and children living in squatter settlements often endure hardship. The growing population of our society has also contributed to the development to the scarcity of jobs, affecting many households as well.

“While some of you work as small business owners and others are in between jobs and many do not even have the skill to help them get the jobs, these challenges limit not just adults but also children’s potentials to become responsible citizens who will transform Nigeria tomorrow,” Okoroba added.

She noted that “for this reason, Dangote Cement implements this charity outreach to support a more sustainable society. We believe your dreams and aspirations for improved health and sanitation, good nutrition, education, and clothing will come true if the private sector supports the government’s efforts. Our visit today is not only to give donations, but it also aims to pave the way for long-term developmental impacts, contributing to the UN Sustainable Goals. And the goals are, Goal 1, No Poverty, Goal 2, Zero Hunger, and Goal 11, Sustainable Cities and Communities.” According to her, contribution to these goals will create a more stable and nurturing environment that promotes family welfare and sustainable communities.

The chairman of Omojuwa Estate Community Development Association (CDA), Kinyomi Olaniewaja described the programme as timely and would benefit the community considering the present economic hardship in the country. He commended Dangote Cement for the good gesture, emphasising that it was the first time such humanitarian programme would be brought to the community.

Also in his remarks, the Grand Patron of Isokan Ifesowapo CDA, Mamuda Ibrahim showered encomium of the management of Dangote Cement for the initiatives designed to bring succour to the vulnerable ones. He then called on other organisations to emulate Dangote Cement and reach out to the less-privileged especially on special occasions such as the Sustainability Week celebrations.

The National Bureau of Statistics (NBS) has reported that Nigeria’s headline inflation rate reached 32.70% in September, marking a slight increase from the 32.15% recorded in August.

This uptick follows a brief decline in August after a sustained 19-month rise in inflation.

The latest figures show that the year-on-year inflation rate in September 2024 was 5.98 percentage points higher than the 26.72% recorded in the same month of the previous year.

Read More: Sokoto Gov’t Unveils 55% Price Reduction On Rice, Other Essentials

On a month-to-month basis, inflation increased by 0.30%, reaching 2.52% in September compared to 2.22% in August, indicating a sharper rise in the overall price level.

Food inflation continues to be a significant factor, climbing to 37.77% year-on-year, which is 7.13 percentage points higher than the 30.64% reported in September 2023.

The NBS attributed the increase in food prices to rising costs of essential items such as guinea corn, rice, maize, beans, yams, cassava, and various vegetable oils. Additionally, prices of beer, cocoa products, and dairy also saw notable hikes.

Month-on-month food inflation rose to 2.64% in September, up from 2.37% in August, driven by price increases in categories such as oils and fats, meat, beverages, and dairy.

The average annual food inflation rate for the 12 months ending in September 2024 surged to 37.53%, up by 11.88 percentage points from the 25.65% recorded in the corresponding period last year.

Aradel Holdings Plc, an integrated energy company has listed 4.34 billion shares on Nigerian Exchange Limited (NGX) Main Board.

Biztellers reports that the NGX admitted the shares on Monday, 14 October 2024.

It was gathered that the shares, listed at N702.69 per share through a ‘Listing by Introduction,’ boosted the market capitalization of NGX by N3.05 trillion, marking a significant milestone in the oil and gas sector’s participation in the stock market.

Aradel Holdings Plc, a major player in Nigeria’s oil and gas industry, operates across the entire oil and gas value chain, with business interests in the exploration, production, and refining of petroleum products.

ALSO READ: SEC, NGX Group Lead Clamour For Financial Education During World Investor Week

The listing offers investors the opportunity to engage with one of Nigeria’s most diversified energy companies, positioning it as a key entity on the Exchange.

In conjunction with the listing, was a ‘Facts Behind the Listing’ event, during which senior executives presented the company’s growth strategy and financial performance to investors and stakeholders.

Chairman of Nigerian Exchange Group, Alh Umaru Kwairanga, highlighted the importance of the listing, thus, “This achievement is not just a win for Aradel, but also a clear indication to both local and global investors that Nigeria’s capital market remains vibrant, resilient, and full of opportunities. We are honored to facilitate capital raising for companies like Aradel that play a critical role in Nigeria’s economic progress.”

On his part, Group Managing Director and CEO of NGX Group, Temi Popoola, emphasized the broader significance of the listing.

“The benefits of an equity market listing for the upstream sub-sector of the oil and gas industry is especially crucial in light of its dire capital requirements and chronic underinvestment. Aradel has come to the market at a critical time as this and we are confident that our infrastructure here at NGX, both market and technology, can unlock the capital flows needed to ensure the sector thrives,” said Popoola.

Similarly, CEO of NGX, Jude Chiemeka, echoed Popoola’s sentiments, stressing the role of NGX in supporting corporate growth and innovation.

Chiemeka noted, “Aradel’s listing highlights NGX’s ability to support leading companies in their growth journey. This is not just a milestone for Aradel, but a key moment for the energy sector, demonstrating how the capital market can fuel efficiency and development in critical industries.”

At the event, Chairman of Aradel Holdings Plc, Ladi Jadesimi, highlighted the company’s focus on innovation and sustainability, noting that Aradel is poised to expand its footprint in the renewables space while maintaining its leadership in the oil and gas sector.

“The listing of Aradel Holdings on NGX represents a pivotal moment for us,” Jadesimi started.

He added, “We are committed to driving sustainable growth in Nigeria’s energy industry, particularly in the renewables space, while continuing to excel in petroleum product exploration and refining. This listing provides us with the platform to unlock further value for our shareholders.”

On the listing, the Managing Director/Chief Executive Officer of Aradel, Adegbite Falade, said, “this will mark a historic milestone for Aradel as we list on the NGX, underscoring our commitment to creating long-term value for our shareholders and deepening our contributions to Nigeria’s economic landscape. This listing is a testament to our resilience, adaptability, and our unwavering dedication to providing sustainable energy solutions that drive growth across our communities and industries. As we embark on this new chapter in Aradel’s transformation journey, we remain focused on operational excellence, strategic expansion, and delivering returns that reflect our track record and vision for an energized future.”

Aradel Holdings Plc’s successful listing on NGX positions it to leverage the capital market for future growth, allowing the company to expand its operations and cement its role as a dominant player in both traditional and renewable energy sectors.