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Dangote completes issuance of N187.6bn Series 1 fixed rate senior unsecured bond

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Dangote Tackle forex shortage with sugar

By Edozie Obasi-Eze

Dangote Industries Limited (DIL), one of the leading, diversified and fully integrated conglomerate in Nigeria and Africa, on Tuesday announced the successful completion of its ₦187.6bn Series 1 Bond Issuance (the “Transaction”).

Biztellers reports that this is the largest corporate bond ever issued in the history of the Nigerian capital market

This landmark transaction represents the first issuance by DIL at Group level and comprises of a 7-year Tranche-A bond issued at 12.75 per cent and a 10-year Tranche-B bond issued at 13.50 per cent, under the newly established NGN300 billion Debt Issuance Programme

It was gathered that the bond issuance was well received by the market, which saw it attract participation from a wide range of investors including domestic pension funds, asset managers, insurance companies and high net-worth investors.

In a statement, the Dangote Group averred that “DIL plans to utilize the net proceeds from the Series 1 bond issuance to part-finance the Dangote Petroleum Refinery Project, an Integrated Petrochemical Complex, and the largest Single Train Petroleum Refinery in the World.”

Standard Chartered Capital & Advisory Nigeria Limited acted as the Lead Issuing House and Bookrunner on Transaction, while Meristem Capital, Stanbic IBTC Capital, Vetiva Capital, Absa Capital Markets, Afrinvest Capital, Coronation Merchant Bank, Ecobank Development Company, FBNQuest Merchant Bank, FCMB Capital Markets, Greenwich Merchant Bank, Quantum Zenith Capital, Rand Merchant Bank Nigeria and United Capital acted as Joint Issuing Houses.

READ ALSO: Safe Driving: FRSC Commissions Dangote Truck Driving School

On the significance of the Transaction, Olakunle Alake, Group Managing Director of Dangote Industries, said, “Dangote Industries is delighted to have successfully conducted its debut issuance under our newly established Debt Issuance Programme. We are very pleased to have set this remarkable milestone, showcasing the depth and liquidity of the Nigeria Debt Capital Market. The success of this transaction further demonstrates investor confidence in our credit story and the appreciation of the work done by the Group across several key sectors that are crucial to the development of the continent. The proceeds from this landmark transaction will be used to part-finance the Dangote Petroleum Refinery Project which is the initiative by the Group to establish the largest refinery in Africa, thus positioning Nigeria as a net exporter of refined crude. We want to specially thank the investor community for their support on this transaction, as well as our various advisors and stakeholders.”

Similarly, Executive Director, Corporate, Commercial and Institutional Banking, Nigeria & West Africa, Standard Chartered, Olukorede Adenowo said, “On behalf of the Issuing Houses, we are proud to have led this historic transaction which reflects the strong credit quality of the issuer as well as the resilience of the Nigerian domestic debt capital markets, despite the current global market volatility. We thank the Board and Management of the Dangote Group for continuously striving to develop the domestic debt capital markets and setting records through its various issuances both at the subsidiary and Group levels. We also thank the Securities & Exchange Commission, Nigerian Exchange Limited (“NGX”) and FMDQ Securities Exchange Limited (“FMDQ”) for their unwavering support throughout this entire process.” The Bond notes will be listed on the NGX and FMDQ.

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Content Creation Can Buy 4 Lamborghini’s – Comedian Josh2Funny Reveals

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Nigerian comedian and popular skit maker, Chibuike Josh Alfred, known by his stage name Josh2Funny, has shed light on the profitability of the content-creating industry.

In a recent interview with Echo Room, Josh2Funny highlighted the impressive financial potential that content creators can achieve, noting that it is possible for them to comfortably afford multiple luxury cars, including up to four Lamborghini vehicles.

Speaking candidly, Josh2Funny emphasised that content creation has become an extremely lucrative field due to the constant demand for fresh and engaging material. “If you want to buy four Lamborghini from content creation, you can buy it,” he said.

His remarks underscore the significant revenue opportunities available in the digital content landscape.

Josh2Funny explained that the continuous consumption of online content is what drives its profitability. “What do you think we are doing in the content-creating industry? Are we joking? You all are with your phones, when you’re in the bathroom, when you’re [using the restroom], you’re consuming our stuff. It’s like pure water,” he stated.

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The comedian further elaborated that businesses or industries that deliver products consumed on a daily basis often see the most substantial financial returns. Content creation, with its high rate of daily consumption by audiences worldwide, aligns perfectly with this model.

“People are out there, consuming our content every time,” he said, reinforcing the idea that the reach and influence of content creators have never been more extensive.

Josh2Funny’s insights reveal why the content-creating industry has become a lucrative career path for many in Nigeria and around the world. With the continuous growth of social media platforms and the public’s insatiable appetite for entertainment and relatable content, creators are finding new and innovative ways to monetize their craft.

This shift not only highlights the potential for significant financial gain but also showcases the evolving landscape of digital media, where influencers, comedians, and skit makers can turn creativity into a sustainable and highly rewarding business.

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NIVEA Black & White Invisible Roll On Deodorant Batch No. 93529610 Not On Sale in Nigeria

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A safety alert notification by the National Agency for Food and Drug Administration and Control (NAFDAC) in Nigeria issued on October 31, 2024, regarding NIVEA BLACK & WHITE Invisible Roll-on deodorant (50 ml) batch number 93529610, in relation to the general European Union (EU) Rapid Alert System for Dangerous Non-Food Products (RAPEX), has come to our attention.

The batch is said to contain 2-(4-tert-Butylbenzyl propionaldehyde (BMHCA).

In a statement on Saturday, in Lagos, Beiersdorf, the owner of NIVEA brand, assured that the “the Batch No. 93529610 in question has not been marketed in Nigeria and thus never recalled”.

According to the statement, Beiersdorf was well informed that “Based on current European legislation, the use of ingredient 2-(4-tert-Butylbenzyl propionaldehyde (LilialTM) in cosmetic products has been banned from the European markets as of March 1, 2022.”

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It acknowledged that “The batch in question, in fact, expired in January 2022 and was hence at the time fully compliant with the then valid European cosmetic regulation.

“As a responsible corporate citizen, Beiersdorf is working collaboratively with NAFDAC to safeguard the interest of the Nigerian consumers by ensuring that our locally manufactured product meets the global quality standards.”

It maintained that “The safety of our consumers remains our highest priority, consistent with our ethical philosophy as a business.”

In pursuit of this commitment, Beiersdorf’s entire NIVEA product portfolio formulations have been reformulated to be Lilial-free formulas in full compliance with the EU Regulation on cosmetic products well ahead of its Lilial ban coming into effect as far back as March 1, 2022. For instance, the formulation of NIVEA BLACK & WHITE Invisible Roll-on deodorant has been Lilial-free since at least 2020 across the globe, including Nigeria.

“Our trade partners were informed ahead of time and reminded of their responsibility to remove the outdated Lilial-containing products within the legal timeframe to fulfill their obligations with the European Cosmetic Product Regulation,” it added.

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Shell, NNPC Ltd, Others Gift Three Universities ICT Centre, Digital Library

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The Shell companies in Nigeria teamed up with the Nigerian National Petroleum Company Limited (NNPC Ltd) and other stakeholders to build Information Communication Technology (ICT) centres and a digital library in Nigerian universities in 2024.

Biztellers reports that it initiative is part of their continuing support for education.

Some of the corporate bodies that executed the projects include the Shell Nigeria Exploration Production Company Limited (SNEPCo) and NNPC Ltd, and the Nigerian Content Monitoring and Development Board (NCDMB).

The benefiting institutions were, the Niger Delta University, Amassoma, Bayelsa State, which got a digital library in April, the Sa’adu Zungur University (formerly Bauchi State University), Gadau in Bauchi State, where an ICT Centre was commissioned in July, by The Shell Petroleum Development Company of Nigeria Ltd (SPDC) as part of the Joint Venture with NNPC, TotalEnergies and NAOC.

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In what would sound like singing-off on the educational intervention initiative for 2024, the Federal University of Technology, Owerri (FUTO), overflew with joy at the unveil of a world-class engineering design studios and ICT hub, courtesy of the SPDC, NNPC Ltd and other Joint Venture partners collaborated with NCDMB.

Reflecting on the three facilities, Country Chair, Shell Companies in Nigeria, and Managing Director, SPDC, Osagie Okunbor, said, “This is Shell working to power lives in Nigeria. The projects have changed the academic and physical landscapes in the three universities and linked the students and lecturers to the global learning arena.”

The facilities at FUTO include two state-of-the-art engineering design studios and a fully furnished 100-seater ICT lecture hall, equipped with computers and smartboards with dedicated power and water supplies. FUTO was selected for the project as part of the “institutional strengthening” in the catchment area of SPDC’s Assa North Ohaji South Gas Development Project. They were launched at a colourful ceremony attended by representatives of the Imo State Government and principal officers of the university.

Imo State Governor, Hope Uzodinma, represented by the Commissioner for Digital Economy and E-Government, Dr. Chimezie Amadi, said, “We deeply appreciate the efforts of our partners in NNPC, SPDC, Total Energies, and NAOC JV, who have invested in the future of Imo State by supporting this critical project. Your commitment to human capacity building aligns perfectly with our goals, and together, we will continue to drive innovation, skills development, and sustainable economic growth for our people.”

Okunbor’s address at the commissioning was read by General Manager, External Relations, Igo Weli, in which he expressed happiness “that the collaboration of SPDC, Joint venture partners, NCDMB, and FUTO has resulted in this successful social investment project that demonstrates our commitment to improving access to quality education for every Nigerian.”

On his part, the Executive Secretary NCDMB, Engr. Felix Omatsola Ogbe, called on Nigerian institutions to domesticate the advancements in AI and other technologies.

“Our AI must understand Igbo, Hausa, Efik, Yoruba, and other local languages,” he said, speaking through Dr. Ama Ikuru, the Director in charge of Capacity Building.

“We must leapfrog the innovations of other nations and become a net exporter of advanced technology to achieve the lofty ideals of Nigerian content development,” he added.

The Chief Upstream Investment Officer, NNPC Upstream Investment Management Services, Bala Wunti, said in his address which was read by the Senior Advisor Stakeholders Relations, Halimat Wilson, “Innovation thrives in an environment where ideas can be freely exchanged and developed. The Engineering Studio and ICT Hub is designed to be such a place where students, researchers, and faculty can collaborate on projects, share knowledge, and push the boundaries of what is possible.

Welcoming guests earlier, FUTO Vice Chancellor, Prof Nnenna Oti, thanked the sponsors of the project “for a landmark donation” to the university.

The Shell Companies in Nigeria have been education since the 1950s through scholarships and other initiatives. These efforts have resulted in the award of thousands of secondary, undergraduate and postgraduate scholarship awards, provision of educational infrastructure and establishment of sabbatical and internship programmes as well as centres of excellence in several universities.

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