Business
Dangote’s CSR Footprint On 17 Ogun Host Communities
Up to 305 youths from the 17 host communities of Dangote Cement’s Ibese plant operations have been trained and empowered with multi-million Naira start-up packs in different vocations since the opened shop there.
The management of the company disclosed this in a statement on Wednesday.
According to the statement, the Ogun State government lauded the efforts of Dangote Cement in complementing the state’s poverty alleviation programmes describing the company as a worthy partner.
Acting Plant Director of the Ibese Cement Plant, Mr. Michael Johnson made the disclosure during the closing ceremony of the 2023 Community Youths Empowerment programme held at the plant’s premises at Ibese during which 30 fresh host communities’ youths graduated from the Youth Skill Acquisition and Empowerment in crafts and leather works in collaboration with Industrial Training Fund.
Mr. Johnson described the conclusion of the skill acquisition programme as another testament to Dangote Cement’s commitment to the socio-economic development of its host communities and their people. “Our focus is to support the indigenous people to become self-sustaining by delivering and sustaining values that are pivotal to their overall growth and development.”
While welcoming the guests and the beneficiaries to the ceremony, the Cement Plant boss pointed out that the successful completion of the programme was another milestone in the journey of the company’s social investment strides saying the company’s vision is to create entrepreneurs who in turn will create jobs for other youths within the communities.
Said he; “today, thirty (30) youths from our seventeen (17) host communities are receiving certificates for undergoing in full and conducting themselves well during the intensive training, 70% hands on and 30% theory, organized by the Dangote Cement Ibese Plant through the ITF. This underscores our recognition of youths as a critical stakeholder group to the company and our resolve to continue to collaborate to unleash their innate potentials.
“They are also being provided with multi-million Naira start-up packs comprising SR-810 Professional Single Needle Post-bed Heavy-lock Stick Shoe Patch sewing machine, Master Flex MF-2008BG Shoe filing machine and other accessories like scissors, hammer & sewing needle”
Amidst applause by the beneficiaries, Mr. Johnson recalled that the 30 youths commenced the training in October 2023, with little or no idea in the craft of leather works and shoe making. “After months of intensive learning and extensive practice, they are now imbued with skills that can put food on their tables and afford them opportunities to meaningfully contribute their quota to the development of their respective communities and the nation at large. It gladdens our heart to be instrumental to this transformational journey for all the participants.”
He stated that the Company’s management was of the view that governments at all levels and the private sector alone cannot fully meet the employment needs especially in a densely populated and youth dominated country like Nigeria. “The most plausible alternative therefore, is for the youths to acquire adequate skills in various trades to become entrepreneurs and self-dependent. This program is therefore timely and most auspicious as its intended impact cannot be overemphasized considering the prevailing economic condition in the Country, he noted.”
According to him, so far, not less than 305 youths across the Ibese Plant host communities have been trained and empowered in different skills since the commencement of programmes, with significant impact on the local economy while expressing the company’s desire to continue to collaborate with stakeholders to deepen the impact of the program.
The Plant Director stated that apart from the annual skills acquisition program, Dangote Cement, Ibese has other programs such as annual Scholarship awards for 120 indigent and brilliant students and a dedicated structure to ensure that the youths remain engaged and their concerns are heard and attended to on a consistent basis.
He therefore urged the beneficiaries to make good use of the opportunity to set up their own businesses, grow them and become employer of labour by hitting the ground running immediately saying a journey of a thousand miles starts with a step. “Be bold and courageous to start your own journey to greatness now! We live in a technology driven world, which the advent of Artificial Intelligence (AI) has taken to another level. Hence, you need to remain focused and be conversant with the latest developments in your areas of specialization by embracing technology to remain relevant and competitive.”
In his goodwill message, the Ogun State Commissioner for Youths and Sports Development. Hon. Wasiu Isiaka lauded Dangote Cement for its partnership programmes which have helped the state government tremendously in the area of poverty alleviation and job creation.
He challenged the Dangote Cement to sustain the trend by helping to ensure it create markets for the products the youth beneficiaries would be churning out noting that when there is market for the products the beneficiaries will be encouraged to double their efforts.
The commissioner assured that the state government would be ready to assist in whatever is required to foster joint development of the state by empowering its people, especially the youths. He then advised the company to ensure the diversification of its empowerment programme so that different skills can be acquired by the youths in various field of vocation and in turn teach others.
Hon. Isiaka urged the youths and other stakeholders in the host communities to reciprocate the gesture of the Dangote Cement, Ibese by making peace and tranquility their priority. He told them to play their own part of the bargain by partnering and supporting the organization to ensure peaceful co-existence and shared prosperity for all.
Responding on behalf of the beneficiaries, 21-year old Olowookere Sadiq Opeyemi from Abule-Oke Community thanked the management of Dangote Cement for their passion in seeing that the youths from the host communities do not constitute nuisance to the society be empowering them through various vocational training.
He promised that he and his colleagues would not disappoint the company but will ensure the start-up packs given them are judiciously used so that they would also become entrepreneurs who in turn will employ others.
“What Dangote Cement has done for us is unquantifiable. They have lessened the burden off our parents and the society at large will be better for it. With this, Dangote Cement, Ibese has proven that they are not just corporate citizen but a socially responsible corporate citizen”, he stated.
The pull of market forces which moved the hands of the Nigerian National Petroleum Company Limited (NNPC Ltd) to reduce the price of Premium Motor Spirit (petrol) to N880 per litre in Lagos and N935 in Abuja appears to be a source of torture to independent markets.
Biztellers reports that the latest price review on Easter Monday saw NNPC retail outlets in Lagos drop from N925 to N880, while those in Abuja adjusted from N950 to N935.
The NNPC Ltd’s price reduction came barely a week after the Dangote Refinery lowered its ex-depot price from N865 to N835 per litre.
ALSO READ: BREAKING: Again, Dangote Cuts Petrol Price To N835 per Litre
In addition, the $20bn refinery also directed its partners like MRS, Heyden, and Ardova to sell a litre of petrol at the rate of N890 instead of N920 in Lagos, N900 in the South West, N910 in the South-South, and N920 in the North East.
Consumers can smile because with the reaction, the NNPC Ltd’s new price in Lagos is N10 lower than what the Dangote Refinery is selling at, which might lead to another reaction, as the price war between the two companies.
Though some NNPC Ltd’s retail outlets were observed selling at the old rate in Lagos, it was gathered that they were given the liberty to exhaust old stock before adjusting to the new prices.
Market sources are of the view that the current price war was ignited by the Federal Government’s implementation of the Naira-for-crude policy.
Gold soared to a record high of $3,500 an ounce on Tuesday, as mounting fears over a potential U.S. recession and escalating tensions between President Donald Trump and the Federal Reserve drove investors toward the traditional safe-haven asset.
The precious metal briefly touched an all-time high of $3,500.10 an ounce before retreating slightly to trade at $3,467.87.
READ ALSO: JUST IN: Vatican Discloses Cause Of Pope Francis’ Death
The rally marks the latest in a string of record-breaking gains for gold, fueled by a weakening U.S. dollar, sharp declines across global stock markets, and growing concerns over the health of the world economy.
Market sentiment took another hit this week after President Trump ramped up his trade war with China, slapping fresh tariffs on the world’s second-largest economy and intensifying fears of prolonged economic disruption.
Gold has surged more than 30 percent since the start of the year as investors seek refuge from mounting market volatility.
“The rally reflects ongoing recession fears in the U.S. economy and heightened political tensions, especially as President Donald Trump continues to attack Federal Reserve Chair Jerome Powell,” said Rania Gule, senior market analyst at trading group XS.com.
Concerns about the Fed’s independence were further stoked Monday, when Trump publicly lashed out at Powell on social media, branding him a “major loser” for not cutting interest rates — a move the president has repeatedly demanded.
The sharp criticism follows Trump’s recent suggestion that he might attempt to remove Powell from his post.
Klaus Schwab, the founder of the World Economic Forum (WEF), announced his resignation from the board on Monday, marking a significant moment in the organization’s history.
Schwab, who has been at the helm of the WEF for over five decades, confirmed he was stepping down from his position as Chair and leaving the Board of Trustees with immediate effect.
“I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect,” Schwab said, noting that the decision comes as he approaches his 88th year.
READ MORE: NNPC Ltd Opens Retail Outlet In Bauchi
His resignation follows his stepping down as executive chairman in 2024, when former Norwegian foreign minister Borge Brende took over the day-to-day operations.
In response, WEF appointed Vice Chairman Peter Brabeck-Letmathe as interim chairman while a search committee was formed to find a permanent successor.
The WEF board lauded Schwab’s immense contributions, acknowledging his “outstanding achievements” over his 55-year leadership tenure.
“At a time when the world is undergoing rapid transformation, the need for inclusive dialogue to navigate complexity and shape the future has never been more critical,” the WEF stated.
“Building on its trusted role, the Forum will continue to bring together leaders from all sectors and regions to exchange insights and foster collaboration.”
Schwab, originally from Ravensburg, Germany, founded the precursor to the WEF, the European Management Forum, in 1971.
The first meeting drew fewer than 500 participants, but over the years, Schwab expanded the gathering into a prestigious platform that now attracts thousands of influential figures.
The Davos summit has become synonymous with global power brokers, offering opportunities for high-level networking, discussion, and collaboration on issues affecting the world.
Under Schwab’s leadership, the WEF grew to include regional meetings and established centers dedicated to pressing global topics such as cybersecurity, climate change, and financial systems.
The organization continues to uphold its mission of “improving the state of the world” by fostering dialogue and cooperation.
However, the WEF and Schwab have not been without their critics. Many argue that the forum has become a venue for corporate elites to exert influence over governments, with the term “Davos Man” often used to describe the affluent attendees.
Schwab has also faced the ire of conspiracy theorists, particularly following his promotion of the “Great Reset” following the COVID-19 pandemic.
These theorists have spread misinformation, alleging that Schwab and the WEF are part of a global elite aiming to control the world, with even Elon Musk weighing in on social media, claiming Schwab “wants to be emperor of Earth.”
Panic In Istanbul As 6.2-Magnitude Earthquake Hits Marmara Sea
We Need Help, Not A State Of Emergency In Benue – Gov Alia Tells FG
Edo LP Senator, Neda Imasuen Set To Join APC
JUST IN: Okpebholo Summons Town Hall Meeting To Address Security Challenges
APC Sets N5m Nomination Fee For Chairmanship Aspirants In Lagos LG Polls
