. . . 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.

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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.

Nigeria’s Vice President, Kashim Shettima was at the Shell booth at the 30th Nigeria Economic Summit, Abuja.

The Vice President and his entourage listened to Shell’s Business Value Manager, Chidi Nkazi, explain Shell companies in Nigeria’s contribution to the Nigerian economy, local content development and commitment to sustainable development.

Nkazi presented key achievements of Shell Companies in Nigeria (SCiN) to the Vice President, underlining Shell’s role in fostering economic growth through tax contributions, job creation and support for local businesses.

In addition, Nkazi pointed out that through collaboration Shell Companies in Nigeria are powering Nigeria’s progress with significant contributions to the economy.

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Nkazi highlighted SCiN collaboration with co-venture partners to foster knowledge sharing, resources pooling and risk mitigation leading to more efficient and sustainable operations.

He informed the Vice President of Shell’s technical expertise and resources and how Shell has leveraged its strength to support its Nigerian operations contributing to technological advancement and improved efficiency.

In 2023 alone, Shell Companies paid over $1.09 billion in corporate taxes and royalties to the Federal Government, a vital contribution to national revenue. This included $442 million from Shell Petroleum Development Company (SPDC) and $649 million from Shell Nigeria Exploration and Production Company (SNEPCo).

Additionally, the companies awarded contracts worth $1.98 billion to Nigeria-registered businesses, reflecting a 3% increase from the previous year.

According to Nkazi, “Shell is committed to contributing positively to the Nigerian economy and the communities in which we operate. Our investments not only support government revenue but also empower local economies and create employment opportunities.”

Beyond economic contributions, Shell’s social investments have helped to improve the quality of life in communities. In 2023, SCiN invested $42.2 million in various social programs, focusing on health, education, road safety, and entrepreneurship. Shell’s commitment to education has seen it support thousands of students through scholarships since the 1950s. More than 3,450 secondary school scholarships, 3,772 university grants, and 1,062 cradle-to-career scholarships have been awarded since 2016.

“The partnership between Shell and Nigeria reflects our dedication to sustainable development and community empowerment,” Nkazi said, adding: “We will continue to seek innovative ways to support economic growth and improve the livelihoods of Nigerians.” Shell is co-sponsor of the Nigeria Economic Summit.

The Vice President accompanied by other dignitaries when he visited.

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.

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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.