Business
IWD: ‘Women Play Crucial Roles in Dangote Group’s Success Story’- Fatima Aliko Dangote
The place of women in the success story of the Dangote Group has been highly commended.
According to Executive Director, Commercial, NASCON Allied Industries, Fatima Aliko Dangote, this is even as the Dangote Group invested in innovative technologies and processes to achieve gender equality and empowerment of all women in the organisation.
She disclosed that women are playing pivotal roles in the success story of the Dangote Group.
For example, to drive transformative change, she said the company is implementing the policy of continuous improvement in its production processes with state-of-the-art production facilities, which are already being managed by women.
At the International Women’s Day (IWD) Conference in Lagos and Dangote Cement Plc, Obajana Plant, Fatima noted that the company, through its Learning Management System (LMS), offers employees a variety of resources and opportunities that help them advance their professional and personal development.
According to her, these learning and development offerings cover vast focus areas and are provided via on-the-job, classroom, and online learning platforms, to both permanent and temporary employees across all cadres, in the Group’s Nigerian and Pan-African operations.
In her words, “At the plants, we have the Gamma Neutron Activation Analysis (PGNAA) for online analysis, robotic laboratory, and fully automated central control room system equipped with Human Machine Interface technology (HMI) and innovative solutions to drive resource efficiency, process optimisation and mitigate the environmental footprints of our products while delivering quality products that meet the needs of our esteemed customers.”
Fatima explained that Dangote Women’s Network through this year’s theme has provided a unique opportunity to holistically examine the theme of innovation and technology from a gender perspective.
“We are inspired by our superheroes in STEM, and we hope this session increases your awareness of innovation, technology, and digital education, driven by women for women, and learn advancements in digital technology that address how we rethink our daily lives and achieve our personal and professional goals.
“I would like to encourage our women with a few tips on leveraging technology, equipping yourselves academically and technically, be inspired and inspire others by creating opportunities for regular interactions with female STEM champions and leaders and tapping into opportunities for hands-on experience in the form of volunteering”, she added.
In the same vein, Co-Founder/COO Piggy/Vest NG, Odunayo Eweniyi said technology plays a key role and can support women in their daily responsibilities either as a mother or as a worker.
She said it’s never too early to introduce girls to technology and that supporting their passion early can lead to meaningful careers in the future.
She urged the Dangote Cement Group not to relent in its Gender Balance Policy, especially as it relates to encouraging qualified women in the business of cement production.
On her part, Chief Enterprises Business Officer, MTN Nigeria, Lynda Saint said women’s condition can be improved through innovative technology.
She encouraged parents to expose their female children to science and technology as the world has embraced technology and innovation in every aspect of the organisation.
Giving a vote of thanks at the end of the conference, Group Chief Human Resources Officer at Dangote Industries Limited, Nglan Niat commended the speakers for sharing their valuable thoughts and insights with the Dangote team.
“Today marks International Women’s Day 2023, a day set aside to take stock and reflect on how far we have come in tackling gender disparity and also to recognise how much we must go to achieve equality and equity in our workplace.
“Having female representation at all levels of the company is essential as it contributes to a good working environment and better quality of work. That is what we are striving to achieve. The technology industry has been male-dominated, so we need to work harder to ensure that women are properly supported,” she added.
Chairperson, the Dangote Women Network at the DCP Obajana, Fatima Kabir Ikunaiye said the Network began operation in 2017, and since then it has carried out several interventional programmes in the cause of women.
Some of the programmes, Ikunaiye said included, support for orphanages and vulnerable homes, sensitisation and empowerment of women as well as training them on skill acquisition.
Savannah Energy has shared a trading update on its Nigerian operations and other markets in Africa, including up-to-date cash collections in its Nigerian business.
According to the update, made available on Thursday in Lagos, its gross production in Nigeria averaged 23.1 Kboepd for FY 2024, broadly in line with the prior year’s 23.6 Kboepd, of which 88% was gas (FY 2023: 91%).
On the update, CEO of Savannah Energy, Andrew Knott, said, “I am pleased to provide a FY trading update which demonstrates the continued progress we have made in 2024, a year which saw the highest level of cash collections ever recorded by our Nigerian business. 2025 is expected to be an exciting year for our Company: we have a large planned operational programme in Nigeria which is anticipated to enhance both our oil and gas production levels and capacity; we intend to progress our R3 East oil development project in Niger; we continue to pursue key acquisitions in the upstream oil and gas space; and we continue to seek to build our power business.
“Fundamentally, Savannah remains unequivocally an “AND” company, seeking to deliver strong performance both for the short AND long term across multiple fronts, and pursuing growth opportunities in both the hydrocarbon AND power sectors.”
The update It also shows that it generated a Total Income of US$393.6 million in 2024, compared to FY 2023’s US$289.8 million. This consists of Total Revenues of US$258.7 million and Other operating income of US$134.9 million.
The report also shows that Savannah’s FY 2024 Total Revenues were ahead of the previously issued financial guidance of greater than US$245 million, while FY 2024 financial guidance is reiterated for Operating expenses plus administrative expenses at ‘up to US$75 million’. The company expects its FY 2024 capital expenditure to come in lower than planned (previously guided at ‘up to US$50 million’) due to the phasing of spend.
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According to the update, Savannah’s cash collections in 2024 amounted to US$248.5 million, a slight increase from the US$206 million it received in 2023. The report further shows that its cash balances as at 31 December 2024 stood at US$32.6 million, compared to the 31 December 2023 figure of US$107.0 million.
The report shows that the company’s midstream subsidiary, Accugas Limited, had as at 31 December 2024 drawn down on its NGN332 billion of the NGN Transitional Facility, with the resulting funds being converted to US$, which, along with cash held, was used to partially prepay the existing Accugas US$ Facility, leaving a balance as at 31 December 2024 of approximately US$212.3 million.
The report also provided new updates on Accugas’ US$45 million Uquo Central Processing Facility (“Uquo CPF”) compression project in Nigeria, noting that its commissioning which will enable the expansion of gas production in the medium term is well underway.
The report highlighted the progress being made in the procurement process of long lead equipment in Nigeria for a potential two-well drilling campaign on the Uquo Field in H2 2025, with an additional gas development well expected to add up to 80 MMscfpd of supplemental production capacity and a potential exploration well targeting an Unrisked Gross gas initially in place (“GIIP”) of 154 Bscf (25.7 MMboe) of incremental gas resources.
The update shows that progress is also being made in the planned Savannah acquisition of Sinopec International Petroleum Exploration and Production Company Nigeria Limited, whose principal asset is a 49% non-operated interest in the Stubb Creek oil and gas field (“Stubb Creek”), with regulatory approval and completion being targeted in Q1 2025. Following the completion of the acquisition, Savannah intends to commence an expansion programme which is anticipated to increase Stubb Creek gross production from an average of 2.7 Kbopd in 2024 to approximately 4.7 Kbopd.
In Niger, Savannah continues to seek to progress its 35 MMstb (Gross 2C Resources) R3 East oil development in South-East Niger, while it continues to push for a potential alternative transaction structure to acquire a material stake in producing oil and gas assets in South Sudan as previously announced on 20 December 2024.
On the renewable energy front, the update shows that Savannah has up to 696 MW of renewable energy projects currently in motion, including the up to 250 MW Parc Eolien de la Tarka wind farm project in Niger and the up to 95 MW Bini a Warak hybrid hydroelectric and solar project in Cameroon. A firm believer in Africa’s transition to renewable energy, Savannah continues to target a portfolio of up to 2 GW+ of power projects in motion by the end of 2026.
The Nigerian Economic Summit Group (NESG) has projected that the country has the potential to achieve a 5.5% growth in Gross Domestic Product (GDP) if critical policy reforms are sustained.
This was disclosed on Thursday during the launch of the NESG’s 2025 Macroeconomic Outlook report.
Speaking at the event, the Chief Economist and Director of Research & Development at NESG, Dr. Olusegun Omisakin, highlighted the need for more efficient policy implementation to unlock Nigeria’s economic potential.
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“We believe at the optimal level, if we embark on more efficient policy reforms, the Nigerian economy has the potential, the GDP to end up at 5.5 per cent, and we believe that this is achievable,” Omisakin stated.
More to follow……….
The Central Bank of Nigeria (CBN) has announced the release of the Nigerian Foreign Exchange (FX) Code, a set of guidelines designed to promote ethical conduct among authorized dealers in the country’s FX market.
In a statement, the apex bank disclosed that the official launch of the Code would take place on Tuesday, January 28, 2025, at the CBN Head Office Auditorium in Abuja.
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“The Central Bank of Nigeria has approved the release of the Nigerian Foreign Exchange (FX) Code as a guideline to the banking industry to promote the ethical conduct of authorised dealers in the Nigerian Foreign Exchange Market,” the statement read.
The introduction of the FX Code is expected to enhance transparency, accountability, and professionalism within Nigeria’s foreign exchange ecosystem, aligning it with global best practices.
The event is anticipated to attract key stakeholders in the financial and banking sectors, as well as representatives from authorized FX-dealing institutions across the country.
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