Business
NECA: Dangote Honoured With Second Lifetime Achievement Award
. . . As Dangote Cement Wins In Chemical & Non-Metallic Products Sector
For the second consecutive year, Aliko Dangote, Africa’s foremost entrepreneur and humanist, was honoured with a Lifetime Achievement Award and accorded special recognition by the Organised Private Sector (OPS) employers in the country, under the aegis of the Nigeria Employers Consultative Association (NECA).
In a night of honour and reward for deserving member organisations, Dangote Group, the Pan-African conglomerate emerged top carting away the award in the ‘Resilience and Sustainable Growth’ category, while its subsidiary, Dangote Cement PLC was named the “Best Company in the Chemical and Non-Metallic Products Sector” during the 2022 Employers Annual Excellence Award held at the Eko Hotel in Lagos.
The Dangote Group also got a special Plaque as one of the sponsors of the 3rd edition of the NECA 2022 Annual Employers’ Excellence Awards.
The Dangote Group had won an award as the best company in the Chemical and Non-Metallic Products sector in the 2021 edition.
Chief Olusegun Osunkeye, former Chairman of Nestle Nigeria Plc. was the second personality given special recognition and honoured with the Lifetime Achievement Award at the well-attended event.
The Lifetime Achievement Award was received on the Dangote Group President’s behalf by a top management team led by the Group Executive Director, Strategy, Portfolio Development & Capital Projects, Mr. Devakumar Edwin; the Group Chief Human Resources Officer, Nglan Niat, and Director, Human Assets Management, Dangote Projects, Mr. Fola Ali. The other awards were also received by Mr. Edwin and Mrs. Adeola Oyetan, Head, Talent Management of Dangote Cement Plc.
Speaking while presenting Aliko Dangote’s Lifetime Achievement Award to the Dangote team at the high-brow event, former President of NECA and industrialist, Mazi Sam Ohuabunwa said the citation of the business tycoon which was read out to the warm applause of the participants “was only to fulfil all righteousness, as the name of Dangote looms larger than life for his exemplary works.”
He added, “I am proud that a lot of employers are here tonight. This is a great opportunity to catch up and build new networks. We need a lot of investments that would create more jobs and reduce poverty.”
Ohuabunwa, who also presented the Award for ‘Resilience and Sustainable Production’ said, “If you sow sparingly, you will reap sparingly. But if you sow bountifully, you will reap bountifully. The last award (Lifetime Achievement) was to Aliko Dangote, but this one (Resilience & Sustainable Production Award) is to the Dangote Group that has shown resilience and sustainable growth for others to emulate. They are setting the trend in sustainable growth.”
In his remarks after receiving the awards, Mr. Edwin, described NECA as an organisation that promotes leadership, good governance, innovation, productivity and corporate performance, and “therefore Mr. Dangote cherishes the award coming from a quarter like NECA.”
According to him, “NECA continues to remain a partner in progress, rewarding deserving companies for their contribution to national development. The Dangote Group will continue to contribute its quota to nation building and promote responsible business all sectors we operate.”
Also speaking, NECA President, Mr. Taiwo Adeniyi, explained that this year’s edition of the NECA Annual Employers’ Excellence Award, the third in the series, was to reward organisations that have forged on despite the challenges in Nigeria’s business environment and the economy, which was reflected in the event theme ‘Against All Odds’.
Adeniyi said the Employers Excellence Awards were meant to reward and encourage best practices in Corporate Performance, People Management and Industrial Relations practices amongst employers in Nigeria. He said the 2022 NECA Annual Employers’ Excellence Awards are to celebrate persistence and resilience, and added that, “In the quest for enterprise competitiveness and sustainable production, we are all winners.”
Minister of Labour and Employment, Simon Lalong, who was represented by Mr. M. Yusuf, an official of the Labour Minstry, congratulated the employers’ body and its leadership for organising the event to recognise that have displayed resilience despite the challenges facing in the private sector.
Other winners in various categories include Nigeria Bottling Company in the Food & Beverages Non-Alcoholic Sector; MTN in the Telecommunications and Allied Services category; TGI Group in the Agro & Agro Allied Services category; Nestle in the Food and Beverages and Workplace Innovation and Peoplecentric Creativity categories; Julius Berger in the Construction and Construction Services sector; NLNG in the Petroleum and Natural Gas sector.
Business
CSOs Urge Further Reduction Of Pump Prices Of Petrol
Following the marginal reduction of the pump prices of premium motor spirit (PMS) by the Dangote Petroleum Refinery and the Nigerian National Petrol Company Limited (NNPC Ltd), civil society groups have reacted by calling for further downward review.
Recall that the Dangote Petroleum Refinery had announced a partnership with MRS Oil and Gas to offer petrol at N935 per litre at retail outlets, while it reviewed the ex-depot price from N970 to N899.50 per litre.
The move, saw state oil major, the Nigeria National Petroleum Company peg its retail prices at N965/litre.
ALSO READ: Dangote Partnership: MRS Urges Nigerians To Insist On N935/Litre Petrol Price Nationwide
However, the civil society groups are of the opinion that the price reduction, fall short of expectations.
According to the Chairman, Centre for Accountability and Open Leadership, Debo Adeniran, the reduced price of N935/litre was still expensive and unsatisfactory.
He pointed out that petrol was just one of the products coming out of crude and that both government and private business could still give out free petrol to citizens while making huge profits from the other products.
In his words, “Well, we believe that if NNPC and the private sector actually give out PMS for free, they will still not run their business at a loss, because the other derivatives of petroleum products can still serve them, and can still make them to break even. So, even at that N900 and something, it’s still expensive.
“Dangote has kind of mooted the idea that it could drop to as low as N650. And if he has mulled this, then it means that it is the state, it is the NNPC that will have been the clog in the wheel of such progress. And you know also that we expected that fuel prices, especially PMS prices, will drop below N200 when Dangote was expected to come on stream.
“So, it’s unfortunate that we are still talking about over N900 and they want us to jump up and rejoice for that. That is not satisfactory. They should just let us see the breakdown of their production cost and why it’s still there. I mean, there are countries like Libya under Gaddafi that gave out PMS for free and they didn’t run anything at any loss. So, I believe that it can still go further down.”
On his part, the Executive Director of the Civil Society Legislative Advocacy Centre, Ibrahim Rafsanjani, commended the reduction of fuel prices by the NNPC and Dangote, but said the government could still reduce the price.
“Dangote’s own is about N899 or something like that. Well first and foremost, we are happy that there is a little reduction in the prices. But also based on analysis and based on facts and evidences, we believe that it is possible for the Nigerian government to further reduce the prices.
“Because if a private company can reduce the price and it still makes profit, we wonder why government-owned enterprises cannot really pity its citizens,” he said.
Business
Non-Oil Sector Fuels Nigeria’s Q3 2024 GDP Growth, Says CBN
The Central Bank of Nigeria (CBN) has announced a significant growth in the country’s economy, with a 3.46% increase in gross domestic product (GDP) in the third quarter of 2024.
This marks the third consecutive quarter of expansion, up from 3.19% in Q2 2024 and 2.54% in Q3 2023.
According to the newly published Q3 economic report, Nigeria’s GDP output rose to ₦20.115 trillion, reflecting a notable improvement from ₦18.285 trillion in the previous quarter.
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The CBN attributed this growth primarily to the performance of the non-oil sector, which grew by 3.37% compared to 2.80% in Q2 2024.
The report highlighted transportation, crop production, and other sub-sectors such as financial & insurance services, information & communication, trade, and real estate as major contributors to the expansion.
The non-oil sector accounted for 3.18 percentage points of the total growth rate.
“The expansion of the non-oil sector was driven by the performance of the financial & insurance, information & communication, crop production, trade, transportation & storage, and real estate sub-sectors,” the report stated.
Despite the economic growth, challenges persist. Inflation, particularly in food prices, remains a significant concern, standing at 39.93% as of November 2024.
Rising food and energy costs have also impacted transportation expenses, with intercity bus fares increasing by 20.23% year-on-year to ₦7,117.17 in July 2024, according to the National Bureau of Statistics.
Furthermore, the cost of petroleum, now exceeding ₦1,000 per litre, has driven up logistics and transportation expenses, adding pressure to households and businesses alike.
The CBN acknowledged these challenges, noting that the growth was achieved despite headwinds such as high inflation and rising operational costs.
Enhanced security measures in the Niger Delta have boosted domestic crude oil production, while restrictive monetary policies have helped moderate inflation in some areas.
“The growth recorded in the country is a result of continued efforts to improve the business environment, streamline cumbersome business processes, and deepen the quality of business infrastructure,” the CBN noted.
However, the report comes amid concerns over businesses exiting Nigeria due to persistent economic challenges.
Business
CSR: Asharami Synergy Donates Furniture To Gaskiya Junior School
Asharami Synergy, a leading downstream energy solutions provider, has demonstrated its commitment to community development and education by donating essential furniture to Gaskiya Junior School in Ijora, Lagos, Nigeria.
Biztellers reports that the social responsibility initiative was executed in collaboration with Sahara Group Foundation – the social impact vehicle of global energy conglomerate, Sahara Group.
It was gathered that the initiative is part of Asharami Synergy’s ongoing efforts to support education in communities.
The donation includes classroom desks and chairs for the JSS1 classes.
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CEO of Asharami Synergy, Nomnso Dike, said the project will create a more comfortable and functional learning environment and enhance student performance.
“We are delighted at the opportunity to support the attainment of Sustainable Development Goal (SDG) 4, which focuses on ensuring inclusive and equitable quality education. It has been a privilege to collaborate with the management and students of Gaskiya Junior School to deliver this project, and we look forward to future opportunities to enhance academic performance in this historic institution,” Dike said.
According to him, Asharami Synergy’s education-focused social impact initiatives have benefitted over 10,000 individuals. They focus on building capacity and providing the resources necessary to help students learn and grow sustainably.
“Education is the foundation of a brighter future, and at Asharami Synergy, we believe that every child deserves a learning environment that inspires and empowers them” he noted, adding, “This donation is not just about providing furniture; it’s a reminder to the students that their dreams are valid, and we are committed to helping them achieve their goals.”
Vice Principal Academic of Gaskiya Junior School, Sola Oladokun, commended Asharami Synergy for the donation, noting that it would inspire students to perform better with “increased concentration and fewer distractions”.
“These desks and chairs are a game-changer for our students. It’s heartwarming to see their excitement, and as teachers, we are equally thrilled because this will make teaching and learning more effective. We are incredibly grateful to Asharami Synergy and Sahara Group Foundation for this thoughtful intervention,” she added.
Two representatives of the students, Akin Moses and Chukwudi Gift, at the event said the donation would increase their “desire to dream bigger and concentrate better during lessons”.
Also speaking at the commissioning, COO at Asharami Synergy, Adekanmi Adesola, said, “What started as an opportunity to support the communities that host our operations has now come full circle. This donation directly impacts the lives of these students, and we are proud to bring smiles to the faces of the students and teachers.”