Business
Sustainability: DIL Renews Commitment With Natural, Renewable Resources
The Pan-African Conglomerate, Dangote Industries Limited (DIL) has reiterated its commitment to sustainable environment in all the communities where its business units operate by prioritizing the use of natural and renewable resources.
This was revealed in a statement from the corporate communications department of the group on Monday, in Lagos.
According to the statement, the Company assured that as a leading business, it would be educating the Small and Medium Enterprises (SMEs) on driving positive change with a view to fostering more ways of sustainable production and consumption.
Group Managing Director, Dangote Cement Plc, Arvind Pathak made these remarks while speaking during Sustainable Living Fair, a discussion and exhibition programme, in Lagos, as part of activities marking this year’s Sustainability Week themed “Sustainable Production and Consumption – The Dangote Way”.
He pointed out that the Dangote Cement’s Sustainability Week is a yearly tradition of positively impacting our host communities, through employee volunteering, across our Nigerian and Pan African plants, as well as all Dangote business units.
Pathak explained that “the journey to sustainability at Dangote Cement officially commenced in 2017 with the adoption of a Dangote Group wide seven Sustainability Pillars; cultural, economic, operational, social, environmental, financial and institutional, in every aspect of our business operations.”
According to him, since the inauguration of the Dangote Cement Sustainability Week in 2018, employee volunteers have increased by 73 per cent, a testament to our vibrant Sustainability culture. This year, one of the activities earmarked for the commemoration of our sustainability week this year is the flagship Dangote Sustainable Living Fair which is aimed at showcasing the various components of a sustainable lifestyle.
“At the fair, members of our host communities, visitors as well and employees can learn to prioritize the use of natural and renewable resources. Exhibitors are provided with an avenue to exhibit their goods, educate, and proffer, alternatives to consumers thereby creating a win-win situation,” he added.
The Dangote Cement boss also commended the administration of Gov Babajide Sanwo-Olu of Lagos State for its commitment to good governance, which has been demonstrated by the various environmental initiatives embarked upon by the State’s Ministry of Environment and Water Resources.
He urged all stakeholders present to partake in the various educative sessions and activities, patronise the exhibitors, network with other sustainability enthusiasts and transfer the knowledge gained back to your various organisations and homes for implementation.
In his own remark, Head, Learning & Development, Dangote Cement, Nurudeen Yusuf stated that “in a world faced with pressing environmental challenges, it is imperative that we come together to address the urgent need for sustainable production and consumption.”
He said “today, we have a unique opportunity to witness the innovative solutions, groundbreaking technologies, and inspiring initiatives that are paving the way towards a more sustainable and equitable world.
“This exhibition serves as a powerful platform for knowledge exchange, collaboration, and inspiration. Here, we have the privilege of engaging with passionate individuals, organizations, and businesses that are leading the way in sustainable practices.
Lagos State Commissioner for the Environment and Water Resources, Tokunbo Wahab, represented by Deputy Director, Climate Change and Environmental Planning in the ministry Bankole Michael urged the public to be self-discipline in waste disposal, saying that “if we do not dispose our waste properly, it will find its way back into the environment and cause havoc on habitants.”
He pointed out that “if we live in a sustainable manner, we do not have to clear the drainage. Drainage is not a waste receptacle. There are PSP operators as far back as 2003 in Lagos state, whereby the PSP goes to houses to pick the waste but yet some people still dispose their waste in improper places.”
He noted that government spend so much money on cleaning the environment due to the unwholesome practices by some people and that such resources could have been spent on health and education, if the environment is not debased while emphasizing that “all we need to do is to make sure that we all live responsibly and sustainably.”
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.”