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Tag Archives: Aliko Dangote

Dangote, Niger State sign N166bn MoU on sugar production

Dangote

DANGOTE Group, recently, in Minna, signed a Memorandum of Understanding (MoU) with Niger State Government for the establishment of a fully integrated sugar complex, worth $450 million (about N166 billion), in the state, a boost to government’s backward integration policy towards attaining self-sufficiency in sugar production. President of the Group, …

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ECONOMIC RECESSION: Dangote fires 48 Staff

Dangote

The current recession rocking the Nigerian economy has hit one of the biggest employers of labour in the country outside of the government as the Dangote Group, belonging to Africa’s richest man, Aliko Dangote, has fired 48 members of staff. Our correspondents gathered that those sacked were made up of …

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Dangote’s tomato company threatens to quit production

Aliko Dangote

Just a few days after Erisco Food Limited said it was going to shut down its tomato processing factory, Dangote Industries Limited has also disclosed plans to halt tomato paste production citing the harsh operating environment which gives the advantage to imported production. Alhaji Sani Dangote, Group Vice President of …

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Dangote set to invest N6t in Nigeria

Aliko Dangote

The Chairman, Dangote Group, Aliko Dangote, has revealed plans to increase his investments in the country and across the continent by injecting about N6.09tn ($20bn) into projects despite the current economic challenges. According to a statement by the group on Sunday, Dangote made the commitment in New York, United States, …

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‘We won’t sell NLNG’…RMAFC replies Dangote

RMAFC

The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has disagreed with Aliko Dangote on the sale of Nigerian Liquefied Natural Gas (NLNG) and other Federation Assets. Dangote had proposed during an interview with a cable Television that the quickest way for the country to get out of recession is through …

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Dangote supports minister of finance, says no to IMF loan

Aliko Dangote

Aliko Dangote, Africa’s richest man, is in support of Kemi Adeosun’s stance that Nigeria should not consider obtaining a loan from the International Monetary Fund (IMF). Speaking at the IMF spring meeting in April 2016, Adeosun had desribed Nigeria as a resilient country with strong fundamentals to get through tough …

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Dangote Loses N1.35bn Over Decline In Nigeria’s Economy

Dangote

Richest man in Africa and Chairman, Dangote Group, Alhaji Aliko Dangote has lost $5.4 billlion in his fortune since this year, according to data obtained, yesterday, from Bloomberg Billionaires Index. Using an average exchange rate of N250 to a dollar, Dangote’s $5.4 billion loss translates to about N1.35 trillion. The …

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