Cement company of Africa’s richest man doubles revenue to $659.3 million in Q1 2024
Group revenue from cement, clinker, and other products surged 100 percent year-over-year, reaching N817.35 billion ($659.3 million).
Group revenue from cement, clinker, and other products surged 100 percent year-over-year, reaching N817.35 billion ($659.3 million).
The Independent Petroleum Marketers Association of Nigeria (IPMAN) expects the Dangote refinery to reduce diesel prices further.
The recent decision to ramp up operations, follows Dangote Refinery’s move to slash diesel prices in Nigeria, marking a substantial decrease from previous rates.
The recent price cut follows the commencement of operations at the Dangote Oil Refinery, a landmark achievement for Nigeria’s pursuit of energy independence.
Dangote remains Africa’s richest person and the world’s wealthiest Black billionaire. His net worth has surged past $17 billion.
By offering diesel at N1,200 ($1), below the market rate of N1,650 ($1.325), Dangote believes inflation will decrease.
The Dangote Petrochemical Complex, located on a peninsula on the outskirts of Lagos, represents a significant leap in industrial advancement.
His latest $11.02-million food intervention program underscores his unwavering commitment to improving lives and tackling social challenges in Nigeria.
Dangote’s financial resurgence reflects not only his vast fortune and investment portfolio but also the broader economic dynamics at play within Africa’s biggest economy.
This decline is influenced by the recent devaluation of the Nigerian currency — the country’s second devaluation in eight months.
This strategic maneuver by Dangote is expected to bring about a significant transformation in power and profit dynamics within the petroleum industry,
The dividend, which will be paid electronically into his bank account by Mon., April 29, 2024, is a testament to Dangote Cement’s impressive fiscal results.
Dangote Cement records impressive 19-percent surge in profit, delivers strong financial performance amid challenging economic environment.
In the face of economic challenges, Nigerian billionaire Aliko Dangote emphasizes the need for swift and decisive action from both the public and private sectors.
The major driver behind this sudden fall is the recent decline in the market value of his substantial holdings in Dangote Cement Plc.
Trafigura Group, a multinational commodity trading company headquartered in Singapore, has been awarded the contract for the inaugural shipment.