• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 29, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Dangote Sugar declares N82.3bn profit

Sugar

The Matters Press by The Matters Press
March 4, 2023
Reading Time: 2 mins read
0
Dangote Sugar declares N1 per share dividends

Dangote Sugar Refinery Plc has reported a Profit Before Tax (PBT) of N82.3 billion for the year ended Dec. 31, 2022.

RELATED POSTS

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

Tinubu succeeding where Obasanjo failed woefully, says TMSG

The company made this known in its annual report on Friday in Lagos signed by Mr Anthony Chiejina, Chief Corporate Communications Officer, Dangote Group.

This, the company said, translates to an increase of 142 per cent to N48.28 billion over N34 billion recorded in the corresponding period in 2021.

According to the annual report of the sugar company, profit after tax rose to N54.74 billion, representing an increase of 148 per cent to N32.69 billion compared to N22.05 billion posted in the same period in 2021.

The report stated that all the performance indicators were on the upswing as its revenue rose by 45 per cent, from N278.05 billion to N403.25 billion.

Also, the company’s earnings per share rose from 182K per share to 451k per share, an increase of 269k or 148 per cent.

The report quoted the Chairman of the company, Mr Aliko Dangote, who said that increasing the sugar refining capacity would require a corresponding increase in sugarcane production capacity.

Dangote revealed that the company had concluded plans to increase its sugar plantation from the current land area under cane production of about 8,700 hectares in 2022 to about 24,200 hectares within the next seven years.

He added that the company had doubled its scholarship and empowerment schemes in its host communities and would continue to introduce more initiatives to support the communities.

“Through these initiatives and our numerous Corporate Social Responsibility (CSR) activities, the company will be able to touch the lives of the people, bringing social, economic, and infrastructural development to our host communities.

“We are thus committing over $700 million to our investment in the Backward Integration Programme (BIP) to enable us to put in place needed infrastructure for the eventual commencement of full-scale production,” he said.

He promised that the sugar company would change the trajectory by making Nigeria self-sufficient in the sector.

Theindigenous sugar refinery continues to scale up its investments in line with the requirement of the Nigeria Sugar Master Plan (NSMP).

The Dangote Sugar Refinery has expanded its refining capacity from 3,000 tonnes of cane per day (tcd) to 6,000 tcd, and to 9,800 tcd.

Tags: Sugar
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria regains top crude oil production spot in Africa
Energy

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

August 28, 2025
Who is lying, Obasanjo or NAN?
News

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

August 28, 2025
Obasanjo campaigns for AfCFTA
News

Tinubu succeeding where Obasanjo failed woefully, says TMSG

August 28, 2025
Tinubu explains mission as he marks second year in office
Economy/Technology

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

August 9, 2025
Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Next Post
Experts validate Nigeria’s implementation strategies for success under AfCFTA

Mix reactions trail Supreme Court ruling on Cash Swap

NPA begins fencing of Tincan Port

NPA begins fencing of Tincan Port

Recommended Stories

Nigeria has not taken decision yet on fuel subsidy

Government, Labour continue talks on palliatives over fuel subsidy removal

July 27, 2023
Buhari’s Economic Advisory Council

Buhari’s Economic Advisory Council

October 10, 2019
Vulnerable Nigerian farmers to get $1m grant

Agro experts warn farmers on changing weather patterns

February 25, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals
  • ‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient
  • Tinubu succeeding where Obasanjo failed woefully, says TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us