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Dangote refinery to help strengthen Nigerian Naira

by Radarr Africa
written by Radarr Africa

The Nigerian Midstream and Downstream Petroleum Regulatory Authority has expressed optimism that the 650,000 barrels per day capacity refinery being built by Dangote Industries Limited will significantly help strengthen the Nigerian naira once it is fully operational.

The NMDPRA said this when representatives of the Dangote Petroleum Refinery paid a visit in Abuja, to present the work plan for the facility for 2022/2023.

A statement said the regulatory agency for the sector, disclosed that the Dangote Petroleum Refinery was now 97 per cent completed.

ALSO READ: Dangote Sugar commits billions to CSR schemes in Adamawa, Nasarawa

The refinery, with 650,000 barrels per-day installed capacity was expected to double the total output of Nigeria’s existing ailing refining infrastructure and meet 100 per cent of the Nigerian requirement of all refined products will pump out fuel any moment soon, the Agency declared.

Source: Punch

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AfricaAFRICA NEWSAirtelBusinessBusiness InsightsDangote IndustriesMobile Telecommunications Network (MTN)NewsNigeriaTelecommunicationsWestern Africa

Top 5o Brands: Dangote emerges most valuable brand in Nigeria

by Radarr Africa
written by Radarr Africa

The 2022 annual top corporate brand evaluation report, “TOP 50 BRANDS NIGERIA” has been released. Dangote Group, a fully integrated Conglomerate has again emerged as the Most Valuable Brand in the country.

Dangote emerged top with an aggregate score of 83.7 Brand Strength Measurement (BSM) Index score. This is followed by MTN, Globacom and Access Bank in fourth place.

Others among the top 10 are Airtel Nigeria, Coca-Cola, Zenith Bank, GTCO, First Bank and UBA at fifth to tenth positions respectively.

The annual top brands evaluation report which is now like a report card, with which top corporate brands have an independent opinion about their brand performance, from the consumers’ points of view has also become a sort of ‘bragging’ right and a source of pride for the brands that made the top 50 league table, particularly, those that took the lead.

In a statement after the public presentation, the rating firm said: “The annual top brand evaluation is a qualitative, non-financial estimation of value of top corporate brands in the country.

A measure of consumers’ perceptions and how positive or otherwise towards a brand, and how this affects its overall strength, using the Brand Strength Measurement (BSM)index, a model that tests a brand’s ability to deliver on its promise to the consumers from the consumers’ points of view.

Brands today have become a necessary part of our everyday’s life, from waking moment to going to bed, even the choice of bedding.

This is so much more in the light of emergence of concepts of consumer awareness, differentiation, purchase justification and the new world economy, the brand is playing a quintessential role.

In his address TOP 50 BRANDS NIGERIA, CEO, Taiwo Oluboyede said, “Brand has become a critical differentiator that helps consumer’s choice and also separates the top corporate organisations from the others and even much more.

He likened the task of building formidable and continuously strong brand to a flower, he said “When you plant a flower, you keep watering and pruning it to grow and until it blossoms, and this you do for its lifetime.

“If you omit or forget to prune or water, regardless of how beautiful it is at the beginning, it dies. The same is applicable to brands.

ALSO READ: Dangote Sugar commits billions to CSR schemes in Adamawa, Nasarawa

That is why we have seen brands that dropped from the 50-league table in recent times, while new ones emerge.”

He said further “So, the responsibility lies with the owners and promoters to consistently maintain compelling propositions and live up to their promises.

As we all know, it’s not just about making propositions, but living up to its demands and consistently so. This is what makes a top brand.”

Source: Techeconomy

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AfricaAFRICA NEWSAgricultureBusinessDangote IndustriesNewsNigeriaSouthern AfricaWestern Africa

Zambian minister seeks Dangote’s assistance to develop fertilizer industry

by Radarr Africa
written by Radarr Africa

The Zambian minister of Commerce and Industry, Mr. Chipoka Mulenga, has sought the assistance of the president, Dangote Group, Aliko Dangote in the development of his country’s agricultural sector.

Mulenga, who led a delegation from Zambia on tour of the 3.00 million metric tonnes Dangote Fertiliser plant at the weekend, called for a collaboration between Dangote Group and the Zambian government in the establishment of fertiliser plant in the southern African country.

Mulenga expressed belief that any investment in fertiliser production will not only help the country to be self-sufficient in food production, it will also help grow the Zambian economy as well as that of the neighbouring countries.
According him, the Zambian government has created an enabling environment for local and foreign investment through great incentives to attract investment in all sectors of the economy.

“The Zambian government in the last budget made some pronouncements which focus on value addition, industrialisation, skill enhancement and development. We have a huge youthful population who are ready to work if given the opportunity to be productive.”

He described Zambia as Africa’s new investment destination because of its stable political system, stable macro-economic environment and investment protection guarantees.
He said that Zambia is strong in agriculture and even seeking to become stronger through having its own Fertiliser plant.

Mulenga commended Dangote for investing massively in fertiliser production in Nigerian, saying, this could only happen because the company put the right people, right leadership, right technical skills and the right management in place to have such a remarkable result.

Speaking at the end of the tour, chief executive officer of Dangote Fertiliser Limited, Mr. Vishwajit Sinha said demand for Urea fertiliser in the Nigerian market and beyond remains robust and is expected to continue to grow.
He said the $2.5 billion fertiliser complex would make Nigeria self-sufficient in fertiliser production with excess capacity exported to other African countries and the rest of the world.

“The key focus of Dangote Fertiliser has always been to cater to the growing fertiliser demand of the domestic market in Nigeria and also to work towards bringing a green revolution in the country so as to contribute towards food security for Nigeria. The surplus production after supplying the domestic market is exported,” he added.

Sinha stated that Dangote Fertiliser is positioned to take advantage of the federal government’s policy, which focuses on agriculture as one of the keys to unlock the diversification of the Nigerian economy.

“As population is increasing, food consumption is changing. Many countries’ economic progress is linked to agricultural development, which is the best form of inclusive development. For all the countries that I have been to, I can see the potential of agriculture in the entire value chain from the farm to the kitchen in Nigeria.
“Dangote Fertiliser has the potential to transform the entire African region. Definitely it will have a huge value on the country,” he added.

Sinha described Dangote Fertiliser plant as a company which will not only increase food-sufficiency in Nigeria, but also drastically reduce the level of unemployment in the country through the generation of direct and indirect employment.

Source: Leadership

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AfricaBusinessWestern Africa

Dangote industries emerges as the most admired brand

by Radarr Africa
written by Radarr Africa

Dangote Industries Ltd. (DIL), has emerged the most admired brand in Africa for the year 2022, making it the fifth consecutive time.

According to Mr. Tony Chiejina, Group Head, Corporate Communications, Dangote Group in a statement on Thursday in Lagos, The Award was for the company’s leadership position in driving quality brands across the continent.

Dangote won awards in eight different categories such as: Most Admired Nigerian Brand, West Africa’s Most Admired Brand, West Africa’s Most Admired African Brand, Most Admired Nigerian Brand in Africa, among others.

Chairman, Brand Africa, Mr. Thebe Ikalafeng, stated that the company remained a global African brand that symbolized African pride, retaining its number one Made-in-Nigeria brand rank.

Ikalafeng said the rankings were based on a pan-African survey covering over 25 countries, which collectively accounted for over 85 per cent of Africa’s population and 85 per cent of the continent’s Gross Domestic Product (GDP).

The research is conducted by GeoPoll, the world’s leading mobile surveying platform, with strategic analyses, insights.

“The ranking was conducted by Kantar, the world’s leading data, insights and consulting company and Brand Leadership Group, Africa’s foremost branding, strategic communications and intellectual property advisory firm,” he said.

ALSO READ: Dangote’s wealth jumps by $1.3 billion in January

Mr Rabiu Umar, Group Chief Commercial Officer, DIL, commended Brand Africa for the initiative of building and promoting African brands.

He expressed appreciation to the organizers and urged them not to relent in their efforts to see that brands from Africa compete favorably with foreign ones.

Umar said the company had risen a notch higher as a global brand with the export of Dangote Fertilizer to many countries of the world.

“People now identify with the brand and in all the countries where we operate, Dangote Cement has become a reference point. To the management of DIL, the ranking was not unexpected because the company has a long-standing reputation for quality, relevance, compliance and social stewardship”

“Our mission and vision engage and inspire us; and by extension connects us to both our internal and external stakeholders We fervently believe that only Africans can develop Africa, and this gives us stronger sense of relevance in all the countries where we have our operations”

“We are touching lives by providing their basic needs and empowering Africans more than ever before, creating jobs, reducing capital flight, and helping government to conserve foreign exchange drain by supporting different industrial and infrastructural projects of African governments,” he said.

Source: Vanguard

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