Business
Dangote Flour Group Nets N2.9bn Profit
Dangote Flour Group has announced a net profit of N2.9 billion for the year ended December 31, 2008, representing a 400 per cent increase compared to N561.55 million posted in 2007.
The Group made this statement at its Annual General Meting which took place at the Civic Centre, Ozurumba Mbadiwe Road, Victoria Island, Lagos on Wednesday, 9th December, 2009 an event chartered by Alhaji Miko Dangote, the President and Chief Executive of the Dangote Group.
According to the financial results audited by Akintola Williams Deloitte, Dangote Flour Group, however increased from N43.13 billion to N47.92 billion from 2007 to 2008 financial year.
Following the impressive result a dividend of 20 kobo per share has been recommended by the directors for the year under review.
The strategy adopted by the flour giant to overcome the difficult operating environment, according to Alhaji Dangote was to “focus on internal efficiency to cut down on other areas of costs, the effect of which made the company’s profit before taxation to increase from N376 million in 2007 to N1.8 billion.
“Group profits in 2008 also leaped from N676 million in 2007 to N3.2 billion in 2008 implying N1.4 billion Group attributable profits from subsidiaries”.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
