DANGOTE SUGAR SURGES: 51% Turnover Growth & 75,000 Jobs on the Horizon!
“Sweet Success Amid Tough Times”
Strong Financial Performance
Despite Nigeria’s challenging economic climate, Dangote Sugar Refinery Plc delivered a blockbuster performance in 2024. Speaking through Ms. Bennedikter Molokwu at the company’s 19th Annual General Meeting (AGM), Aliko Dangote announced that the company’s turnover rose by 51% — jumping from ₦441.5 billion in 2023 to a whopping ₦665.6 billion in 2024!
• Earnings Per Share (EPS) soared from ₦6.00 to ₦15.80
• Shareholders celebrated the company’s 25th anniversary, hailing its remarkable growth journey
Vision for the Future: 75,000 Jobs & Self-Sufficiency
Looking ahead, Dangote reaffirmed his vision to build a sustainable sugar empire:
• Target: Production of 1.5 million metric tonnes of refined sugar yearly
• Impact: Creation of over 75,000 jobs across the company’s value chain
• CSR Contributions: Shareholders praised the company’s social impact, from job creation to community development
Shareholders Speak Out
At the AGM, shareholders poured in their praises:
• Dr. Farouk Umar (President, Advancement of the Rights of Nigerian Shareholders):
“In this economy, many firms struggle to grow. Dangote Sugar not only grew but thrived. We commend the Board!”
• Pastor Olagoke Olusegun (De-Impressive Shareholders’ Association):
“The Chairman and executive team have taken this company to enviable heights.”
• Alhaji Mukhtar Mukhtar (Trusted Shareholders Association of Nigeria):
“Amid economic turbulence, Dangote Sugar is delivering profit and promise.”
• Mr. Patrick Ajudua:
“25 years and still rising — Dangote Sugar is a Nigerian success story.”
Operational Expansion in Full Gear
• Group MD/CEO Ravindra Singh Singhvi:
“We aim to make Nigeria fully self-sufficient in sugar. Our 5-year plan targets 700,000 tonnes of local production.”
• Executive Director Hajiya Mariya Dangote:
“Our Backward Integration Projects (BIPs) are expanding. We’re also commissioning a new power plant to boost efficiency.”
Why This Matters
Dangote Sugar remains:
• One of the largest sugar refineries in Sub-Saharan Africa
• The market leader in Nigeria’s sugar industry, with 1.49 million tonnes of installed refining capacity
Final Note:
Amidst rising inflation, FX pressures, and economic uncertainty, Dangote Sugar is proving that resilience, strategy, and scale can still deliver sweet results — for both shareholders and the nation.
“Sweet Success Amid Tough Times”
Strong Financial Performance
Despite Nigeria’s challenging economic climate, Dangote Sugar Refinery Plc delivered a blockbuster performance in 2024. Speaking through Ms. Bennedikter Molokwu at the company’s 19th Annual General Meeting (AGM), Aliko Dangote announced that the company’s turnover rose by 51% — jumping from ₦441.5 billion in 2023 to a whopping ₦665.6 billion in 2024!
• Earnings Per Share (EPS) soared from ₦6.00 to ₦15.80
• Shareholders celebrated the company’s 25th anniversary, hailing its remarkable growth journey
Vision for the Future: 75,000 Jobs & Self-Sufficiency
Looking ahead, Dangote reaffirmed his vision to build a sustainable sugar empire:
• Target: Production of 1.5 million metric tonnes of refined sugar yearly
• Impact: Creation of over 75,000 jobs across the company’s value chain
• CSR Contributions: Shareholders praised the company’s social impact, from job creation to community development
Shareholders Speak Out
At the AGM, shareholders poured in their praises:
• Dr. Farouk Umar (President, Advancement of the Rights of Nigerian Shareholders):
“In this economy, many firms struggle to grow. Dangote Sugar not only grew but thrived. We commend the Board!”
• Pastor Olagoke Olusegun (De-Impressive Shareholders’ Association):
“The Chairman and executive team have taken this company to enviable heights.”
• Alhaji Mukhtar Mukhtar (Trusted Shareholders Association of Nigeria):
“Amid economic turbulence, Dangote Sugar is delivering profit and promise.”
• Mr. Patrick Ajudua:
“25 years and still rising — Dangote Sugar is a Nigerian success story.”
Operational Expansion in Full Gear
• Group MD/CEO Ravindra Singh Singhvi:
“We aim to make Nigeria fully self-sufficient in sugar. Our 5-year plan targets 700,000 tonnes of local production.”
• Executive Director Hajiya Mariya Dangote:
“Our Backward Integration Projects (BIPs) are expanding. We’re also commissioning a new power plant to boost efficiency.”
Why This Matters
Dangote Sugar remains:
• One of the largest sugar refineries in Sub-Saharan Africa
• The market leader in Nigeria’s sugar industry, with 1.49 million tonnes of installed refining capacity
Final Note:Amidst rising inflation, FX pressures, and economic uncertainty, Dangote Sugar is proving that resilience, strategy, and scale can still deliver sweet results — for both shareholders and the nation.
