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Dangote Cement Plc releases Q3 2018 result

Dangote Cement Plc has released its results for the 9months ended 30th September 2018. Here are the key highlights of the results.

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Dangote Cement

Dangote Cement Plc has released its results for the 9 months ended 30th September 2018. Here are the key highlights of the results:

Revenue

Revenue for the company increased from N603 billion in 2017 to N685 billion. This represents a 13.54%  increase year on year.

Profit Before Tax

Profit Before Tax increased from N220 billion in 2017 to N247 billion. This represents a 12.35% increase year on year.

Profit After Tax

Profit after tax also increased from 154 billion in 2017 to 158 billion. This represents a 2.70% increase year on year.

Earnings Per Share

The earnings per share also increased from N9.04 in 2017 to N9.29 in 2018. This represents a 2.70% increase year on year.

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Current Share Price

Dangote Cement Plc is currently trading at N210.00 in today’s trading session on the floor of the Nigerian Stock Exchange.

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Fikayo has a degree in computer science with economics from Obafemi Awolowo University. ITIL v3 in IT service management. An alumnus of Daystar Leadership Academy. Prior to joining Nairametrics had stinct in Project management, Telecommunications among others. Also training in Consulting and Investment banking from Edubridge Academy. He has very keen interest in Politics, Agri-business, private equity and global economics. He loves travelling and watching football. You can contact him via [email protected]

1 Comment

1 Comment

  1. Blessed-Carter

    October 22, 2018 at 4:38 pm

    Am so much interested in the share aspect like seriously N210.00 damn I need an info into shares

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Energy

Electricity tariff increase is suspended for 2 weeks

The FG and the Nigerian Labour Unions have agreed to suspend the electricity tariff increase for a period of two weeks.

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Minister of Labour, Ngige, says labour demand will force government to sack workers

The Federal Government and the Nigerian Labour Unions have agreed to suspend the electricity tariff increase for a period of two weeks. This was part of the agreement reached between Labour and the Government as they deliberated to avert a nationwide strike that would have grounded an already deteriorating economy.

While the strike was over two major issues, an increase in electricity charges and fuel price respectively, the decision to call off the strike was based on the suspension of the electricity bills. The following terms of reference underpinned the agreement between Labour and the Government.

Terms of reference for suspension of electricity increase for 2 weeks.

Terms of reference “The Terms of Reference (ToR) are as follows: To examine the justification for the new policy on cost-reflective Electricity Tariff adjustments.”

  • Both parties are to examine the justification for the new policy on cost-reflective tariff adjustment
  • To look at the different Electricity Distribution Company (DISCOs) and their different electricity tariff vis-à-vis NERC order and mandate.
  • Examine and advise government on the issues that have hindered the deployment of the six million meters.
  • To look into the NERC Act under review with a view to expanding its representation to include organized labour.
  • The Technical sub-committee is to submit its report within two weeks.
  • During the two weeks, the DISCOs shall suspend the application of the cost-reflective electricity tariff adjustments. “The meeting also resolved that the following issues of concern to Labour should be treated as stand-alone items:
  • The 40% stake of government in the DISCO and the stake of workers to be reflected in the composition of the DISCOs Boards.
  • An all-inclusive and independent review of the power sector operations as provided in the privatization MOU to be undertaken before the end of the year 2020, with Labour represented.
  • That going forward, the moribund National Labour Advisory Council, NLAC, be inaugurated before the end of the year 2020 to institutionalize the process of tripartism and socio dialogue on socio-economic and major labour matters to forestall crisis.

What this means: The decision reached between the government and labour means the service reflective tariff regime which started on September 1, 2020, is effectively suspended. Customers are therefore no longer required to pay the service reflective tariffs and will revert to the previous MYTO tariffs of 2015.

  • By looking at the “different Electricity Distribution Company (DISCOs) and their different electricity tariff vis-à-vis NERC order and mandate” it appears labour might be looking to recalibrating the tariffs for some Discos.
  • According to documents on the tariff order published by the NERC, some Discos have tariffs for residential customers that are as high as N62/kWh while it’s just under N54 for others.
  • Labour could also get involved in determining the veracity of the tariff bands that determines which customers pay what as electricity tariffs.

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Business

Just-in: NLC, TUC suspend nationwide strike

Hike in electricity tariff to be suspended for 2 weeks, while new pump price of petrol remain unchanged.

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Ayuba Wabba, Why the FG should reverse 6% tenancy, lease stamp duty - NLC

The Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) have suspended the planned nationwide strike and protest that was to commence on Monday, September 28, 2020, over the recent hike in electricity tariff and petrol pump price.

This follows the agreement reached between the Federal Government and the organized labour during the meeting held by both parties which started on Sunday night and dragged on till the early hours of Monday morning.

The disclosure was made by the Minister of State for Labour and Employment, Festus Keyamo, through a tweet post on his twitter handle.

In the agreement between the Federal Government and organized labour, the hike in electricity tariff is to be suspended for a period of 2 weeks, while the new pump price of petrol is to remain unchanged.

According to the agreement, which was seen by Nairametrics, both parties agreed to set up a technical committee on Electricity Tariff reforms, comprising Ministries, Agencies, Departments, NLC and TUC, which will work for a duration of 2 weeks with effect from Monday, September 28, 2020, to examine the justification of the new policy in view of the need for the validation of the basis for the new cost-reflective tariff.

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This is due to the conflicting field reports which appear different from the data presented to justify the new policy by NERC, metering deployment, challenges, timelines for massive rollout.

The technical committee is to be headed by the Minister of State for Labour and Labour, Festus Keyamo.

Other members of the committee include the Minister of State Power, Godwin Jedy-Agba, Executive Chairman, National Electricity Regulatory Commission (NERC), James Momoh, Special Assistant to the President on Infrastructure, Ahmad Zakari as the Secretary.

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Also in the committee are Onoho’Omhen Ebhohimhen, Joe Ajaero (NLC), Chris Okonkwo (TUC) and a representative of electricity distribution companies.

The terms of reference for the technical committee include;

  • To examine the justification for the new policy on cost-reflective electricity tariff adjustments.
  • To look at the different Electricity Distribution Companies (DISCOs) and their different electricity vis-à-vis NERC order and mandate.
  • Examine and advice government on the issues that have hindered the deployment of the 6 million meters.
  • To look into the NERC act under review with a view to expanding its representation to include organized labour.

 

 

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Coronavirus

COVID-19 Update in Nigeria

On the 27th of September 2020, 126 new confirmed cases and 2 deaths were recorded in Nigeria

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The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 58,324 confirmed cases.

On the 27th of September 2020, 126 new confirmed cases and 2 deaths were recorded in Nigeria, having carried out a total daily test of 3,011 samples across the country.

To date, 58,324 cases have been confirmed, 49,794 cases have been discharged and 1,108 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 505,556  tests have been carried out as of September 27th, 2020 compared to 502,545 tests a day earlier.

COVID-19 Case Updates- 27th September 2020,

  • Total Number of Cases – 58,324
  • Total Number Discharged – 49,794
  • Total Deaths – 1,108
  • Total Tests Carried out – 505,556

According to the NCDC, the 126 new cases were reported from 12 states- FCT (30), Lagos (24), Rivers (23), Ogun (13), Katsina (9), Plateau (9), Ondo (6), Kaduna (4), Kwara (4), Imo (2), Bauchi (1), Edo (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 19,239, followed by Abuja (5,674), Plateau (3,388), Oyo (3,254), Edo (2,624), Kaduna (2,397), Rivers (2,347), Ogun (1,836), Delta (1,802), Kano (1,737), Ondo (1,631), Enugu (1,289), Ebonyi (1,040), Kwara (1,032), Abia (891), Gombe (864). Katsina (857), Osun (827),  Borno (741), and Bauchi (698).

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Imo State has recorded 568 cases, Benue (481), Nasarawa (449), Bayelsa (398),  Jigawa (325), Ekiti (321), Akwa Ibom (288), Niger (259), Adamawa (237), Anambra (234), Sokoto (162), Taraba (95), Kebbi (93), Cross River (87), Zamfara (78), Yobe (76), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

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The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

 

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