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Business News

Dangote Flour breaks Guinness world record with puff puff

Dangote Flour Mills Plc initiates World Puff-Puff Day

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World Puff Puff day, Dangote Flour Mills Plc

Dangote Flour Mills Plc has broken the Guinness Book of Records for the World’s Largest Puff-Puff pyramid. The flour millers had fried two metric tonnes of flour to celebrate the 2018 World Puff-Puff Day on Saturday, October 27, 2018.

How the firm broke the record

The World Puff Puff Day, according to the Group Managing Director of Dangote Flour Mills, Thabo Mabe, is an initiative of the flour miller to celebrate three categories of people, the confectioners who fry the delicacy, the consumers who enjoy the snack and the sellers who make a living by selling it.

Mabe stated that the event was organised to celebrate Nigeria’s creativity in the local delicacy as well as further create awareness for the company’s 1.5kg size launched in March this year.

“The World puff-puff day is one of the most modern festivals. For us, we thought how do you bring flavour to the household and this is why we introduce the 1.5kg.

“This would make it easier for Nigerians to enjoy their puff-puff, bread and other pastries at a go and make it healthy as well, rather than buying it from the market measured with plastic, which may not be hygienic. But now the small kg is handy, it can be put in the cabinet and consumer can create a flavour of their choice.” – Mabe

The event which also had in attendance the president of Dangote Group, Aliko Dangote, saw the company brake the Guinness book record of 200kg, which equals to four bags of flour recorded to have been fried at a location.

To beat the record, Dangote Flour at the event had fried two metric ton of flour, which is over 40 bags of 50kg. Over 1,000 persons attended the event including school children drawn from different schools.

Following the success of the maiden edition, the Executive Director, Dangote Flour Mills, Halima Aliko-Dangote said the 2019 edition celebration would be in collaboration with other flour manufacturers in the country and would be held to further enlighten Nigerians on the various ways to use flour as well as its nutritional value.

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ).Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Macro-Economic News

BREAKING: Nigeria’s inflation rate surges to 18.17% in March 2021

Nigeria’s inflation rate for the month of March 2020, rose to 18.17% from 17.33% recorded in February 2021.

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Nigeria’s inflation rate for the month of March 2020, rose to 18.17% from 17.33% recorded in February 2021.

This is according to the Consumer Price Index report, recently released by the National Bureau of Statistics (NBS).

Food inflation spikes to 22.95% from 21.79% recorded in the previous month, while core inflation, which excludes the prices of volatile agricultural produce rose to 12.67% from 12.38% recorded in February 2021.

 

More details shortly…

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Business News

BUA Group, French company announce progress in 200,000 bpd refinery project

This is coming about 6 months after both firms signed an agreement for the supply of process technologies and the design of the facility.

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The BUA Group and Axens, a French-based petroleum technology company, have both signed a progress acknowledgement statement for the proposed BUA multi-billion-dollar integrated 200,000 barrels per day refinery in Akwa Ibom State.

This is coming about 6 months after both firms signed an agreement for the supply of process technologies and the design of the facility.

BUA, while making the disclosure in a statement on Wednesday, April 14, 2021, said that the French President, Emmanuel Macron, commended its Chairman, Abdul Samad Rabiu, for his commitment to developing lasting relationships between French and Nigerian businesses.

READ: What the $1.5 billion Port Harcourt refinery deal means to us – Maire Tecnimont

The statement said that this came as the French Minister for Foreign Trade and Economic Attractiveness, Franck Riester, paid a visit to the BUA Group Headquarters in Lagos where he handed over a personal invitation from Macron to Rabiu to attend the Choose France Summit in June in Paris representing business leaders from Nigeria and Africa.

The French minister also witnessed the signing of a progress acknowledgement statement between BUA Group and Axens of France for the proposed refinery project, according to the statement.

The statement also said that during the visit, it was announced that the BUA chairman had been appointed Chairman of the France Nigeria Investment Club.

READ: FG reacts to reports of revoking 32 refinery licenses

Sigma Pensions

While thanking the minister and Macron for their unwavering support in bringing BUA and French businesses together, Rabiu said BUA had so far initiated partnerships and had developed personal relationships with a few French businesses, including Axens.

He expressed confidence in the quality of expertise and technical know-how of the French companies BUA had partnered with.

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Rabiu pointed out that the BUA refinery would reduce the huge cost of transporting Nigerian crude offshore, refining it and bringing it back into the country when fully operational.

READ: Abdulsamad Rabiu’s stake in BUA Cement has increased by N1.2 trillion in value since listing in 2020

He said that the choice of Akwa Ibom for the refinery was due to the huge availability of raw materials and its proximity to export petroleum products to regional countries.

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The President of Axens, Jean Sentenac, in his statement, said he was pleased that the project was advancing on schedule and expressed delight for the very good cooperation between all the involved parties, reiterating the commitment of Axens in delivering the BUA Refinery Project on time and with the highest standards.

READ: FG to open LPG distribution channels in all local governments

Bottom line

The completion and take-off of the refinery owned by the BUA Group would come as a huge boost for the Federal Government’s effort to stop the importation of refined petroleum products, ensuring that the country becomes a net exporter of these products.

This will also help to conserve the scarce foreign exchange as the completion and take-off of the Dangote refinery and other similar refinery projects will help ensure self-sufficiency in the country.

The BUA Group, just a few days ago, was listed as one of the companies with an active refinery license from the Department of Petroleum Resources (DPR).

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