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Companies

Dangote Fertilizer Contractor Staff tests Negative to COVID-19

Dangote Fertilizer Limited, contractor staff who had shown symptoms associated with COVID-19 and subsequently isolated, has been confirmed negative.

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An Indian staff of Onshore Construction Company, an instrumentation contracting firm with Dangote Fertilizer Limited, who had shown symptoms associated with COVID-19 and subsequently isolated, has been confirmed negative.

Lagos State Commissioner for Health, Prof. Akin Abayomi, who disclosed the outcome of the test via his Twitter handle said, “An Indian national that was admitted in our facility yesterday (Monday) night with symptoms suggestive of #COVID19 has tested negative to #COVID19.

He is doing perfectly well in our isolation unit. His case will be reviewed in the morning (Wednesday)”, the tweet added.

Coronavirus (COVID-19): Suspected case in katsina tests negative,Dangote Fertilizer Contractor Staff tests Negative to COVID-19

It would be recalled that the management of Dangote Industries Limited had announced that an Indian national working for a third party firm at its fertilizer plant had shown up at the site clinic exhibiting symptoms suggestive of Covid-19 pandemic and was immediately quarantined and taken to the Lagos Mainland Hospital, Yaba.

According to the company, “the patient’s complaint triggered our COVID-19 Preparation and Prevention Protocols which necessitated further screening and isolation immediately.”

DIL said one Mr. Akhil Kunyil, of the Health and Safety Environment unit of the Onshore Company, had reported the development to it, following which local authorities were contacted.

READ MORE: How COVID-19 affects Nigeria’s N26 trillion refund plan

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“The suspected COVID-19 patient was immediately moved to the Lagos Mainland Hospital where he was placed in an isolation ward for a confirmatory test, which later turned out to be negative.

“As an organization we have taken the following stringent proactive measures across our entire group. These include: As an organization we have taken the following stringent proactive measures across our entire group:

  • Development of comprehensive risk identification, control prioritization, and escalation plan executed by our Covid-19 Task Force constituted in January 2020.
  • Identification and retention of a competent team of medical consultants
  • Travel ban for all employees to/from high-risk countries as per W.H.O publications of country exposures
  • Travel tracking of all employees and contractors staff arriving/leaving Nigeria and obligations for completion of medical checks to validate health status
  •  Implementation of the use of Thermal cameras across our various sites as well as infrared thermometers checking in smaller office locations
  • Identification and creation where applicable of holding, isolation and quarantine areas.
  • Implementation of the use of sanitizers across all locations: sites and offices
  • Multiple and continuous awareness campaigns on preventative measures to be taken (both electronic and physical i.e posters, public announcements)

The measures, the company management said are being continually updated as the situation globally evolves and will continue to do so. “The welfare of our employees and the nation as a whole remains our utmost priority.”, it added.

With the breakout of the coronavirus (Covid-19) pandemic, the Aliko Dangote Foundation (ADF) had announced a donation of N200 million to support efforts of the Federal government towards curbing the spread of the virus in the country.

Speaking during the donation in Abuja, the Managing Director and Chief Executive Officer of the Foundation, Ms. Zouera Youssoufou, who was represented by the Health and Nutrition Programme Officer, Maryam Shehu-Buhari, said the donation was part of the Foundation’s cardinal objective of partnering governments at all levels against the dreaded disease in Nigeria and the rest of Africa.

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In this regard, she stated that the Foundation has earmarked a sum of N124 million to support the procurement of facilities that will help prevent, assess and respond to health events at Points-of-Entry to ensure National Health Security.

Youssoufou also highlighted other areas of intervention to include surveillance and epidemiology, where facilities worth N36 million will be provided by the Foundation to support the government’s efforts.

(READ MORE: BMW shuts down European factories over Coronavirus)

The Federal Government had acknowledged the kind gesture by the Aliko Dangote Foundation and commended its Chairman, Aliko Dangote for always rising to the occasion whenever the need arises.

The government recalled similar intervention during the Ebola crisis when the Foundation led efforts at ending the scourge not only in Nigeria but generally on the African continent.

NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

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Companies

COVID-19, VAT, FX scarcity adversely impacted our operations in 2020 – Nigerian Breweries boss says

NB Plc’s operations in 2020 were adversely impacted by the COVID-19 pandemic, VAT increase and FX devaluation.

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Heineken scoops more Nigerian Breweries shares in insider disclosure

The management of Nigeria’s leading brewer, Nigerian Breweries Plc has revealed that its operations in 2020 were adversely impacted by the COVID-19 pandemic, VAT increase, FX devaluation and scarcity of foreign exchange.

This statement was made by the Managing Director of Nigerian Breweries, Mr Jordi Borrut Bel, at the company’s pre-AGM media briefing for the financial year-end 2020, which held in Lagos this week.

He noted that the increase in the brewer’s cost in 2020 was due to the COVID-19 pandemic which disrupted the company’s operations, as well as the increase in VAT, devaluation and FX scarcity which has put pressure on input cost.

READ: Alcoholic beverage makers on NSE lose a total N27.7 billion in a single day

The Nigerian Breweries boss explained further that the increase in cost could not be fully attributed to currency devaluation and foreign exchange scarcity.

He explained that the increase in costs of goods sold, as reported in its audited financial results, could also be linked to the increase in the volume of goods sold, as the company’s sales volume in 2020 increased by almost the same percentage as the cost of goods sold.

To deal with this challenge going forward, he revealed that the company is focused on the supply chain, and will continue to seek out ways to mitigate any of the price increases coming from FX scarcity.

READ: Brewery sector: A quarter to forget

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The company’s profitability in question?

An analysis of the company’s result revealed that despite the 4.3% increase in net revenue from N323.00 billion recorded in 2019, to a total of N337.01 billion in 2020, the company’s profit declined significantly by 53.3% to N7.53 billion.

Speaking on this, Jordi Borrut in his statement at the press briefing noted that the brewer’s business performance in 2020 was quite impressive especially in the face of the COVID-19 pandemic and economic recession. Despite these challenges, the company maintained a strong and healthy balance sheet.

There was a slight reduction in profitability but compared to the previous year, the business witnessed an improved growth in revenue. The significance of this is that the business became more stable and healthier,” he said.

READ: Nigeria’s triangular beer war on the rise with the arrival of Budweiser

What you should know

  • Nigerian breweries, being the largest brewer in the country, maintained its stance in terms of generating profits year-on-year. The company emerged as the only brewer to record a profit of N7.37 billion from its operations in 2020, 54.3% lower than 2019 figures (N16.1 billion).
  • From this, the leading brewer was able to pay shareholders a total dividend of N7.5 billion, translating to a dividend of 94 kobos per share – a dividend payout in which exceeds 100%.
  • While Guinness and International Breweries made a loss of N12.6 billion and N24.9 billion respectively, this reality impacted their ability to pay their shareholders dividends in 2020.

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Highest paid Nigerian bank MD/CEOs of 2020

Bank MD/CEOs in Nigeria earned a combined N1.5 billion in salaries in 2020.

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The banking sector, especially commercial banks, is one of the most profitable sectors of the Nigerian Economy churning out profits of close to a trillion in 2020 alone. They are also one of the highest employers of labours in the country employing over 93,000 Nigerians.

Sitting at the helm of affairs is the Chief Executive/Managing Director, the highest-ranking executive in the organization saddled with the responsibility of making the best corporate decisions, oversight of the execution of the organisation’s corporate strategies and most importantly increasing the shareholders’ return. The buck basically stops on their table.

Thus, these enormous responsibilities also come with a considerable executive compensation for their service making them ostensibly the highest-ranking staff of the bank.

READ: Jim Ovia: From a clerk to founder of Nigeria’s most profitable bank

In typical Nairametrics fashion, we bring to you a list of the highest-ranking bank CEOs for 2020 based on their executive compensation (exec comps). The bank MD/CEOs under our review earned over N1.5 billion in salaries in 2020.

The data was sourced from the published audited accounts of the bank and verified by Nairametrics Research.

 

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