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DANGOTE CEMENT
Dangote Cement PLC has announced that its Board of Directors has approved plans to raise medium- to long-term debt funding from the domestic capital markets to improve its financial structure and support ongoing operations.
Shareholders in Dangote Cement have consistently benefited from robust dividends, with cumulative payouts reaching N2.8 trillion by 2024.
Dangote Cement Plc saw a marginal increase in its pre-tax profit in the first nine months of 2024 to N406.38 billion as high finance and production costs gulped revenues during the period.
Due to the increased and unsatble exchange rate, the cost of production have almost doubled for manufacturing companies in the last one year.
Determined to boost food production and enhance socio-economic development of its host communities, Dangote Cement, Ibese Plant has donated agricultural supplies to local farmers.
The Nigerian job market is characterized by a dynamic interplay of opportunities and challenges, continually evolving due to the efforts of key players across various industries.
As Nigeria's economic landscape continues to shift, the debt profiles of some of the nation's largest and most capitalized companies are climbing to high levels.
Despite Nigeria's challenging economic environment, characterized by persistent naira devaluation, high inflation, and socio-economic instability, the country's leading companies have achieved laudable market capitalizations.
Just like other sectors, such as consumer goods and ICT, which have negatively been affected by the 2023 policy shifts, the industrial sector has not been left out.
Aliko Dangote, Africa's richest man, lost $651 million due to naira devaluation and sell-offs in Dangote Cement, affecting his wealth.
Cement distributors in Lagos have stated that prices of the commodity might rise to levels seen earlier in the year during the next dry season when demand increases.
In the first half of 2024, the Nigerian Exchange (NGX) advanced by 33.81%. The All-Share Index concluded the first half of the year at 100,057.49 points, a notable increase from its starting position of 74,773.77 points.