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Dangote to save forex, through 40% sugar import substitution

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To employ 30,000 youths in Nasarawa….

Management of Dangote Sugar Refinery Plc has resolved to significantly reduce the importation of sugar into the country by 40 percent, thus paving the way for the employment of over 30,000 youths.

 

President of Dangote Group, Aliko Dangote explained recently in a chat with newsmen that it was embarking on Phase II of its Sugar project, which will then cover over 100,000ha to make the sugar plant, the largest in Africa.

 

Dangote said that the integrated sugar complex to be located in Tunga, Awe Local Government Area of Nasarawa State, comprises 60,000ha sugar plantation and two sugar factories with the capacity to produce 430,000 tonnes of refined white sugar per annum.

 

Meanwhile, the Nigerian Ports Authority (NPA)’s shipping data revealed that Auarius Honor and Ocean Crown would be at Greenview Development Nigeria Limited (GDNL), a subsidiary of Dangote Group to offload 45,850 tonnes and 46,750 tonnes respectively. Following high demand in the food and drinks sector, GDNL took delivery of 187,000 tonnes from four vessels in May this year.

 

At the terminal, Common Galaxy came with 48,800 tonnes; Bonny Island, 47,200 tonnes; Chayanee Naree, 46,000 tonnes, and Karteria Bluesrar, 45,000 tonnes. Also, in April, the terminal took delivery of 91,600 tonnes when Unity Bluestar offloaded 47,200 tonnes and Ecoatlantic, 44,400 tonnes.

 

The NPA shipping data also noted that 67,000 tonnes of sugar were offloaded at ENL Consortium and GDNL, noting that the ENL terminal took delivery of 20,000 tonnes from Doro, while Baltic Mantis discharged 47,000 tonnes at GDNL.

 

It added that Genco Picardy arrived with 46,500 tonnes in February, while two vessels offloaded 101,422 tonnes in January, stressing that Desert Calm berthed with 55,352 tonnes and Pauline, 46,070 tonnes. Finding from Index Mundi, a trade portal revealed that the country has already imported 965,000 metric tonnes of raw this year.

 

Also, the country imported $1.82 billion beet sugar, sugar syrups, and other sugar confectionery in the last two years. Sugar is currently on the list of commodities on the foreign exchange restriction list of the Central Bank of Nigeria (CBN). Also, statistics from Trade Data Monitor (TDM) based on the Brazilian Foreign Trade explained that Brazil exports rose from $458.9 million in 2019 to $702.8 million in 2020.

 

According to TDM, Brazil’s cumulative raw sugar exports to Nigeria in 2020/21 season was 1.62 million tonnes, while domestic cane sugar production has slumped from 75,000 tonnes to 70,000 tonnes, about 6.7 percent decline within one year. The country had projected to meet 800,000 tonnes target of raw sugar production by 2022 as demand by the food and drink manufacturing and retail markets is on the increase.

 

However, Nigeria could not meet up to five percent target as data from National Sugar Development Council (NSDC) revealed that in 2016, local production of refined sugar was 25,000 tonnes; 2017, 20,184 tonnes; 2018, 14,918 tonnes and 2019, 28,597 tonnes; 2020, 75,000 tonnes and 2021, 75,000 tonnes.

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Doyin Okupe appeals money laundering conviction

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Former Director-General of the Labour Party Presidential Campaign Council, Doyin Okupe, has appealed his conviction on money laundring charges by the Federal High Court in Abuja.

Justice I. L. Ojukwu on December 19, 2022 convicted him of two counts of money laundering and sentenced him to two years imprisonment with an option of fine.

The Economic and Financial Crimes Commission had told the court that Okupe received over N200m cash from a former National Security Adviser, Col. Sambo Dasuki (retd.), without going through the bank.

The anti-graft agency said he violated the provisions of the money laundering law.

In an appeal filed by his lawyer , Joe-Kyari Gadzama, SAN, on Thursday, Okupe is seeking the reversal of his conviction.

He argued that he received the said sums in cash not in his individual capacity but for the Office of the Senior Special Adviser to the President Goodluck Jonathan on Public Affairs.

He said he acted under the instructions of the ex-President and hence, he should not be penalised unjustly.

 

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FIRSTBANK ANNOUNCES CALL FOR APPLICATION IN THE THIRD EDITION OF ITS FIRSTBANK MANAGEMENT ASSOCIATE PROGRAMME (FMAP)

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First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced the call for participation in the third season of its FirstBank Management Associate Programme (FMAP).

 

Interested participants are required to submit their application via https://hdbc.fa.em2.oraclecloud.com/hcmUI/CandidateExperience/en/sites/CX.

 

The application is extended to the general public as it closes by 24 March 2023.

 

The FirstBank Management Associate Programme (FMAP) is a 24-month fast-track comprehensive programme targeted at young, dynamic and highly driven individuals that are passionate about making a difference in the financial services industry. The programme is designed to build the next generation of leaders to drive the Bank’s vision of being Africa’s Bank of First choice.

 

FMAP equips participants with an extensive wealth of experience comprised of both classroom and real-life work that affords an insightful and balanced insight into the world of work. The programme is targeted at hi-potential young professionals who possess acute thinking skills, financial and methodical skills, and a distinctive ability to communicate effectively and synthesize ideas, information, and data to aid decision-making.

 

Speaking on the FMAP Season III, Olumuyiwa Olulaja, Group Head, Human Capital Management and Development, said “since its inauguration in half a decade, we are delighted with the giant strides and impact the initiative has had in promoting the career development of emerging talents in the financial services industry as they are instilled with the tenets and ethics of the banking industry in line with global best practice.

 

The FMAP initiative is amongst the many ways we reinvest in our human capital as we build the next generation of leaders through their exposure to various opportunities essential to preparing their readiness for the future.

 

Since its launch in 2018, FirstBank has successfully trained and onboarded up to fifty talented individuals in 2 editions (2020 and 2022), who have all been deployed into strategic roles in the Bank and making a difference in the organization, while we continue to support their leadership growth and development.

 

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Omojafor, Eiremiokhae, Babaeko, others set to be honoured at ‘The Industry Awards4.0’

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· Renamed Lifetime category

 

The management of The Industry Newspaper organisers of ‘The Industry Summit/Awards’ has stated that some distinguished marketing communications professionals in the country would be conferred with some highest awards in this year’s event scheduled to be held on Friday, March 31st, 2023 in Lagos.

 

The year’s award is looking at the performances of 2022 and the top winners include Sir Steve Bamidele Omojafor, Chairman, STB-McCann Limited, Mr. Steve Babaeko, Group Chief Executive Officer, X3M Ideas, Dr. Felix King Eiremiokhae, CEO MABISCO/Oracle Experience, Mrs. Nkechi Ali-Balogun, CEO NECCI, Mrs. Bridget Oyefeso-Odusami, Head Marketing & Communications, Stanbic IBTC, Mr. Anthony Chiejina, Chief Brand Officer, Dangote and Mr. Adedayo Ojo, CEO Caritas.

 

Others are Mr. Rotimi Bankole, CEO SBI Stagwell, Mr. Olugbenga Victor Afolabi, CEO GDM Group, Chief Charles Azu Chijide, CEO Charella Group, Dr. Olalekan Fadolapo, Director General Advertising Regulatory Council of Nigeria (ARCON), and Mr. John Ehiguese, CEO Mediacraft Limited.

Sir Omojafor, an accomplished marketing and advertising practitioner is unanimously voted The Industry Doyen of Advertising for 2022, the category won by Dr. Biodun Shobanjo last year for 2021 Awards. Omojafor, a former Chairman of Zenith Bank Plc has unarguable accomplishments in a career span over four decades.

 

Coincidentally, Omojafor would chair this year’s summit, which parades some of the best brains in the industry that would discuss issues in data management and government policy as it affects the manufacturing sector.

 

In another category, Dr. Eiremiokhae has emerged CEO of the Year in a very keenly contested category. He won the category because of the work has put in to grow and expand Mayor Biscuits Company (MABISCO) during the year under review.

 

Dr. Eiremiokhae is a renowned integrated marketing communications professional who majors in experiential marketing but branching out to build one of the biggest beverage companies in Nigeria and made extensive strides in such a few years is monumental, said Chairman of the Industry Awards Panel, Ms. Clara Okoro.

 

In another development, The Industry Lifetime category was renamed ‘The Industry ALL STAR’ and winners emerged after a painstaking evaluation and analysis of each recipient over the course of 10 years and above on their roles in advancing the growth and development of the imc industry.

 

The winners in this category date back to 2019 which are Mr. Udeme Ufot, GCEO, SO&U, Mr. Nnaemeka Maduegbuna, Chairman, C&F and Mr. Lolu Akinwunmi, Chairman Prima Garnet. 2020 winners are Mr. Jimmy Awosika, Executive Vice Chairman, Troyka Holdings, Chief Yomi Badejo-Okusanya, GCEO, CMC Connect, Mr. Tolu Ogunkoya, RGEO, OMG WeCA and Dr. Eiremiokhae.

 

The 2021 winners were Mr. Emeka Okeke, CEO Dentsu Mediafuse, Engr. Dozie Mbanefo, CEO New Crystal, Dr. Onyekachi Onubogu, CEO Frutta Juice & Services, Dr. Phil Osagie, CEO JSP Communications, Mr. Kunle Onime, CEO Marketing & Promotion Concepts Limited and Mr. Enyi Odigbo, Chairman, CASERS Group.

 

According to Ms. Okoro these practitioners were carefully chosen and they represent some of the brightest practitioners who have made a huge impact in the industry and they deserve to be rewarded with this laurel.

 

“This is the first time the category would be honouring 10 practitioners and there are other categories ranging from corporate, individual, brand and legacy categories,” she added.

 

Speaking on this year’s event, the convener, Mr. Goddie Ofose stated that despite the several challenges faced by businesses last year, imc organisations have continued to hold their grounds as well as sustain the high standard occasioned by digitalization and technology.

 

“Professional, individual, corporate and product brands deserve to be celebrated at the time because to whom much is given much is expected.”

 

The keynote speaker for the 2023 summit is Tolu Ogunkoya of OMG WeCA and co-speaker is Ekuma Eze of Nigerian Bottling Company. Both would be speaking on the papers: Data to Action: How Marketers Can Rationalize Performance Measurement & Drive Efficiencies with Intelligence’ and ‘Fast Moving Consumer Goods (FMCG): Impact of Government Policy Shift on the Industry, Consumers respectively.

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