Dangote Sugar Refinery Plc has reported a 51% increase in turnover to N665.6 billion for the year ended December 31, 2024.
The company’s chairman, Aliko Dangote, made this known at the 19th Annual General Meeting (AGM) of the company.
Despite macroeconomic challenges, Dangote expressed optimism about the company’s future, citing plans to build a sustainable business and target the production of 1.5 million metric tonnes of refined sugar annually. The company also aims to generate over 75,000 employment opportunities in its value chain.
Shareholders at the AGM commended the board and management of Dangote Sugar Refinery Plc for maintaining its leadership in the Nigerian sugar industry despite economic challenges.
They acknowledged the company’s position as one of the largest sugar refineries in Sub-Saharan Africa and the leading player in Nigeria’s sugar sector.
The Group Managing Director/CEO, Ravindra Singh Singhvi, reiterated the company’s goal of achieving self-sufficiency in sugar production for Nigeria, with a target of producing 700,000 tonnes of sugar locally within the next five years.
The company is expanding its Backward Integration Projects (BIPs) and commissioning a new power plant to enhance operational efficiency.
Shareholders lauded the company’s impact on broader society through its Corporate Social Responsibility (CSR) initiatives, which have benefited not only shareholders but Nigerians at large.
Dangote Sugar Refinery Plc’s impressive performance and future plans demonstrate its commitment to growth and sustainability.
The company’s goal of achieving self-sufficiency in sugar production and generating employment opportunities is expected to have a positive impact on the Nigerian economy.
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