The Chairman of Dangote Sugar Refinery Plc, Aliko Dangote, has revealed that his company’s turnover increased by 51% to N665.6 billion for the year ended December 31, 2024, as against the N441.5 billion recorded for 2023.
The popular business mogul said the company aims to make its business more sustainable by targeting the production of 1.5 million metric tonnes of refined sugar yearly, while also generating more than 75,000 jobs for unemployed Nigerians.
Speaking at the 19th Annual General Meeting (AGM), Ms Bennedikter Molokwu applauded Dangote Sugar Refinery’s 2024 performance and hailed its impact despite the several macro-economic obstacles faced.
Shareholders at the AGM also commended the Board and management of the company for being pacesetters in the Nigerian sugar industry.
They described Dangote Sugar as one of the largest sugar refineries in the whole of Africa, a spot that is undisputed due to its combined installed refining capacity of 1.49 million tonnes per annum.
According to the President of the Association for the Advancement of the Rights of Nigerian Shareholders, Dr. Farouk Umar, Dangote’s exploits in 2024 must be studied, because despite the various economic hurdles he kept encountering last year, he still managed to maintain a steady growth trajectory.
He further appreciated Aliko Dangote for making Nigeria self-sufficient in sugar production and for also increasing shareholder value.
“Our turnover of N665.6 billion represents a 51% increase compared to N441.5 billion in the same period in 2023. Earnings per share rose from N6 to N15.80. In the current economic climate, many companies are struggling to grow revenues or maintain profitability. We must commend the Board for their efforts in expanding operations and increasing shareholder value. Alhaji Dangote has pledged that the company will make Nigeria self-sufficient in sugar production,” he said.
President of the De-Impressive Shareholders’ Association of Nigeria, Pastor Olagoke Samson Olusegun, also saluted Dangote and his executive team for constantly doing the needful to take the company to the next level.
Aliko Dangote stated that Dangote Sugar Refinery will keep concentrating on expanding its strategic initiatives in 2025 despite existing volatility. He further reassured Nigerians of his company’s commitment to keep raising the bar for corporate governance.
