Wednesday, April 1, 2020

Tag "Dangote Cement"

    Truck kills six persons in Lagos

Truck kills six persons in Lagos

An accident involving a truck with an unknown registration number has killed six persons on Epe expressway in Lagos state. Olufemi Oke-Osanyintolu, director-general of Lagos State Emergency Management Agency (LASEMA), confirmed the incident in a statement on Wednesday. He said the truck, which belongs to Dangote Cement company, fell on a loaded commercial taxi OPEL car with registration number SMK-312ES. Oke-Osanyintolu said the [...]

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    MTN’s reign as NSE’s largest company cut short by Dangote Cement

MTN’s reign as NSE’s largest company cut short by Dangote Cement

It will go down in history that MTN Nigeria Communications spent two days as the largest company by market capitalisation on the Nigerian Stock Exchange (NSE). At the close of trading on Thursday, MTN's market capitalisation was N2.80 trillion while Dangote Cement's market capitalisation was N2.84 trillion. Shares belonging to both companies were among the top gainers on the bourse. MTN's shares gained [...]

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    MTN Nigeria overtakes Dangote Cement as NSE’s largest company

MTN Nigeria overtakes Dangote Cement as NSE’s largest company

MTN Nigeria has become the largest company by market capitalisation on the Nigerian Stock Exchange (NSE). At the end of trading on Monday, MTN Nigeria's shares closed at N138.70 per share bringing the company's market capitalisation to N2.82 trillion as against Dangote Cement's N2.81 trillion. Shares belonging to Dangote Cement closed at N164.5 per share. In May when MTN Nigeria listed on the [...]

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    NSE investors lose N287bn in five hours

NSE investors lose N287bn in five hours

Investors on the Nigerian Stock Exchange lost N287 billion in the five trading hours of Friday; a move that saw market capitalisation drop below the N13 trillion mark. The last time the market experienced a loss of this magnitude was on August 15, 2017. The All-Share Index lost 786.19 points or 2.17 per cent to close at 35,446.47 compared with 36,232.66 on [...]

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    Dangote Cement considering new production lines in Edo, Obajana

Dangote Cement considering new production lines in Edo, Obajana

Joe Makoju, the acting group chief executive of Dangote Cement, says the company is considering the possibility of two new production lines in Edo state and Obajana in Kogi state. Speaking at the company's annual general meeting on Wednesday, he said the company will focus on building new grinding plants across the coast of West Africa. "As it stands, I think we [...]

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Dangote cement posts N805.6bn revenue in 2017, declares N10.50

Dangote cement has announced a revenue of N805.6 billion for the financial year ended Dec. 31, 2017. The revenue represented an increase of 31 per cent when compared to N615.1 billion achieved in the corresponding period of 2016. The results released by the Nigerian Stock Exchange (NSE) showed that profit before tax rose by 60.1 per cent to N298.6 billion from N180.9 billion [...]

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    Report: Dangote to raise $1bn on London Stock Exchange

Report: Dangote to raise $1bn on London Stock Exchange

Plans are underway for Dangote Cement Plc to raise $1 billion from a share sale on the London Stock Exchange, a report by Bloomberg has claimed. Bloomberg reports that the company, which is owned by Aliko Dangote, has approached investment banks to discuss a possible listing. "The Nigerian company, controlled by Aliko Dangote, has approached investment bankers to discuss a potential UK [...]

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    NSE gains for third consecutive day, heads for N13trn

NSE gains for third consecutive day, heads for N13trn

Transactions on the Nigerian Stock Exchange (NSE) recorded a profit for the third consecutive day and may hit N13 trillion on sustained gains. The market had hit the N13 trillion mark in August, the first time since 2014. Market capitalisation, which stood at N12.694 trillion at the start of trading, gained N72 billion to close at N12.766 trillion. All-share index also rose by [...]

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    Stock Exchange Rally: Dangote makes $1.1bn in six days

Stock Exchange Rally: Dangote makes $1.1bn in six days

Aliko Dangote, Africa's richest man and president of Dangote group, has recorded a $1.1 billion increase in fortune over the last six days. The increase in Dangote's fortune is due to the rally currently being recorded at the Nigerian Stock Exchange (NSE) over the week. TheCable understands that NSE has gained N1.06 trillion in June alone, and about 30 percent of that [...]

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    Here is how Nigerian stocks gained N780bn in two days

Here is how Nigerian stocks gained N780bn in two days

Nigerian stocks rose to a more than six-month high on Wednesday, after gaining N780,160,038,889 to hit a market capitalisation of N9.825 trillion. NSE was lifted by gains in the banking, cement and oil sectors as dollar liquidity continued to improve on the currency market. The main index marked its third consecutive day of gains, closing up 2.95 percent at 27,546 points, a [...]

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    In 2016, Dangote sold 8.6 million metric tons of cement outside Nigeria

In 2016, Dangote sold 8.6 million metric tons of cement outside Nigeria

Dangote Cement Plc exported 0.4 million tons of cement in 2016, 54 percent more than what it shipped in 2015. The export by Africa’s foremost cement manufacturer has ended the era of Nigeria’s dependence on importation. News about the increased export was not the only one delivered by the company on Tuesday. In its 2016 full year audited results presented on the floor [...]

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    Dangote Cement revenue rises to N292bn

Dangote Cement revenue rises to N292bn

Dangote Cement Plc has reported a revenue of N292 billion in the second quarter of 2016, indicating an increase of 20 percent over N242 billion posted in the corresponding period in 2015. According to the reports filed with the Nigerian Stock Exchange (NSE), the company’s profit for period stands at N106.3 billion representing a decline by three percent from N123.1 billion declared [...]

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    Dangote loses N473m in 24 hours as Zimbabwe mulls import tariff

Dangote loses N473m in 24 hours as Zimbabwe mulls import tariff

Aliko Dangote, Africa’s richest man, lost $2.4 million (N473 million) in the last 24 hours, as Zimbabwean cement majors call for increase tariff on imported cement. Dangote Cement, Nigeria’s most valuable company, is seen as affecting sales and jobs of major cement manufacturers in Zimbabwe. According to Bloomberg, Zimbabwe’s cement industry has called on the government to impose tariffs on imports from [...]

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    Ghana to ban importation of cement from Nigeria

Ghana to ban importation of cement from Nigeria

Ghanaian authorities are gearing up to ban the importation of cement from China, Nigeria, and some other members of the ECOWAS community. The country’s ministry of Trade and Industry has given a public notice of its intended executive action aimed at protecting the local cement industry from what was regarded as “cheap imports”. In a statement signed by Ekwow Spio-Garbrah, the [...]

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    Posterity ‘won’t forgive us’ if Dangote leaves Okpella

Posterity ‘won’t forgive us’ if Dangote leaves Okpella

Youths in Okpella, a community in Edo state, insist that Aliko Dangote, Africa’s richest man, must build a cement factory in their local community. The youths took to the streets after in response to hearsays that Dangote Group was pulling out of his multi-million dollar investment plan from the community. Protesting to the palace of the paramount ruler of Okpella Kingdom, Yesufu [...]

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    Dangote ‘owns’ nearly half of stock exchange

Dangote ‘owns’ nearly half of stock exchange

At 43 percent, Dangote Group, predominantly owned by its president Aliko Dangote, Africa’s richest man, owns about half of the stocks listed on the Nigerian Stock Exchange. The business mogul, who was recently rated by Forbes Magazine to be richer than all Nigerian dollar billionaires put together, owns 90 percent shares in one of NSE’s premium brand, Dangote Cement. According to Forbes, [...]

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Exchange Rates

March 25, 2019USDGBPEUR
INTERBANK306397354
LAGOS380478402
KANO375477498
PH380478498
ABUJA375476400
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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