Dangote Sugar’s Sustained Profitability Amid Challenges Amazes Shareholders

Last year, the sugar miller improved its turnover by 51 per cent to N665.6 billion from N441.5 billion a year earlier, with the earnings per share (EPS) rising to N15.80 from N6.00 in 2023.

They praised the board and management of Dangote Sugar for making the company a leader in the Nigerian sugar industry, despite prevailing economic challenges.

They also lauded the company’s impact on broader society through its Corporate Social Responsibility (CSR) initiatives, which they said have benefited not only shareholders but Nigerians at large.

Speaking at the 19th Annual General Meeting (AGM) of the organisation on Tuesday, the president of the Association for the Advancement of the Rights of Nigerian Shareholders, Mr Farouk Umar, said, “Our turnover of N665.6 billion represents a 51 per cent 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.”

Also, the president of the De-Impressive Shareholders’ Association of Nigeria, Mr Olagoke Samson Olusegun, showed encomiums on the chairman of Dangote Sugar, Mr Aliko Dangote, and the executive team for steering the company to higher levels of success.

On his part, the chairman of the Trusted Shareholders Association of Nigeria (TSAN), Mr Mukhtar Mukhtar, described Dangote Sugar’s performance as commendable and expressed shareholders’ confidence in continued profits and dividends.

Another shareholder, Mr Patrick Ajudua, attributed the company’s sustained success to its adaptability and ability to weather economic headwinds, congratulating the firm on its 25th anniversary, remarking that Dangote Sugar has come of age and is poised for even greater achievements.

At the meeting, Mr Dangote, represented by Mrs Bennedikter Molokwu, said in 2025, efforts would be made to build a sustainable business, target the production of 1.5 million metric tonnes of refined sugar annually and at the same time generate over 75,000 employment opportunities, in the company’s value chain.

The chief executive of Dangote Sugar, 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.