NewStats: 3,261,357 , 8,173,780 topics. Date: Wednesday, 28 May 2025 at 11:57 PM 9303z

Africa's largest cement producer, Dangote Cement Plc has remained a major contributor to the economy with a tax charge of N97 billion for the financial year ended 31st December 2020, even as it proposed a dividend of N16 per share.

According to the cement group's audited results released on the floor of the Nigerian Stock Exchange (NSE), the tax charge represents an increase of 95 per cent over the sum of N50 billion recorded in 2019.

Dangote Cement's Nigerian operations during the period sold 15.9Mt for the full year 2020, compared to 14.1Mt in 2019. This includes both cement and clinker sales, which implies a 12.9 per cent growth for the full year 2020. Looking at the domestic sales alone, Nigerian operations sold 15.6Mt, up by 14.3 per cent year on year and resulting in an increase in market share.

Revenues for the Nigerian operations increased by 18.0% to N720.0 billion, owing to demand in the domestic market. This volume growth was enhanced by a successful innovative national consumer promotion "Bag of Goodies - Season 2" and lower rains in the third quarter compared to the previous year.

The Nigerian business recorded strong Earnings before interest, taxes, depreciation and amortization (EBITDA) of N421.4 indicating a margin of 59%.

Dangote Cement posted a record high Pan-African EBITDA of N71.3 billion, which went up by 49.0%. Within the period under review, the cement group commissioned its gas power plant in Tanzania. Group earnings per share were up by 36.9% to N16.14.

Dangote Cement recorded strong performance not only at the top line but also at the bottom line, owing to cost-saving measures. Despite inflationary pressures and foreign exchange volatility, disciplined cost control measures enabled the company to maintain a relatively flat cash cost per tonne. The cost control measures include improved plant efficiency, better fuel mix and general overhead optimization.

Chief Executive Officer, Dangote Cement Plc, Michel Puchercos, in his comments on the results, said:

"2020 was a good year for Dangote Cement across the board. Several firsts made 2020 a productive year such as our maiden clinker shipment, maiden bond issuance and successful buyback programme. We increased our capacity by 3Mt in Nigeria, commissioned our two export terminals and commissioned our gas power plant in Tanzania. All these were achieved whilst we focused on protecting our people, customers and communities from the impact of the pandemic.

"Dangote Cement recorded strong top-line growth ed by strong cement demand. Profitability was further bolstered by our disciplined cost control measures in what we believed to have been a highly inflationary and volatile year. These measures resulted in a 37.7% increase in profit after tax to N276.1 billion.

"I am delighted to report that Dangote Cement experienced its strongest year in of EBITDA and strongest year in of volumes. Despite a challenging environment, Group volumes for the year were up 8.6% and Group EBITDA was up 20.9%.

"Looking ahead, we have strengthened our Alternative Fuel initiative which focuses on leveraging the circular economy business model and reducing exposure of our cost base to foreign currencies fluctuations. We continue to embed Dangote Cement's 7 sustainability pillars into every aspect of our operation and culture.

"We remain committed to keeping safe our staff and communities by being fully compliant with health and safety measures in all our territories of operation. We are focused on adapting to the rapidly evolving markets in which we operate."

Dangote Cement Plc is sub-Saharan Africa's largest cement producer with an installed capacity of 45.6Mta across 10 African countries and operates a fully integrated "quarry-to-customer" business with activities covering manufacturing, sales and distribution of cement.

Dangote Cement has a long-term credit rating of AA+ by GCR and Aa2.ng by Moody's due to its market-leading position, significant operational scale and strong financial profile evidenced by the company's robust operating and net profit margins relative to regional and global peers, adequate working capital, satisfactory cash flow and low leverage.

Dangote Cement is a subsidiary of Dangote Industries Limited, a diversified and fully integrated conglomerate as well as a leading brand across Africa in businesses such as cement, sugar, salt, beverages, and real estate, with new multi-billion dollar projects underway in the oil and gas, petrochemical, fertiliser and agricultural sectors.

https://brandnewsday.com/2021/03/23/dangote-cement-to-pay-over-n97bn-in-corporate-tax-for-financial-year-2020/

Economic Saboteur!

[img]https://media1./images/5b8f98be79a4d2c036dffc19820f8e0c/tenor.gif?itemid=20756518[/img]

Hahahahahaha its nothing, big reason to worry

The guy above me just booked space for nothing, you must be a witch from kuviki land

That is the result of the monopoly he is enjoying so he should pay gladly.

I can't imagine a country of 400,0000,000 (million) people allowing one man to enjoy this kind of monopoly, you can't find this anywhere in the world.

Pay naa , how much is the price of cement.
quote author=Cromartie post=100151326]
https://brandnewsday.com/2021/03/23/dangote-cement-to-pay-over-n97bn-in-corporate-tax-for-financial-year-2020/[/quote]

Who do we believe now?..

No wonder price of cement keep skyrocketing. Taxing the poor at the expense of the elites class.

No comment. The person below might have something to say

I have nothing to say

Be sure he will use wayo &
mago-mago to avoid paying the
complete amount.


The Dangote I know will pay 10%
of that sum after Buhari tells his sister,
Minister Of Finance to give him discount
as a Northerner.

That money is chicken change compared to what he earns annually

Good to hear this development.
God bless Dangote PLC.
God bless Alhaji Aliko Dangote.

I can't wait to see his refinery operating

A thousandth part of someone's tax is what that yahoo boy is flaunting and using to claim richness every minute on facebook.
Na wa.......

this man is one of the problem of nigeria .... though i dont blame him but i blame the system ....... the name called nigeria mean NIGGER ..... no wonder ..... my ODUDUWA pple are u with me ? please i need fadaka to buy bitcoin

Payment of tax

Check signature for men clothing clearance price

NwaNimo1:
Economic Saboteur!

easyfem:
this man is one of the problem of nigeria .... though i dont blame him but i blame the system ....... the name called nigeria mean NIGGER ..... no wonder ..... my ODUDUWA pple are u with me ? please i need fadaka to buy bitcoin

adecz:



Be sure he will use wayo &
mago-mago to avoid paying the
complete amount.


The Dangote I know will pay 10%
of that sum after Buhari tells his sister,
Minister Of Finance to give him discount
as a Northerner.

No one has grown hating!

Monopoly in the cement industry? Have u heard of BUA and Ashaka, Do u knkw that BUA spreading money everywhere isn't just for notice me? They Are making/earning serious profit in the cement industry. Go and check their figures.
Broda hustle make u start see and take opportunities, not come and complain here in niaraland

4tomandchi:
That is the result of the monopoly he is enjoying so he should pay gladly.

I can't imagine a country of 400,0000,000 (million) people allowing one man to enjoy this kind of monopoly, you can't find this anywhere in the world.

98 billion naira. This man represents everything that's against good economic models. He's the Rockefeller of Nigeria that the American government feared and broke down his monopolistic tendencies.
If Dangote was operating in Europe, Asia or America. He wouldn't dear do this nonsense he's doing in Nigeria over there. He would have been long arrested over there and his assets forfeited for economic malpractices

Ooe33:
Monopoly in the cement industry? Have u heard of BUA and Ashaka, Do u knkw that BUA spreading money everywhere isn't just for notice me? They Are making/earning serious profit in the cement industry. Go and check their figures.
Broda hustle make u start see and take opportunities, not come and complain here in niaraland.

Even BUA complained on the monopoly despite being a beneficiary.

4tomandchi:
That is the result of the monopoly he is enjoying so he should pay gladly.

I can't imagine a country of 400,0000,000 (million) people allowing one man to enjoy this kind of monopoly, you can't find this anywhere in the world.

Educate yourself!

Smh

Rub hands with politicians and your way will be smooth!

Peterobi90:


Even BUA complained on the monopoly despite being a beneficiary.

What monopoly are you talking about please!

Do you know the meaning of "Monopoly"? Please define if you do!

Bleep Cement

what monopoly are u guys blindly talking about? Any person who wants to enter cement manufacturing and is denied a fare share of the market shd consult me immediately

HacheNoire:


Educate yourself!

you need to correct yourself, I don't think u understand the meaning of monopoly, Dangote is running a monopoly business in Nigeria, which is dangerous for the economic survival of the people, I have not seen or read that any country of the world give monopoly to individuals to have exclusive rights in the supply of a particular product.

Onepeople:
you need to correct yourself, I don't think u understand the meaning of monopoly, Dangote is running a monopoly business in Nigeria, which is dangerous for the economic survival of the people, I have not seen or read that any country of the world give monopoly to individuals to have exclusive rights in the supply of a particular product.

Define Monopoly?

Which exclusive right does Dangote have?