BUSINESS
Dangote Cement to Buy Back 170m Shares from Shareholders
Dangote Cement Plc says it will repurchase 170 million ordinary shares from shareholders in the second tranche of its share buyback programme.
The shares are worth 1 percent of the company’s issued shares.
In a statement on Wednesday, Edward Imoedemhe, deputy company secretary of Dangote Cement, said the programme will run from January 19 to January 20 or when the entire shares have been repurchased.
A buyback occurs when the issuing company pays shareholders the market value per share and re-absorbs that portion of its ownership that was previously distributed among public and private investors.
On December 31 2020, the company had completed the first tranche of its share buyback programme, repurchasing shares worth N40.20 million at N243 per share, at a total value of N9.8 billion.
The statement said the company has a total value of N17.04 billion fully paid-up ordinary shares of 50 kobo each.
The cement maker added it would be repurchasing 170 million ordinary shares of 50 kobo each, representing 1% of the company’s issued shares.
According to the company, this includes 40.2 million shares held as treasury shares, following the conclusion of Tranche I of the share buyback programme.
It said the transaction would take place at the open market on the Nigerian Exchange Limited (NGX), subject to prevailing market conditions and under the current daily trading rules of the NGX.
It also appointed Meristem Stockbrokers Limited and Vetiva Securities Limited as stockbrokers for the second tranche of the programme.
“Through its appointed Stockbrokers, the Company will, at its discretion, purchase DCP’s shares in the open market over the duration of Tranche II, subject to prevailing market conditions and under the current daily trading rules of the NGX,” the statement reads.
“DCP would, however, not be under any obligation whatsoever to purchase any or all of the DCP shares put on offer over the duration of Tranche II.
“The shares being repurchased by the company under the Share Buy-Back Programme will be held as treasury shares and may subsequently be cancelled. Execution of this Tranche II is not expected to have any material impact on the company’s financial position.
“Dangote Cement shareholders seeking to participate in Tranche II of the Share Buyback Programme are hereby advised to contact their stockbrokers or any other independent professional adviser registered as a capital market operator by the SEC for further guidance on the submission of trades on the NGX’s trading platform.
“DCP will provide weekly updates on the progress of Tranche II of the Programme on its website over the duration of this tranche.
“The Company will continue to monitor the evolving business environment and market conditions in making decisions on further tranches of the Share Buy-Back Programme.
“Shareholders and investors are advised to exercise caution when dealing in the securities of Dangote Cement until the completion of Tranche II of the Share BuyBack Programme. An announcement will be published upon completion of Tranche II of the Programme.”
BUSINESS
NNPC Posts N7.2trn Profit amid Revenue Decline
The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) recorded N7.2 trillion Profit After Tax (PAT) in 2025, a 33 per cent increase from N5.4 trillion.
Group Chief Executive Officer, Bayo Ojulari, disclosed this on Tuesday in Abuja at a media briefing after the company’s AGM and second Earnings Call.
Revenue declined to N34.
5 trillion from N45.1 trillion in 2024.Ojulari attributed the 24 per cent revenue decline to lower crude oil prices and reduced product volumes following market deregulation.
He said earnings per share rose to N35.
90 from N27.07, while return on equity improved by 200 basis points to 16 per cent.The company’s declared dividend increased by 35 per cent to N5.8 trillion, while taxes, royalties and other government remittances rose 39 per cent to N22.3 trillion.
“Stronger earnings in spite of this pressure demonstrate the resilience of NNPC Limited’s operations,” Ojulari said.
He said profit grew because NNPC had improved its operations and maintained discipline across its businesses.
Ojulari said crude oil and condensate production reached a five-year peak of 1.77 million barrels per day.
He added that gas supply reached a three-year high of 7.2 billion standard cubic feet per day.
“Stronger performance gives NNPC Limited more capacity to invest, contribute to public revenue and strengthen Nigeria’s energy security,” he said.
On infrastructure, Ojulari said the mainline of the Ajaokuta-Kaduna-Kano gas pipeline had been completed.
He said work was ongoing on tie-ins to delivery points, beginning with Abuja, followed by Ajaokuta and Kaduna.
According to him, the next milestone is to commence gas flow through the pipeline to industries and power plants.
Ojulari said the company completed the Obiafu-Obrikom-Oben (OB3) gas pipeline in 2026 after several years of challenges.
On the refineries, he said prospective partners under NNPC’s technical equity partnership model had conducted a three-month onsite review.
He said more than 34 engineers participated in the review, adding that NNPC was now concluding the report.
Ojulari said the company was targeting self-sustaining and profitable refineries, with a pathway expected to be defined soon.
He reaffirmed NNPC’s target of producing two million barrels of crude oil daily by 2027 and three million barrels by 2030.
He said gas production targets were 10 billion cubic feet per day by 2027 and 12 billion by 2030.
“NNPC plans to mobilise over 60 billion dollars of investment across the energy value chain,” he added.
Ojulari said more than 1,000 newly recruited professionals joined NNPC in 2025 under its Talent to Value programme.
He said the recruits completed a one-year internship and training programme before being deployed across the company. (NAN)
BUSINESS
FCCPC Calls for Improved Capacity Building on Competition Reporting, Matters
The Federal Competition and Consumer Protection Commission (FCCPC) says there is a need for sustained capacity building in competition reporting and issues.
The Executive Vice Chairman of FCCPC, Tunji Bello, said this in a statement made available to the News Agency of Nigeria (NAN) in Abuja on Sunday.
Bello described competition matters as a relatively new area in the country adding that it required specialised knowledge among journalists, regulators and other stakeholders.
He said that competition law and consumer protection regulations had made stakeholders’ education a priority for the commission.
Bello said that the FCCPC recently supported the training of judges through the National Judicial Institute (NJI) to deepen understanding of competition-related matters.
He noted that members of the judiciary also required exposure to the nuances of the emerging field.
“We recognised that because it is a new terrain, the judges themselves are not familiar with the nuances.
”So we brought in experts on competition,” he said.
Bello stressed that the media had a critical role in promoting public understanding of competition and consumer protection issues.
“If FCCPC is becoming more known to the public, it is as a result of the kind of publicity you have given us,” he said. (NAN)
BUSINESS
Fire Guts Customs Western Marine Command Office in Lagos
Fire gutted the Nigeria Customs Service (NCS) Western Marine Command office in Apapa, Lagos, on Monday, destroying property worth millions of Naira.
The fire, which reportedly started at about 10:23 a.m. from an electrical surge in the conference room, spread to other sections of the building.
Officers on duty made frantic efforts to contain the fire before officials of the Lagos State Fire and Rescue Service arrived at about 10:45 a.
m.The Deputy Comptroller of Customs, Timothy Jonah, who just resumed at the Command, to take over the affairs from his predecessor, described the incident as unfortunate.
He said: “I just resumed duty to take over, only to witness this fire outbreak.
“Every challenge, though negative, is an opportunity to strengthen our operations.
“In the meantime, we will set up a committee to investigate the cause of the fire.”
He commended the swift response of the personnel on duty and their collaboration with the fire service, saying measures would be taken to strengthen safety protocols and prevent a recurrence. (NAN)


