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Graduate Applicant Wins Saloon Car in Dangote Cement Promo

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The on-going Dangote Cement’s Bag of Goodies Promo, which promises to reward 21 million cement consumers nationwide has ramped up demands for the product in the South-Western part of the country just as another star prize winner emerged in Ibadan, Oyo state.

Attesting to the favourable response from the cement consumers since the Bag of Goodies was launched, some of the retailers and distributors of Dangote Cement who during the presentation of the saloon car to the winner, Godwin Chimezie Success in Ibadan said the advent of the promo has led to an upsurge in the demand for Dangote Cement.

Speaking one after another, the cement sellers said they were not surprised at the increased demands for Dangote cement because this is the first time a cement company would be coming out with a big promo meant to benefit over 20 million consumers.

“This is very unprecedented and this can only be done by Dangote Cement being the biggest of the cement companies. Imagining a cement promo with almost 50 cars, 550 refrigerators, 500 television sets, tricycles and motorcycles, who would not want have any of these at this time in Nigeria,” expressed Mr. Olanipekun Onifade Kamoru, Chairman of Onyx Global, a leading Dangote cement distributor based in Oyo town.

He stated that many cement consumers who have won prizes in the promo never believed it because they are not used to cement promo.

The Group Managing Director of Dangote Cement Plc, Engr Joseph Makoju who handed the car key to the winner, in company with Oyo State deputy governor, Engr. Raufu Olaniyan, said the promo is a unique way of appreciating the real consumers of Dangote cement all over the country.

“As you can see, no lucky dip, no raffle draw, it’s a straight win through scratch card. Every bag of Dangote cement has a card in it. What you get is what you win. No magomago. Cement sale is like a war, the distributors are the generals while the retailers are the foot soldiers.

“At Dangote Cement we work hard to produce quality cement at affordable price so that we remain the best. Every time, we try to grow loyalty by rewarding our stakeholders, the last time it was the retailer, this time around it’s the consumers.” 

Engr. Makoju stated that hat no fewer than eight million bags of cement of high quality are released to the market daily and that robotic technology made such production easy.

According to him, the company which is ranked among 10 top producers of cement in the world. He said: “On a daily basis, we dispatch about 40,000 tonnes of cement. Every ton is 20 bags. If you calculate, you will get eight million bags. So, we push out eight million bags of Dangote cement every day.

“Dangote Cement Plc is a single product company. The only product we make is cement. We pride ourselves to be the leading producer, not only in Nigeria today, but in Africa. Actually, we have gone global.

“Recently, the top 10 cement companies in the world formed an organisation called GCCA. I am very happy and proud to tell you that Dangote Cement was invited. We are one of the 10 top producers of cement in the world.

“Dangote has put Nigeria on the global map. The name Dangote itself is a brand and everything that comes from him is of international quality.”

In his comment, the Oyo State deputy Governor, who was represented by his principal Private Secretary, Laide Raji said there was no gay saying the fact that Dangote cement has revolutionized the cement industry and led the efforts to make the nation self- sufficient in cement production and consumption.

He said:”the nostalgia and excitement here shows there is a bond and connect between the company and its customers. And I make bold to say that oyo state also identifies with Dangote Cement. It is a global brand.”  

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NAICOM, RMAFC Collaborate on Economic Diversification 

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By Tony Obiechina, Abuja 

The Commissioner for Insurance and CEO, Mr. Olusegun Ayo Omosehin, and his management team have met with the members of the Constitutional Committee on “Mobilisation and Diversification” of the Revenue Mobilisation Allocation and Fiscal Commission ( RMAFC) led by Engr.

Sani Mohammed Baba, to explore ways of diversifying the Nigerian economy.
 

During their working visit to NAICOM Headquarters, Mr.

Olusegun Ayo Omosehin, in his opening remarks, reaffirmed the critical role of the insurance sector regulator in supervising, regulating, and safeguarding the interests of insurance policyholders. 

He highlighted insurance’s pivotal role in mobilising savings for long-term developmental projects and enabling businesses to thrive while managing risks effectively.

 

He also stressed the Commission’s commitment to ensuring insurance companies meet their obligations, thus contributing to the sustainability of the economy.

Speaking, Mohammed Baba emphasised the importance of revenue generation, institutional expansion, and employment creation for Nigerians through collaborative efforts.

The Commissioner for Insurance also acknowledged President Bola Ahmed Tinubu’s ambitious goal of growing the Nigerian economy to One Trillion United States Dollars ($1 trillion) by 2026. 

He expressed the insurance sector’s intent to significantly contribute to this objective. Additionally, he mentioned ongoing efforts to embed insurance within the National Credit Scheme to ensure its sustainability.

Omosehin stressed the need for continuous advocacy and sensitization of government institutions about the vital role of insurance in national economic development.

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CBN Unveils Strategy to Boost Remittances, Grants AIP To 14 New IMTOs

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By Tony Obiechina, Abuja 

The Central Bank of Nigeria (CBN) has activated plans to double foreign-currency remittance flows through formal channels by granting 14 new International Money Transfer Operators (IMTOs) Approval-in-Principle (AIP).

This was disclosed in Abuja on Wednesday, by the Bank’s Acting Director of Corporate Communications, Mrs.

Hakama Sidi Ali, who stated that the initiative will help increase the sustained supply of foreign exchange in the official market by promoting greater competition and innovation amongst IMTOs to lower the cost of remittance transactions and boost financial inclusion.
 

She said, “This will spur liquidity in Nigeria’s Autonomous Foreign Exchange Market (NAFEX), augmenting price discovery to enable a market-driven fair value for the naira.

“It will be recalled that the CBN Governor, Mr. Olayemi Cardoso, had recently declared: “We’ve set ourselves a target to double remittance flows into Nigeria within a year, a goal I firmly believe is within reach. 

“We are wasting no time driving progress to remove any bottlenecks hindering flows through formal channels permanently. We have a determined pathway and a sequenced approach to tackling all challenges ahead, working hand in hand with key stakeholders in the remittance industry,” she stated.

Continuing, Sidi Ali, said that the CBN viewed increasing formal remittance flows—one of the major sources of foreign exchange, accounting for over 6% of GDP—as a means of reducing the historical volatility in Nigeria’s exchange rate caused by external factors, such as fluctuations in foreign investment and oil export proceeds.

The increase in the number of IMTOs is one of the primary actions initiated by the CBN’s remittance task force, overseen by Governor Cardoso as a collaborative unit pulling together specialists to work closely with the private sector and market operators to facilitate the ease of doing business in the remittance ecosystem in Nigeria. 

The task force was established as a direct result of an executive learning session with IMTOs during the World Bank/IMF Spring Meetings held in Washington DC, United States of America, in April 2024. The task force will meet regularly to implement strategy and monitor the impact of its measures on remittance inflows.

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Tinubu Inaugurates Critical Gas Projects, Reassures Energy Sector Investors

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By Matthew Dadiya, Abuja

President Bola Tinubu has reassured investors in the energy sector of his administration’s resolve to further enhance the business environment and ensure investment convenience.

The President spoke Wednesday at the inauguration of three milestone projects, including the expanded AHL Gas Processing Plant; the ANOH Gas Processing Plant, and the 23.

3km ANOH – Obiafu-Obrikom-Oben (OB3) Custody Transfer Metering Station Gas Pipeline.

In a speech during the virtual inauguration of the projects at the State House, Tinubu also assured citizens that his administration is stepping up its coordination of other landmark projects and initiatives that will ensure the earliest realization of gas-fueled prosperity in the country.

 

The President, according to a statement by Special Adviser on Media and Publicity, Ajuri Ngelale, noted that the projects were fully in line with the Decade of Gas Initiative and his administration’s vision to grow value from the nation’s abundant gas assets, while concurrently eliminating gas flaring and accelerating industrialization. 

“This event is highly significant to our country as it demonstrates the administration’s concerted efforts to accelerate the development of critical gas infrastructure geared at significantly enhancing the supply of energy to boost industrial growth and create employment opportunities.

“It is pleasing that when these projects become fully operational, approximately 500MMscf of gas in aggregate will be supplied to the domestic market from these two gas processing plants, which represents over 25% incremental growth in gas supply. 

“In practical terms, this is more gas to the power sector, gas-based industries, and other critical segments of the economy. I, therefore, commend the strategic vision of the NNPC Limited and its partners, Sterling Oil Exploration & Energy Production Company Limited (SEEPCO) and Seplat Energy Plc, for this laudable and value-adding projects,” President Tinubu said.

The President said his government remains determined in its bid to leverage the nation’s vast gas capacity to drive economic growth. 

“Aside from the presidential CNG initiative which is aimed at moving the good people of Nigeria away from petrol and diesel as vehicular combustion fuel, significant progress has also been recorded in incentivizing gas development through Presidential Directives.

“The theme of this inauguration – ‘From Gas to Prosperity; Renewed Hope’, must be adopted by all gas-sector participants and would-be investors as a clarion call to ramp up efforts to accelerate investment and developments of projects in the gas sector on a win-win basis.

“I would once again commend the efforts of NNPC Ltd, alongside SEEPCO and Seplat Energy, on this business partnership initiative, and congratulate you all on the successful implementation of the three projects,” the President said.

President Tinubu also reiterated his government’s resolve to continue to provide support in deepening domestic gas utilization, increase national power generation capacity, revitalize industries, and create multiple job opportunities for economic growth.

“Today, I have the singular honour to inaugurate the expansion of the AHL Gas Processing Plant, the ANOH Gas Processing Plant, and the 23.3Km ANOH to Obiafu-Obrikom-Oben (OB3) Custody Transfer Metering Station Gas Pipeline Projects in line with my administration’s resolve to provide energy for Nigerians, and to use our vast natural gas resources to transform Nigeria,” the President stated.

May 15, 2024

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