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Dangote says Nigeria has lost 250,000 jobs to sugar smuggling,

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Aliko Dangote, president of Dangote Group, says Nigeria is currently losing at least 300,000 tonnes of sugar to smuggling annually.

He also said the smuggling activities in the sugar industry has hindered the employment of at least 250,000 Nigerians, adding that it has also led to economic sabotage.

According to NAN, he made this known during the Dangote Sugar Annual General Meeting (AGM) in Lagos on Tuesday.

He noted that negative activities made 2018 a challenging year for the company while identifying the influx of smuggled sugar into key markets nationwide as one of such activities.

According to him, the Apapa gridlock also affected the evacuation of products from the refinery and constrained logistics operations, distribution, and delivery to customers.

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He said that the performance of Savannah Sugar Company, a subsidiary of Dangote group,  was impacted by communal clashes between the host community and herdsmen which led to the closure of the company for more than three months.

He, however, said despite the challenges, the company continued to post resilient performance.

He disclosed that the company achieved a group turnover of N150.4 billion, a 26 percent decrease over N204.4 billion posted in 2017.

According to him, the company made a profit before tax of N34.6 billion, and a profit after tax of N22 billion Naira.

Ravindra Singhvi, chief operating officer, Dangote Sugar Refinery, said that the future outlook for the company was to continue to leverage on its strength.

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He said that the company would maximize the opportunity to generate sales, increase market share and create sustainable value for all stakeholders.

Singhvi said that though the terrain remains challenging, the company was committed to rapidly adapting to market changes and employ numerous levers to mitigate major effects on performance in the years ahead.

Aliko Dangote is one of the business leaders in Nigeria.

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Electricity, telecom tariffs increase unconscionable, should be stopped – Shehu Sani

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Former lawmaker, Senator Shehu Sani, has described the planned increase in electricity and telecom tariffs as unconscionable.

The statement comes after the telecoms regulator last week approved the increase in mobile tariffs.

The federal government also recently said that plans were ongoing to increase electricity tariffs “over the next few months.”

However, Sani, who said the government’s plan is unreasonable, insisted that it should be halted.

The ex-lawmaker also expressed his support for the Nigeria Labour Congress (NLC) over the scheduled protest against the government’s proposal, calling it a welcome development.

“The planned increase in electricity tariffs in the midst of poor power supply and the proposal to increase telecom tariffs is unconscionable and should be halted. The scheduled labour union protest is a welcome development,” he posted on X.

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Trump to cut off funding to South Africa, gives reason

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Donald Trump

The United States President, Donald Trump, has revealed his decision to cut off all future funding to South Africa, citing poor treatment of “certain classes of people.”

Trump made this known on Sunday in a post on Truth Social, his social media platform.

According to Trump, South Africa was seizing land and mistreating some citizens without concern for the violations of their rights.

“South Africa is confiscating land and treating certain classes of people VERY BADLY.

“I will be cutting off all future funding to South Africa until a full investigation of this situation has been completed!” Trump wrote.

Reports suggest that the American leader may be defending White South Africans, some of whom have alleged that the South African policy is unfair to them.

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Telecoms tariff hike: Nigerian govt in last-minute move to avert NLC shutdown

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NLC

There are indications that the federal government will on Monday meet with the Nigeria Labour Congress, NLC, to stop the planned Tuesday nationwide protest against the 50 percent telecommunications tariff hike.

A reliable source familiar with the matter, who preferred anonymity, disclosed this on Monday morning, noting that the meeting between the NLC leadership and the federal government is scheduled for 5 p.m. on Monday.

The source said the meeting was a “dialogue on matters of national interest as it affects Nigerian workers.”

According to the source, it will be an inter-ministerial meeting with the Secretary to the Government of the Federation (SGF), purposely to resolve issues raised by the NLC concerning the federal government’s approved upward adjustment to telecommunications tariffs, which the NLC, its allies, and others are vehemently opposing.

This comes as the NLC is already mobilizing workers for a mass protest tomorrow (February 4) against the 50 percent tariff hike approval.

On Thursday last week, in a letter to affiliate unions and state councils, NLC General Secretary Emma Ugboaja urged them to mobilize other Nigerians to send a serious message to the government.

The planned protest follows the 50 percent telecom tariff approval by the Nigerian Communications Commission (NCC) on January 20, 2025.

The approval had sparked widespread rejection among telecom subscribers.

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