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Otedola Displays Trust in Dangote Cement, Acquires ‘Significant’ Shares



Billionaire business man, who is also a distinguished entrepreneur and investor, Femi Otedola, has announced a significant acquisition of shares in Dangote Cement, the only cement company in Nigeria with two export terminals, with a combined export capacity of eight million tons per annum.

This strategic investment underscores Mr Otedola’s confidence in Dangote Cement’s potential to generate foreign exchange for the country and his dedication to supporting businesses that contribute to Nigeria’s economic resilience.

Though the businessman did not however, disclose the volume of shares he acquired, Premium Times had exclusively reported that he bought N6 billion worth of stocks in the company.

As Sub-Saharan Africa’s largest cement producer, Dangote Cement boasts an annual production capacity of 51.6 million tons across ten countries. This extensive footprint not only highlights the company’s dominance in the cement industry but also its crucial role in driving economic growth across the region.

Dangote Cement’s export capabilities and extensive operations across Sub-Saharan Africa are essential for regional economic integration and growth,” Mr Otedola said. “My investment is a testament to my confidence in its potential to propel Nigeria’s and Africa’s industrial and economic development.”

Mr Otedola’s investment aligns with his vision of long-term wealth preservation and the belief that shareholders should be the primary beneficiaries of a company’s success.

“Dangote Cement’s unique position with two export terminals offers a substantial opportunity to earn foreign exchange, crucial for Nigeria’s economy. This, along with the company’s pan-African presence, makes it an ideal investment choice,” the businessman said.

“Dangote Cement’s track record of dividend payments, exceeding N2.1 trillion in recent years, and its commitment to sustainable business practices resonate with these principles. Mr Otedola’s investment strategy prioritises companies that are well-managed, have strong governance, and operate under the principle that no individual should be larger than the company.

“In my investment decisions, I focus on long-term wealth preservation and ensuring shareholders are the ultimate beneficiaries of a company’s success,” Mr Otedola said.

“Companies like Dangote Cement, which consistently deliver value to their shareholders, are fundamental for sustainable economic growth. My investment reflects my belief in its capacity to continue providing significant returns and my commitment to businesses that prioritize their shareholders.”

The evolving regulatory landscape in Nigeria, emphasising Environmental, Social, and Governance (ESG) compliance, complements Mr Otedola’s investment criteria.

Premium Times

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Personality in Focus

Ibadin Urges Commitment, Proactive Engagement As Victoria Island PCRC Elects New Executive



Renowned security expert and public analyst, Mr. Matthew Ibadin, has charged newly elected executive members of the Police Community Relations Committee (PCRC), Victoria Island unit, to imbibe the spirit of commitment, proactive engagement and dedication in the service of the unit, Lagos State and Nigeria.

Ibadin was speaking while accepting his leadership role just as the new executives, which he leads, took the oath of office to propel the activities of the unit for another defined period.

In his speech, the newly elected Chairman, Mr. Matthew Ibadin, expressed his gratitude and outlined his vision for the future of the PCRC, emphasizing the importance of collaboration and proactive measures to address community security concerns.

He also charged the members of his team to continue to focus on the revival of the PCRC, emphasizing the need for renewed commitment and proactive engagement.

“We are poised to lead the PCRC with dedication and vision, aiming to strengthen the ties between the community and the police force, ensuring a safer and more cohesive environment for all,” Ibadin promised on behalf of the leadership.

The election, which was held in the first week of the month at the Best Western Hotel, Ahmadu Bello Way, Victoria Island, witnessed a vibrant turnout of members, well wishers and the general public, culminating in the churning out of progressive and vibrant set of eggheads committed to enhancing community-police relations and improving security measures.

In her remarks at the event, the Chairlady of PCRC Area A Command, took time to encourage the members with clear cut inspiration on how to go about the business of leading community policing in the aread.

After the elections, conducted by Mr. Jude Ndoh Esq., the following emerged as officers of the team

Treasurer: Imoh Gabriel
Deputy General Secretary: Ochonya Dan-Ugo
Vice Chairman: Ighomuaye Anthony
Chairman: Matthew Ibadin

The Deputy General Secretary, Ochonya Dan-Ugo, was on hand to give a vote of thanks before Mr. Abdulmalik Abdul said a closing prayer to signify the end of proceedings.

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Personality in Focus

Aare EmmanuelKing Hails Ogun First Lady, Bamidele Abiodun @58



The Chairman/CEO Adron Group, Aare Adetola EmmanuelKing, has extended warm felicitations to Her Excellency, Mrs. Bamidele Abiodun, the First Lady of Ogun State, on the occasion of her 58th birthday.

In his congratulatory message, Aare EmmanuelKing lauded Mrs. Abiodun’s unwavering dedication to the welfare of women and children in Ogun State, highlighting her numerous philanthropic activities and her pivotal role in community development.

He commended her compassionate efforts in advocating the rights and welfare of the less privileged, which have significantly impacted the lives of many.

“Your Excellency, your exemplary life and steadfast dedication to the betterment of Ogun State and its people have been a beacon of inspiration to many. Your leadership and passion have not only complemented the vision of His Excellency, Prince Dapo Abiodun, but have also played a crucial role in the continuous progress and transformation of Ogun State,” Aare EmmanuelKing stated.

He further praised Mrs. Abiodun for her support of initiatives aimed at enhancing health and education in the state, acknowledging her contributions to fostering a better and more inclusive society. Aare EmmanuelKing expressed his prayers for her continued good health, happiness, and the fulfillment of all her aspirations.

As Mrs. Abiodun marks this significant milestone, Aare EmmanuelKing joined her family, friends, and well-wishers in celebrating her remarkable achievements and contributions to Ogun State. He wished her a joyous birthday filled with peace, prosperity, and continued success.

Adron Homes and Properties Ltd., under the leadership of Aare Adetola EmmanuelKing, remains committed to supporting the growth and development of Ogun State and looks forward to continuing its collaboration with the government in achieving these goals.

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Tinubu Approves Appointment of Walson-Jack As New Head of Civil Service



President Bola Tinubu, on Wednesday, approved the appointment of Didi Esther Walson-Jack as Head of the Civil Service of the Federation.

Presidential spokesman Ajuri Ngelale said the appointment will take effect from August 14, 2024.

“Mrs. Walson-Jack was appointed Federal Permanent Secretary in 2017 and has served in several Ministries.

“The new appointee will take over from the incumbent Head of the Civil Service of the Federation, Dr Folasade Yemi-Esan, CFR, who is due to retire on August 13, 2024,” Ngelale said in a statement.

President Tinubu, who thanked the outgoing Head of Service for her stewardship, tasked the incoming Head of Service to discharge her duties with innovative flair, integrity, and stringent adherence to the extant rules and regulations of the Civil Service of the Federation.

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