Page 2 - Edwin Devakumar News Today

Abuja, June 10, 2021 The Dangote Group says its 650,000BPD refinery project under construction in Ibeju Lekki, Lagos will be completed by end of December. Mr Edwin Devakumar, the company’s Group Executive Director, Strategy, Capital Projects and Portfolio Development, said this on Wednesday in Abuja. Devakumar while

3 Western, Middle Eastern oil firms seek to buy stakes in Dangote refinery Energy

Dangote Cement to resume purchase of own shares Dangote Cement hopes the move will help create a lower supply of its common stock, needed to drive up share price and improve valuation. ADVERTISEMENT Dangote Cement Plc will now advance to the second phase of buying up to 10 per cent of its outstanding shares back from the public, hoping the move will help create a lower supply of its common stock, needed to drive up share price and improve valuation. Nigeria’s largest company by market value h...

Nigerias cement price problem 07 May 2021 This week we take a look at the price of Nigerian cement, which has soared in recent weeks, and possible solutions on the horizon. Retail cement prices in the country reportedly rose from around NGN2400-2600/50kg bag (US$6.3-6.83) to NGN3500 at the end of April. Further rises have been reported: Kunle Adeyemi, CEO of Sterling Homes, stated on 4 May that prices had risen once more to NGN3800 over the course of one day. The price increase...

Africa’s biggest cement manufacturer Dangote Cement Plc Friday said its after-tax profit from January through March rose by almost half to N89.7 billion, compared to the same period of last year. Sales surged by more than one-third from N249.182 billion to N332.7 billion, with Nigeria – its home market – delivering N239.7 billion of that sum while the rest of its operations across Africa contributed N93 billion or 28 per cent, the company’s unaudited earnings report for the ...

Dangote Cement Q1 profit climbs to N90 billion on booming sales Sales surged by more than one-third from N249.182 billion to N332.7 billion. ADVERTISEMENT Dangote Cement Plc Friday said its after-tax profit from January through March rose by almost half to N89.7 billion, compared to the same period of last year. Sales surged by more than one-third from N249.182 billion to  N332.7 billion, with Nigeria – its home market – delivering N239.7 billion of that sum while the rest of its operatio...

Festus Akanbi In a response to the growing demand, Dangote Cement Plc is poised to raise capacity by more than a third to meet the escalating demand as the Nigerian economy recovers. “We are expanding capacity from about 50,000 tons a day at the beginning of the year to 70,000 tons a day at the end of the year,” Edwin Devakumar, Group Executive Director at Dangote Industries Ltd., told Bloomberg by phone yesterday. Devakumar explained that already, the company in the past seven months had b...