As a means of supporting livelihood to host communities impacted by the 54km gas pipeline to the Fertiliser plant, Dangote Fertiliser limited (DFL) embarked on a programme to empower 150 Project Affected Persons(PAPs) through a cassava enterprises programme.
The programme was geared towards mitigating the negative impact of the land acquired for the pipeline construction, whilst also supporting impacted farmers to improve farming practices in other to increase yield and income.
The programme, which is being implemented by external consultants, HarvestPlus in conjunction with the DFL Social team, involves capacity building for farmers and potential entrepreneurs for by- products of cassava and cassava stems cells.
Consequently, agro enterprise was set up for the beneficiaries where improved cassava stem bundles were delivered to farmers for planting and weed control task force were set up as well as the establishment of cassava combobite chips processors.
The company’s host communities comprises of five Local Government and Local Council Development Areas (LCDA), which includes, Ibeju Lekki, Lekki LCDA, Epe, Eredo and Ikosi.
It would be recalled that in 2019, Dangote started the installation of 54km gas pipeline along Epe axis, to transport gas to its fertiliser plant.
The pipeline Right of Way(RoW) impacted some communities, along with farmers whose farmlands and crops were affected. Lagos State Government in collaboration with DFL undertook the land acquisition process after which compensation was paid. To further support impacted farmers, DFL decided to embark on the Farmer Livelihood Support Programme.
Speaking at a ceremony where cassava stems, combobite processing equipment and weed control equipment were donated to the beneficiaries, General Manager, Human Asset Management, Dangote Fertiliser Limited, Akin Oladiran, stated that the company in partnership with Harvest Plus is working towards enhancing food availability across the communities.
“Food is very important for survival. We understand some persons have been impacted as a result of the installation of the pipeline, but we want to ensure these impacts are addressed quickly.
“We want to eliminate the impact completely. We are also using this programme to further support the means of livelihood of Project Affected Persons.
“We are ensuring food sufficiency as well as creating wealth for every individual in the community.”
Speaking further, he noted that the company is currently working on increasing the yields of farmers through the utilisation of fertiliser.
In his words: “If the soil yield is 80 percent, we are assuring you that before the next one month, we are going to bring a product that will increase the soil yield to 100 percent.
“The factory is at an advanced stage and we going into the production stage of our fertilizer.”
The Chairman of Eredo LCDA, Adeniyi Rasaq, stated that, “35 percent of the working population in Nigeria are farmers which means that almost half of Nigerian population are farmers. “Of the 33 percent of the landmass, about 55 percent of the area are yet to be cultivated. This means there is vast potential for grooming a lot of farmers and creating an image of a farming division.
“We want to be known for agriculture and tourism, and what Dangote is doing is not just CSR, is also helping the division to discover its potential in farming and also helping us harness what we have which is land. We are the last to develop in Lagos. Dangote group is God sent.
“We want Dangote to lead change in this division. There are a lot of organisations apart from Dangote group, the question is what are they doing?
“If the factories and institutions situated in Epe are learning from what Dangote is doing, maybe our story will be different.
“Beyond giving these farmers expertise and competence and helping them understand revolutionary ways of farming, we also want Dangote to invest in infrastructure across this division,” Rasaq added.
Group Social Manager, Group Health, Safety, Social and Environment (HSSE), Dangote Industries Limited, Adenike Olaoye said that the programme is already yielding results as some local entrepreneurs have already sprung up. She also mentioned that the organisation is exploring the option of working with other investors in the Free Trade Zone in order to develop a robust integrated community development plan. ‘We believe in developing the capabilities of local institutions within our host communities in order to enable them drive their own development. We do not give our host communities fish, we teach them how to fish thereby ensuring sustainable development”. She further added that the organisation already has a 5 year community development plan and implementation of that plan started 2 years ago In Lekki. She ended her speech by imploring communities to be patient as development takes time.
The last four weeks has been that of uplift in fortune for holders of Jumia stock, and the development is rightfully drawing attention of stock-inclined minds:
Fruitful yuletide: The stock sold as high as $47 a day to Christmas and has hovered between $34 and $39 since December 11th 2020. On January 12th 2021, Jumia stock sold at $40 on the floor of New York Stock Exchange.
Unexpected positive turn in fortune: Jumia recorded a 12% drop in revenue in the first three quarters of 2020, but has made a 600% increase in stock price since then. The best part is that the stock has sustained its good momentum for over a month.
Regret for doubters: Some investors who didn’t buy Jumia stock when it sold for just over $2 in March 2020 are beating up themselves for not taking advantage. Currently trading for just over $40, some holders see an opportunity to sell. But the next few months can also bring huge fortune for those who dare to hold.
Bright prospect: Analysts ascribed the improvement to investors’ belief in Jumia’s potential and are willing to overlook lagging business results for the time being. For instance, a $5,000 investment in Amazon in 1997 will translate to more than $4 million today. The current good performance of Jumia stock is an indication that the brand holds the potential of being a replica of the Amazon story in Africa.
Opportunity for Africans: Jumia prides itself as Amazon of Africa. It could end up being a smart move for Africans who buy into the dream by owning part of a brand that identifies with them.
As authorities put measures in place to prevent rapid spread of covid-19 in the light of the second wave of the pandemic emanating from mutation variants of the dreaded virus, Jumia Nigeria CEO, Massiliano Spalazzi has highlighted the services of ecommerce platforms as one of the measures to help mitigate the spread among Nigerians.
While speaking on the crucial role and contributions of ecommerce in the present day socio-economic reality in Nigeria, Spalazzi said online shopping will help promote the adoption of social distancing measures and eliminate the contact risk associated with brick and mortar stores, as people can purchase different products of their choice and get them delivered from the safety of their home.
“Online shopping remains one of the ways individuals can take precautions to limit the spread of Covid-19. People are being urged to avoid large gatherings, and limit human contact as much as possible. Ecommerce platforms possess all these features that will help customers keep to the safety culture. From the comfort of their safety, customers can shop on the Jumia platforms, make payment through online payment solutions like JumiaPay and get them delivered via Jumia Express, or our contactless agents,” he said.
He pointed out the crucial role played by ecommerce platforms during the 2020 Covid-19 lockdown. “What we have seen last year has been how relevant and important e-commerce was in serving the population during these tough times. We’ve seen many different situations happen from the Covid-19, which obliged people to be locked down and having to purchase their goods in a safe way.”
During the first wave of the pandemic, ecommerce platforms served as a veritable channel for brands and businesses to connect with their customers. Global brands such as Coca-Cola, Procter & Gamble, Reckitt Benkiser, Nestle, Unilever and other essential goods manufacturers partnered with Jumia for sales of their products.
Likewise, online retail platforms were key for the survival of food and grocery enterprises when sit-in services were prohibited with customers restricted by social distancing rule. It was a period where more customers boarded the ecommerce food service train and several local restaurants partnered with Jumia to keep their food, beverage and grocery service going during the lockdown.
Dangote Cement has announced the completion of the first tranche of its share buy-back programme.
Dangote Cement Plc has announced the completion of the first tranche
of its share buy-back programme, as the cement behemoth bought back shares of the company worth N9.77 billion.
This announcement was made by the management of the company, in a recent statement issued and signed by the Deputy Company Secretary, Mr Edward Imoedemhe, today, 11 January 2021.
During the first tranche of the share buyback programme which commenced on Wednesday, 30 December 2020 and ended on Thursday, 31 December 2020, the company on the open market of the Nigerian Stock Exchange purchased 40,200,000 ordinary shares of the company at an average price of N243.02, representing 0.24% of the Company’s issued and fully paid ordinary shares.
What you should know
Following the conclusion of Tranche I, the total number of residual issued and fully paid outstanding shares of DCP amounts to 17,000,307,404.
However, the completion of the share buyback programme of the company does not portend any material impact on the Company’s financial position, and the operation of the company as a going concern.