N2P: 12% revenue increase for Dangote and the “dirty 50”

Notoriety is attained through exclusivity; such is the case for the exclusive MVP list for EndSARS supporters. Already there are whispers of frozen bank accounts and no-fly lists. And now, a law suit. In other news, two businesses, private and public, are defying covid-related downturns, scoring revenue increments. All these and more in today’s numbers to ponder.

$4.6 billion

Amid all the reported losses from the pandemic, a sigh of relief ensues in the name of NFEI. According to reports, activities in the external sector of the economy are picking up. Net Foreign Exchange Inflow (NFEI) into the economy rose by 18 percent to $4.56 billion in the first two months of the second half 2020. Earlier, trends owing to the adverse impact of Coronavirus (COVID-19) pandemic on the global economy set this major economic indicator on a decline. So this development is welcome news. 

₦761.4 billion

Speaking of adverse impacts from the pandemic, Dangote Cement Plc recorded none. Africa’s largest cement producer has announced a revenue of ₦761.4 billion for the nine months ended September 30, 2020.  Besides seeming untouched by the pandemic, the business further boasted a 12% increase as against the previous year’s revenue of ₦679.8 billion. Further breakdown shows a 14.5% increase in domestic operations accounting for ₦535.51 billion versus 2019’s ₦467.88 billion. Pan-Africa operations also contributed ₦232.61, indicating a 9.1% increase over ₦213.20 billion in 2019. Likewise, profit before tax rose by 37.6% to ₦271.96billion in 2020, from ₦197.68 billion; just as profit after tax grew by 35.2% from ₦154.35 billion to ₦208.69 billion.

₦195 billion

Elsewhere, the Debt Management Office (DMO) boasts of ₦195 billion disbursed to exporters. Yet, there will be a need for proactive disclosure of the 270 beneficiaries of this Export Expansion Grant (EEG) programme. This can save the DMO the stress from further criticisms such that led to disqualification of 38 companies flagged by stakeholders. 

Also, DMO acknowledges funds disbursed is lower than the ₦350 billion earlier approved by the Federal Executive Council (FEC) for disbursement to about 1,400 exporters. 

$15billion

Do you believe, $90 billion spread over 6 years at $15 billion annually can solve the infrastructure deficits of Nigeria? Your guess is as good as mine. However, Mr Adekunle Oyinloye, former Chief Executive Officer, Infrastructure Bank Plc, maintained that Nigeria needs $15bn annually over the next five to six years to finance its infrastructural deficit. He said this at 24th Annual Conference of the Chartered Institute of Stockbrokers, tagged ‘Infrastructure and deficit funding: Bridging the gap via the Nigerian capital market’

₦6.6 million

You don’t pay ₦6.6 million ransom for the release of 26 abducted girls from your community and still swallow the lies of a state government boasting it all happened, thanks to its “non-kinetic strategy”. Such was the kinetic comeback by Mr Lawal Dogara, the village head of community. He maintained that Katsina state paid ₦6.6 million to secure the release of the girls. But really, which government doesn’t hide its face in shame that its territory remains a den of kidnappers but rushes out to take credit for citizens’ interventions to rescue their own? 

50 MVPs 

While it’s a lawsuit, many Nigerians are eager to find their names on it. If that was your wish, then you must be among the 50 most valuable persons Mr Kenechukwu Okeke,  filed criminal injunctions against. And your crime, “promoting” the #EndSARS protests. At least you’d be in good company amongst celebrities like Kanu Nwankwo, Innocent Idibia (2face), and David Adeleke, (Davido). Not to mention the comely Pastor Sam Adeyemi, who made the list for his acclaimed pro-protest sermons that garnered national and international notoriety.