By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Dangote Sugar posts N36.27 billion profit in nine month
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Business

Dangote Sugar posts N36.27 billion profit in nine month

Yusuf Abubakar
By Yusuf Abubakar
Published: October 31, 2022
Share
4 Min Read
Dangote Sugar
Dangote Sugar
SHARE

Nigeria’s largest sugar refinery, Dangote Sugar Refinery Plc has announced a profit before tax (PBT) of N36.27 billion for the nine months ended September 30, 2022.

According to the sugar refiner’s unaudited results posted on the Nigerian Exchange portal, PBT rose by N13.17 billion compared to N23.10 billion posted in the corresponding period in 2022.  

Profit after tax (PAT) rose from N15.51 billion to N24.83 billion while revenue went up from N195.50 billion to N288.32 billion. 

Group managing director, Dangote Sugar Refinery Plc, Ravindra Singhvi in his remarks attributed the positive results in the nine months to key trade interventions introduced during the year and   positive market responses. He said, “Our impressive performance in the period demonstrates our resilience in the face ofprevalent challenges, which rightly reflected in strong topline growth shown in thefinancial results.” 

- Advertisement -

It should be recalled that Dangote Sugar Refinery recorded a profit before tax (PBT) of N29.73 billion for the half year ended June 30, 2022 while profit after tax (PAT) hit N20.24 billion in that period.  

Meanwhile, Dangote Sugar Refinery has continued to implement its sugar backward integration projects plans and the enhancement of its Outgrowers Scheme to support the economic growth of the immediate communities. The aim is to develop a robust outgrower scheme with about 5,000 outgrowers when the projects have fully taken off, in addition to the achievement of other targets of its Sugar for Nigeria Project plan.  

The key focus is of the sugar refiner is achievement of the Dangote Sugar Backward Integration Projects targets and put Nigeria on the path of sugar self-sufficiency and the world sugar map. 

Employee Health & Safety as well as that of its partners remains a top priority at the company’s operations at the Apapa Refinery, its Sugar Backward Integration Operations in Numan, Adamawa State and Tunga, Nasarawa State. All processes are in compliance with stipulated health and safety protocols.  

- Advertisement -

Dangote Sugar Refinery is Nigeria’s largest producer of household and commercial sugar with 1.44M MT refining capacity at the same location, refines raw sugar imported from Brazil to white, Vitamin A fortified refined granulated white sugar suitable for household and industrial uses. 

Its Backward Integration goal is to become a global force in sugar production, by producing 1.5M MT/PA of refined sugar from locally grown sugar cane for the domestic and export markets. 

To achieve this, Dangote Sugar Refinery Plc acquired DSR Numan Operations (Savannah Sugar Company Limited), located in Numan, Adamawa State in December 2012, and embarked on the ongoing rehabilitation of its facilities and expansion of its 32,000 hectares’ sugarcane estate.  In September 2020, the scheme of merger between DSR and Savannah Sugar Company Limited was completed which gave birth to a bigger and stronger business with considerable opportunity for growth and delivery of superior benefits to all stakeholders. The expansion of the Numan sugar estate is still ongoing as well as the development of the greenfield site acquired at Tunga, Nasarawa State for the achievement of DSR’s sugar for Nigeria development master plan.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Dangote Sugar
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByYusuf Abubakar
Follow:
Yusuf Abubakar, Born in the mid-’90s, a recipient of various meritorious awards, a passionate entrepreneur, an advocate of good governance, a toast master and a patriotic Nigerian.
Previous Article Former Emir of Kano, Muhammadu Sanusi Ajami: CBN won’t remove Arabic inscription from redesigned Naira notes – Sanusi
Next Article Davido’s son, Ifeanyi dies days after celebrating third birthday

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Dangote Refinery Unveils N720bn CNG Truck Fleet to Slash Fuel Costs, Save Nigeria Over N1.7trn Annually
Energy & Oil
Nigerian Troops Neutralize Terror Kingpin Mai Dada, Recover Arms in Multi-Region Operations
Security
NNPP Welcomes Possibility of Rabiu Kwankwaso Joining APC Amidst Ganduje’s Resignation
News
Tinubu’s State Visit to Saint Lucia Marks Historic Diplomatic and Cultural Engagement, Presidency Clarifies
International News
President Bola Tinubu Suspends Implementation of Financial Reporting Council Amendment Act 2023
News
- Advertisement -
Ad imageAd image

You May Also Like

News

Aminu Dantata to be Buried in Madinah After Saudi Approval

Muhammad A. Aliyu
Muhammad A. Aliyu
June 29, 2025
CrimeVideo

VIDEO: NDLEA Issues Strong Advisory to Travellers Against Carrying Unknown Bags

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
News

SERAP Demands Transparency from Nigeria’s Governors on Security Vote Spending

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?