Local Content: Dangote Cement, Ibese Plant Enhances Skills of Local Business Operators

Published

2 years ago

October 29, 2024

thecloudngr

Local Content: Dangote Cement, Ibese Plant Enhances Skills of Local Business Operators—-The management of Dangote Cement’s Ibese Plant has reaffirmed its commitment to advancing its local content policy, aiming to stimulate the economies of its 17 host communities through skills development and increased business opportunities for local enterprises.

During a one-day capacity development workshop for local vendors, themed “Leveraging DCPI’s Processes and Procedures to Build Viable Local Businesses,” Acting Ibese Plant Director Mr. Johnson Michael expressed this commitment.

Since the plant’s establishment over a decade ago, Michael noted that the company has significantly impacted not only the host communities but also the wider Ogun State. He emphasised that Dangote Cement would continue to prioritise local autonomous businesses to enhance economic resilience within the state.

The workshop, held at the plant premises in Ibese, attracted numerous local service providers and suppliers from neighbouring communities. Michael explained that the event aimed to broaden vendors’ perspectives and deepen their understanding, thereby unlocking greater business opportunities, improving operational efficiency, and strengthening safety and security practices.

He noted that this initiative, the first of its kind at the Ibese Plant, is part of Dangote Cement Plc’s local content development strategy and reflects a strategic partnership with host communities to promote sustainable development and prosperity. The workshop was designed to equip participating vendors with the tools and insights necessary to thrive within and beyond the company’s ecosystem.

On behalf of the vendors, Deacon Segun Omoniyi from Abadom Commercial Enterprises expressed gratitude for Dangote Cement’s investment in upskilling and fostering the growth of local businesses. He assured that the knowledge gained would enhance service delivery and operational excellence at the plant.

The initiative saw effective collaboration among various departments, including Human Asset Management & Administration, Occupational Health, Safety and Environment, Procurement, Security Services, Stores, Finance & Accounts, and Social Performance.

Recently, the Ibese Plant also donated agricultural supplies to local farmers as part of a broader empowerment programme aimed at ensuring food security for the community. During the presentation, over 60 farmers from the 17 host communities received fertilizers, herbicides, and knapsack sprayers to assist them in the upcoming farming season. They also received training on “Integrated Pest Management and Crop Protection,” covering the application of the donated inputs as well as general pest management techniques.

The plant management noted that these donations are part of Dangote Cement’s Social Investment drive, which focuses on four key areas: Education, Health, Empowerment, and Infrastructure. They emphasised that the company’s community investments and their positive impacts on residents demonstrate Dangote Cement’s dedication to adding social value to its host communities.

According to the company, the initiative aims to enhance the productivity of participating farmers, strengthen food security, and boost revenue across the agricultural value chain in the host communities. “We hope that this intervention will positively impact the production of garri, fufu, and kokoro, which are staple foods in the area,” they added.

thecloudngr

0Shares

Up Next

Ekiti lawyers drag Nwite to NJC over alleged controversial rulings, judicial rascality

Don't Miss

Ministerial Nominees To Be Screened By Senate

Click to comment

Business

UBA, GTCO Lose ₦2.13 billion To Fraudsters Despite Heavy Cybersecurity Investments

Published

2 weeks ago

May 12, 2026

thecloudngr

UBA, GTCO Lose ₦2.13 billion To Fraudsters Despite Heavy Cybersecurity Investments—-Three of Nigeria’s largest financial institutions have reported combined fraud-related losses of approximately ₦2.13 billion in their latest audited financial statements, highlighting the growing threat of cybercrime and electronic banking fraud in the country’s financial sector.

The affected institutions include Access Holdings Plc, Guaranty Trust Holding Company Plc, and United Bank for Africa Plc.

According to details contained in the banks’ 2025 financial reports, fraud incidents linked to the three lenders totalled approximately ₦10.29 billion. However, through recoveries, transaction reversals, and security interventions, the banks were able to prevent or recover about ₦8.16 billion, leaving actual losses at approximately ₦2.13 billion.

Among the banks, Access Holdings recorded the highest direct loss to fraudsters, losing an estimated ₦1.24 billion within the financial year.

United Bank for Africa reported over 26,400 fraud-related incidents, with actual losses totalling approximately ₦621.57 million, while Guaranty Trust Holding Company recorded approximately ₦269.44 million in losses tied to fraudulent activities.

Industry analysts say the figures reflect the increasing sophistication of cybercriminals targeting Nigeria’s rapidly expanding digital banking ecosystem.

Most of the fraud cases were reportedly connected to electronic banking channels, including unauthorised transfers, mobile banking compromise, phishing schemes, identity theft, and other forms of digital payment fraud.

The development comes as Nigerian banks continue to accelerate the country’s transition toward a cashless economy through mobile banking platforms, internet banking services, agency banking networks, and digital payment systems.

Despite the losses, the financial institutions significantly increased investments in technology infrastructure and cybersecurity measures during the year under review.

Collectively, the banks reportedly spent over ₦280 billion on technology upgrades, fraud monitoring systems, customer authentication processes, and transaction security enhancements aimed at reducing cyber threats and protecting customer funds.

Meanwhile, the Central Bank of Nigeria has also intensified regulatory efforts to curb financial fraud across the banking industry.

The apex bank recently introduced stricter compliance measures requiring financial institutions to strengthen fraud detection systems, improve transaction monitoring, and respond more rapidly to suspicious activities and customer complaints.

Financial experts have warned that as digital banking adoption continues to rise across Nigeria, banks and customers alike must remain vigilant against increasingly advanced cybercrime tactics targeting the financial sector

thecloudngr

0Shares

Breaking

BREAKING: Dangote Refinery Hikes Petrol And Diesel Prices Amid Economic Strain

Published

3 months ago

March 9, 2026

thecloudngr

BREAKING: Dangote Refinery Hikes Petrol And Diesel Prices Amid Economic Strain—-Dangote Petroleum Refinery has revised its ex-depot prices, increasing the gantry price of Premium Motor Spirit (PMS), or petrol, to ₦1,175 per litre, while Automotive Gas Oil (AGO), commonly known as diesel, has been raised to ₦1,620 per litre.

The latest revision marks the fourth consecutive price review in less than two weeks amid global market volatility, according to a report by Petroleumprice.ng.

Quoting industry sources, the report noted that the new pricing template has been communicated to marketers, following earlier adjustments this month.

Under the revised structure, the ₦1,175 per litre petrol price reflects a significant jump from the previous ₦995 per litre, while diesel has surged sharply from its prior ₦1,430 per litre level, underlining the continued upward trend in domestic fuel pricing.

The development is likely to have a ripple effect across Nigeria’s downstream petroleum market, as depot operators and fuel marketers adjust supply costs in response to the revised prices announced by the country’s largest refining facility.

The refinery had yet to issue an official statement on the development as of the time of filing this report.

Oil prices soared 30 per cent today on fears about supplies from the Middle East, as the US-Israeli war against Iran continued into a second week with no sign of letting up.

Fears grew that the Middle East conflict could last for some time after US President Donald Trump said only the “unconditional surrender” of Iran would end the war.

He added at the weekend that the spike in prices was a “small price to pay” to eliminate Iran’s nuclear threat, reiterating the White House’s insistence that the rise is temporary.

Since the beginning of the war, WTI is up more than 75 per cent and Brent more than 60 per cent.

Attacks on oilfields were reported in southern Iraq and in the northern autonomous Kurdistan region, which forced a US-run oilfield to cease production, while the United Arab Emirates and Kuwait have started reducing output.

That came with maritime traffic in the Strait of Hormuz — through which a fifth of global crude and gas passes — halted since the war began on February 28.

thecloudngr