• About
  • Advertise
  • Contact
Friday, August 1, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Business

Proposed Merger Of Dangote Sugar Refinery, NASCON Allied Industries, Dangote Rice Will Benefit Stakeholders – Ravindra

Vital News by Vital News
August 20, 2023
in Business, Economy
0
Proposed Merger Of Dangote Sugar Refinery, NASCON Allied Industries, Dangote Rice Will Benefit Stakeholders – Ravindra
Share on FacebookShare on Twitter

 

 

 

By Kassim Kola Adeyemi

The Chief Executive Officer of Dangote Sugar Refinery Plc, Ravindra Singhvi has assured stakeholders that the proposed merger of Dangote Sugar Refinery, NASCON Allied Industries, and Dangote Rice to form Dangote Foods Plc is expected to yield many benefits.

RelatedStories

Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire

Dangote Says Tinubu’s Economic Policies Working, Reviving Private Sector

Aliko Dangote Retires From Dangote Cement Plc

Gov. Ododo Inspects Ultra- modern Market, Three Other Ongoing Projects In Lokoja

Singhvi,  who spoke while featuring on Business Morning Programme of Channels Television, said the proposed merger is solely for the growth of the business and high returns to all the key stakeholders.

He explained that the merger when completed will bring economies of scale to the business.

According to him, the merger will also lead to cost reduction as the evolved company will gain with an increase in production.

The cost, according to him, will now be spread over many goods.

Singhvi,  said Dangote Foods will have operational efficiencies, as there would be a reduction in the time needed to obtain raw materials, fuel, manpower, etc for production.

“Husk and biomass from Rice and Sugar Units will be useful to generate power for the running of the plants.

“Also, it is expected that the merger will result in improvement in the supply side of the food industry as many products will roll out of the one-stop food company,” he explained.

The Dangote Sugar Refinery helmsman was of the opinion that the merger will further advance the backward integration strategy of the Group as resources, machinery, and skilled manpower are to be harnessed to drive the process.

Dangote Foods Plc, he stated will have the potential for more geographical spread than the legacy companies as the products will be readily available in all the niche markets of the former and even more given the combined assets in terms of manpower, product range, transport, and warehouses.

” The company will have a stronger business case for access to capital as the combined business will be bigger and more attractive to lenders,” he added.

Speaking on the impact of deregulation of the foreign exchange market, he lamented that many manufacturing companies have sustained forex-linked losses in the period as they made provisions for the slump in the value of the Naira against the dollar.

Manufacturers, he noted are making provisions monthly to take care of the fluctuations in the value of the Naira.

‘‘The headwinds are really there. So, we have to be careful in provisioning for changes in the value of the local currency.

“The floating of the Naira led to a massive fall in its value. This has affected our operations in the sugar industry,” he stated. (vitalnewsngr.com)

 

Tags: Dangotefoodsmergerstakeholders
Previous Post

Dangote Inducts Kogi Youths In Technical Skills Acquisition

Next Post

Isese : OPC Urges FG To Relocate Kwara Capital From Ilorin Over Extremism

Vital News

Vital News

RelatedStories

Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire
Business

Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire

July 30, 2025
Dangote Says Tinubu’s Economic Policies Working, Reviving Private Sector
Business

Dangote Says Tinubu’s Economic Policies Working, Reviving Private Sector

July 27, 2025
Aliko Dangote Retires From Dangote Cement Plc
Business

Aliko Dangote Retires From Dangote Cement Plc

July 25, 2025
Gov. Ododo Inspects Ultra- modern Market, Three Other Ongoing Projects In Lokoja
Business

Gov. Ododo Inspects Ultra- modern Market, Three Other Ongoing Projects In Lokoja

July 24, 2025
FAAC Disburses N1.678trn February Revenue To FG, States, LGs
Economy

FAAC Shares N1.818trillion June Revenue Among FG, States, LGs

July 19, 2025
Next Post
Isese : OPC Urges FG To Relocate Kwara Capital From Ilorin Over Extremism

Isese : OPC Urges FG To Relocate Kwara Capital From Ilorin Over Extremism

Photos As Dangote Cement Inducts Kogi Youths In Technical Skills Acquisition

Photos As Dangote Cement Inducts Kogi Youths In Technical Skills Acquisition

Elumelu, Others Task Youths On Hard Work For Bright Future

Elumelu, Others Task Youths On Hard Work For Bright Future

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Troops Eliminate 3 Bandits In Zamfara, Recover Weapons

Troops Kill 6 Bandits In Kaduna Community, Recover 5 AK-47 Rifles

2 years ago

2 Female Children, 8 Others Die In Accident On Bode Saadu – Jebba Road

2 years ago

Bandits kill 1,192 persons, kidnap 3,348, injure 891 others in Kaduna in 2021 – Aruwan

3 years ago
Elections : NCPC Boss Urges Nigerians To Avoid Violence , Accept Results

Elections : NCPC Boss Urges Nigerians To Avoid Violence , Accept Results

2 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

Canada Announces Plan To Recognise Palestinian State By September

Governor Alia Dissolves Benue Executive Council, Appoints New Chief of Staff

Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire

Abdulrahim Thanks Governor Ododo Over Appointment as Governing Council Chairman Of Kogi College Of Nursing

Trending

NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute
Education

NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute

by Vital News
August 1, 2025
0

A delegation from the National Universities Commission (NUC) has paid a revalidation visit to the Distance Learning...

Work Ongoing To Re-Erect Three Towers Along Kainji-Birnin Kebbi Transmission Line – TCN

FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals

July 31, 2025
Ododo Applauds President  Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

July 31, 2025
Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

July 31, 2025
FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

July 31, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute August 1, 2025
  • FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals July 31, 2025
  • Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway July 31, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In