• About
  • Advertise
  • Contact
Friday, August 22, 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

Ahead TICAD9 Summit, President Tinubu Arrives Japan

146 Nigerian Women Entrepreneurs To Access $50mln WTO Trade Grant

Capital Inflows Into Nigeria Up By 67.12% In Q1 2025

Nigeria Records $3.23 billion From Non-Oil Exports

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

Yelewata Masacre : President Tinubu To Visit Benue State June 18
Economy

Ahead TICAD9 Summit, President Tinubu Arrives Japan

August 18, 2025
146 Nigerian Women Entrepreneurs To Access $50mln WTO Trade Grant
Business

146 Nigerian Women Entrepreneurs To Access $50mln WTO Trade Grant

August 15, 2025
Capital Inflows Into Nigeria Up By 67.12% In Q1 2025
Economy

Capital Inflows Into Nigeria Up By 67.12% In Q1 2025

August 11, 2025
Nigeria Records $3.23 billion From Non-Oil Exports
Business

Nigeria Records $3.23 billion From Non-Oil Exports

August 11, 2025
Kogi Govt Moves To Attract Investors To Exploit Oil, Gas Deposits
Business

Kogi Govt Moves To Attract Investors To Exploit Oil, Gas Deposits

August 8, 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

Dangote Refinery will end perennial fuel crisis in Nigeria – Ahmed

3 years ago
Rivers LGs : I Am Yet To See Details, Fubara Says As He Reacts To Supreme Court Judgment

State Of Emergency : Fubara Blames Rivers Assembly Members, Urges Calm

5 months ago
MR PRESIDENT, YOUR ADDRESS DID NOT ADDRESS –  Taofiq Adesina Azeez

Buhari Apologises To Nigerians Who Feel Offended By His Actions

2 years ago
Kogi@32 : Allow Ododo To Succeed Me, ,Bello Appeals To Kogi Voters

Kogi@32 : Allow Ododo To Succeed Me, ,Bello Appeals To Kogi Voters

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

FG Empowers Colleges Of Education To Offer NCE, Degree Programmes Without University Affiliation

EFCC Arrests Deputy Vice Chancellor, Bank MD, Two Catholic Sisters Over N1.2bln Loan Fraud

Presidency Confirms Appointment Of Rotimi Pedro As New DG Of NTA, Three Executive Directors

Nigeria’s Consul General In Cameroun, Taofiq Coker Is Dead

Explainer : How INEC Declares LP Candidate Serving Jail Term Winner Of Enugu Assembly Rerun Election

Ladoja To Be Installed 44th Olubadan Sept. 26

Trending

President Tinubu Jets Out On State Visit To Saint Lucia, Brazil
National

Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again

by Vital News
August 21, 2025
0

President Bola Ahmed Tinubu has called on Nigerians in the Diaspora to contribute their expertise and resources...

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

Abia Secures $750mln World Bank Support For Renewable Energy

August 21, 2025
IGP Reiterates Ban On Public Parade Of Suspects

Woman Mistaken For Kidnapper Killed By Irate Mob In Ilorin

August 21, 2025
FG Empowers Colleges Of Education To Offer NCE, Degree Programmes Without University Affiliation

FG Empowers Colleges Of Education To Offer NCE, Degree Programmes Without University Affiliation

August 20, 2025
Court Berates EFFC Over Disregard For Rule Of Law, Orders Immediate Release Of Aisha Achimugu

EFCC Arrests Deputy Vice Chancellor, Bank MD, Two Catholic Sisters Over N1.2bln Loan Fraud

August 20, 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

  • Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again August 21, 2025
  • Abia Secures $750mln World Bank Support For Renewable Energy August 21, 2025
  • Woman Mistaken For Kidnapper Killed By Irate Mob In Ilorin August 21, 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