Founder of Dangote Group, Alhaji Aliko Dangote has cried out…

“Nigeria is currently losing at least 300,000 tonnes of sugar to smuggling annually. The smuggling activities in the sugar industry has hindered the employment of at least 250,000 Nigerians and it has also led to economic sabotage.”

“The negative activities made 2018 a challenging year for the company – Savannah Sugar Company, the influx of smuggled sugar into key markets nationwide is one of such activities. The Apapa gridlock also affected the evacuation of products from the refinery and constrained logistics operations, distribution, and delivery to customers.”

“The performance of Savannah Sugar Company, a subsidiary of Dangote group, was impacted by communal clashes between the host community and herdsmen which led to the closure of the company for more than three months. Despite the challenges, the company continued to post resilient performance.”

“The company achieved a group turnover of N150.4 billion, a 26 percent decrease over N204.4 billion posted in 2017. The company made a profit before tax of N34.6 billion, and a profit after tax of N22 billion Naira.”