38 MONDAY, JULY 9, <strong>2018</strong> capital market NSE daily activity summary (equities) 06/07/<strong>2018</strong> At a Glance Volume: 319.626 million Index: 37,625.59 Value: N3.072bn Mkt cap: N13.629tn Deals: 4,084
usiness & economy Akinpelu Dada For their continued loyalty, the management of Dangote Cement Plc has announced cash and kind rewards and priority distributorship licences as soon as Dangote’s refinery project comes on stream next year for the cement distributors. The President, Dangote Group, Aliko Dangote, who made the pledge at an award event for the distributors in Lagos, thanked the loyal cement distributors for their faith in the company and assured them of consistent rewards as a form of motivation for their patronage MONDAY, JULY 9, <strong>2018</strong> Dangote dangles fuel marketing licences at cement distributors NGPTC posts N6.1bn profit, to deliver pipeline projects OkechukwuNnodim, Abuja The Group Managing Director, Nigerian National Petroleum Corporation, MaikantiBaru, has announced a profit after tax of N6.11bn for the Nigerian Gas Processing and Transportation Company, a subsidiary of the NNPC. He said the PAT was recorded in the NGPTC’s first year of operation under the new structure, which had seen the company refocuse solely on gas transportation. Baru also stated that the firm was primed to deliver its vision of being the natural gas processing and transportation company of choice in Nigeria. He stated these on the sidelines of the 2017 Annual General Meeting of the company, noting that the NNPC was relying on the NGPTC’s competence to deliver the 614-kilometre Ajaokuta- Kaduna-Kano gas pipeline project. According to the NNPC, the AKK pipeline project is to be constructed through third party contractor financing and construction model, with almost $3bn of foreign direct investment coming into the country. Baru said apart from the AKK project, the NGPTC was also putting together new pipelines like the OB3, projected to come into operation later in the year. The Chief Operating Officer, Gas and Power, who doubles as Chairman of the NGPTC Board, Saidu Mohammed, said the company would consolidate on its strength and grow bigger. The Managing Director, NGPTC, BabatundeBakare, said the 2017 AGM result mirrored the corporation’s resolve to align with the prime objective of the Federal Government to harness the nation’s gas resources for the overall benefit of the Nigerian economy. The NGPTC, formerly known as Nigerian Gas Company, is a fully-owned subsidiary of the NNPC. It was incorporated in 1981 and commenced business in 1988. and loyalty to the brand. Dangote said, “This event today is significant for two reasons; first, it is in furtherance of our culture and practice to reward excellent performance by our customers. Secondly, it is also meant to build stronger and abiding value relationships. It is a night to say thank you for all your efforts in making Dangote Cement a household name in Nigeria and the number one preferred cement. “As soon as our new projects come on stream, the opportunity for priority distributorship will be available to you as reward for your loyalty. Thank you for your dedication and for being our support system.” The award ceremony was in recognition of the cement distributors’ long standing commitment, devotion, loyalty and valuable contributions to the sale of Dangote cement in 2017. Welcoming the distributors and other customers of the company to the award ceremony, the Group Managing Director and Chief Executive, Dangote Cement, Joe Makoju, said the company would forever be thankful to the distributors and all its customers for their loyalty and for making the public see the uniqueness of the Dangote cement brand. Makoju said the distributors must have seen that they had not made a mistake for deciding to do business with the company, and promised that the firm would continue to show appreciation to them and urged them to strive to sell more Dangote cement this year, with a promise that they would also be rewarded. He stated, “Our success story would not have been possible without you, our distributors, who work tirelessly to ensure that the product gets to our customers in every part of the country. We can never thank you enough! You have been an integral and vital part of our business over the years. “We are here to explore ways of further cementing our existing cordial relationship in order to create more value for all stakeholders. In fact, our ultimate desire is to create a win-win situation for our stakeholders at all levels down the value chain. This is in 39 line with the triple bottom line principle: people, planet and profits, which we have embraced here at the Dangote Group.” The overall best customer for the period, Mr Ifenchor Lawrence of Lafenax Company, lauded the management of Dangote Cement for giving back significantly to their loyal customer, adding that the gesture of Dangote Cement was unprecedented in the industry and pledged do more to sell the brand’s cement in order to maintain his first position.
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