Dangote Sugar Refinery announces full-year profit increase

Dangote Sugar Refinery, one of Nigeria's leading sugar producers, has announced a significant increase in profit for the full-year financial results of 2016. Despite facing challenges such as FX restrictions and energy sector disruptions, the company managed to grow its turnover and maintain a robust performance. Conservative pleasure, the acting group manager and director of Dangote Sugar Refinery, shed light on the key factors that contributed to the company's success. The challenges encountered in 2016 included FX restrictions and energy sector disruptions. Conservative pleasure highlighted the impact of gas shortage on power generation, leading to increased operational costs. However, the company was able to mitigate these challenges and achieve a turnover of 778,000 metric tons of sugar, just a slight decrease from the previous year. Pleasure emphasized the importance of forward planning and operational efficiency to navigate through these challenges and maintain production levels. The company's proactive approach to converting boilers to alternative oil and exploring opportunities for backward integration demonstrates its commitment to sustainable growth. Dangote Sugar Refinery's aggressive growth strategy aligns with the Nigerian Sugar Master Plan, aiming to reduce the country's reliance on sugar imports and enhance local production. By investing in capacity expansion and backward integration, the company plans to produce 1.5 million metric tons of sugar to meet domestic demand and explore export opportunities. The planned establishment of a plantation and refinery in Nasarawa State underscores Dangote Sugar Refinery's long-term vision for self-sufficiency in sugar production and economic empowerment. With 70% market share in Nigeria, the company is poised to further consolidate its position and expand into regional markets. Conservative pleasure acknowledged the significance of achieving self-sufficiency in sugar production and outlined plans to explore export markets in West Africa. The company's ambitious growth targets and commitment to operational excellence position Dangote Sugar Refinery as a key player in Nigeria's sugar industry. With a clear roadmap for expansion and innovation, Dangote Sugar Refinery is set to revolutionize the sugar sector and contribute to the country's economic development.