2018 Was A Difficult Year For Our Food Businesses – Dangote
Nigeria’s tough economic environment left Dangote Group’s food business slightly subdued in 2018.
The president of Dangote Group, Aliko Dangote told his customers on Monday night that 2018 was especially difficult year for his food subsidiary including Dangote Flour mill and Dangote Sugar Refinery.
“You are all aware that we are celebrating 2018 against all odds. Our Food businesses recorded mixed results in the year with NASCON growing while Dangote Sugar Refinery and Dangote Flour Mill had a very difficult year.
“Fluctuations in performance are known to occur in the life of businesses but the greater part is that you persevered with us. This underlines our theme of ‘Better. Stronger. Together’,” Dangote stated.
He added: “My special commendation goes to Dangote Sugar and Pasta customers who, despite the price challenges posed by influx of unlicensed and substandard grey imports stood by us.
“We have remained the dominant brand in most of the sectors where we play in the food sector, and we are delighted to have you as our partners through thick and thin,” he said.
Dangote said that the challenges would soon become history as investment in the sugar sector would soon create between 75,000 to 150,000 jobs, price reductions and improved profits to customers.
He commended the customers for enduring the Apapa gridlock that caused delay to product delivery and increased cost to business.
“To reduce the traffic gridlock, we invested significantly in the Apapa road reconstruction project and the completion in 2019 should bring massive relief to our three food companies as well as our competitors operating from the axis,” he said.
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