Aliko Dangote, the chairman of Dangote Industries Limited, claimed that the Naira’s depreciation was the biggest mess for the company in 2023.
Speaking during the Dangote Sugar Refinery’s annual general meeting, Dangote said that this had an impact on other companies within the country.
He said;
“We are doing whatever it takes to make sure that at the end of the day, we will be paying dividends because if you look at our dividends last year, it was almost 50 percent more so we will try and get out of the mess.
“The biggest mess created was actually the devaluation of the naira from N460 to N1,400. You can see almost 97 percent of the companies, especially in food and beverages businesses, none of them will pay dividends this year for sure but, we will try and get out of it as soon as possible.
“We want to see that at the end of the day, no matter how small, we will be able to pay some dividends, especially if there is a rebound of the naira.” [CONTINUE READING HERE]
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