The shareholders of Dangote Sugar Refinery Plc at its 20th Annual General Meeting (AGM) held on April 15 in Lagos approved the company’s capital raising of N500billion by way of Rights Issue, subject to the approval of the relevant regulatory authorities.
As part of the special business of the day, the shareholders also approved that the Rights Issue be underwritten on such terms as may be determined by the Directors, subject to obtaining the approvals of the relevant regulatory authorities.
The company currently has 12.146 billion shares outstanding, each valued at N68 as at close of trading in the week ended Friday, April 17. Dangote Industries Limited owns 8.122billion units or 66.87 percent of the shares outstanding.
Aliko Dangote owns 653.095million units or 5.38 percent, while other shareholders of Dangote Sugar Refinery Plc account for 3.371billion units or 27.7 percent of the total shares outstanding. The group’s loss for the year 2025 narrowed to N64.116billion from N192.616billion in 2024, though gross profit rose to N122.628billion from N31.109 billion in 2024.
The principal business activity of Dangote Sugar Refinery (DSR) is the refining of raw sugar to produce fortified and non-fortified granulated white sugar.
The Company distributes refined white sugar to consumers and industrial customers in Nigeria. It has an installed capacity of 1.44 million metric tons (MT) per annum with expansion plans in place.
The shareholders at the meeting received and adopted the company’s Audited Financial Statements for the year ended December 31, 2025, the Reports of the Directors, Auditors and the Statutory Audit Committee.
In alignment with the Federal Government of Nigeria policy guidelines, Dangote Sugar Refinery continues to focus on its Backward Integration Project (BIP) by deploying and reviewing project strategies from time to time.
The 10-year sugar development plan to produce 1.5 million MT Sugar per annum from locally grown sugarcane remains a germane roadmap to the attainment of the company’s objectives.
Currently, the Company is channelling resources towards ongoing BIP in Dangote Taraba Sugar Limited, Dangote Adamawa Sugar Limited and Nasarawa Sugar Company Limited.
In line with the core objective of the National Sugar Master Plan, which is for Nigeria to attain self-sufficiency in sugar production, the Company is working on enhancing its existing refinery operations in Numan, Adamawa State, as well as developing its greenfield sites at the Nasarawa Sugar Company Project, amongst other sites.
The Company intends to achieve 1.5MT annually from locally grown sugarcane. Furthermore, upon completion of the ongoing refinery upgrade in Numan, this operation is anticipated to generate 32 megawatts of electricity through the installation of new turbines and 2 high-pressure boilers capable of producing 90 tonnes of steam per hour.
Additionally, the Company intends to produce ethanol and animal feed from by-products such as molasses and bagasse. The improvement from ethanol derived from sugarcane contributes to the reduction of greenhouse gas emissions, as well as strengthening the capacity of sugar production to 9,800 metric tonnes per day. On June 29, 2023, Dangote Sugar (Ghana) Limited was established in Ghana as a subsidiary of the Company in line with the mandate to expand the Company’s presence and frontiers across Africa.
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