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Dangote Industries Limited Reaffirms Commitment to Bolstering Employment Opportunities for Nigerians

Dangote Industries Limited has underscored its unwavering dedication to fostering employment opportunities and advancing the cause of decent work for the Nigerian populace.

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Dangote Industries Limited has reiterated its steadfast investment in critical sectors of the nation’s economy to facilitate job creation and stimulate the growth of meaningful employment.

Speaking during the induction ceremony of a new cohort of graduate trainees, Mr. Aliko Dangote, the President of Dangote Group, highlighted the company’s transformative journey from a commodity trading entity to a manufacturing powerhouse.

This evolution is a testament to their unwavering mission to contribute significantly to Nigeria’s industrial development, consequently positioning the nation prominently in the African industrial landscape.

“The core mission of our group is to improve the lives of the people by addressing their fundamental needs. This noble objective can only be achieved through the production of essential goods that cater to the needs of our people. This is why we have made massive investments across various sectors of the economy,” stated Mr. Dangote.

Mr. Dangote further emphasized the pivotal role that manufacturing plays in meeting the needs of the populace and its potent ability to combat poverty by creating job opportunities.

He commended the ongoing graduate trainee program as a tangible manifestation of their commitment to employment generation, recognizing its positive impact on the lives of countless individuals.

In a strategic move aimed at fulfilling their goal of job creation and addressing the basic needs of the Nigerian people, Mr. Dangote revealed that his Group has expanded its business portfolio with three significant investments valued at over $20 billion.

These investments encompass the refinery, petrochemical, and fertilizer sectors, with the potential to not only bolster the nation’s economy but also reinvigorate Nigeria’s foreign exchange reserves.

Also, these initiatives are anticipated to generate approximately $16 billion in foreign exchange earnings and offer an impressive aggregate of 250,000 jobs, thereby contributing to the reduction of youth unemployment in the country.

Dangote Industries Limited remains unwavering in its commitment to making substantial contributions to Nigeria’s industrial landscape, and its dedication to providing employment opportunities that uplift the lives of Nigerians is undeniably resolute.

The Group’s continuous investments in critical sectors reflect a steadfast commitment to shaping a brighter future for both the nation and its people.

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NNPC Helicopter Incident: Three Bodies Found as Rescue Missions Continue

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The Nigerian National Petroleum Corporation (NNPC) announced on Thursday that a helicopter en route to the NNPC FPSO, NUIMS Antan, had disappeared.

According to the NNPC, the helicopter with registration number 5NBQG took off from the NAF base in Port Harcourt at around 11:22 am before losing contact after departure.

The helicopter operated by East Winds Aviation was carrying eight people, six passengers and two crew members.

On Thursday, the NNPC confirmed the loss of communication with the aircraft, adding that the Ministry of Aviation had been informed immediately and a search and rescue team dispatched to the area.

Olufemi Soneye, Chief Corporate Communications Officer for NNPC explained that the organization is committed to the ongoing rescue efforts and extended heartfelt prayers to the families of the victims.

In the press statement posted on its official X @nnpclimited, NNPC said three bodies have been recovered while the search continues to know the fate of the remaining five individuals on board.

As families await further news, the nation remains hopeful that more survivors can be found. The NNPC has assured the public that it will provide regular updates as the search progresses.

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Meta Fires Employees For Using Office Free Meal Vouchers to Buy Household Items

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The parent company of Facebook, Instagram, and WhatsApp, Meta, has allegedly relieved about 24 staff members at its Los Angeles office of their jobs.

The affected staff were accused of using their $25 (£19) meal credits to buy items such as toothpaste, laundry detergent, acne pad and wine glasses.

It was gathered that the dismissals followed an investigation that revealed the employees had been exploiting the system, including sending food home when they were not physically present at the office.

One of the terminated employees was an unnamed worker earning a $400,000 salary.

Another sacked employee anonymously shared on the messaging platform Blind, explaining how she and her colleagues maximized their dinner credits to buy other necessities when they could get food elsewhere.

The breach was discovered as part of the human resources procedure even though one of the workers admitted to it.

According to reports, employees who occasionally bent the rules received warnings but retained their positions.

Free meals have long been a benefit for employees of major tech firms like Meta, founded by Mark Zuckerberg.

Typically, staff at larger offices, including Meta’s Silicon Valley headquarters, enjoy complimentary meals from on-site canteens.

Employees at smaller locations receive daily food credits, redeemable through delivery services like UberEats and Grubhub, with allowances of $20 for breakfast, $25 for lunch and $25 for dinner.

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Flour Mills of Nigeria to Invest $1 Billion in Expansion and Restructuring Over Four Years

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Flour Mills of Nigeria Plc, a Nigerian diversified agribusiness company, has announced plans to invest $1 billion over the next four years to expand its facilities and restructure the company.

Chairman John Coumantaros, in an interview on Tuesday, said the new funding is about “doubling down on investment in Nigeria.”

This investment will further support President Tinubu’s reform efforts at a time when companies like Diageo Plc and Unilever Plc are exiting or reducing their exposure to the West African nation.

Since coming to power in May 2023, President Tinubu has introduced a series of reforms from allowing the naira to free float to fuel subsidy removal to make the country more attractive to investors and steer it away from fiscal collapse.

According to Coumantaros, $500 million of the total investment will go into its sugar operations in Niger state to boost production from the current 100,000 tons to over 400,000 tons a year.

An additional $100 million will be allocated to a cassava-processing factory to end imports of starch from the tuber and expand its breakfast cereal offerings.

The 64-year-old company will also undergo reorganization following an offer from Excelsior Shipping Company Ltd. last month to buy out minority shareholders at 70 naira per share.

The company plans to restructure its more than 22 units into five individual companies, Coumantaros said.

“We want to be able to attract technical and financial partners to help us grow our sugar operations and food business. We have a lot of ambitious plans for investment and expansion.”

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