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Recession: Dangote Sacks 36 Expatriates, 12 Nigerians.

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The current recession in the country, hit the Dangote conglomerate leading to the retrenchment of not less than 48 staff including 36 expatriates, and 12 Nigerians serving in Dangote Cement Plc and Dangote Industries Limited.

Though no official of the group was willing to speak on the matter on Sunday, sources gathered from highly placed sources that the decision to sack the workers was not unconnected with the current high cost of running business in the country occasioned by the unavailability of foreign exchange and the unprecedented hike in the naira to dollar exchange rate.

It was further gathered that the huge amounts in foreign currencies being paid to the expatriate workers had become a burden on Dangote due to the steady depreciation in the value of the naira and the difficulties of raising enough dollars.

Consequently, the industrialist, according to sources, has decided to replace the expatriates with Nigerians, who have acquired the requisite experience on the job, as paying them in naira will be less problematic.

For the affected Nigerians, it was gathered that most of them had disciplinary issues, which made it easy for the group to do away with their services.

When contacted on Sunday, the Group Head, Corporate Communications, Dangote Group, Tony Chiejina, said he could not speak on the development.

However, in a letter signed by the President/Chief Executive Officer, Dangote Group, Aliko Dangote, dated Thursday, October 20, 2016,the firm stated that it was constrained to take the “tough” decision as economic factors had affected the cost of production.

The letter, which was titled: ‘Recent Retirement Exercise’, however, appreciated those affected for their contributions to the growth of the group.

The letter read in part, “This year has been a very challenging year for us as a business. The unavailability of foreign exchange coupled with an unprecedented hike in the exchange rate has resulted in increased costs across the organisation.

“This called for a proper review and adjustment of our costs across board to ensure efficiency and effectiveness in the deployment of our factors of production in a bid to eliminate redundancies that we know exist, which resulted in some tough decisions, which means losing staff, including some of our colleagues.

“On Friday, October 14, 2016, we began the process of staff cutbacks as it is imperative to review our human capital deployment for the required cutbacks that would ensure efficiency and eliminate redundancies in the allocation of human resources.

“This first phase of this exercise involved the cutback of 36 expatriate staff across the Dangote Cement Plc and Dangote Industries Limited, and 12 local staff members in Dangote Industries Limited.”

As an organisation with international operations, the group promised that it would continue to review and restructure its human capital deployment to ensure “optimal allocation of skill sets and size of the workforce each function requires.”

The group urged the workers to shun lateness, improper dressing and other unsavoury behaviours in the workplace.

Bloomberg had in its latest ‘Billionaire Index’ reported that Dangote had lost $5.4bn of his fortune this year due to the fall in the value of the naira and the decision of the Central Bank of Nigeria to ration dollars to stem huge capital outflows in the wake of Nigeria’s worst economic crisis.

Dangote had recently urged the Federal Government to sell off the Nigerian Liquefied Natural Gas Company and other dormant but huge capital-generating enterprises and reinvest the proceeds in the economy to bring the country out of the current economic recession before the end of the fourth quarter.

Dansa Foods Nigeria Limited, which claims to be a member of the Dangote Group, has reportedly been unable to pay its workers for the past six months.

The company is being run by Alhaji Sani Dangote, a brother of Aliko, who is the Executive Chairman, with Aliko’s shares embedded in the firm.

Multiple sources in the Dangote Group claimed that Dansa Foods was not part of the group but was an independent company owned and run by Aliko’s brother.

However, in a statement announcing its participation at the just concluded Lagos International Trade Fair, the group listed some of its subsidiaries as Dangote Sugar Refinery, Dangote Agrosacks, NASCON Allied Industries Plc (Dangote Salt), Dangote Rice Limited, Dangote Cement Plc and Dansa Foods Limited.

It was reported that the company, which produces Dansa Juice and other goods, had laid off more than half of the workforce following dwindling sales and high cost of production caused by high exchange rate of the naira.

It was gathered that the company had suspended the production of Dansa Juice and other products, and was only producing Mowa Bottle Water.

As a result, the workers have reportedly embarked on a strike to press home their demand.

 

MUSIC

Gospel Artiste Olaoba Joins Mercy Chinwo’s Record Label

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Bidemi Olaoba joins Mercy Chinwo's record label | fab.ng

Bidemi Olaoba, a gospel singer who is gaining popularity quickly, has just joined a new record label. The label is called Grace and Truth Nation (GNT) Nation. Pastor Blessed Uzochikwa and his wife, Mercy Chinwo, co-founded the record label. This is exciting news for both the singer and the record label.

Pastor Uzochikwa is the president of GNT Nation.

He released a statement to share his enthusiasm about Bidemi Olaoba joining the label. He said that Olaoba’s arrival is a very important moment for GNT Nation. According to Pastor Uzochikwa, the record label’s mission is to spread the message of Christianity through the power of gospel music. He believes that Olaoba will be a valuable asset in helping them achieve that goal.

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ENTERTAINMENT

Media Personality, Stephanie Coker Opens Up On Her Battle With PCOS

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Stephanie Coker opens up on her battle with PCOS | Fab.ng

Stephanie Coker-Aderinokun, a media personality and actress, bravely discussed her challenges with PCOS and IVF in a recent interview with Chude Jideonwo. She revealed the emotional turmoil she faced after her second IVF attempt failed, confessing that she nearly resorted to taking her own life.

Stephanie disclosed that she invested a significant amount of money, over $40,000. She went as far as travelling to Los Angeles for an IVF procedure, only to have it end unsuccessfully last year.

After an unsuccessful round of IVF, she felt deeply discouraged and confided in a friend. She expressed a strange sense of rejection, feeling like even the baby didn’t want her. This was especially difficult because IVF was her only chance at having a child due to her PCOS.

The PCOS caused such severe bleeding that she was hospitalised, and at her worst point, she was confined to a wheelchair and even had to sleep outside in the garden to cope with the overwhelming internal heat. It had been a very physically and emotionally challenging time.

Furthermore, Stephanie Coker shared how the challenges escalated when her husband faced public scrutiny and lost his election. This intensified the backlash against them, adding another layer of difficulty to their already challenging situation.

Watch the video below:

Check out more updates here.

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ENTERTAINMENT

Nigerian Celebrities Dissatisfied With Reintroduced National Anthem

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Nigerian celebrities dissatisfied with new national anthem | Fab.ng

Nigerians were surprised by a swift government decision to bring back the old national anthem, “Nigeria, We Hail Thee.” This change replaced the current anthem, “Arise, O Compatriots,” which had been in place since 1978.

The switch happened in just a few days: the House of Representatives passed a bill on May 23rd, the Senate followed suit a few days later, and President Tinubu signed it into law on May 29th, 2024.

This move sparked criticism from many Nigerian celebrities on social media. They felt the government’s priorities were misplaced.

Instead of focusing on changing the national anthem, celebrities argued that the government should tackle more pressing issues like insecurity, unemployment, and the struggling economy.

See some of their reactions below:

Adekunle Gold wrote: “No one thought Timi Dakolo’s Great Nation makes a better anthem?”

Kate Henshaw: “In the midst of excoriating hardship & lack of good governance on every level, but not to worry, going back to a colonial anthem will be a soothing balm and inject patriotism back into our veins, a much-needed drug.”

Illbliss wrote: “Of all things to address….. The f***ing National Anthem. At this point, they can change the flag to purple and burgundy, shoot the horses on the coat of arms, and let the dead eagle 🦅take flight.  Really sick of the incompetence.”

Noble Igwe wrote: “Exchange rate is skyrocketing, cost of living is so high, insecurity in many parts of the country but one year in office, however, let’s change the national anthem.

This is so sad and shameful.”

Toolz wrote: “I’m not learning any other national anthem…”

Charly Boy wrote: “Animals in Agbada fit make me start to sing our olden days National Anthem, imposicant. Vagabonds in power wan distract us from hunger, kidnapping, high cost of living by organizing useless priorities for us to follow so we no go dey talk as e dey pain us?

Who no know say APC na monumental failure in the history of politics for Naija. If one-year dey like dis, imagine how many of us go kpai in the nxt 3yrs. Nonsense. Dia fathers.”

Joeboy wrote: “Of all the problems Nigerians have to deal with, changing the national anthem is priority? Okay naw.”

Teni wrote: “Arise o compatriots, I’ll miss you, thank you for so many childhood memories. Till we meet again, love, SM.”

Lastly, Erigga wrote: “Now that we have the old national anthem, can we now have the old price for foodstuff and dollar?”

Get more updates here.

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