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Nairaland Forum / Nairaland / General / Business / Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion (4856 Views)
Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses / Dangote Sugar Refinery In Niger State Shut Down / Dangote Sugar Posts N54bn Profit Before Tax In 2017 (2) (3) (4)
Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by Great100000: 9:53am On Mar 04 |
Dangote Sugar incurs N172 billion in forex losses, ends 2023 with N108.9 billion loss. Dangote Sugar Refinery Plc has reported a loss before tax of N108.92 billion compared to a pre-tax profit of N82.3 billion a year earlier. Source: https://nairametrics.com/2024/03/03/dangote-sugar-incurs-n172-billion-in-forex-losses-ends-2023-with-n108-9-billion-loss/ https://dailytrust.com/dangote-sugar-ends-2023-with-n108-9bn-loss/ 1 Like
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Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by derecho(m): 9:56am On Mar 04 |
He'll recoup it from the AfDB loan. Tinubu will share the money amongst the 40 thieves 10 Likes 1 Share |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by MrProlific95: 9:58am On Mar 04 |
The Hawk Dangote or any of its subsidiary deserves no pity. Hes gonna get his money Back soon 4 Likes |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by SoNature(m): 10:01am On Mar 04 |
All the news about companies' performance we read on Nairaland is being deficit upon deficit. Does it mean no company makes money in Nigeria? If so, why are they still in business? 11 Likes 1 Share |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by RepoMan007: 10:02am On Mar 04 |
I am not understanding this whole forex loss concept. If you deal with Naira, use local sugarcane, pay in Naira, and sell in Naira, how did such massive forex loss come about? Equipments? Is it tied to imported parts? 10 Likes 1 Share |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by AllTheWayUp: 10:04am On Mar 04 |
The Great Tinubulation 2 Likes |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by majole: 11:24am On Mar 04 |
RepoMan007: Dangote imports crude sugar drom brazil and refines it in Nigeria 8 Likes |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by RepoMan007: 11:28am On Mar 04 |
majole:that means the loss is talking about what could have been made as profit and not necessarily what was lost to sluggish sales. 4 Likes |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by Goodlady(f): 1:06pm On Mar 04 |
Bad time. Bad day devil drink water! Body go dey pepper Dangote towards the board of the sugar refinery now! He must be throwing mugs at them that se oloriburuku niyin ni? 1 Like 1 Share
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Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by Reelmii: 1:06pm On Mar 04 |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by CountinBlessins(m): 1:07pm On Mar 04 |
RepoMan007: Exactly!! alot of coys like Dangote were engaged in unethical anti progressive practices. Tell me if Dangote was so good to our economy , he has been running a government backed monopoly on sugar and cement for decades , why dont we have a sugar cain plantation? why dont we have billionaire farmers who made billions from selling sugar to dangote for decades? are you seeing it clearly? People like Dangote are a danger to Nigeria and her economy! Dangote used his fulani cabal backed monopoly to excavacte and evicerate the Nigerian economy and people while enriching the countries they imported from while answering the name Local business mongul. Where are the farmers who have been making billions from selling sugar from their plantation to dangote to make sugar for decades? where are the salt billionaires he made who ahve been selling salt raws to him to refine into trable salt for decades? While i am angry with Tinubu, if only you know what the fulani cabal used dangote to do to the Nigerian economy for decades you will know why the conomy is this terrible, Look no further than the Fulani cabal, unfortunately Tinubu realized this too late. He taught the fulani were his friends, remember the fulani and yoruba are one mantra? Tinubu came to power using the igbo hate as his moto now it's all back fired 4 Likes |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by Kionrae: 1:09pm On Mar 04 |
RepoMan007:ask dangote Who u dey ask for here 2 Likes |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by remi4ever(m): 1:09pm On Mar 04 |
I have nothing to say. |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by Iseoluwani: 1:10pm On Mar 04 |
good for him. this man is one of nigeria major problem. infact a senior stakeholder in nigeria problem. sugar became increasingly expensive that we couldnt see it. Bakers are frustrated 2 Likes |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by Iselogunise: 1:11pm On Mar 04 |
This is to inform us that sugar price will soar soon. Dangote no Dey make loss Note this and thank me later 2 Likes |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by HeatSeeker(m): 1:12pm On Mar 04 |
SoNature: Only the banks and some oil companies are posting profit |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by crestedaguiyi: 1:12pm On Mar 04 |
The guy no go forgive himself for bankrolling this failure in power . Him sef been don exploit us too much |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by sevo(m): 1:13pm On Mar 04 |
losing #172 billion for dangote is like losing #2,500 for other nigerians... niqqa knows he will gain #712 billion in 2 days |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by Almunjid(m): 1:13pm On Mar 04 |
Dangote incurred loss even after increasing the price of Sugar? 3 Likes |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by tommy589(m): 1:17pm On Mar 04 |
CountinBlessins: You started well but portraying tribes different from yours as bad makes your contribution bias 1 Like |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by CountinBlessins(m): 1:18pm On Mar 04 |
tommy589: So did you |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by xandy84: 1:27pm On Mar 04 |
Dangote employed thousand of Nigerians and he is enemy of Nigeria according to you while politicians employ nobody, steals the country blind but you can understand. Here is how economics of a country is run. Companies like Google, Walmart, Microsoft etc that employs millions of Americans call the short by giving their inputs on what economic policies the government should pursue. A whole state in US will make new laws to accommodate a company cos they create jobs. When Disney was having problem in Frorida, my home state of Virginia offer Disney, free land, tax free for 10 years to attract them cos of the 80k jobs. Such rules include lots of perks and freebies. What Dangote get is what he is entitled to cos he creates lots of jobs. That is how you attract jobs. CountinBlessins: 3 Likes 1 Share |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by Kukutenla: 1:31pm On Mar 04 |
It has favored them and their family |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by CountinBlessins(m): 1:35pm On Mar 04 |
tommy589: I didnt ever bring in tribal supremacy. You are too emotional, you need to learn the difference between facts & truths versus bias. truth is said to be painful for a reason. Tinubu ran a tribalistic campisgn and painted igbos as bad then went on to tell the whole nation how yoruba nd fulani are one!!! But alas today the same fulani are ntry desperately to topple his government. And the same tinubu is trying to bring the very igbos he vilified to his side. who is the bad one here? |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by Anguldi(m): 1:35pm On Mar 04 |
Declare loss and pay little or no tax return. Old format Next 1 Like |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by BigIyanga: 1:37pm On Mar 04 |
majole:Our biggest importer and chopper of FX |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by Watinhapen(m): 1:44pm On Mar 04 |
I suspect these companies are just recording loses all over the place so that they don’t pay dividends to their shareholders. If you’re actually recording loses, how then are you still in business? Shareholders need to actually investigate these companies. 2 Likes |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by blowjohn(m): 1:46pm On Mar 04 |
So in short, did he gain or lose? No be this man them say get access to dollars from emefelie? Someone once said that what they do is resell the dollars in the black market instead of using it for their businesses |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by blowjohn(m): 1:49pm On Mar 04 |
Almunjid: But 'allegedly' got millions of dollars at low rate...... So what did he use the dollars to do? Did he use if to strengthen his businesses Or He resold them at much higher rates in the black market? 1 Like |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by SALLYBERRY01(m): 1:58pm On Mar 04 |
Ok |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by Almunjid(m): 2:01pm On Mar 04 |
blowjohn:This Dangote matter dey difficult to understand. It seems he's making profit in one business and incurring loss in another. |
Re: Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion by blowjohn(m): 2:37pm On Mar 04 |
Almunjid: A d he just recently was renamed richest in Africa o |
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