Chairman of Dangote Industries Limited, Aliko Dangote has said that the devaluation of the Naira created the biggest mess for the company in 2023.
Speaking on Tuesday at the annual general meeting of Dangote Sugar Refinery Plc., the billionaire businessman said the company is working towards paying dividends this year.
He mentioned that a lot of companies were affected and will be unable to pay dividends.
“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% more so we will try and get out of the mess,” Dangote said.
“The biggest mess created was actually the devaluation of the naira from N460 to N1,400.
“You can see almost 97% 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.”
