Some 'X' users have taken to their handle to react to the huge profit reported by Dangote cement. According to report, the group made a profit of N455.58 billion for the financial year ended December 2023. This profit is derived after tax removal.
This announcement by the largest cement makers in Nigeria is coming at a time when hardship is biting hard on the citizens. In addition, this news would certainly not go well with some Nigerians as a result of the recent increase in the price of a bag of cement.
In the report, the group revenue for the year 2023 was ₦2.208 trillion. The above figure is 36 percent more than the revenue recorded in 2022. The group's net profit is ₦456 billion. The above figure is 19 percent more than that of 2022.
Reacting to this news, some 'X' users left some comments on the post made by the Daily Trust. One Twitter user, @Shakurade55, asked why Dangote would not make a profit after raising the cost of one bag from ₦4500 to ₦10,000. Another user, @Ishaqibrahin, said the profit was made at the expense of the masses.
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