Dangote Sugar Secures Shareholder Approval for N500bn Rights Issue to Drive Expansion
Dangote Sugar Refinery Plc has received shareholder approval to raise N500 billion through a Rights Issue, a move aimed at strengthening its financial position and accelerating long-term expansion plans.
The approval was granted at the company’s 20th Annual General Meeting held in Lagos, where shareholders also commended the firm’s strong performance over the past year.
The Rights Issue is expected to boost the company’s capital base, enhance liquidity, and support key strategic initiatives, particularly its backward integration projects designed to increase local sugar production and reduce dependence on imports.
Management said the fresh capital will play a critical role in scaling operations, improving efficiency, and positioning the company for sustained growth in Nigeria’s competitive sugar market.
Shareholders expressed confidence in the company’s direction, backing its expansion strategy and reaffirming support for ongoing efforts to transform the business and unlock long-term value.
The development marks a significant step in Dangote Sugar’s growth trajectory as it seeks to consolidate its market position and deepen its contribution to Nigeria’s industrial and agricultural sectors.


