April 20, (THEWILL) — Dangote Sugar Refinery Plc has unveiled plans to raise ₦500 billion through a Rights Issue, pending regulatory approvals, as part of efforts to strengthen its capital base and support future growth initiatives.
The proposal was disclosed in a statement signed by Company Secretary, Mrs Temitope Hassan, following the company’s 20th Annual General Meeting held in Lagos. Shareholders approved the plan, authorising the board to proceed with the capital raise through the issuance of ordinary shares.
According to the company, the Rights Issue will be executed on terms and at a time determined by the directors, subject to necessary regulatory clearances. The offer may also be underwritten, depending on conditions approved by both the board and relevant authorities. Any shares not subscribed to by existing shareholders could be made available to other interested investors.
Dangote Sugar said the initiative is to reinforce its financial position and enable expansion across key markets, in line with its long-term growth strategy.
The move comes amid improved financial performance. In its 2025 audited results, the company reported a 24.56 percent increase in revenue to ₦829.2 billion, driven largely by strong demand for its 50kg sugar product, which accounted for ₦807 billion of total revenue.
Despite rising costs, including raw materials, pre-tax losses narrowed significantly to ₦72.2 billion from ₦270.8 billion recorded in 2024, reflecting improved operational efficiency and a gradual recovery trajectory.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
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