Aliko Dangote's Foundation Commences N13bn Rice Distribution to Nigerians
- Dangote is set to distribute over one million bags of rice across the 36 states of the federation, and Abuja
- 10,000 people are expected to be fed daily in an effort to alleviate the suffering of poor Muslims during the Ramadan period
- According to the Dangote Foundation, the amount of rice set aside for the initiative is said to be worth over N13 billion
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Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the stock market.
Aliko Dangote, the wealthiest man in Africa, has initiated a significant philanthropic endeavour via his humanitarian foundation by distributing rice valued at over N13 billion to disadvantaged communities throughout Nigeria.
The foundation actively provides meals to a minimum of 10,000 Muslims who are observing the Ramadan fast in Kano State.
Source: UGC
The billionaire businessman recently announced plans to complete state-of-the-art medical intervention projects at the Murtala Mohammed Specialist Hospital in Kano.
N13 billion rice distribution initiative
As stated by Samira Sanusi, an official representing the foundation in Kano, the overarching goal is to distribute one million bags of rice, equivalent to over N13 billion, across all 36 states of the federation as well as Abuja, aiming to mitigate the prevailing hardship in the nation.
Mrs. Sanusi elaborated that the Ramadan meals provided free of charge comprise a variety of dishes such as jollof rice, plain rice with stew, jollof spaghetti, yam, and beans accompanied by chicken and beef.
Each meal pack includes a bottle of water and a beverage for every individual.
According to Premium Times, these packed meals are disseminated at Juma'at mosques, thoroughfares, correctional facilities, orphanages, detention centres, and other locations within Kano City and its surrounding areas.
Furthermore, Mrs Sanusi mentioned that in addition to initiating the distribution of free bread four years ago, Mr Dangote has quietly supported those in need in Kano for over three decades.
She said:
“This feeding programme feeds 10,000 Kano residents daily with breakfast, lunch, and dinner, a unique feat that has been in existence for over 30 years.”
She explained that this support has been extended from his mother's residence in Koki and various cooking sites.
Another Dangote company crosses N1tn market value
Meanwhile, Legit.ng reported that Dangote Sugar Refinery Plc momentarily joined the elite club of companies worth N1 trillion in market capitalisation on the Nigerian Exchange Limited.
This is the second Aliko Dangote-owned company to join the exclusive league of SWOOTs (Stocks Worth Over One Trillion) group.
A check by Legit.ng revealed that on Wednesday, January 17, 2024, during trading, the share price of Dangote Sugar reached a high of N89.50, pushing the company's market capitalisation to N1.08 trillion.
However, at the close of trading by 2:30 pm on Tuesday, there was a significant drop in the price of the company's shares to N73.30, reducing the market cap to N889.66 billion.
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Source: Legit.ng
