Dangote Sugar Refinery Approves ₦500bn Rights Issue at 2026 AGM
Dangote Sugar Refinery Plc held its 20th Annual General Meeting on April 15, 2026, at Lekki Phase I, Lagos, where shareholders passed a series of ordinary and special resolutions. The resolutions covered board appointments, auditor remuneration, audit committee composition, and a shareholders' authorisation for the company to raise up to ₦500 billion via a Rights Issue.
At its 20th Annual General Meeting held on April 15, 2026, Dangote Sugar Refinery Plc passed multiple resolutions covering routine governance matters and a significant capital-raising exercise. Shareholders adopted the Audited Financial Statements for the year ended December 31, 2025, alongside the Directors', Auditors', and Statutory Audit Committee reports.
The meeting ratified the appointments of Mr. Thabo Solomon Mabe and Mr.
Mulhim Eltaeb as Directors, both effective December 1, 2025, and re-elected Mrs. Yabawa Lawan Wabi, Ms.
Bennedikter Molokwu, and Mr. Olakunle Alake, who were retiring by rotation.
PricewaterhouseCoopers was retained as auditor, with Directors authorised to fix their remuneration for the year ending December 31, 2026. Three shareholders — Mr.
Olusegun Olusanya, Mallam Dahiru Ado, and Hadjia Muheebat Dankaka — were elected to the Audit Committee alongside two Non-Executive Directors. On special business, shareholders authorised the Directors to raise up to ₦500 billion through a Rights Issue of ordinary shares, subject to regulatory approvals.
The resolution also permits the Directors to apply existing shareholder loans toward Rights Issue subscriptions and to amend the Memorandum and Articles of Association to reflect any resulting increase in issued share capital.
