Dangote fires 36 Expatriates, 12 Nigerians over Poor Business

Recession is sure affecting many, including the very rich. The current hardship rocking the economy has hit one of the biggest employers of labour in Nigeria as the Dangote Group, belonging to Africa’s richest man, Aliko Dangote, has fired 48 senior members of staff.

Those sacked were made up of 36 expatriate and 12 Nigerian workers from the group’s headquarters and one of the subsidiaries, Dangote Cement Plc.

Though no official of the group was willing to speak on the matter, The Punch gathered from highly placed sources that the decision to sack the workers was not unconnected with the current high cost of running business in the country occasioned by the unavailability of foreign exchange and the unprecedented hike in the naira to dollar exchange rate.

It was further gathered that the huge amounts in foreign currencies being paid to the expatriate workers had become a burden on Dangote due to the steady depreciation in the value of the naira and the difficulties of raising enough dollars.

Consequently, Dangote, according to sources, has decided to replace the expatriates with Nigerians, who have acquired the requisite experience on the job, and he will be paying them in naira.

For the affected Nigerians, it was gathered that most of them had disciplinary issues, which made it easy for the group to do away with their services.