Tuesday, September 18, 2018/09:12AM/Dangote 

DangoteGroup has emerged winner of the 2018 prestigious Nigerian Risk Award (NRA)which recognizes organizations who have made measurable impact within theirsector through the effective application of good governance, risk managementand internal control systems and strategies. 

Theaward was on Thursday, September 6, 2018 conferred on Dangote at the Fourth NRAsummit attended by top executives of both public and private sector was chairedby the Pro-Chancellor and Ex-Chairman of the Governing Council, Lagos BusinessSchool and Pan-Atlantic University, Dr. Christopher Kolade and recognized otherindividuals and organizations across - Banking and Investment; Insurance andPension, telecoms and Media Service, Oil and Gas Services sectors. 

DangoteGroup was shortlisted for the award by a panel of judges made up of 14 riskmanagement professionals and academics across 4 countries including - NigeriaUnited Kingdom, United States of America and Denmark. 

Accordingto NRA co-chair Mr. Tunde Popoola, the panel of judges responsible forassessing all entries for the prestigious award, assessed all entries based onfour criteria and went further to include a fifth and evidence-based metric tothe selection process, further streamlining the process and ensuring winnershave demonstrated actual value in the context of an overall risk managementprogramme. 

Hesaid “This year’s award recognizes organizations that have successfullyintegrated and promote risk management culture and practices. Thedecision-making process is merit driven and a new metric was introduced toattest the evidence of success made by organizations. This changed the outcomesignificantly as quiet a lot of companies applied but failed on the part ofproviding evidence.” 

Hefurther said “All 14 judges participated in the assessment process and rankedall entries on response provided on - what was done by the organization inintegrating and promoting risk management culture and practices; when it wasdone; how it was done; what was achieved and the final metric of evidence ofresult which carried 30% of the entire rating. To win, any organization mustscore a minimum of 70%.” Dangote Industries Limited emerged as the winner inthe Manufacturing, Production and Industry’ category. 

Receivingthe awards, Group Operational Lead, Risk Management of Dangote Group, Mrs.Eneni Oduwole expressed gratitude to the organizers of the event and the panelof judges who have committed immense resources towards the project, she said"As Africa’s foremost business conglomerate, we understand the importanceof integrating a robust and relevant Risk Management practices and we arehonoured to receive this award from NRA, a body committed to championing thecause of risk management excellence. The rigorous judging process reaffirms theoutstanding Risk Management framework of Dangote Industries Limited towardsdelivering superior value for our stakeholders, and it further fuels ourcommitment to do more" 

DangoteIndustries Limited in 2017, became the first manufacturing organization in WestAfrica to be awarded the ISO 22301 certificate in Business ContinuityManagement (BCM) following an external audit. ISO certifications are aninternational benchmark highlighting good business practices and providing aframework for an organization to proactively identify and mitigate current andfuture threats to business, allowing continuity across its operations andpreserving stakeholder value.

Otherawardees at the summit include – Ex governor of Ondo State, Dr. Olusegun Mimikofor promoting Health, Safety and Emergency Risk Management in Nigeria; LagosState Emergency Management Agency (LASEMA) for inspiring effective Emergencyresponse in Nigeria; Lagos State Safety Commission (LSSC) for Inspiring Safetypractice and education in Nigeria; Association of Enterprise Risk ManagementProfessionals (AERMP) for promoting Risk Management Awareness and Education in Nigeria; UBA Pensions, IITA and Forte Oil.

Related News

1.            Dangote emerges as the most admired African brand

2.           DANGSUGAR Appoints Mr.Ravindra Singh Singhvl as ChiefOperating Officer

3.           Top 50 Brands: Dangote Now the Most Valuable Brand InNigeria

4.           Dangote Cement Plc - Value Stock; Outlook StillBroadly Positive

5.           DANGCEM Proposed Issuance of 950 Billion Series 3 and4 Commercial Paper

6.           DANGFLOUR Declares N3.25bn PAT in Q2 2018Results,(SP:N11.40k)

7.           Dangote Rice to Launch 25,000 Hectares of Rice OutgrowerScheme in Sokoto

8.          Dangote Flour divests from Noodles, Cedes Assets to Dufil

9.       Dangote’s new Pasta products to compete with rice