By Seun Ibiyemi Africa’s foremost industrialist, Aliko Dangote, has cautioned that escalating tensions in the Middle East and the resulting volatility in global oil markets could have severe economic consequences for Nigeria and other African countries. Dangote gave the warning on Monday in Lagos after a courtesy visit and Eid-el-Fitr homage to President Bola Tinubu….
By Seun Ibiyemi Dangote Industries Limited has signed a $4.2 billion natural gas supply agreement with GCL Group to power a major fertilizer plant in Ethiopia, the company announced on Monday. The deal, signed by Aliko Dangote in Lagos, guarantees a 25-year energy supply to the fertilizer complex, ensuring uninterrupted operations once the plant becomes…
Dangote Group has appointed Pontsho B. Mokoena as its new Group Chief Risk Officer, effective March 2026, as the conglomerate moves to strengthen its risk management and corporate governance framework. The company announced the appointment on Thursday, noting that Mokoena will oversee Enterprise Risk Management, Insurance, and Digital Transformation across the Group. In her new…
By Seun Ibiyemi Investors on Wednesday lost about N101 billion on the Nigerian stock market as sell-offs in major stocks reversed two consecutive days of gains on the trading floor. The downturn was driven by heavy profit-taking in stocks such as Dangote Sugar Refinery Plc, Jaiz Bank Plc, Chemical and Allied Products Plc, Union Dicon…
By Seun Ibiyemi President of the Dangote Group, Aliko Dangote, has announced plans to expand into steel production, electricity generation and port development as part of a sweeping strategy to accelerate industrialisation across Africa. Dangote, whose conglomerate already operates in cement, sugar, salt, fertiliser and petrochemicals, said the move is aimed at deepening Africa’s manufacturing…
By Adeyemi David The Chairman of the Dangote Group, Aliko Dangote has projected that the naira could strengthen to N1,100 per dollar in 2026, citing the effects of ongoing economic reforms and import substitution policies. Dangote made the remarks on Tuesday during the launch of the National Industrial Policy 2025 by the federal government. He…
President Bola Tinubu on Tuesday unveiled Nigeria’s Industrial Policy 2025, directing relevant Ministries, Departments and Agencies (MDAs) to ensure its speedy implementation as part of efforts to strengthen the country’s economic foundation. The policy was inaugurated on the president’s behalf by Vice-President Kashim Shettima at the Bola Ahmed Tinubu International Conference Centre in Abuja. Tinubu…
Dangote Group has signed a $400 million agreement with China’s XCMG Construction Machinery Co., Ltd. to acquire advanced construction equipment, as it ramps up expansion of its petroleum refinery and wider industrial operations. The deal will support the expansion of the Dangote Petroleum Refinery and Petrochemicals from its current 650,000 barrels per day to 1.4…
The Chairman of Nigerian Exchange Group, Umaru Kwairanga has called for the listing of viable state-owned enterprises as part of efforts to deepen liquidity and strengthen Nigeria’s capital market. Kwairanga made the appeal in a statement on Saturday after a strategic engagement with industrialist Aliko Dangote on Friday, which focused on sustaining ongoing reforms and expanding…
Dangote Petroleum Refinery has announced a significant operational milestone following the full restoration and optimisation of its Crude Distillation Unit and Motor Spirit production block, a development that reinforces steady output at Africa’s largest oil refining complex. The company confirmed that both units, which recently underwent scheduled maintenance, are now operating at peak efficiency. To…
