Isola Moses | ����

African Export-Import Bank (Afreximbank) has announced the signing of a US$1.35 billion financing facility in favour of Dangote Industries Limited (DIL), Nigeria.

Dangote Group disclosed the facility is part of a larger approximately US$4 billion syndicated financing arrangement for DIL, reputed as Africa’s largest industrial conglomerate.

Afreximbank acted as the Mandated Lead Arranger, for the syndication, stated Dangote.

The conglomerate also explained that the financing — one of the largest syndicated loans in recent African financial markets — would refinance capital expended on constructing the Dangote Petroleum Refinery and Petrochemicals Complex, the biggest single-train refinery in the world with a capacity of 650,000 barrels per day (bpd).

It further stated the financing alleviates initial operational expenditures and enhances DIL’s balance sheet, supporting its continued growth trajectory.

Afreximbank contributed US$1.35 billion, the largest share among participating banks, underscoring its commitment to large-scale infrastructure that advances Africa’s industrialisation, energy security, and intra-African trade.

Since operations at the refinery complex began February 2024, Afreximbank has continued to support the Dangote Refinery by providing key financing solutions—for crude supply and product offtake—ensuring uninterrupted operations and reinforcing its role in Africa’s most significant refining intervention.

Commenting on the development, Prof. Benedict Oramah, President and Chairman of Board of Directors at Afreximbank, said: “With this landmark deal, we once again demonstrate that Africa’s development can only be meaningfully financed from within.

“It is only when African institutions lead the way that others can follow.”

Prof. Oramah said: “The journey to utilise African resources for its own economic transformation is well underway.

“Through the Bank’s funding support, we are enhancing the capacity of the Dangote Refinery and Petrochemicals Industries Limited to produce and supply high quality refined petroleum products to the Nigerian market, as well as for export to the entire continent and the world. Our energy security is in sight.”

Speaking on the deal also, Alhaji Aliko Dangote, President/Chief Executive of DIL, said: “Afreximbank’s contribution to this milestone financing underscores our shared vision to industrialise Africa from within.

“This refinancing strengthens our balance sheet and accelerates with ease the refinery’s supply of high-quality refined petroleum products across Africa.

“The syndicated facility attracted strong participation from leading African and international financial institutions, reflecting enduring confidence in Africa’s industrial potential and Dangote’s vision in transforming Africa.”

Alexander Davis | ����

Access Bank Plc has successfully closed a US$100 million senior loan facility with a consortium of Development Finance Institutions (DFIs)

The consortium was led by the German DFI DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, and supported by FinDev Canada, Amsterdam-based asset manager ILX, and Austrian DFI OeEB, Oesterreichische Entwicklungsbank AG.

���� reports Access Bank said the fresh significant financing would support privately-owned MSMEs, small corporates, and family-owned businesses across Nigeria, with a particular focus on promoting female entrepreneurship and economic empowerment.

Why focus on women-owned and women-managed businesses

The leading financial institution in Africa also said least 30 percent of the new loan facility would be dedicated to gender lens investing in the spirit of the 2X Challenge, ensuring that women-owned and women-managed businesses are prioritised.

This initiative is crucial in Nigeria, Africa’s most populous country, where supporting women entrepreneurs and MSMEs can drive job creation and contribute to reducing inequality.

Speaking on the partnership with the international finance institutions, Roosevelt Ogbonna, Group Managing Director (GMD) of Access Bank Plc, remarked: “At Access Bank, we remain steadfast in our commitment to driving economic transformation and fostering inclusive growth across all the countries we operate.

“This partnership not only strengthens our ongoing efforts to empower women in business but also reinforces our support for Nigeria’s MSME sector, which plays a pivotal role in the country’s economic development.”

Ogbonna stated: “Through strategic collaborations like this, we continue to enhance opportunities for underserved communities, and we look forward to building on this success to impact even more lives across Africa.”

The bank further noted that the latest facility marked the fourth collaboration between DEG and Access Bank Group.

It, however, said was equally the first time in their eight-year partnership that DEG’s has acted as the lead arranger in the transaction.

DEG’s investment in the deal amounts to USD 25 million, strengthening the long-term relationship between the two institutions, Access Bank stated.

DEG CEO: We’re empowering female entrepreneurs, investing in Nigerian economy

In his comments on the transaction, Roland Siller, Chief Executive Officer (CEO) of DEG said: “This financing marks a major step in our ongoing commitment to supporting inclusive growth in Africa.

“By partnering with Access Bank, we are not just empowering women entrepreneurs and strengthening MSMEs but also investing in the future of Nigeria’s economy.”

Siller also remarked: “This collaboration, which has blossomed over the last eight years, goes beyond just providing funding and speaks to our shared commitment in creating sustainable, long-term opportunities that foster job creation and innovation.

“At DEG, we are focused on helping businesses in developing and emerging markets thrive, offering not just financial support but also advisory services that help them scale and succeed.

“Our work with Access Bank is a clear example of how we can build stronger economies through impactful, sustainable investments.”

It is recalled that Access Bank Plc, in 2024, made a significant social and environmental impact across the African continent, touching millions of lives and earning multiple industry accolades.

The banking institution, through various corporate social investment initiatives in education, entrepreneurship, health, and the environment, also reached over 21 million individuals across the continent.

Courtesy of its W-Initiative, the Access Bank also noted it disbursed loans to over a million women-led Small and Medium Enterprises (SMEs) while advancing financial inclusion and gender empowerment in Africa.

Alexander Davis | ����

In a revealing self-published article on medium, Hanu Fejiro Agbodje, a Nigerian-born tech innovator, shared his inspiring experience from an unforgettable week he recently spent with Sir Richard Branson, legendary co-founder of the Virgin Group, on the billionaire’s private Necker Island, a part of the British Virgin Islands.

However, the biggest highlight of Hanu’s time on the magnificent island was Sir Branson’s challenge to the 29-year-old entrepreneur as he was about leaving: “He (Branson) called me aside one more time: ‘Promise me you’ll get that book out.’ ”

In the post, Hanu revealed how Sir Branson’s influence on his life dated back to his childhood days when he read the British billionaire’s book, “Losing My Virginity”, and how the story of Branson’s mother selling her necklace to fund his first business moved him to request that his own mother do the same.

“She did,” he shared.

During the visit, the two visionaries engaged in spirited chess matches, hikes around the majestic island, and deep, inspiring conversations about vision, purpose, failure, resilience, and the grit required to build in difficult times and challenging environments.

“We spoke not just about fame or success, but about failure, grit, and staying true to the mission.

“Stories that aren’t in the books. Lessons that will stay with me for life,” he recalled.

According to Hanu, “we traded war stories about building things in hard places.

“He listened to mine: from selling candy at eight years old to launching Nigeria’s first crypto exchange at 21.

“He smiled and said, ‘You’ve got to write a book’. And I promised I would.”

The duo also discussed Nigeria, including Branson’s time operating Virgin Atlantic in the country.

The airline’s rapid growth, and his eventual exit due to ‘local challenges.’

“He still holds a deep affection for Nigeria,” Hanu noted.

According to him, “of course, we also talked about blockchain, crypto, and the future of finance in emerging markets, where opportunity and innovation collide”.

The unforgettable encounter ended on a wholesome note, with Hanu also spending time with Branson’s family, including his wife, son, and grandkids.

Hanu subsequently, shared on one of his social media pages that his encounter with the British billionaire was a great reminder that great things are often born from great challenges.

And that has strengthened his resolve to stay focused, aligned, and continue building the future through digital and technology innovation in Africa.

However, the biggest highlight of his time on the magnificent island was Sir Branson’s direct challenge to him as he was about leaving: “He called me aside one more time: ‘Promise me you’ll get that book out.’ ”

On Brandson’s challenge to write a book on his entrepreneur journey, Hanu said: “Let’s just say, when Sir Richard Branson asks you to write a book… you don’t say no.”

From selling candy on the streets of Lagos as a child, to becoming the spirited builder of Nigeria’s first crypto exchange at 21, to then being a guest of one of the world’s most accomplished entrepreneurs at his private British Virgin Islands home, it is safe to say that Hanu’s life story and leadership journey is about to get ever more inspiring for young Nigerians.

Prosper Okoye

The Aisha Achimugu Foundation (AAF), in collaboration with TASTH and Rachel Owan Enoh Foundations, at the weekend, trained over 50 young women in various vocational skills, and provided them with the necessary tools to start their businesses, in Abuja, FCT.

Dr. Kiema Ogunlana, AAF Programme Director, said the outreach marks a shift in programming approach, aiming for sustainability. “The beneficiaries are still vulnerable women; however, we are not just giving them palliatives. We are empowering them to be self-reliant, so they can, in turn, fend for themselves and their families.”

Ogunlana stated that the initiative would have an impact despite the growing quest among young Nigerians for quick and easy money, which she attributed to the decline of family value systems.

The Programme Director of AAF also noted: “Gone are the days when we put our hands to the plough. Now, we see people turning to nefarious activities in pursuit of quick money, a trend I attribute to the decline of family value systems.

“Yet, there is still dignity in labour—people don’t need to be swayed by social media trends. Everyone has a skill or talent.”

She explained: “We didn’t assign skills to the women beneficiaries. Instead, we offered them a range of options and encouraged them to choose one they’re passionate about. “With commitment and diligence in their training, they could earn two or three times more than the value of their starter kits, setting them on a path to growth.”

Furthermore, the Programme Director decried the shortfall of corporate organisations in implementing corporate social responsibility. “Most of the time, they claim to be giving back, but the impact is not visible.

“While some organisations have their own foundations, there is a need to collaborate with other NGOs within the communities they operate in to create meaningful change.

“This way, as they profit, the lives of the people can improve,” she added.

Ogunlana urged the government, and other Civil Society Organisations (CSOs) to accelerate actions and partnerships to reach more vulnerable Nigerians.

The outreach was part of the activities commemorating International Women’s Day 2025.

Speaking at the event, Rosemary Ebuta, Founder of TASH Foundation, emphasised the ripple effect of the empowerment programme.

Ebuta said: “We told the women earlier that they should learn as much as possible—not only to earn from it but also to become trainers and empower other women in their communities within the next three months.”

The Founder of TASH Foundation disclosed similar empowerment schemes would be held in all 36 states of the country, echoing the need for support from the government and other funders.

She added: “A man may have a noble initiative, but it takes the help of the entire community to bring it to fruition.”

The women, who participated in the training, benefited from skill sets, including training in Ankara bag and shoe making, lip gloss production, makeup artistry, as well as soap and Vaseline production.

In her remarks, Rachael Enoh, Chairperson of the Rachael Owan Enoh Foundation, noted that the empowerment programme empowerment programme comes at a critical time, given the widespread hardship affecting the country.

Enoh said: “Times are so tough that survival without work is nearly impossible. Even married women can no longer rely solely on their husbands without risking being perceived as burdens.”

She encouraged beneficiaries to see this initiative as a vital opportunity to learn and enhance their lives, assuring them that follow-ups would be conducted to monitor their progress and provide further support as needed.

Among the beneficiaries was National Youth Service Corps (NYSC) member Areu Hannah, who is training in makeup artistry.

Hannah stated: “The training is going well. I’m passionate about becoming a makeup artist. “I’ve been practicing at home, but I’ve struggled with blending properly, so I joined this programme to improve my skills.

“I hope to refine my techniques and eventually earn millions of Naira from this business.”

Mojisola Johnson, who is learnt Ankara fabric and bag making during the programme, expressed her excitement about being selected.

She said: “I’m grateful to the organisers.

“I chose to focus on Ankara bags because it has always been a passion of mine.

“I love that it represents an African brand and celebrates our culture.”

Funke Adebe, who is training in soap making, shared her experience, and said: “After this training, I believe God will help me start my own business.

“Soap is something people always need.”

Isola Moses | ����

Africa’s foremost Industrialist and President of the Dangote Industries Limited, Alhaji Aliko Dangote, has disclose his plan to build in Ogun State, a multi-billion-dollar Seaport, which will be the largest in Nigeria.

He also said two new lines with a capacity of 6.0 million metric tons per annum for the cement plant is being constructed at Itori

Addressing the Ogun State Executive Council, led by the Governor, Prince Dapo Abiodun during a courtesy visit, to the governor in his office at Oke-Mosan, Abeokuta, Dangote said he had decided to return and invest in Ogun State because of the Prince Dapo Abiodun administration’s vision and deliberate policies that focus on attracting investors, as well as the investor-friendly climate that exists in the state.

He said Ogun State is one of the most attractive investment destinations in Nigeria, positioning itself as the manufacturing ‘bedrock’ of Nigeria.

According to him:”We had earlier abandoned our vision of investing in the Olokola Free Trade Zone (OKFTZ), but because of your policies and investor-friendly environment, I want to say we are back and will work with the state government to return to Olokola, and plans are underway to construct the largest port in the country,” he pledged.

“I would especially like to commend, in a special way, my good friend and brother, Your Excellency, the governor of Ogun State, for your vision and deliberate policies that focus on attracting enterprises through immense support for the private sector, which is now attracting investors.

“Our factory at Itori was pulled down twice. When we started the second time, they not only demolished the factory but also the fence, so we left.

“But right now, because of His Excellency, our governor, Prince Dapo Abiodun, we are back. When you visit the factory, you will be surprised at what we have done.

Giving an update on the company’s ongoing projects in the state, Dangote said two new lines with a capacity of 6.0 million metric tons per annum for the cement plant is being constructed at Itori, while the 12 million metric tons per annum cement plant is also located at Ibeshe.

Upon completion, the Dangote assured, the total capacity of the company’s cement plants in the state would be in the neighborhood of 18 million metric tons per annum, making it the highest cement-producing state or region in Africa.

“With the contributions of other cement producers in the state, Ogun remains far ahead of other countries across Africa in terms of cement production,” he said.

Dangote Cement, according to the Dangote Group President, is the leading cement producer in Africa with a capacity of 52.0 million metric tons per annum across the African continent.

He added that 70 percent of the production is carried out in Nigeria, with the Obajana plant in Kogi State accounting for 16.25 million metric tonnes per annum, the largest in Africa.

He said investment in the manufacturing of the product has made the nation self-sufficient in cement, just as the country is now self-sufficient in fertilizer, with the surplus going to the export market, thus earning the nation the needed foreign exchange.

While noting that the company’s target is to make Nigeria self-sufficient in whatever it consumes, Alhaji Dangote informed that the company is currently meeting domestic demand for Premium Motor Spirit (PMS) from its 650,000 barrels per day refinery at Ibeju-Lekki, as well as refined aviation fuel and Liquefied Petroleum Gas (LPG).

Nigeria, he said, is a growing economy; hence the need for private companies to complement government efforts, assuring that his company would continue to demonstrate its belief in the nation and its people by making investments targeted at transforming the nation’s economy.

He appreciated traditional rulers and the people of Itori for their support and partnership, which enabled the smooth and speedy take-off of the cement plant, adding that the encouragement from the people of Yewaland had fostered smooth operations, assuring continued adherence to its Corporate Social Responsibilities to the host communities.

Responding, Governor Abiodun described the day the Dangote Petroleum Refinery groundbreaking was performed in Lagos as “the day of heartbreak for the sons and daughters of Ogun State as they watched helplessly on television,” saying it was an indication that the project had left Olokola.

He said: “I want to thank you for coming back to Ogun State, and also for your belief and trust in your country, Nigeria.

“I want to thank you for all that you have done, the number of people you have employed, and the impact you continue to make not just in this state, but in Nigeria as a whole.

“The way you selflessly continue to promote this country all over the world, we can’t thank you enough.

“Your life and story continue to be an inspiring narrative for all young men. You have excelled in everywhere you touch; you have the Midas touch.

“These are indeed giant strides. For us in Ogun State, we welcome your return to the state.

“Today is a historic day, March 17, 2025, the same March when you did the groundbreaking in Lagos for the refinery, and you are now coming back in the month of March to Ogun State.

“Not only have you chosen to complete Itori, but you have also chosen to come back and develop the biggest port in Nigeria. For this, I thank you.”

Abiodun emphasised that with the establishment of the Itori cement plant, proposed to produce six million metric tons of cement per annum, and the existing Ibeshe plant, producing 12 million metric tons, cement production in the state would total 18 million metric tonnes per annum, making it the largest cement producer in Nigeria and sub-Saharan Africa.

The Governor lauded the company for not shirking its Corporate Social Responsibilities to the host communities, just as it is currently constructing the Inter-change-Papalato-Ilaro Road, assuring that his administration is ready to work with the company for the good of the state and the nation as a whole.

Alhaji Dangote and his team later led the Governor to the New Cement Plant under construction at Itori.

The team was received by traditional rulers from host communities in Yewaland, led by Olu of Itori, Oba Abdulfatai Akorede Akamo who praised Alhaji Aliko for his patrotism as displayed in his many investments which have led massive job creation and communities development

The Governor and Alhaji Dangote entourage also inspected the ongoing Papalanto concrete paved road being constructed under the tax Credit scheme of the federal government.

Alexander Davis | ����

Dangote Coal Mines Limited and host communities in Benue State have sealed a landmark Community Development Agreement (CDA).

Dangote Group said the Benue State Government officials described the CDA as a ‘milestone.’

The Group, in a statement Thursday, February 27, 2025, noted the representatives of Dangote Coal and host communities would ensure the company perform social programmes to complement government efforts in the state.

Representative of the company, Nuhu Elujah, described the Agreement as a “breakthrough in our effort to touch lives,” explaining further that “today we have a document to guide us with regards the Abache Community.”

Elujah said the communities would see the company implement projects in education, roads, health and water infrastructure.

Speaking on the development also, Ms. Bimbo Adams, representative of the Minister of Solid Minerals Development, was quoted to have said: “It is a new era for peace and development. It is also a major milestone.”

Mrs. Adijetu Usman, who represented the Federal Ministry at the state level, and

Ward Head of Ugbokolo, Chief Emmanuel Ikom, applauded Dangote Coal Mines Limited for the implementation of various projects in all the three host communities in Okpokwu Local Government Area (LGA) of Benue State and urged the company not to relent on its efforts.

In his remarks, Mr. Sunday Onoko Aluh, a representative of the Abache community, appreciated the efforts of the company to make the signing of the CDA a reality, while promising that his community will co-exist peacefully with the management of the company to facilitate rapid development of the area.

Traditional leaders at the event commended Dangote Coal for its numerous interventions and social programmes.

The traditional leaders described the Agreement as win-win for all the parties.

Isola Moses | ����

Alhaji Aliko Dangote, President and Chief Executive of Dangote Industries Limited (DIL), has applauded Gen. Ibrahim Badamasi Babangida (Rtd.), former Head of State, also known as IBB, for implementing policies that liberated the private sector during his regime in Nigeria.

Dangote stated this Thursday, February 20, 2025, during the unveiling of a book entitled: “A Journey in Service”, Babangida’s autobiography.

���� reports the event also served as a fundraiser for the IBB Presidential Library.

Dangote, Africa’s wealthiest man, donated N8 billion to the IBB Presidential Library, which is to be paid at a rate of N2 billion annually over the four-year period allocated for the project’s completion.

The President/Chief Executive of DIL also pledged that if the project extends beyond this timeframe, he would continue to donate N2 billion annually until it is finished.

Dangote, who is the largest employer of labour after the Nigerian Government, commended Babangida for his transformative policies that encouraged Nigerian investors to play prominent roles in the economy.

He particularly highlighted the abolition of import licences, which helped stimulate domestic industries.

The conglomerate Thursday stated that the reforms, among others, has ensured that Nigeria now has more private sector involvement than any other country in Africa.

This shift, Dangote said, led to a contribution of 85 percent of the country’s Gross Domestic Product (GDP) from the private sector, while the government contributes 15 percent.

Dangote further said: “Your Excellency, I would like to express my sincere gratitude for all you have done for Nigeria.

“Many may not realise that you were the architect of the private sector in Nigeria. “Anyone in the private sector who has achieved prominence today owes it to you, as you provided us with the necessary licences.

“In the past, we used to struggle to obtain licences through intermediaries, including Indians.”

The foremost Nigerian entrepreneur and industrialist

as well recalled how Babangida administration’s policies facilitated the growth of Nigerian businesses, enabling them to thrive.

Dangote stated: “Your Excellency, in 1986, you abolished the requirements for import licences, and it was because of that decision that we were able to reach the highest levels of growth.

“I recall a day when you granted almost 30 of us banking licences. You also instructed five Nigerians to pay N1 million each for oil blocs.”

He noted: “Your Excellency, I could continue to list all the reforms you introduced that liberated the private sector, which is why Nigeria has more private sector involvement than any other country in Africa.

“It is only in Nigeria where government contribution to GDP is a mere 15%, with the remainder being driven by the private sector.”

The Chief Executive of Dangote Group also expressed hope that future Nigerian leaders would adopt similar policies for the betterment of the country.

“I want to thank you once again, and I am confident that future leaders will continue to follow your example, working closely with the private sector,” Dangote said.

On support for IBB Presidential Library project

Speaking on his contribution to the IBB Presidential Library project, Dangote said: “Your Excellency, based on what I have observed, I believe this project will require at least four years to complete.

“I would like to contribute N2 billion each year for the next four years, amounting to N8 billion in total.

“Should the project extend beyond four years, I will continue to contribute N2 billion annually.”

Other prominent Nigerians also pledged contributions to the library’s construction.

The Chief Launcher and Founder of BUA Group, Abdul Samad Rabiu, donated N5 billion, while the co-Chief Launcher and Founder of the TY Danjuma Foundation, Theophilus Yakubu Danjuma, donated N3 billion.

Former President Olusegun Obasanjo, who chaired the event, remarked that by writing his memoir, Babangida had not only contributed to making history but also to documenting it.

However, he cautioned the former military Head of State to expect varied reactions to the book, including the good, bad, and ugly ones.

In his remarks at the event, former President Goodluck Jonathan also praised Babangida for the launch of his memoir.

Jonathan stated that Nigeria’s history would be incomplete without the story of the former Head of State.

IBB: MKO Abiola ‘won 1993 Presidential Election’

During the book’s review, former Vice-President Yemi Osinbajo, SAN, quoted Babangida as saying that late  Moshood Kashimawo Olawale (MKO) Abiola, who contested the 1993 Presidential Election on the platform of the Social Democratic Party, won the election.

However, Babangida described the annulment of the election as the most difficult decision of his life, noted Osinbajo.

“There was no doubt in my mind; MKO Abiola won the election.

“He satisfied all the requirements,” Babangida was quoted as saying.

The former military leader noted that while the annulment of the election remained a defining moment in his career, he took solace in the fact that former President Muhammadu Buhari posthumously honoured Abiola with the Grand Commander of the Federal Republic title, a recognition reserved for Nigerian Presidents.

Alexander Davis | ����

Dangote Group, Pan-African conglomerate, has re-emphasised its commitment to sustainable practices in its operations across Nigeria.

The conglomerate stated this in regard to its partnership with the Kaduna Chamber of Commerce and Industry (KADCCIMA) at the ongoing 2025 Kaduna International Trade, in Kaduna State, Northern Nigeria.

Addressing reporters on the participation of the Group in the Fair, Mr. Anthony Chiejina, Group Chief Branding and Communication Officer of Dangote Industries Limited (DIL), said the company was irrevocably committed to sustainability because the well-being of the people is at the centre of its operations.

Dangote Group, in a statement, also noted the speakers at a Conference organised by the KADCCIMA at the fair thumbed up the investment activities of the company across sectors of the economy, and the need for government to deliberately put in place policies aimed at encouraging local entrepreneur.

Delivering his address as the Guest Speaker at the Conference, Dr. Umar Buba Bindir, former Secretary to Adamawa State Government,  advocated consistency in government policies in supporting initiatives, such as the establishment of Dangote Petroleum Refinery as a brand from Nigeria to blossom.

Dr. Bindir described Alhaji Aliko Dangote’s courage and commitment to the realisation of the project in Nigeria as “a Global Groundbreaker”.

He also stated: “Like I said during the presentation of my paper, government policies must be consistent in supporting the local entrepreneur, local production, and value addition to businesses to take Nigeria to the next level.

“It is incredible for Dangote to have put up such a refinery. It is a global groundbreaker and for him to sustain his effort, and for coming across to Nigerians as someone who is dogged enough to even challenge the cartel that we know in Oil and Gas is incredible.”

Bindir further said though Dangote Refinery is in a free trade zone, it is however, a business strategy by the foremost entrepreneur, who must have taken cognizance of its feasibility and realised the opportunities there.

The ex-Secretary to Adamawa State Government, an Agricultural Engineer, said Dangote has the capability to make an impact in Steel Development in the Country. “There is no country that has sprouted and unleashed its entrepreneurial energy in manufacturing that has not gone into Steel industry, and Dangote’s intervention in the sector would contribute to growth and development of the industry.

“I think he should go into the Steel industry because this Country with 250m people that require food, water, education, jobs for young people, infrastructure, export, particularly to African countries cannot be supported without a vibrant steel industry,” stated he.

Bindir said: “And as someone who is well-versed in industry, who can secure finances or investment in this area, and is internationally recognised in China, India, and other countries where this industry is highly developed, with the doggedness and endurance that he has demonstrated in oil and gas, the cartel, and inconsistent government policies.

I think it will be easier with the Steel industry, said Bindir.

Isola Moses | ����

Nigerian Billionaire Aliko Dangote has seen his wealth nearly double to $23.9 billion, according to Forbes, which ranks the foremost entrepreneur and industrialist as the wealthiest person in Africa, and 86th in the world.

It is recalled that Forbes ranked Alhaji Aliko Dangote, President/Chief Executive of Dangote Industries Limited (DIL) as the 144th richest person in the world in 2024 with $13.4 billion.

Forbes estimates Dangote’s net worth at $23.9 billion, primarily due to his 92.3 percent stake in Dangote Petroleum Refinery & Petrochemicals.

67-year-old Dangote is, once again, adjudged as one of the 100 top richest individuals worldwide, a position he has not held since 2018, according to the Forbes Real-Time Billionaires List.

Dangote Group, in a statement announcing this development Tuesday, February 18, 2025, said this development had placed Alhaji Dangote “significantly ahead of South African Johann Rupert, who is ranked 161st in the world with an estimated wealth of $14.4 billion and very far above Mike Adenuga, who is the second richest in Nigeria and 481, in the world, with a net worth of $6.8 billion.”

The statement noted that Dangote disrupted the government’s oil monopoly by constructing the largest petroleum refinery in Africa. After 11 years, a $23 billion investment, and numerous challenges, the Dangote Refinery began operations last year.

Located on a vast 6,200-acre site in the Lekki Free Zone, the refinery, at full capacity, will process a remarkable 650,000 barrels per day (b/d), making it the seventh-largest refinery in the world and the largest in Africa.

Additionally, the refinery’s adjacent petrochemical complex has an annual production capacity of 3 million metric tons of urea, making it Africa’s largest fertiliser producer.

The Dangote Refinery is already having a significant impact on global energy markets, the conglomerate stated.

Imports of petroleum into Nigeria are on track to reach an eight-year low, affecting European refiners that have traditionally sold to Nigeria, according to energy intelligence firm Vortexa.

Furthermore, Nigeria has become a net exporter of jet fuel, naphtha (a solvent used in varnishes, laundry soaps, and cleaning fluids), and fuel oil, according to S&P Global.

The company further said: “Dangote sees the refinery as part of a larger vision to transform Nigeria, one of the world’s largest crude oil producers, into a major producer of refined petroleum products.

“This would enable Nigeria to compete with European refineries and supply gasoline to Nigerian consumers.”

Dangote, in a recent interview with Forbes, also stated: “I want to provide a blueprint for industrialisation across Africa.

“We have to build our nation by ourselves.

“We have to build our continent by ourselves, not [rely on] foreign investment.”

According to DIL, he believes Africa has long been “a mere dumping ground for finished products,” and his refinery represents “a pivotal step in ensuring that Africa can refine its own crude oil, thereby creating wealth and prosperity for its vast population.”

Dangote said the refinery is the biggest risk of his life and without success, it would have affected him greatly.

Speaking about his decision to embark on the project, Dangote said: “It was the biggest risk of my life.

“If this didn’t work, I was dead.”

Zainab Usman, director of the Africa Programme at the Carnegie Endowment for International Peace, according to Forbes, said Nigerians see Dangote as a hero and a real industrialist transforming the country.

“He is seen in most parts of Nigeria as a hero. He is seen as a real industrialist who builds things,” she said.

A professor of African studies at the Soka University of America, Chika Ezeanya, also corroborated this view, noting that Dangote is meeting the needs of consumers on the continent.

“I think he’s believed staunchly in the fact that Nigerians need products that he has to offer,” he said while adding, “Governments can come and go, policies can be changed, but the needs of the Nigerian consumer will only grow and expand.”

Isola Moses | ����

The Federal Government has affirmed the Dangote Group’s pivotal role in the country’s push towards industrialisation, as the company took the centrestage at the ongoing Kaduna International Trade Fair (KITF), in Kaduna State, Northern Nigeria.

Dr. Dafang I. Sule, Acting Permanent Secretary in the Ministry of Industry, Trade and Investment (ITI), who represented President Bola Ahmed Tinubu and Dr. Jumoke Oduwole, Honourable Minister for Industry, Trade and Investment, thanked the company for “doing a good job” in Nigeria.

Dangote Group is one of the sponsors of the 46th Kaduna International Trade Fair, that President Tinubu declared open at the weekend.

The conglomerate, in a statement, noted the Nigerian Government’s accolade came on the heels of numerous commendations from stakeholders around the world.

Dr. Sule also informed participants that the Ministry has been partnering with Dangote Group to drive government policies and programmes, one of which is the Backward Integration Programme.

He also stated: “The quality of Dangote products is not in doubt and that is why people patronise them.

“You can see that the company is growing every day. I think it is doing a very good job.”

KADCCIMA: Dangote Group helping to drive Nigerian economy

The Kaduna Chamber of Commerce, Industry, Mines, and Agriculture (KADCCIMA) has acknowledged its partnership with the company.

KADCCIMA described the collaboration as the Unique Selling Point (USP) and major competitive advantage of the 46th Kaduna International Trade Fair.

Alhaji Usman Saulawa, Director-General of the Chamber, speaking with reporters, defined the Dangote Group as a conglomerate that is helping to drive the Nigerian economy.

According to him, the company has not only made a significant positive impact on the business community in Kaduna State but has also contributed immensely to the growth of both the Nigerian, and global economy.

He said no fewer than five countries are participating in the fair that has as its theme: Promoting Efficiency in Manufacturing, Trade, and Agriculture through Digital Transformation.

“Our selling point is the joint collaboration and full involvement of Kaduna State Government, Dangote Group and other companies,” Alhaji Saulawa said.

The Director-General hailed the symbiotic partnership between KADCCIMA and the Dangote Group, commending Aliko Dangote, the Group’s President, as an unwavering benefactor of Chamber.

He said through the consistent sponsorship and participation of its Strategic Business Units; the Dangote Group has supported economic development in the state, Saulawa stated.

Caption…….

A Staff of the Dangote Group Abdulrazak Sambajo Presenting Souvenirs to the Emir of Zazzau at the Ongoing 46th Kaduna International Trade Fair, in Kaduna State      Photo: DIL