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Dangote unveils expansion plan, says Nigeria’s industrialism top priority

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Dangote Group has unveiled its expansion plans and promised to work towards full industrialization and development of Nigeria.

Mrs Fatima Aliko-Dangote, the Group Executive Director, Commercial Operations, made this known at the ongoing 2025 Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI) on Wednesday

She was represented by Mrs Funmi Sanni, Group Head, Sales and Marketing, Dangote Cement Plc.

Aliko-Dangote described industrialisation as the most viable path to value addition, economic diversification, and large-scale job creation for the nation’s youth.

She also revealed the company’s plan to expand Dangote Petroleum Refinery’s capacity from 650,000 barrel per day to 1.4mn per day by 2028.

She noted that the theme of the ongoing trade fair: ” Connecting Businesses, Creating Value”, was both timely and highly appropriate.

According to her, it encapsulates the chamber’s strategic vision of bringing together many stakeholders, manufacturers, suppliers, distributors and consumers in the same location.

Aliko-Dangote said the group as Africa’s leading indigenous conglomerate, was connected to several businesses across the world and consistently creating values.

She said its investment philosophy is that only Africans can develop Africa.

“This is why we have invested in many African countries.

“Recently, we had the historic groundbreaking ceremony of the $2.5 billion, three million metric tonne Urea Fertiliser Production Complex, in Gode, Ethiopia.

“This new plant is a partnership between the Dangote Group and Ethiopian Investment Holdings (EIH), the strategic investment arm of the Government of Ethiopia.

“The project at completion will generate thousands of direct and indirect jobs in the country while at the same time boosting agricultural output,” she said.

Aliko-Dangote added that the group had commenced the expansion of Dangote Cement Plant in Ethiopia with a $400 million investment plan for a second production line at the cement plant.

She said its 3Mta Côte d’Ivoire grinding plant started operations in the third quarter, marking another major step in Dangote Cement’s growth journey, increasing our total installed capacity to 55Mta across Africa.

“This milestone reinforces our commitment to regional self-reliance and strengthens our position as the continent’s leading cement producer.

“We have started construction of a new 6Mta integrated cement plant in Itori Ogun state, a facility that would be dedicated for export to neighbouring countries,” she said.

Aliko-Dangote said in Nigeria, the group was expanding Dangote Petroleum Refinery’s capacity from 650,000 barrel per day to 1.4mn per day by 2028.

She stated that Dangote Fertiliser Ltd., and Dangote Polypropylene, Dangote Sugar Refinery and NASCON Allied Industries Plc (Dangote Salt) were leading players in their sectors.

She affirmed the commitment of Dangote Sugar to ensuring that Nigeria ends the importation of raw sugar by actively intensifying its execution of the Sugar Backward Integration.

“In this regard, it has committed over $700 million in land acquisition, machinery, infrastructure, manpower, community relations, corporate social responsibility and other impactful activities,” she said.

Addressing the trade fair, Aliko-Dangote expressed her expectations, hoping that through the fair, the company would be able to expand awareness of its innovative products and generate sales.

She said the fair would provide the opportunity to improve the image of brands and open new markets that would further translate to job creation and overall economic development.

The Chief Executive Officer, Dangote Sugar Refinery Plc, Mr Ravindra Singhvi, unveiled two new categories of Dangote Sugar pack.

Singhvi acknowledged the immense growth of the Dangote Group companies, highlighting its position as the largest in Africa and a significant player globally.

Looking to the future, he announced ambitious plans for two major projects, which would focus on producing sugar from Nigeria, by Nigerians, and for Nigerians.

According to him, these initiatives are set to significantly enhance the company’s capabilities and better meet market demands.

“Currently, the company offers 50kg bags—both fortified and unfortified—for various consumer segments.

“In response to changing consumer preferences and market dynamics, two new packages are being launched: 25 kg bags and 100-gram bags,” he said.

Singhvi said the introduction of the 25kg bag was a strategic move to aid distributors and consumers who often had to divide larger bags for retail purposes.

He stated that by offering this more manageable size, the company aimed to streamline the purchasing process for corporate customers and others, ensuring they can buy a fresh product without additional costs.

Mr Gabriel Idahosa, President, LCCI, said to navigate the complexities of a rapidly evolving global economy, the role of visionary industrial leadership was crucial.

Idahosa said the leadership of Dangote Group had demonstrated industrial prowess by investing where others were hesitant.

He described the birth of Dangote Refinery as a clear demonstration of an industrialist utterly passionate about the country and willing to support various areas of impact.

“With the Dangote Refinery having a confirmed capacity to meet the local demand in Nigeria, the Nigerian economic outlook looks bright.

“The LCCI remained committed to fostering partnerships, promoting policy advocacy, and creating platforms that enabled businesses and industries to thrive,” he said.

 

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FCT Minister sacks Revenue Service boss

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Myesom Wike, the Minister of the Federal Capital Territory, FCT, has sacked the Acting Executive Chairman of the Federal Capital Territory Internal Revenue Service, FCT-IRS, Mr Michael Ango, of his duties.

The announcement was contained in a statement late Friday by the minister’s Senior Special Assistant on Public Communications and Social Media, Lere Olayinka.

The statement added that the decision takes immediate effect.

Olayinka said the minister directed the most senior official of the FCT-IRS to immediately assume leadership of the agency

“The Minister of the Federal Capital Territory, Nyesom Wike, has sacked the Acting Executive Chairman of the Federal Capital Territory Internal Revenue Service, Mr Michael Ango,” he stated.

He added that “the most senior official of the FCT-IRS has been directed to take over the running of the revenue agency with immediate effect.”

The statement did not provide reasons for the removal.

 

 

 

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Speaker, 14 other River State assembly members decamp to APC

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15 members of the Rivers State House of Assembly, led by Speaker Martin Amaewhule, have left the Peoples Democratic Party, PDP, for the All Progressives Congress, APC.

Amaewhule disclosed the lawmakers’ decision during Friday’s plenary, attributing their defection to what he called a “clear division” within the PDP.

“Distinguished colleagues, very happily, let me announce that your Speaker has decided, and has indeed written to my ward chairman of my decision, to leave the PDP. APC is my new party,” Amaewhule said.

Amaewhule’s Deputy, Dumle Maol, is one of the 16 lawmakers that joined APC as well.

All the lawmakers, who have jumped ship, are core loyalists of the Minister of the Federal Capital Territory, FCT, Chief Nyesom Wike.

 

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CBN rolls out new directives to track financial fraud

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The Central Bank of Nigeria,has rolled out a new framework ito expedite handling of fraud accusations and refund victims.

Customers must report suspected fraudulent transactions within 72 hours under this draft guideline, and financial institutions have 16 working days to look into the matter and repay money.

The action comes in the wake of a dramatic increase in banking sector fraud.

According to data from the Financial Institutions Training Center, losses in the first quarter of 2025 increased to ₦3.29 billion, a startling 603 percent increase over the previous year. In the same time frame, reported cases also increased to 12,347.

The November 26, 2025, proposed regulations seek to improve bank accountability, expedite reimbursements, and boost prevention.

Director of the Financial Policy and Regulation Department Rita Sike signed the circular, which describes stricter regulations intended to prevent fraud before it occurs.

The apex bank’s ongoing fight against financial fraud has advanced with the adoption of this guidance. To enhance cooperation between operators, it established the Nigeria Electronic Fraud Forum in 2011.

It directed banks to establish specialized fraud bureaus four years later. By requiring BVN or NIN for account opening, it reinforced Know Your Customer checks in 2023.

 

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