General
Dangote Urges African Business Leaders to Drive Transformation
By Adedapo Adesanya
The president of Dangote Group, Mr Aliko Dangote, has called on African business leaders to take the lead in transforming the continent.
According to a statement, the billionaire mogul made this stance while speaking at the just concluded African Renaissance Retreat held in Kigali, Rwanda.
Mr Dangote pointed out that despite significant challenges besetting Africa, its youthful population and abundant resources, including about 30 per cent of the world’s mineral reserves and the largest reserves of gold, cobalt, uranium, platinum, and diamonds, offer opportunities for substantial and inclusive growth.
The retreat was a high-level gathering to discuss issues and align development with the foremost entrepreneurs on the continent and the leaders of the largest pan-African companies including President Paul Kagame of Rwanda, former President Olusegun Obasanjo, former President Ellen Johnson Sirleaf, and former Prime Minister Hailemariam Dessalegn among others.
Mr Dangote, who initiated the retreat, noted that he had long contemplated bringing together a group of dedicated African business leaders to address the continent’s challenges, identify concrete solutions, and showcase Africa as a viable investment destination despite its obstacles.
“We have 65 per cent of the world’s arable land and 10 per cent of the planet’s internal renewable freshwater sources. Together, these present a myriad of opportunities for robust, inclusive growth that harness our abundant human potential and natural resources to increase prosperity, not just in Africa but across the globe,” he said.
Mr Dangote added that Africa is at a crucial inflexion point, with the world’s youngest and fastest-growing population, rapidly expanding cities, and a growing embrace of innovation and new technologies, including Artificial Intelligence.
He noted that despite dealing with multiple barriers such as visas, inconsistent change in government policies, inadequate technical talent, lack of critical infrastructure, foreign exchange crises, inflation, cost of capital and other conflicts of differing dimensions, the Dangote Group has expanded from Nigeria to 14 countries across the continent, spanning multiple sectors from cement to fertilizers, sugar to oil refineries, petrochemicals, agriculture and more.
“The good news is that despite these challenges, we have succeeded in building a pan-African Group that employs over 50,000 people and generates revenues that should exceed $30 billion by the end of 2025,” he said.
He emphasized that the objective of the retreat was to offer an opportunity for collective action in tackling various issues, including persistent conflicts, energy and food security, supply chain disruptions, the debt crisis, and access to long-term concessional funding for development.
“We are coming together not just as leaders in our respective institutions but as visionaries and catalysts for transforming our societies. It is our collective responsibility to play our role in transforming our continent. Nobody will do it for us but us – especially us in this room,” he noted.
He also cautioned that it is crucial for the leaders present to move beyond dialogue to decisive implementation and tangible impact.
Other participants at the retreat, which took place from September 6 to 8, included Ms Amina J. Mohammed, Deputy Secretary-General of the United Nations; Mr Benedict Oramah, President and Chairman of the Board of Directors of the African Export-Import Bank; former Liberian President, Mrs Ellen Johnson Sirleaf; Mr Adebayo Ogunlesi, Chairperson of Global Infrastructure Partners; former Ethiopian Prime Minister, Mr Hailemariam Dessalegn, Mrs Samaila Zubairu of the African Finance Corporation, Mr Makhtar Diop of IFC, and Mr Jeremy Awori, CEO of Ecobank Transnational Incorporated.
By Aduragbemi Omiyale
The chief executive of the Nigerian Exchange (NGX) Group Plc, Mr Temi Popoola, has called for people-centric leadership, stressing this is the only way to navigate the multifaceted challenges of a globalized world.
He made this submission at the Taj Lands End Leadership Summit in Mumbai, India through his thought-provoking keynote address.
“Leadership is not just about the boardroom; it is about showing up authentically in every aspect of life,” Mr Popoola stated at the event themed Authenticity, Leadership, and Hope for the Future, reflecting on the vital role of spirituality and lifelong learning, crediting these pillars for providing strength and resilience during periods of uncertainty.
The summit provided a platform for the Nigerian business leader to share a narrative that was equal parts personal and strategic.
The views of the NGX Group chief reflected his diverse life journey, which spans an upbringing in the United Kingdom and Nigeria, a robust academic foundation in chemical engineering and finance, and a career marked by leadership excellence across continents and sectors.
He highlighted how these experiences shaped his global perspective and ability to drive innovation within complex organizational structures.
According to him, leaders must embrace self-awareness and empathy to build cohesive teams capable of delivering exceptional outcomes.
As the leader of one of Africa’s most prominent stock exchanges, he underscored that the strategic act of hiring and retaining the right talent and fostering a culture of collaboration is pivotal for long-term success.
Drawing from his experiences, he shared how challenges in leadership have been mitigated through lessons learned from mentors and the wisdom found in books, both of which continue to shape his decision-making process.
However, Mr Popoola expressed optimism for the future, particularly in developing nations like India and Nigeria, describing the youth in these regions as untapped reservoirs of innovation and growth, urging leaders to strategically invest in their development to unlock transformative potential.
He further articulated a clear vision for leadership that resonates across industries and geographies. He called on leaders to prioritize authenticity, champion continuous learning, and harness the power of human capital to address both immediate challenges and future opportunities.
His address was not only a call to action but also a strategic framework for navigating the evolving dynamics of global leadership.
By Adedapo Adesanya
Nigeria’s Vice President, Mr Kashim Shettima, has said between 40 and 70 per cent of Nigerians still lack formal access to electricity, underscoring the urgent need for reform in the nation’s power sector.
Mr Shettima worried that the power sector crisis is crucial for Nigeria’s economic development and industrialization, noting that countries like Indonesia, India, and South Africa, have overcome energy insufficiency and were now leading in economic advancement.
Speaking at the inauguration of the National Economic Council (NEC) Ad Hoc Committee on National Electrification at the Presidential Villa in Abuja, he urged leaders in the country to rise above differences to confront the power sector crisis and become part of the reincarnation of Nigeria as an industrialized nation.
The Vice President said there is no way Nigeria could dream of meaningful national economic development without addressing the power sector crisis and ensuring Nigerians have access to electricity and other affordable energy.
“An estimated 40-70 per cent of Nigerians have no formal access to electricity. There is no doubt that we cannot dream of meaningful national economic development without addressing the issue in the power sector and ensuring that Nigerians have accessible, available and affordable energy,” he stated, acknowledging the basic challenges in the nation’s power sector, especially the national grid which has been witnessing system collapse.
The VP, however, expressed hope that there will soon be significant improvement following the recent reforms in the energy sector which have opened the sector, “not only to the participation of, otherwise, excluded players, but also to attract investments, both foreign and local.
“I believe we are well endowed with resources, be it gas, hydro or solar, that allow us to have an optimal energy mix and leverage these resources to build a sector in a resilient manner that ensures energy security for every Nigerian,” he added.
The Vice President urged members of the National Electrification ad hoc committee to come on board and work for the nation.
“I wish you the best as you embark on this critical assignment, and I want to assure you of my availability as you discharge this onerous assignment. With this, I hereby inaugurate the NEC ad hoc committee on National Electrification Strategy and Implementation Plan,” Mr Shettima said.
On his part, the Chairman of the NEC Ad Hoc committee on National Electrification and Cross River State Governor, Mr Bassey Edet Otu, noted that the Vice President has empanelled the committee with four terms of reference to change the ugly history of incessant national grid collapse in the country, revealing that their next task is to get down to work, and do so assiduously until they produce credible, achievable and sustainable results.
“In the command list, one is to put an end to consistent grid collapse in the energy sector and to work towards deepening states’ engagement within the Electricity Reform Act 2023 to address the challenges in the power sector to the best expectation of Nigerians and the National Electrification Strategy and Implementation Plan.
“These tasks are tall but looking at the members of the committee, we are individually and collectively taller, especially in our avowed commitment to the Renewed Hope Agenda of Mr. President and the golden ethos of nation-building,” he said.
By Dipo Olowookere
Manufacturers of sachet water, popularly known as pure water, have increased the price of a bag of the product by about 67 per cent in Lagos.
Business Post gathered that a bag containing 20 sachets of water, which usually sells for N300, is now being sold for N500.
This newspaper learned that the sachet water producers raised the price as a result of the rising production costs.
To enforce this new price hike, they embarked on a strike, making the product scare and imposing fines on members who were caught selling to the customers.
As a result of the new development, retailers now sell sachet water for N50 each and three for N100.
In 2015, this product was sold for N5 but due to rising inflation and high cost of production, the price has risen by 900 per cent in less than a decade.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking6 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN