General
Africa Needs Bold, Transformative Projects to Compete Globally—Dangote
By Modupe Gbadeyanka
Renowned industrialist, Mr Aliko Dangote, has charged African leaders and investors put in place bold and transformative projects capable of addressing the continent’s long-standing challenges in order to compete globally.
He said this when he hosted participants of the Global CEO Africa Programme from Lagos Business School and Strathmore Business School, Nairobi, after a tour of the Dangote Petroleum Refinery and Petrochemicals in Ibeju-Lekki, Lagos.
The president of the Dangote Industries Limited said African entrepreneurs, business leaders and wealthy individuals must begin to invest in the development of the continent, citing the successful construction of his oil facility as proof that nothing is impossible.
Mr Dangote reflected on the initial scepticism surrounding the refinery project, noting that despite numerous obstacles, the group remained steadfast in its commitment to delivering on its vision.
“There will always be challenges. In fact, life without challenges isn’t exciting. You just hope for the kind of challenges you can overcome—not the ones that overwhelm you,” he remarked, explaining that completing the refinery has emboldened the group to pursue even more ambitious goals.
“Now that we’ve built this refinery, we believe we can do anything. We aim to make our fertiliser company the largest in the world—and we’ve set ourselves a 40-month timeline,” he stated.
Mr Dangote highlighted Africa’s wealth in both human and natural resources, stressing that business leaders are in a privileged position to harness these assets and create jobs for the continent’s growing population. He stated that development cannot be left to governments alone, urging the private sector to trust in national leadership and invest at home instead of moving capital abroad.
“We, as Africans, must stop taking our money abroad. We should invest it here to build our countries and the continent. As for me, I don’t take my money out of Africa. If we don’t show confidence in our own economies and leadership, foreign investors certainly won’t. After all, we know our leaders better than anyone else. That money being taken out of the continent should be left here, where it can benefit everyone,” he advised.
While many African nations have achieved political independence, Mr Dangote argued that they remain economically dependent. He cited countries like Dubai and Singapore, which were on par with some African countries in the 1970s but have surged ahead through deliberate policies and partnerships with visionary entrepreneurs.
The businessman expressed concern about the disparity between Africa’s rapidly growing population and the limited job opportunities available. He called for a strong banking sector, a robust manufacturing base, and a thriving agricultural sector as cornerstones of the continent’s transformation.
He also stressed the importance of improved interconnectivity among African nations, revealing that it is currently cheaper to import goods from Spain than to transport cement clinker from Nigeria to neighbouring Ghana.
Acknowledging policy inconsistency and infrastructural challenges, Mr Dangote encouraged the visiting CEOs not to be deterred but to remain ambitious while acquiring deep knowledge of their respective industries.
“If you think small, you don’t grow. If you think big, you grow. It’s better to try and fail than never to try at all,” he advised the 24 CEOs in attendance from six African countries.
The Academic Director of the Global CEO Africa Programme at Lagos Business School, Mr Patrick Akinwuntan, explained that the initiative is designed to inspire Africa’s future business leaders.
The programme, in partnership with Strathmore Business School in Nairobi, comprises three modules, requiring participants to spend a week each in Nairobi (Kenya), Lagos (Nigeria), and New Haven (USA).
“The goal is to nurture business leaders who see Africa as a single market—one without borders—focused on the continent’s vast potential. The refinery is a powerful symbol that vision goes beyond mere sight,” he said.
Mr Akinwuntan, who is also the former Managing Director of Ecobank Nigeria, praised Mr Dangote for his integrity, competence, and boldness in bringing such a monumental project to fruition.
The Executive Dean of Strathmore Business School, Dr Caesar Mwangi, echoed these sentiments, saying the visit will inspire CEOs to realise that only Africans can truly develop the continent.
“This refinery is the world’s largest single-train refinery. It’s proof that we must dream big, think big, and—most importantly—act. If the Dangote Group can achieve this, then so can others across the continent,” Mr Mwangi said.
“Every CEO here can take this inspiration back home and initiate impactful projects that will uplift our continent and create opportunities for the millions of young Africans who need them,” he added.
The Dean of Lagos Business School, Prof Olayinka David-West, stated that the visit aligned with the school’s mission of grooming leaders capable of addressing Africa’s complex social and institutional challenges.
She lauded Dangote as a visionary leader who mobilises resources to confront the continent’s critical problems. She noted that the refinery’s ripple effect extends beyond petroleum production, enhancing livelihoods and national wellbeing.
“This facility is pivotal. It serves as a practical tool to implement frameworks like the African Continental Free Trade Area (AfCFTA). While it’s one project, its effects will be felt across multiple sectors,” she explained.
The chief executive of Nigeria’s Financial Reporting Council, Mr Rabiu Olowo, and a participant in the programme, said the visit had reignited the need for bold and courageous thinking in pursuing sustainable national development.
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
By Modupe Gbadeyanka
Local crude oil refiner, Dangote Petroleum Refinery, has kicked against attempts to put consumers of premium motor spirit (PMS), otherwise known as petrol, under untold hardship in the country.
The company, which commenced nationwide sales of the product at a pump price of N739 per litre across all MRS Oil Nigeria Plc filling stations, appealed to Nigerians to report any of its marketers who sell above this price.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable.
“We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the Lagos-based refinery said in a statement.
It noted that the significant price reduction was part of its mission to deliver affordable fuel to consumers and stabilize the downstream petroleum market.
With over 2,000 MRS stations nationwide, the new pricing is expected to be implemented across all outlets, ensuring that the benefits of this reduction reach consumers nationwide.
Dangote Refinery applauded marketers who have embraced the new pricing regime and urged others to follow suit in the interest of national economic recovery.
“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the refinery stated.
Historically, the festive season has been associated with fuel scarcity and sharp price hikes. However, Dangote Refinery has delivered a decisive market intervention—crashing pump prices at a time when Nigerians typically brace for hardship. Backed by a guaranteed daily supply of 50 million litres, this initiative fundamentally alters the supply dynamics during the holiday period.
By refining locally at scale, the refinery is reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange, stabilizing the Naira, and strengthening energy security. This sustained price cut and steady supply are providing relief to households, businesses, and transport operators nationwide.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
“We encourage Nigerians to avoid buying PMS at excessively high prices when they can access locally refined fuel at N739 per litre from over 2,000 MRS stations nationwide. Report any MRS station selling above N739 per litre by calling 0800 123 5264,” the refinery said.
“We also call on other petrol station operators to patronize our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market,” it added, reaffirming its commitment to steady supply, price moderation, and energy security, emphasizing that its operations are anchored on long-term national interest rather than short-term market pressures.
“Our objective remains clear: to ensure consistent supply of high-quality petroleum products at affordable prices for Nigerians, while supporting economic stability and reducing dependence on imports,” the refinery concluded.
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