Economy
Dangote Begins Sale of Cement on Jumia
By Dipo Olowookere
In a new move designed to reduce price and ease logistics inherent in the purchase of its products, the management of Dangote Cement Plc has signed a pact with the foremost e-commerce platform, Jumia Nigeria, to offer for sale its cement to customers online.
At the unveiling of the deal in Lagos, Dangote Cement, Key Account Director, Mr Chux Mogbolu said Dangote Cement was happy to partner with online shopping giant, in a bid to make Dangote cement available with ease to customers.
According to the deal, Nigerians and corporate bodies wishing to purchase a minimum of 300 bags of 50kg of Dangote Cement and above can now order on Jumia from the comfort of their rooms at a reasonable price of N2,500 per bag as opposed to how much is sold in the open market and see them delivered to any place of their choice without any extra cost for transportation.
Mr Mogbolu, however disclosed that the purchase would only be within Lagos, Port- Harcourt and Abuja for now.
He said, “Dangote Cement decided to work with Jumia Nigeria based on its credibility and excellent performance over the years in online shopping management”, adding that the new initiative would help arrest the scams perpetrated by online fraudsters who deceived the people by asking them to come and purchase Dangote Cement for N1000 per bag.
“For now, the pilot scheme is live in Lagos, Abuja and Port Harcourt, but we can extend to other cities depending on the level of demand and performance of the new deal,” he added.
“With the deal, Nigerians in need of seamless supply of cement from Dangote can now place order and pay online and wait for the delivery in record time from any of Dangote’s nearest cement plant to Lagos, Port Harcourt or Abuja.
“We are starting with Minimum Order Quantity (MOQ) of 300, 600 and 900. We may increase depending on demand surge as time goes on,” Mr Mogbolu explained.
Speaking on the deal too, Chief Executive Officer of Jumia Nigeria, Juliet Anammah said the deal with Dangote Cement is part of efforts to deepen service delivery on Jumia Nigeria online platform.
She said she was of the belief that the deal will be beneficial to all parties involved and deepen further online shopping in Nigeria as obtained all over the world.
The Jumia Nigeria boss reflected on the 2017 Black Friday Festival ran by her organization and said the Festival has attracted more than 14 million visits since the commencement of the campaign on November 13th.
According to her, “the annual sales event, which was initiated in Nigeria in 2013 by Jumia remains the busiest and largest shopping day of the year on both online and offline stores. This year’s explosive Black Friday numbers demonstrates the increasing capacity and flexibility of the online retail space in Nigeria.”
“We deliver to the 36 states across Nigeria, and are able to reach neighborhoods and shoppers who traditionally have not had access to a wide variety of products and deals. This year we also see the increasing interest in groceries and other FMCG products which reflect the increasing relevance of Black Friday to the average Nigerian.”
Some key highlights of the 2017 figures presented by Jumia Nigeria in Lagos on Thursday showed among other things more than 1.9 million visits on Black Friday Big Bang. 14.4 million visits since the start of the sales event; Overall, 85% of all visits were made on a mobile device, compared to 72% in 2016; and 86,000 smartphones and counting have been sold in the past two weeks.
By Aduragbemi Omiyale
Shares of First Holdco Plc worth N45.0 billion issued through a private placement have been listed on the Nigerian Exchange (NGX) Limited.
A circular issued by the Head of Issuer Regulation Department of the NGX Regulation Limited, Mr Godstime Iwenekhai, disclosed that the equities were admitted for trading at the stock market on Monday.
According to the notice, the additional shares brought for listing to rank pari passu with existing shares of the organisation were 1,021,334,544 units.
These stocks were sold to one of the company’s major shareholders at a unit price of N44.06, amounting to N45.0 billion.
The total issued and fully paid-up shares of First Holdco, as a result of this listing, are now 45,475,027,677 ordinary shares of 50 Kobo each.
“Trading licence holders are hereby notified that an additional 1,021,334,544 ordinary shares of 50 Kobo each of First Holdco Plc were on Monday, June 22, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares listed on NGX arose from the company’s private placement of 1,021,334,544 ordinary shares of 50 Kobo each at N44.06 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of First Holdco Plc have now increased to 45,475,027,677 ordinary shares of 50 Kobo each from 44,453,693,133 ordinary shares of 50 Kobo each,” the disclosure stated.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved fresh import licences for petrol and diesel for the third quarter of 2026 (July – September) to prevent potential supply shortages in the domestic market.
According to a report by global energy intelligence firm, Argus Media, the latest approvals were issued to major downstream operators amid declining fuel stock levels and concerns over reduced petrol production at the 700,000 barrels per day Dangote Petroleum Refinery in Lagos.
The move comes as Nigeria continues to balance increasing local refining capacity with the need to guarantee adequate supplies of petroleum products across the country.
According to the Argus report, domestic firms, including AA Rano, AYM Shafa, Bono Energy, Nipco, Matrix Energy and Pinnacle Oil, received permits to import Premium Motor Spirit, popularly known as petrol, during the July-September period.
The publication further reported that the same companies, with the exception of Nipco, were granted approvals to import Automotive Gas Oil, commonly known as diesel. The fresh approvals follow an earlier batch of petrol import permits issued by the regulator in May, covering about 720,000 metric tonnes.
Quoting a regulatory source, Argus noted that many of the companies granted the latest approvals were among those that had received permits in previous rounds. “These are some of the same ones that previously received the PMS permits,” the source was quoted as saying.
It was also claimed that AA Rano and Matrix Energy each received approvals to import 180,000 metric tonnes of petrol. AYM Shafa received approval for 120,000 metric tonnes, while Pinnacle Oil received a permit covering 150,000 metric tonnes.
For diesel imports, Argus reported that AYM Shafa obtained a permit for 60,000 metric tonnes, while Pinnacle secured approval for 45,000 metric tonnes. The report stated that the import approvals were issued only recently, after being delayed from an initial target date of June 15.
By Adedapo Adesanya
Three securities weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.01 per cent on Tuesday, June 23, dragging the market capitalisation down by N25.91 billion to N2.544 trillion from Monday’s N2.570 trillion. Also, the NASD Security Index (NSI) decreased by 43.17 points to 4,239.34 points from 4,282.51 points.
The triplet price losers were Central Securities Clearing System (CSCS) Plc, which gave up N4.82 to trade at N75.00 per unit versus Monday’s closing price of N79.82 per unit. NASD Plc depreciated by N3.70 to close at N33.30 per share compared with the preceding day’s N37.00 per share, and Nitrox Industrial Gases Plc marginally lost 1 Kobo to sell at N21.41 per unit, in contrast to the previous session’s N21.42 per unit.
Tuesday’s trading data showed that the volume of securities traded by investors retreated by 35.9 per cent to 211,671 units from 330,034 units, and the value of securities fell by 82.9 per cent to N5.6 million from N32.7 million, while the number of deals doubled to 38 deals from 19 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 68.1 million units transacted for N4.7 billion.
GNI Plc also closed the trading day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
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