Economy
Dangote Targets $30bn Revenue by 2016 from Urea Exports, Others
By Adedapo Adesanya
Nigerian billionaire entrepreneur, Mr Aliko Dangote, says he expects revenues from Dangote Group to grow more than $30 billion next year from about $25 billion projected in 2025 amid current trade uncertainties.
He made this disclosure on Thursday at an investment conference in Lagos, acknowledging the positive impact President Donald Trump’s tariffs would have on his urea exports to the US because major competitor Algeria had been slapped with a higher levy.
President Trump imposed a 14 per cent tariff on imports from Nigeria, Africa’s largest oil exporter, as part of widespread trade measures introduced last month, later paused for 90 days.
Comparatively, Algeria was subjected to a 30 per cent reciprocal tariff on its exports to the United States under President Trump’s Liberation Day tariff policy announced on April 2, 2025.
“But when I checked who we are really competing with, we are competing with Algeria. So, luckily for us Algeria were slapped with 30 per cent,” said Mr Dangote, adding that, “It actually makes us a bit comfortable.”
The tariff measure was part of a broader strategy to address perceived unfair trade practices by imposing higher tariffs on countries without formal trade agreements with the US.
President Trump’s tariffs spared oil and gas exports, allowing the Dangote Petroleum Refinery to continue selling its products to the US without disruption. This exemption provides a significant cushion for Mr Dangote’s broader business strategy, especially as the refinery ramps up output.
Mr Dangote also said that Dangote Fertiliser, which began commercial operations in 2022, shipped 37 per cent of its 3 million metric tonnes of urea production to the US.
Beyond the US, Dangote also exports urea to other key markets such as Brazil, which has historically relied on Russian fertilizer supplies, as well as India and Mexico.
Mr Dangote added that he expects his cement company to become Africa’s largest exporter next year, overtaking Egypt in the process.
“We are at about 53 million tons,” Mr Dangote said in reference to the production capacity of his plants. “By next year, we will be at 62 million tons of cement. We will be number one.”
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn