Economy
Ogun Government Calls Dangote Cement Worthy Partner
By Aduragbemi Omiyale
Dangote Cement Plc has been described by the Ogun State government as a worthy partner due to its efforts to complement the state’s poverty alleviation programmes.
The company received this commendation at the graduation of 305 youths from the 17 host communities of the Ibese plant of Dangote Cement recently.
The beneficiaries underwent training and were empowered with start-up packs to enable them to start a meaningful business after completing their skills acquisition programme, courtesy of the cement firm.
The Commissioner for Youths and Sports Development in Ogun State, Mr Wasiu Isiaka, confessed that the partnership programmes of Dangote Cement have helped the state government tremendously in the area of poverty alleviation and job creation.
He, however, challenged Dangote Cement to sustain the trend by helping to ensure it creates markets for the products the youth beneficiaries would be churning out, noting that when there is a market for the products, the beneficiaries will be encouraged to double their efforts.
The Commissioner assured that the state government would be ready to assist in whatever is required to foster joint development of the state by empowering its people, especially the youths.
Mr Isiaka advised the company to ensure the diversification of its empowerment programme so that different skills can be acquired by the youths in various fields of vocation and in turn teach others.
He urged the youths and other stakeholders in the host communities to reciprocate the gesture of the Dangote Cement, Ibese by making peace and tranquillity their priority.
Speaking at the event, the Acting Plant Director of the Ibese Cement Plant, Mr Michael Johnson, described the conclusion of the skills acquisition programme as another testament to Dangote Cement’s commitment to the socio-economic development of its host communities and their people.
“Our focus is to support the indigenous people to become self-sustaining by delivering and sustaining values that are pivotal to their overall growth and development,” he said.
He explained that the beneficiaries are “being provided with multi-million Naira start-up packs comprising SR-810 Professional Single Needle Post-bed Heavy-lock Stick Shoe Patch sewing machine, Master Flex MF-2008BG Shoe filling machine and other accessories like scissors, hammer & sewing needle.”
The Plant Director also urged the beneficiaries to make good use of the opportunity to set up their businesses, grow them and become employers of labour by hitting the ground running immediately, saying a journey of a thousand miles starts with a step.
“Be bold and courageous to start your journey to greatness now! We live in a technology-driven world, which the advent of Artificial Intelligence (AI) has taken to another level.
“Hence, you need to remain focused and be conversant with the latest developments in your areas of specialization by embracing technology to remain relevant and competitive,” he said.
Responding on behalf of the beneficiaries, 21-year-old Olowookere Sadiq Opeyemi from Abule-Oke Community thanked Dangote Cement for the initiative.
“What Dangote Cement has done for us is unquantifiable. They have lessened the burden off our parents and the society at large will be better for it. With this, Dangote Cement, Ibese has proven that they are not just corporate citizen but a socially responsible corporate citizen,” he stated.
By Adedapo Adesanya
The federal government has imposed an immediate nationwide ban on the export of wood and allied products, revoking all previously issued licenses and permits to exporters.
The announcement was made on Wednesday by the Minister of Environment, Mr Balarabe Lawal, during the 18th meeting of the National Council on Environment in Katsina State.
Mr Lawal said the directive, outlined in the Presidential Executive Order titled Presidential Executive Order on the Prohibition of Exportation of Wood and Allied Products, 2025, became necessary to curb illegal logging and deforestation across the country.
“Nigeria’s forests are central to environmental sustainability, providing clean air and water, supporting livelihoods, conserving biodiversity, and mitigating the effects of climate change,” the Minister said, warning that the continued exportation of wood threatens these benefits and the long-term health of the environment.
The order, published in the Extraordinary Federal Republic of Nigeria Official Gazette No. 180, Vol. 112 of 16 October 2025, relies on Sections 17(2) and 20 of the 1999 Constitution (as amended), which empower the state to protect the environment, forests, and wildlife and prevent the exploitation of natural resources for private gain.
Under the new policy, security agencies and relevant ministries are expected to enforce a total clampdown on illegal logging activities nationwide.
On his part, the Katsina State Deputy Governor, Mr Faruk Lawal Jobe highlighted the state’s history of pioneering socio-economic policies that have influenced national policy. He emphasized the importance of collaboration in addressing environmental challenges across the country.
“Environmental sustainability is critical to achieving growth and improving the quality of life of our people,” he said. “Our administration has prioritised initiatives aimed at combating desertification and promoting afforestation.”
The ban reflects the government’s commitment to safeguarding Nigeria’s shrinking forest cover and addressing climate change, while ensuring sustainable use of natural resources for future generations.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.24 per cent on Wednesday, December 17, pulling the Unlisted Security Index (NSI) up by 8.62 points to 3,614.64 points from 3,606.02 points.
In the same vein, the market capitalisation added N4.72 billion to close at N2.164 billion compared with the N2.160 trillion it ended on Tuesday.
The growth was inspired by four securities, which finished on the gainers’ log, neutralising the losses printed by two other securities on the trading platform.
MRS Oil Plc gained N17.90 on Wednesday to end at N196.90 per unit versus N179.00 per unit, NASD Plc appreciated by 59 Kobo to N58.50 per share from N57.91 per share, FrieslandCampina Wamco Nigeria Plc added 15 Kobo to sell at N60.19 per unit versus N60.04 per unit, and Industrial and General Insurance (IGI) Plc rose by 6 Kobo to 64 Kobo per share from 58 Kobo per share.
On the flip side, Golden Capital Plc extended its loss by 76 Kobo to end at N7.75 per unit versus N8.51 per unit, and Central Securities Clearing System (CSCS) Plc slipped by 35 Kobo to N39.65 per share from N40.00 per share.
Yesterday, the volume of transactions increased by 737.3 per cent to 20.4 million units from 2.4 million units, but the value of trades fell by 33.8 per cent to N72.2 million from N109.1 million, and the number of deals slid by 62.5 per cent to 21 deals from 56 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc remained the most traded stock by value on a year-to-date basis with 5.8 billion units sold for N16.4 billion, the second position was occupied by Okitipupa Plc with 178.9 million units transacted for N9.5 billion, and the third place was taken by MRS Oil Plc with 36.1 million units worth N4.9 billion.
InfraCredit Plc was also the most traded stock by volume on a year-to-date basis with 5.8 billion units traded for N16.4 billion, followed by IGI Plc with 1.2 billion units valued at N420.7 million, and Impresit Bakolori Plc with 536.9 million units worth N524.9 million.
By Dipo Olowookere
A 0.26 per cent growth was achieved by the Nigerian Exchange (NGX) Limited on Wednesday on the back of sustained bargain-hunting by investors.
This happened despite a pocket of profit-taking, with industrial goods losing 0.63 per cent and the energy index shedding 0.05 per cent.
But the insurance space increased by 2.02 per cent, the banking counter appreciated by 1.48 per cent, the commodity sector improved by 0.48 per cent, and the consumer goods segment rose by 0.03 per cent.
Consequently, the All-Share Index (ASI) went up by 383.71 points to 149,842.82 points from 149,459.11 points and the market capitalisation jumped by N244 billion to N95.525 trillion from N95.281 trillion.
The market breadth index remained positive after the bourse finished with 38 price gainers and 23 price losers, indicating a strong investor sentiment.
The quartet of First Holdco, Lasaco Assurance, Veritas Kapital, and Prestige Assurance gained 10.00 per cent to quote at N39.60, N2.75, N1.76, and N1.65, respectively, while Mecure Industries grew by 9.92 per cent to N50.40.
Conversely, Living Trust Mortgage Bank lost 10.00 per cent to close at N3.15, International Energy Insurance dropped 9.92 per cent to trade at N2.27, McNichols shrank by 6.90 per cent to N2.97, Omatek decreased by 6.84 per cent to N1.09, and Chams dipped by 6.41 per cent to N2.92.
The activity level witnessed a significant surge at midweek, with Ecobank trading 5.3 billion units for N168.7 billion.
Further, First Holdco sold 108.2 million units worth N4.2 billion, Sterling Holdings exchanged 87.3 million units valued at N606.2 million, FCMB transacted 74.3 million units worth N783.6 million, and Access Holdings sold 41.5 million units for N841.4 million.
At the close of trades, market participants traded 5.9 billion units valued at N216.2 billion in 25,205 deals compared with the 1.0 billion units worth N21.8 billion traded in 23,701 deals a day earlier, showing a rise in the trading volume, value, and number of deals by 490.00 per cent, 891.74 per cent, and 6.35 per cent, respectively.
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