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 Adedapo Adesanya
The United Kingdom has reaffirmed its development partnership with Kano and Jigawa States, as part of its long-term commitment to development and reform in northern Nigeria.
The Head of Development Cooperation at the British High Commission Abuja, Ms Cynthia Rowe, recently completed high-level engagements with governors of both states as well as senior government officials and civil society leaders.
The discussions underscored the UK’s modern approach to development as a genuine partnership with Nigeria, which prioritises state-led ownership and sustainable development that delivers lasting impact through strengthening systems and partnerships grounded in investment, trade, climate financing, technical expertise and joint accountability.
According to a statement, the Foreign Commonwealth and Development Office, via the British High Commission, said Nigeria remains one of the UK’s most significant development partners, adding that the engagements underlined the strength and ambition of the bilateral relationship reaffirmed during the recent UK-Nigeria State Visit.
In Kano, Ms Rowe met with Deputy Governor Alhaji Murtala Sule Garo and senior officials, including the newly confirmed Head of Civil Service and Secretary to the State Government. The visit recognised Kano’s progress on climate finance, health system reform and private sector investment supported through UK technical assistance.
In Jigawa, she met with Governor Umar Namadi and heads of key ministries, departments and agencies. The meeting celebrated more than 25 years of UK-Jigawa partnership, one of the most longstanding bilateral development relationships at the subnational level in Nigeria. Discussions covered the state’s continued progress on health systems reform, agriculture, and governance and the path forward under UK technical assistance.
Since 2022, PLANE has supported Kano, Kaduna and Jigawa to strengthen state-led education delivery systems, working through Ministries of Education, SUBEB and key agencies. Its RANA+ foundational learning packages have reached 1.4 million pupils across the three states, alongside wider system strengthening.
Speaking on this, Ms Rowe said, “For more than 25 years, we have worked side by side with state governments, including Jigawa and Kano states, their communities, and civil society to build stronger health systems, improve learning outcomes for millions of children, support farmers to grow their businesses, and help states attract the investment they need to thrive.
These visits have reinforced our confidence in what this partnership can achieve. We are working together to deliver lasting change, and deepening a relationship built on genuine mutual respect and shared ambition for Nigeria’s growth and development.”
By Adedapo Adesanya
The Nigerian Meteorological Agency (NiMet) has signed a Memorandum of Understanding (MoU) with the Central Bank of Nigeria (CBN) on data sharing to enhance economic productivity.
This was done at a meeting at CBN Head Office in Abuja, where the weather body led by its Director General, Mr Charles Anosike, on Wednesday, highlighted the importance of integrating weather and climate data into economic research, especially in sectors such as agriculture, energy, and transportation.
He noted that extreme weather events can reduce agricultural productivity and threaten food security.
He added that the collaboration aligns with the Renewed Hope Agenda of President Bola Tinubu, which prioritises food security through major agricultural investment, including the cultivation of 10 million hectares of land and the distribution of mechanised equipment.
Mr Anosike cited a 2026 World Bank report that showed that extreme weather driven by climate change is significantly affecting global food security, with more than 87 million people facing hunger in East and Southern Africa and 52 million in West and Central Africa.
He also referenced the latest Berkeley Earth Report, which projects that 2026 is likely to be the fourth warmest year on record, a trend that continues to shape agricultural and energy market projections.
In his remarks, Mr Muhammad Sani Abdullahi, Deputy Governor, Economic Policy Directorate of the CBN, said the signing of the MoU marked an important step in strengthening the partnership between two key national institutions whose mandates intersect in data, research, and policy support.
He emphasised that, in an increasingly complex and dynamic economic environment, timely and reliable data remain essential for effective policy decisions.
According to him, the Economic Policy Directorate relies heavily on timely and credible statistical information from NiMet, saying that such data are critical for inflation monitoring, agricultural sector assessment, and broader economic policy advisory functions.
He described the initiative as both timely and important, adding that strong institutional partnerships are essential for strengthening evidence-based policymaking and improving the robustness of national data systems.
At the close of the event, Mr Anosike and Mr Sani Abdullahi signed the MoU on behalf of their respective institutions.
By Adedapo Adesanya
The Inspector-General of Police (IGP), Mr Tunji Disu, has ordered an immediate nationwide ban prohibiting Point-of-Sale (POS) operators from running their businesses within a 200-metre radius of any police station, divisional headquarters, or police formation across Nigeria.
This directive, released via an internal police wireless message, addresses critical systemic challenges regarding extortion and corrupt financial practices within law enforcement facilities.
The order is to be strictly enforced nationwide, with senior officers overseeing various formations to be held accountable for any breach of the directive.
The Nigeria Police Force stated that the measure is intended to strengthen transparency, accountability, and public confidence in the policing system.
The decision comes after an alarming proliferation of POS businesses near police facilities, with investigations and public complaints revealing that some operators were actively complicit in facilitating extortion, bribery, and illegal cash transfers forced upon civilians or suspects during police encounters.
Under the directive, Assistant Inspectors-General of Police (AIGs), State Commissioners of Police (CPs), and heads of formations will be held vicariously liable for any breach within their jurisdictions.
The IGP’s order states: “Any officer or POS merchant found flouting the 200-metre operational boundary or colluding in illicit transactions will face immediate disciplinary and criminal actions under extant laws.
“If you are a POS agent or looking into regulatory compliance for financial services in Nigeria, let me know. I can provide details on current Central Bank of Nigeria (CBN) radius registration guidelines or share methods to report officer misconduct directly to the Force Headquarters.”
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