General

Nigeria Lacks Visionary Leaders—Dangote

Published

7 years ago

25/07/2018

**Begs FG to Stop Importation of Milk

By Dipo Olowookere

President of Dangote Group, Mr Aliko Dangote, has appealed to federal government to stop the importation of dairy product like milk just like with cement by coming up with what he called “draconian policy.”

The Africa’s richest man gave this suggestion in an interview with the Financial Times of London, where he was quoted as saying “Nigeria has always had a lack of visionary leadership.”

Mr Dangote, whose Dangote Cement controls over 65 percent share of the market in Nigeria, decried the fact that Nigeria still imports a lot of things that could be produced locally.

According to him, “What Nigeria needs is to produce locally what we can produce locally. Nigeria still imports vegetable oil, which makes no sense.

“Nigeria still imports 4.9 million tonnes of wheat, which does not make sense. Nigeria still imports 97 or 98 per cent of the milk that we consume.

“Government needs to bring out a draconian policy to stop people importing milk, just like they did with cement,” he was quoted to have said.

Speaking about his $12 billion oil refinery project expected to become operational in 2019, he said, “when we finish this project, for the first time in history Nigeria will be the largest exporter of petroleum products in Africa.”

When it is up and running, — the refinery will process 650,000 barrels of oil a day, a third of every drop Nigeria produces and approaching one per cent of planetary production.

That will make it the biggest oil refinery of its type in the world.

It will pump out all the plastic Nigeria’s 190 million population needs, as well as three million tonnes of fertiliser a year, more than all its farmers currently sprinkle on their fields.

The project requires sinking 120,000 piles, on average 25 metres in length. But, no port in Nigeria is big enough to take delivery of the massive equipment, which includes a distillation tower the height of a 30-storey building, and no road is strong enough to bear its weight.

Mr Dangote disclosed that he had to build both, including a jetty for which he has dredged the seabed for 65m cubic metres of sand.

There is not enough industrial gas in the whole country to weld everything together, so Dangote also revealed that he will build his own industrial gas plant. There aren’t enough trucks, so he’s producing those in a joint venture with a Chinese company, he added.

The plant will need 480 megawatts of power, about one-tenth of the total that electricity-starved Nigeria can muster, he further hinted.

Dangote is building his own power plant too.

For years, and absurdly, Nigeria has exported all its oil as crude and then reimported refined petroleum, such as petrol and benzene.

That has been a lucrative racket for the middlemen who scheme over import contracts and who concoct ways to scam a system distorted by subsidies.

“I am sure you know about this game,” Mr Dangote said. Because of its reputation for skulduggery, he said, he has shunned the oil trade.

“It is very simple to destroy a name,” he added, referring to a family business that stretches back to his great-grandfather on his mother’s side, Mr Alhassan Dantata, a prodigiously wealthy merchant who imported kola nuts from Ghana and exported groundnuts from Nigeria.

“But it’s very difficult to build it.”

Mr Dangote reiterated his desire to acquire London-based Arsenal Football Club, saying “I love Arsenal and I will definitely go for it.”

He reckoned that the football club is worth about $2 billion.

Speaking about his daily schedules, he said, “people call me in the middle of the night to tell me about their problems.”

According to him, Tony Blair, a former British prime minister and his friend had told him he needed to screen his calls. “Tony said he only makes three phone calls a day,” Mr Dangote said, adding that each day, scores of emails come rat-tat-tatting in. “You try to be polite and reply but they come back to you with a longer email, not minding that here is a very, very busy person,” he said.

He reckoned that he takes more than 100 calls a day.

“Look Aliko’,” he said Mr Blair had told him, “the world is not going to fall apart if you don’t answer your phone.’ “He, however, said his ambitions were changing as he is considering pulling back from the business, concentrating on strategy and letting others run things day-to-day.

“I’m trying to step back from some of the boards.”

General

ANLCA Airport Chapter Scores Salamatu High on Stakeholder Engagement, Trade Facilitation

Published

17 hours ago

22/12/2025

Business Post Contributor

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.

General

FG Declares Holidays for Christmas, New Year Celebrations

Published

21 hours ago

22/12/2025

Adedapo Adesanya

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.

General

Dangote Refinery Warns Against Artificial Petrol Scarcity

Published

21 hours ago

22/12/2025

Modupe Gbadeyanka

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.