General
Nigeria Lacks Visionary Leaders—Dangote
**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.”
By Adedapo Adesanya
Nigeria’s National Economic Council (NEC) has approved the establishment of Cotton, Textile and Garment Development Board as part of efforts to drive non-oil revenues.
This was disclosed by the Governor of Imo State, Mr Hope Uzodinma, while briefing State House Correspondents at the end of the 149th NEC meeting chaired by the Vice-President, Mr Kashim Shettima, on Thursday at Presidential Villa, Abuja.
He explained that in order to make the board function effectively, the council approved a proposal for Public-Private Partnership (PPP).
Mr Uzodinma stated that the chairman of the board would be selected from the private sector, adding that the body would be funded from import levies on textiles.
“The National Economic Council, among others things, received a representation from the members and leadership of Cotton, Textile and Garment Development Forum.
“These are private sector operatives who are into the cotton business, garment and textiles and the presentation highlighted their proposal on how to revitalise the cotton industry in Nigeria.
“The council endorsed the presentation and approved the establishment of a National and regional Offices for the board in each of the six geopolitical zones for proper coordination,” said Mr Uzodinma.
On his part, Governor Douye Diri of Bayelsa said the council also received proposal from the Minister of Livestock Development on acceleration strategy for the livestock industry.
He said the presentation was on on a plan to transformation the livestock industry between 2025 and 2030, stating that the strategy was built on the national livestock growth acceleration plan, which is expected to transform the sector to create jobs, export products and serve as an engine room for internally generated revenue.
“The projection is that the strategy will generate between $74 billion down and $90 billion in that sector by the year 2035.
“It will be a direct partnership with the state governors, the private sector and foreign investors under a very sound federal regulatory umbrella,” said Mr Diri.
He added that the investment would be prioritised into five key pillars between 2025 and 2026, saying the pillars are: animal health and zones control, feed and further development, water resources management, statistics and information and livestock value chain development.
By Adedapo Adesanya
The Nigerian Maritime Administration and Safety Agency (NIMASA) has announced plans to commence the disbursement of the $700 million Cabotage Vessel Financing Fund (CVFF) within the next four months.
Last week, the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, instructed the maritime regulator to initiate the long-awaited disbursement process for the fund.
This directive marked a significant shift from over two decades of administrative stagnation and ushers in a new era of strategic repositioning of Nigeria’s indigenous shipping.
Speaking on Wednesday, NIMASA’s Director General, Mr Dayo Mobereola, providing a timeline for the disbursement said this will happen within the next four months, which by calculation, is August 2025.
He made the announcement during an oversight visit by the House of Representatives Committee on Maritime Safety, Education, and Administration in Abuja, according to the News Agency of Nigeria (NAN).
“We are acting in accordance with the directive of the Minister to ensure indigenous shipowners finally have access to this critical funding. The guidelines have been streamlined based on the Minister’s approval, so beneficiaries can access the funds within three to four months,” he said.
“To effectively manage the $700 million intervention fund, the number of Primary Lending Institutions (PLIs) has been expanded from five to twelve.”
The CVFF, established under the Coastal and Inland Shipping (Cabotage) Act of 2003, was designed to empower Nigerian shipping companies through access to structured financing for vessel acquisition. However, successive administrations failed to operationalize the fund—until now.
According to Minister Oyetola, the disbursement of the CVFF will represent not just the release of funds, but a profound commitment to empowering Nigerian maritime operators, bolstering national competitiveness, and fostering sustainable economic development.
“This is not just about disbursing funds. It’s about rewriting a chapter in our maritime history. For over 20 years, the CVFF remained a dormant promise. Today, we are bringing it to life—deliberately, transparently, and strategically,” he stated.
NIMASA, in alignment with the Minister’s directive, has already issued a Marine Notice inviting eligible Nigerian shipping companies to apply.
Qualified applicants can access up to $25 million each at competitive interest rates to acquire vessels that meet international safety and performance standards.
The fund will be administered in partnership with carefully selected and approved Primary Lending Institutions (PLIs), ensuring professional and efficient disbursement.
By Adedapo Adesanya
The Ogun State Government, through its Environmental Protection Agency (OGEPA,) has sealed four industries for environmental infractions.
According to a statement by the spokesman of the agency, Mr Luke Adebesin, the affected organisations are Fortune Height Farms Limited and Sanda Wood Industry Limited, both in Odogbolu Local Government, Shengceramic Material Limited in Ogere axis of the Lagos-Ibadan Expressway and Nehemiah Grace Developer Limited at Ijako in Ado-Odo, Ota Local Government.
The Special Adviser to the Governor on OGEPA, Mr Farouk Akintunde, reiterated that all companies must comply with operating and environmental standards laid by the state.
The agency alleged that Fortune Height Farms Limited, which is into production of eggs and catfish, was sealed after a petition was received from its host community for discharging untreated influence into the environment.
Sanda Wood Industry Limited was sealed for allegedly denying government officials access into its facility while engaging in open burning, while Nehemiah Grace Developer Limited was sealed for encroaching on the waterways and constructing drainage without the state government permit.
“Ogun State government will not fold its hand and allow these industries to violate our Environmental laws,” the agency said, adding that it will continue to ensure that the South Western state is safe and secure.
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