General
Fortune Magazine Names Dangote 11th Greatest Leaders on Earth
Foremost philanthropist and richest man in Africa, Mr Aliko Dangote, has been rated 11th of the 50 World’s Greatest leaders for 2019.
The rating carried out by the Fortune Magazine, an American multinational business magazine headquartered in New York City, United States, was released recently and focused mainly on the businesses run by the men and how they have used it to impact their society positively.
The time-tested magazine, which first edition was published in February 1930, said the world’s greatest leaders both men and women are transforming the world and inspiring others to do so in business, government, philanthropy and the arts.
“These thinkers, speakers, and doers make bold choices and take big risks- and move others to do the same”, the magazine declared.
This is the first time Fortune magazine is recognizing and including Aliko Dangote in the annual ranking. Specifically, Dangote having popped up in the magazine’s radar earned nomination after being adjudged as having used business to acquire wealth and who is now converting his wealth into impactful philanthropy through his Aliko Dangote Foundation.
The top 10 greatest men and women, according to Fortune are: Bill and Melinda Gates, Jacinda Ardem (Prime Minister, New Zealand), Robert Mueller (Special Counsel, Department of Justice), Pony Ma (Founder and CEO, Tencent), Satya Nadella (CEO, Microsoft), Greta Thunberg (Student and climate activist, Sweden), Margrethe Vestager (Commissioner for Competition, European Union), Anna Nimiriano (Editor-in-Chief, Juba Monitor), Jose Andres (Chef/Founder, World Central Kitchen), and Dough Mcmillon and Lisa Woods (CEO; Senior Director, Strategy & Design for U.S. Benefits, Walmart).
The ranking of Mr Dangote as one of the greatest business leaders has attracted comments by eminent persons around the world who described him as worthy of the nomination going by his business acumen and philanthropic gestures.
Global business giant and founder of Bill and Melinda Gates Foundation, Mr Bill Gate extolled the efforts of Mr Dangote in making businesses play roles in provision of sound public health through his various interventions in health care issues especially in the fight against malnutrition and routine polio.
Mr Gates, who himself was ranked along with Dangote, said “Aliko Dangote, through his leadership at the Aliko Dangote Foundation, is a key partner in the Polio eradication effort, strengthening routine immunisation and fighting malnutrition in Nigeria and across Africa. Aliko bridges the gap between private business and public health in a unique way and our shared belief that Nigeria will thrive when every Nigerian is able to thrive drives our partnership.”
Renowned activist and co-founder of ONE, Paul David Hewson, popularly called Mr Bono said he was not surprised at Mr Dangote’s feat globally, saying his vision is as big as the African continent.
Mr Bono, a global campaigner on taking action to end extreme poverty especially in Africa said: “Aliko has a vision just the size of his continent, but with humility of somebody who has just started his first job. It’s no surprise to me that Fortune would recognise his leadership because we have seen first-hand, through his service on ONE’s Board, the benefits of his wise counsel and grace.”
Also, the popular Economic analyst, Mr Bismark Rewane stated that “Aliko remains understated but very potent and Africa’s most successful and decorated entrepreneur. He is a global financial and managerial behemoth.”
Mr Dangote as the Africa’s richest – worth $16.4 billion, according to Bloomberg – and the four publicly traded companies under the umbrella of his Dangote Industries now account for about a third of the value of the Nigerian stock exchange.
That wealth is based on a big bet on Nigeria’s economic independence: Dangote’s peers give him credit for helping the country become self-sufficient in the sectors in which his companies compete (cement, agriculture and mining).
The Aliko Dangote Foundation (ADF) is the Philanthropic endeavor of Aliko Dangote. The main objective of the Foundation is to reduce the number of lives lost to malnutrition and disease.
The Foundation is poised to combat Severe Acute Malnutrition (SAM) in children, as the core of its programming. It has also resolved to use its investments in health, education, and economic empowerment to help lift people out of poverty.
It would be recalled that Dangote was last year ranked among 75 most powerful persons on the planet, ahead of the Vice-President of the United States of America, Mike Pence.
Aliko Dangote has been named among most powerful persons in the world for the past five consecutive years. According to the Forbe’s 2018 ranking of the World Powerful people, Dangote ranked among world leaders like Xi Jinping, the Chinese President, Vladimir Putin the Russian President and Donald Trump, the President of the US, all of whom were ranked first, second and third respectively.
He was the only Nigerian on the list and one of the only two Africans who made the list with the other being the Egyptian President, Abdel Fattah el-Sisi, who was ranked 45thmost powerful.
In the same vein, he was named among the 100 most influential personalities in the world in 2018 by Time Magazine, leading business broadcast organisation. The CNBC had earlier in same year ranked Mr Dangote as one of the 25 people which have had most profound impact on business and finance worldwide.
He was rated the most influential African by Jeune Afrique in their classification of the most influential 50 Africans in 2018, and was also named the 6th most charitable person in the world in the same year according to Richtopia, a United Kingdom-based digital platform. He is, in addition, the richest African, according to Forbes.
Mr Dangote stepped up his humanitarian activities recently spending billions of Naira to build hospitals and critical hospital equipment, the lack of which has forced Nigerians of means to seek medical attention abroad.
He also donated a N1.2 billion Business School complex to Bayero University in Kano and another one for the University of Ibadan Business School. Last month he donated 10 blocks of hall of students’ hostel that can accommodate 2,160 beds to the Ahmadu Bello University, Zaria, Kaduna state.
The business mogul has continued through the Foundation by disbursing N10 billion to vulnerable women across the 774 local governments in the country.
Mr Dangote made a donation of $2 million to the World Food Programme as part of efforts to help Pakistani nationals devastated by floods in the year 2010.
Mr Aliko Dangote was made the chairperson of the Presidential Committee on Flood Relief, which raised in excess of N11.35 billion, of which Dangote himself contributed N2.5 billion, an amount higher than the entire contribution from the 36 state governors in Nigeria.
So far, the Foundation has spent over N7 billion in the troubled North Eastern part of Nigeria to see that the Internally Displaced Persons as a result of the activities of insurgents, are re-integrated back to the bigger society.
General
Nigeria-China Strategic Partnership to Deepen Economic Ties
By Adedapo Adesanya
The Director-General of the Nigeria-China Strategic Partnership (NCSP), Mr Joseph Tegbe, is currently visiting China to bolster China-Nigeria relations and foster economic and sustainable development between both countries.
The DG, with the Nigerian delegation, on Monday was at the headquarters of the National Development and Reform Commission (NDRC) of the People’s Republic of China where the NDRC Deputy Chairman received them, Mr. Zhao Chenxin, and other top officials, as well as the Nigerian diplomatic community and the Chinese Business Community.
Mr Tegbe is expected to cement strategic agreements in line with President Tinubu’s vision, with China for national growth and in vital sectors of the economy such as agriculture, to boost food security, alternative energy for developing renewable energy sources, healthcare, mining for harnessing Nigeria’s mineral resources to drive economic growth, education to strengthen Nigeria institutions and promote cultural exchange.
Other areas include technology, to foster innovation and advancement, and the support initiative of China’s Belt and Road Initiative (BRI).
The visit of the NCSP ‘s DG underscores the federal government’s commitment to establishing strong bilateral relations and supporting Nigeria’s economic diversification plans, infrastructure development, technology transfer, and job creation to foster mutually beneficial collaboration between the two nations.
Through this initiative, Nigeria can leverage its resources and human capital to develop key industries, bolster infrastructure, and enhance youth capacity through skills acquisition programmes.
On Monday, the DG NCSP and his team visited the CCECC Head Office, had dinner with the CHEC, and will on Tuesday, visit the Governor of the Central Development Bank, the Ministry of Foreign Affairs, and the China Export, Import Bank, as well as the China Development Bank. They also met with Power China Representatives.
They will on Wednesday, visit the Chief Harbour, the CHEC, CNCEC, and the CCECC Chairman, before moving to the CSCS Haishen Medical on Thursday, the CCECC, the China Building Materials, amongst others.
They will on Monday, 20th January, visit the Consulate General/Trade Mission Office, the Yang Shang Deep Sea Port, and Danghai Bridge (Sea).
The team is also expected at Huawei, before going to the CEC/ Long UAV, for a meeting with Diana Chen on Saturday, before returning to Nigeria.
This initiative comes on the heels of President Bola Tinubu’s official visit to China before the 2024 Forum on China-Africa Cooperation (FOCAC), where he had talks with China’s President Xi Jinping on improved economic cooperation, with the latter pledging 360 Billion Yuan, (about $51 billion), financing to African nations in the next three years, and support for 30 infrastructure projects to boost connectivity across the continent.
Last week, Chinese Foreign Minister Wang Yi visited Nigeria to reinforce the growing partnership between China and Africa, especially Nigeria, with discussions on strengthening economic ties, enhancing security cooperation and mutual developmental goals.
As Nigeria, Africa’s largest economy, seeks to become a net exporter to China in the next five years, the consolidated partnership is aimed at playing a crucial role in achieving this goal.
The country also remains China’s major partner on the continent for trade and technology investments.
General
Adelabu Claims Power Generation Rose 30% in 2024
By Adedapo Adesanya
The Minister of Power, Mr Adebayo Adelabu, said power generation in the country increased by about 30 per cent in 2024, but missed crucial targets in the review year.
Mr Adelabu made the disclosure during his ministry’s 2025 budget defence before the Senate Committee on Power at the National Assembly complex on Monday.
He said that when he assumed the leadership of the ministry in 2023, he met an average of 4,100 megawatts of power generation.
“I can tell you authoritatively that by the end of 2024, we had a peak generation of 5,528 megawatts of power from 4,100 megawatts that we met on ground and the reason for this is not far-fetched. We added a new hydroelectric power dam, Zungeru, with 700 megawatts.
“There was also a tremendous increase in the generation lines by other existing generation companies,” he said.
The Minister said that the target for power generation was 6,000 megawatts, adding, however, that due to the challenges experienced toward the end of 2024 in terms of grid collapses, the ministry missed the target by a minimal margin.
He further said that apart from energy access expansion, the sector had plans to stabilise the grid and other transmission infrastructure.
“I’m happy to also inform you that out of the eight collapses of the national grid that we experienced during 2024, five were full collapses, while three were partial collapses.
“Out of the five full collapses, three were actually due to generation problems. So, as against the 12 collapse that were publicised, it was just about eight collapses.
“We have been trying very hard to ensure that we manage the grid that was inherited.
“Unfortunately, it is still very old. It is dilapidated. And we are just managing it until we are able to fix it permanently.
“This is the focus of the Presidential Power Initiative, to ensure that the entire grid is revamped so that we won’t be having all this vandalism.
“So these are the summaries of our activities. And we are proud to say that we almost met all our targets for 2024.
“Our hope is that 2025 will be a better year for us, and we will be able to address all the existing issues in the sector,” he said.
General
Sanwo-Olu Denies Involvement in Obasa’s Removal as Lagos Speaker
By Dipo Olowookere
The governor of Lagos State, Mr Babajide Sanwo-Olu, has refuted claims that he was involved in the removal of Mr Mudashiru Obasa as the Speaker of the Lagos State House of Assembly.
Mr Obasa was impeached on Monday after being on the seat since 2015 by 32 of the 40-member state parliament for alleged gross misconduct.
The action was carried out while the Speaker was away in the United States, with Mrs Mojisola Meranda elected as his replacement, becoming the first female to occupy the position.
It happened a few weeks after Mr Obasa said during the presentation of the 2025 budget by Mr Sanwo-Olu that he was qualified to be the governor of the state and even better than those who have occupied the position.
This statement by the former Speaker was seen as an affront on the previous governors of the state, including President Bola Tinubu, who governed Lagos between 1999 and 2007.
It has been speculated that Mr Obasa kept Governor Sanwo-Olu waiting for long during the budget presentation last month. It was claimed that this action infuriated the governor and leaders of the ruling All Progressives Congress (APC).
Yesterday, members of the parliament in Lagos said they had had enough of Mr Obasa, moving to remove him from office.
As this happened, there were claims that Mr Sanwo-Olu instigated members of the Lagos State House of Assembly to impeach the former Speaker.
But the governor, through his Special Adviser on Media and Publicity, Mr Gboyega Akosile, distanced himself from the impeachment, emphasising that it was purely a decision of the legislative arm of government.
“This is a legislative matter, and the Assembly handled it as they saw fit. The governor has no involvement,” Mr Akosile, who once served as the Chief Press Secretary (CPS) of Mr Sanwo-Olu, said in an interview, noting that his principal does not interfere in the other arms of government.
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