Africa’s richest man and industrial magnate, Aliko Dangote, has officially stepped down as the Chairman of Dangote Cement Plc, one of the largest cement producers on the continent. The decision, which took effect this week, is aimed at allowing him to dedicate more attention and resources to the rapidly growing operations of his energy ventures, including the multibillion-dollar Dangote Refinery project. Dangote, who built his cement empire from the ground up, served as Chairman of Dangote Cement for over a decade, guiding the company through expansions across Nigeria and several other African countries. His resignation signals a significant shift in…
Author: Temitope N.
After weeks of tension that stalled a major power transmission line project in northern Nigeria, the Transmission Company of Nigeria (TCN) and Kano State Government have reached a comprehensive agreement to jointly move forward with the stalled infrastructure initiative. This resolution marks a turning point in efforts to bolster electricity delivery for millions of households and businesses in the Kano region. The dispute began when the power project—designed to carry electricity from the national grid to underserved areas across Kano State—ran into bureaucratic obstacles and disagreements over right-of-way, compensation for affected communities, and coordination between federal and state stakeholders. When…
The much-anticipated Gateway International Agro-Cargo Airport in Ogun State is officially set to begin operations on October 7, marking a significant milestone in Nigeria’s aviation and transportation sector. The inaugural flights will be operated by Nigerian carrier ValueJet, which has confirmed it will begin with a twice-weekly service connecting the new facility to major domestic routes. Ogun State Governor Dapo Abiodun disclosed the development while speaking on the state’s progress in positioning itself as a major aviation and logistics hub. According to him, the airport is not just a transportation project but also a cornerstone for agricultural, industrial, and economic…
Fuel marketers and industry stakeholders are experiencing mounting difficulties as the shutdown of the Port Harcourt Refinery drags on, leaving many without access to refined petroleum products and deepening financial strain across the downstream oil sector. Though officially labeled as a routine maintenance exercise, sources within the host communities and petroleum product retail associations have described the ongoing refinery shutdown as a cover for deeper issues, including a lack of crude oil supply to the facility. According to them, the Port Harcourt Refinery had already ceased operations weeks before the formal announcement of maintenance due to an alleged scarcity of…
Champion Breweries Plc has secured shareholder approval to raise ₦45 billion in fresh capital as part of its strategy to scale operations, enhance competitiveness, and reposition the company for long-term growth. The decision was reached at the company’s Extraordinary General Meeting (EGM), held in a virtual format, where investors overwhelmingly supported the capital injection plan. The approved funds are expected to be raised through a combination of debt instruments, including bonds, notes, and other forms of capital market securities. According to the company’s board, the capital raise will be executed in tranches, with flexibility to explore both local and international…
Unity Bank Plc has reached a major milestone in its restructuring journey as shareholders officially approved its planned merger with Providus Bank Limited. The decision, endorsed at an extraordinary general meeting held in Lagos, marks a new chapter in Nigeria’s banking sector, signaling one of the most significant consolidation moves in recent years. The merger is designed to strengthen Unity Bank’s financial position, enhance operational efficiency, and create a more robust financial institution capable of competing effectively in Nigeria’s increasingly competitive banking landscape. By joining forces with Providus Bank, Unity Bank aims to improve its balance sheet, expand its product…
The Nigerian National Petroleum Company Limited (NNPC) has reported a significant revenue boost, hitting ₦4.65 trillion in August 2025 despite challenges posed by declining crude oil output. The latest figures highlight the resilience of the state-owned energy giant in the face of persistent operational hurdles, including pipeline vandalism, oil theft, and underinvestment that have strained Nigeria’s oil and gas sector for years. According to industry updates, the revenue surge was largely driven by higher crude oil prices in the international market, refined product sales, and improved efficiency in revenue collection across the company’s business arms. Analysts suggest that NNPC’s diversification…
The Nigerian National Petroleum Company Limited (NNPCL) has announced that its planned re-entry into the Ogoni oilfields in Rivers State will be conducted under the principles of justice, equity, and transparency. The company emphasized that the renewed effort to resume oil production in the area will not repeat the mistakes of the past, where decades of environmental degradation, neglect, and conflict strained relations between host communities and oil operators. Speaking on the issue, NNPCL officials explained that the company recognizes the historic sensitivities surrounding oil exploration in Ogoniland. They stressed that the focus this time is to ensure the people…
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has announced the suspension of gas and crude oil supply to the Dangote Petroleum Refinery, citing unresolved disputes that have strained relations between the union, government agencies, and the refinery management. The decision, revealed after an emergency meeting of the association, has raised concerns about possible disruptions in the supply of refined products across the country. PENGASSAN, one of Nigeria’s most influential oil and gas unions, said its action followed months of unresolved grievances bordering on workers’ welfare, regulatory compliance, and operational disagreements with the refinery. The association noted…
The Dangote Petroleum Refinery has temporarily suspended the sale of petrol in naira, a move that has generated intense discussions across Nigeria’s energy and financial sectors. The decision, confirmed by industry sources late Wednesday, marks a major shift in the way the refinery engages with marketers and could have far-reaching implications for fuel supply, pricing, and the wider economy. This suspension comes barely months after the refinery commenced petrol sales to the domestic market, with many viewing it as a relief to the country’s foreign exchange pressures and a step toward energy independence. However, stakeholders now worry that halting naira-based…
In a startling operation, the National Drug Law Enforcement Agency (NDLEA) has arrested a Chinese national and an 80‑year‑old grandmother following the seizure of unusual parcels of colos—a potent ammunition-like commodity—concealed within commercially packaged moi‑moi sachets. The incident, which has triggered fresh concerns over creative smuggling tactics, occurred recently at a major border checkpoint in Nigeria’s south-south region. NDLEA sources explain that the corps uncovered a complex smuggling method involving food packaging. The colos—small, widely misused cannons typically used in celebratory shots or sometimes in illicit circulating weapons—were reportedly wrapped in plastics and sealed into legitimate looking moi‑moi packets. The…
The European Union has pledged €500,000 in humanitarian assistance to support internally displaced persons (IDPs) in Benue State, marking a significant boost to relief efforts amid escalating displacement and insecurity in the region. The announcement comes amid worsening clashes between herders and farmers in parts of central Nigeria, driven largely by changing land use patterns, resource competition, and sporadic political unrest. Tens of thousands of residents have fled their homes in rural communities, often under extreme hardship. The EU’s funding is aimed at alleviating the most pressing needs in hard-hit areas, including shelter, healthcare, and food security. The €500,000 package…
The Nigerian passport has climbed to the 88th position in the 2025 Henley Passport Index rankings — its most favourable global standing in over a decade. The recent improvement reflects modest but steady gains in visa-free access enjoyed by Nigerian passport holders, offering more international mobility than at any point since 2014. According to the index, Nigerian passport holders now have visa-free or visa-on-arrival access to approximately 70 countries, a milestone attributed partly to enhanced diplomatic relations, strengthened passport security features, and concerted international lobbying. Analysts say this represents a modest expanded value compared to just 55 accessible destinations as…
Shareholders of The Tourist Company of Nigeria (TCN) Plc have given their nod to a new board of directors at the company’s recent Annual General Meeting, while issuing strong calls for immediate and far-reaching reforms to reposition the firm for better performance and profitability. At the meeting, which attracted a cross-section of stakeholders, shareholders ratified the appointment of Mrs. Erejuwa Gbadebo as the new chairperson of the board. Also confirmed were Ms. Anita Athena Ibru, Mr. Kofi Joseph Duncan, and Mr. Andy Akporugo as non-executive directors. The re-election of Mr. Toke Alex Ibru as a non-executive director was also approved…
Nigeria’s logistics industry is facing a significant productivity crisis, with low asset utilisation emerging as a key bottleneck hindering growth and efficiency. According to the Chief Executive Officer of Haul247, Nigeria’s leading digital logistics platform, the idle time of trucks and other transport assets is driving up operational costs, limiting service delivery, and eroding competitiveness across the value chain. At a recent industry roundtable, Haul247’s CEO highlighted how the current mismatch between demand and capacity has left a large portion of the nation’s fleet underutilised. In many cases, transport vehicles sit idle for days—or even weeks—awaiting cargo assignments or clearance…
Nigeria’s real estate sector is experiencing a slowdown in demand as spiraling inflation and rising interest rates continue to erode the purchasing power of potential homebuyers and investors. Real estate developers, agents, and analysts have expressed growing concern over the declining activity in property transactions, warning that if economic conditions persist, the sector may face deeper challenges in the months ahead. Speaking with journalists and at recent industry forums, operators noted that the steep cost of living — driven by inflation now at multi-decade highs — has significantly affected disposable incomes, reducing the ability of Nigerians to invest in homes,…
Nigeria, a country blessed with over 200 trillion cubic feet of proven natural gas reserves, continues to grapple with inadequate electricity supply, plunging millions of its citizens into prolonged darkness. This paradox of energy poverty amid resource abundance has drawn renewed criticism from stakeholders, most notably former Minister of Power and founder of Geometric Power, Professor Barth Nnaji. At a recent energy conference in Abuja, Nnaji voiced his frustration over the country’s perennial power crisis. He stated that it was both baffling and unfortunate that a nation with such immense gas potential still finds it difficult to provide stable electricity…
The Nigerians in Diaspora Commission (NiDCOM) has entered into a strategic partnership with FirstBank of Nigeria to provide accessible and reliable housing solutions for Nigerians living abroad. The initiative is aimed at addressing the growing concerns of diaspora citizens over fraudulent property transactions and the difficulty of owning homes back in Nigeria. The agreement, recently formalized in Abuja, brings together NiDCOM’s policy direction and diaspora engagement expertise with FirstBank’s financial infrastructure and mortgage capabilities. Under the new arrangement, Nigerians living outside the country will have access to verified real estate developers, mortgage financing options, and digital platforms that ensure safe…
Universal Insurance Plc is preparing to launch an upgraded version of its third‑party motor insurance product, a move intended to strengthen consumer protection and enhance value for motorists across Nigeria. Scheduled for introduction later this quarter, the enhanced offering aligns with the company’s broader strategy to innovate its insurance portfolio and support safer, more secure road travel. The new third‑party motor cover promises expanded liability limits and more comprehensive protection for victims of road traffic accidents. Among the improvements are increased compensation caps for death and bodily injury claims as well as higher provisions for property damage—notably more generous than…
Veteran entertainer Charles Oputa, popularly known as Charly Boy, has taken aim at a Lagos State local government for its decision to rename a public bus stop after the celebrated musician Olamide Adedeji. The outspoken activist criticized what he described as misplaced priorities, arguing that public infrastructure should not be leveraged for celebrity homage amid glaring civic needs. Charly Boy expressed his dismay on social media and during interviews, insisting that the renaming was insensitive to the pressing challenges faced by everyday commuters in Nigeria’s largest city. He questioned why a bus stop—typically a functional body of urban infrastructure—was being…