Business
Dangote Named Most Admired African Brand, Bags Two More Awards in Addis Ababa

Dangote Industries Limited has been named the most admired African Brand after receiving two more major awards in Addis Ababa over the weekend.
This is another historic milestone for the pan-African investor and the Dangote Industries Limited.
The company garnered three prestigious accolades at the 15th annual Brand Africa 100 awards, held at the iconic Africa Hall in Addis Ababa, Ethiopia—the birthplace of the Organisation of African Unity (OAU), now the African Union (AU).
Dangote Industries Limited was named Most Admired African Brand, following an independent, consumer-led survey conducted across more than 30 African countries.
The company was also inducted into the Brand Africa Hall of Fame, becoming the first African firm to receive this distinction.
The induction recognises Dangote’s transformative impact on African consumers and its influential role in shaping a positive narrative for the continent.
President/Chief Executive, Dangote Industries Limited, Aliko Dangote was honoured with a Lifetime Achievement Award in recognition of his leadership in driving impactful industrialisation, establishing a world-class African brand, and reshaping the continent’s economic future through a benchmark, homegrown enterprise.
Joining Dangote Industries in the inaugural Hall of Fame were MTN, M-Pesa, Ethiopian Airlines, and South Africa, for consistently ranking among Africa’s most admired brands over the past 5 to 15 years and for building sustainable, globally respected brands.
Reacting to the awards, Group Chief Branding & Communications Officer, Dangote Industries Limited, Anthony Chiejina, said the honours reflect the unwavering commitment, excellence, and innovation that define the group’s journey.
He added that they are a testament to the dedication of the company’s outstanding team, partners, and stakeholders, who continue to believe in the mission to drive sustainable development and economic growth across the continent.
“We also extend our heartfelt appreciation for the Lifetime Achievement Award presented to our Founder and President, Aliko Dangote for building a purposeful world-class industrial brand that has exceptionally transformed African lives and the African narrative.
This accolade celebrates not only his visionary leadership but also his tireless efforts in transforming industries, creating opportunities, and championing African enterprise on the global stage.
His legacy is an inspiration to generations of entrepreneurs and leaders across Africa,” he said.
Noting that the recognition would further inspire the company to push boundaries, empower communities, and deliver meaningful value across Africa and beyond, Chiejina reaffirmed Dangote Industries’ commitment to excellence, integrity, and transformative growth.
In his keynote address, United Nations Under-Secretary-General and Executive Secretary of the Economic Commission for Africa, Mr Claver Gatete, praised Aliko Dangote, the Hall of Fame inductees, and the Brand Africa laureates for advancing the African agenda.
He highlighted the alignment between Brand Africa and the ECA’s mission to promote inclusive industrialisation, regional integration, and private sector-led growth.
He also called for increased investment in youth-led innovation, regional value chains, and the establishment of a Pan-African Creative Innovation Fund to identify, finance, and globalise Africa’s most promising brands.
“I wish to particularly acknowledge MTN, Dangote Group, mPesa and Ethiopian Airlines for consistently maintaining their distinguished positions among the “Most Admired African Brands” category and continuing to set benchmarks in brand leadership, innovation and continental impact,” he said.
According to the organisers, the 2025 rankings reveal a stark contrast between rising African optimism and declining brand loyalty.
While 68% of Africans expressed belief in the continent—up from 64% in 2024—only 11% of the Top 100 Most Admired Brands are African, marking a historic low and down from 14% in 2024.
The report indicates the urgent need for homegrown brands to translate belief into consumer loyalty, and for Africans to more actively support Made-in-Africa products and enterprises.
“It is disappointing to see the sharp drop in African brands, which mirrors the ranking of non-African nations as the most influential in Africa,” says Thebe Ikalafeng, Founder and Chairman of Brand Africa.
“It’s a wake-up call for Africa—and a barometer of the continent’s lagging industrialisation agenda. It’s not enough for Africans to say they believe in the continent—they must buy made-in-Africa.
For that to happen, African brands must invest in R&D, continue to innovate, deliver quality, and use authenticity as a differentiator.”
Business
PENGASSAN – Dangote Rift: A needless attack on private enterprise

The Director-General, Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has described the rift between Dangote Refinery and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) as unfortunate, and a needless attack on private enterprise.
He noted that the strike had far-reaching implications on residents and businesses, as factories suffered cuts in production schedules, with a hike in transportation fare.
Fielding questions from reporters at MAN House, yesterday, while announcing the association’s coming Annual General Meeting (AGM), he revealed that imported products, which were not suffering disruption, were likely to fill the gap and if the rift rears its head again, it would affect daily workers and people in the logistics value chain that rely on the products made in those factories.
Meanwhile, PENGASSAN has said it decided to suspend its two-day strike to protect the jobs of its members in Dangote Refinery.The President, Festus Osifo, explained that the union was unsatisfied with the posting of about 800 sacked staff to Dangote’s subsidiaries to prevent job loss.
Business
FG Spends $2.86bn on External Debts Servicing – CBN
By August 2025, debt service climbed to $302.3m, which was $22.35m or 8 per cent higher than the $279.95m of August 2024.

The Federal Government spent a total of $2.86 billion to service external debt in the first eight months of 2025.
This was disclosed in the international payment data from the Central Bank of Nigeria.
The figure shows that external debts accounted for 69.1 percent of the country’s total foreign payments of $4.14 billion in the period.
In the same eight-month stretch of 2024, debt service stood at $3.06 billion, representing 70.7 percent of total foreign payments of $4.33 billion.
The figures show that while the absolute value of debt service fell by $198m between 2024 and 2025.
The share of debt in overall foreign payments has remained persistently high, with about seven out of every ten dollars leaving the country used to meet debt obligations.
The monthly breakdown highlights the volatility of Nigeria’s repayment schedule:
In January 2025, $540.67m was spent compared with $560.52m in January 2024, a fall of $19.85m or 3.5 per cent.
February 2025 recorded $276.73m, slightly below the $283.22m in February 2024, down by $6.49m or 2.3 per cent.March 2025 surged to $632.36m against $276.17m in March 2024, an increase of $356.19m or 129 per cent.
In April 2025, payments reached $557.79m, which was $342.59m or 159 per cent higher than the $215.20m of April 2024.
May 2025 stood at $230.92m, sharply lower than the $854.37m in May 2024, a drop of $623.45m or 73 per cent.
June 2025 rose to $143.39m compared with $50.82m in June 2024, a rise of $92.57m or 182 per cent.
July 2025 fell to $179.95m, down by $362.55m or 66.8 per cent from $542.5m in July 2024.
By August 2025, debt service climbed to $302.3m, which was $22.35m or 8 per cent higher than the $279.95m of August 2024.
Business
ECOWAS Bank okays $308.63m for Nigeria, Guinea
The bank gave the approval during its 93rd Ordinary Session convened at the it’s headquarters in Lomé, the Togolese capital.

ECOWAS Bank for Investment and Development (EBID), has approved $308.631 million for the implementation of various projects in Taraba State, Nigeria, and a $40 million credit line for Vista Bank, Guinea, to bolster trade-related activities, including import-export operations and commercial value chains.
The bank gave the approval during its 93rd Ordinary Session convened at the it’s headquarters in Lomé, the Togolese capital.
President and Chairman of Board of Directors of the bank, Dr. George Agyekum Donkor, said the newly approved financing would advance strategic public and private sector initiatives, aligned with EBID’s mandate to promote sustainable development throughout the Economic Community of West African States by strengthening regional integration and fostering economic diversification.
The approved facilities include the $98.18 for a 50 MW Solar Photovoltaic Power Plant in Taraba State, Nigeria, , which will augment the supply of reliable, clean electricity to spur inclusive economic development, alleviate energy poverty, and improve environmental sustainability.
Anticipated benefits include direct electricity access for roughly 390,000 individuals, enhanced power reliability for at least 200 public institutions, the creation of 400 direct jobs during construction, and approximately 50 permanent operational roles.
The bank noted that an estimated 1,200–1,500 indirect jobs were expected to emerge across supply chains, maintenance services,and small businesses.
Another facility is the $79.219 million modern rice processing complex and 10,000-hectare irrigated rice production unit also in Taraba State.
Also included is the $91.232 million facility for Taraba State Industrial Park, an initiative conceived to accelerate local industrialisation and economic diversification through the establishment of a modern, integrated industrial ecosystem.
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