Business

Dangote to flood Nigerian markets with 1 million metric tons of paddy rice

Construction of the 32 metric tonnes per hour Dangote Rice Mill, being developed on a 30-hectare site in Wushishi, is progressing steadily and is on track for completion.

Published

2 months ago

May 13, 2026

OCHEFA

147 Views

• Aliko Dangote in a conversation with IFC MD/CEO, Maktar Diop

Dangote Rice Limited had signed a Memorandum of Understanding with the Niger State government for the production and supply of 1 million metric tons of paddy rice over the next 10 years.

This was disclosed in a statement by the Dangote Industries Limited’s Group Chief Branding and Communication Officer, Anthony Chiejina, stating that the company is collaborating with the Niger State government on several economic initiatives to boost food sufficiency in Nigeria.

The statement quoted the Regional Director and Senior Adviser to the President and Chief Executive of the Dangote Group, Fatima Wali-Abdurrahman, as saying that construction of the company’s rice mill in Niger State was progressing.

“Construction of the 32 metric tonnes per hour Dangote Rice Mill, being developed on a 30-hectare site in Wushishi, is progressing steadily and is on track for completion.

This landmark project represents a significant step forward in bolstering the food security initiatives of the state,” she said.

Wali-Abdurrahman emphasised that upon its delivery, the mill is expected to enhance local rice production, create employment opportunities, and contribute to the agricultural development of Nigeria.

Earlier, Africa’s billionaire industrialist, Aliko Dangote, the President of Dangote Group, told Makar Diop IFC MD/CEO, that to create more jobs and prosperity is to do agriculture. With agriculture, we’ll get to maybe 200,000 jobs. And that’s what will really give me self-satisfaction.

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Business

BUA Group Denies Reports of Bid to Acquire Stake in Kano Pillars Football Club

Published

4 hours ago

June 30, 2026

Charles Flames

22 Views

BUA Group has firmly dismissed online reports claiming that the conglomerate and its Chairman, Abdul Samad Rabiu, submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

In a press statement issued on Tuesday, the company described the publication as inaccurate and misleading.

PRESS STATEMENT

Re: False Claims of Bid to Acquire Stake in Kano Pillars Football Club

Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

We would like to clarify that this report is inaccurate and does not reflect any position, action, or communication from BUA Group or Abdul Samad Rabiu. No such bid has been made, and there has been no engagement with any party on this matter.

We kindly request that this report be disregarded, and we encourage the public and members of the press to rely only on official statements issued through BUA Group’s verified channels for accurate information regarding our activities.

We appreciate the continued interest in BUA Group and thank the public for their understanding.

BUA Group reiterated its commitment to transparency and urged stakeholders to verify information through its official communication channels.

Business

Nigeria’s oil minister orders marketers to reduce fuel price

“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.

Published

8 hours ago

June 30, 2026

OCHEFA

18 Views

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, at the NMDPRA General Counsel and Legal Advisers Forum, directed petroleum marketers to reduce fuel price .

At the two-day forum themed: “Beyond Compliance: Driving Regulatory Certainty and Investment Confidence in Nigeria’s Petroleum Sector, Lokpobiri noted that refiners and marketers have continued to sell petrol at elevated pump prices despite the significant decline in crude oil prices from a peak of $120 per barrel to about $72 per barrel last week.

He said: “Following de-escalation of tensions between Iran and the United States, we expected to see a commensurate downward adjustment in the prices of PMS and other petroleum products.However, that has not yet happened.”