Business
Aliko Dangote Celebrates African Young Global Leaders

President, and Chief Executive Officer of the Dangote Group, Aliko Dangote, learned about the Forum of Young Global Leaders (YGLs) and the tremendous potential of this unique World Economic Forum community to develop the next generation of African leaders from all parts of society, at the World Economic Forum Annual Meeting 2011 in Davos, Switzerland.
The Young Global Leaders programme is an accelerator for a dynamic community of exceptional young people from all over the world with the vision, courage, and influence to drive positive change in the world. This philosophy aligned neatly with Aliko Dangote’s vision for an Africa whose people are healthier, better educated, and more empowered through enhanced opportunities for social change through strategic investments that improve health and wellbeing, promote quality education and broaden empowerment opportunities for individuals and communities.

He, therefore, through Aliko Dangote Foundation, (ADF) partnered with the Forum to establish the Aliko Dangote African Fellowship programme to guarantee the full engagement of young African leaders from small and medium enterprises (SMEs) and non-business entities who might otherwise not be able to participate in the Forum’s Young Global Leaders Community. The fellowship covers the cost of their participation at World Economic Forum and YGL-led events for 6 years for each Fellow.
Now in the twelfth year of collaboration with the WEF YGL programme, the Aliko Dangote (WEF Africa YGL) Fellows continue to represent the continent on the global stage and give back to their communities in a multiplicity of impactful ways. The partnership has ensured a richness in the diversity of the YGL community – adding an important African perspective, inspiring impact, and making sure that all voices have a chance to be heard where global decisions are debated, discovered, and made.

Since the start of the WEF YGL programme 20 years ago, the World Economic Forum nominates up to two hundred exceptional young leaders under 40 for a six-year period of membership. Following the partnership with Dangote 12 years ago, the programme has included 15-20 young leaders from sub-Saharan Africa following a rigorous selection process. At any one time, the African YGL Community consists of around eighty active members, 75% of whom are eligible for the Dangote Fellowship.
Fatima Aliko Dangote, ED Dangote Industries, expressed pride at the diversity and high proportion of female fellows in the 2023 Cohort, where the nine chosen YGLs represent the media/arts/entertainment, technology & innovation, health, and government sectors.
The ADF-YGL Lagos Convening which took place on September 8th, was an excellent opportunity for the participating current and alumni YGL Africa Fellows to meet and interact with their patron, Alhaji Aliko Dangote at the site of his most ambitious project to date; the multi-billion-dollars Petroleum complex at Lekki. They were able to interact with Alhaji Aliko Dangote and senior executives of Dangote Group and be inspired by his vision and engage in informal conversation about their journey as YGLs and the impact the community has had on their personal and professional development.

After a tour of the Fertilizer and the Refinery complex, the immensely impressed alumni’ were full of praise for their mentor, describing him as “the best hope for Africa”.
Aliko Dangote YGL Alum and Executive Director, of African Youth Initiative Network, Victor Ochen from Uganda, said he was extremely impressed with what he saw at the refinery and that the aggressive investment in the project has shown how much faith Aliko Dangote has in the African continent. While lauding Dangote’s investment drive, he also appreciated him for his generosity in providing financial means for him to participate in forum events he otherwise would have been unable to do.
According to him: “I am so happy with what Dangote is doing in Nigeria and Africa as a whole. This is a man that is investing in the youth through his foundation and employing tens of thousands of Africans, in his various plants. I am so humbled to be here, and to learn from the expertise of this man whom God has blessed our continent with…I thank Dangote for his generosity, which has provided many young African leaders, regardless of the country, the much-needed financial means to participate in YGL events. Without the support of ADF, our active participation would not have been possible.”

In the same vein, Fatoumata Ba from Senegal, said this trip to the Refinery has further fueled her ambition to put in all it takes into what she does and make Africa proud the way Dangote is doing. Ba, a Tech Entrepreneur & VC Investor is currently the Founder & Executive Chair of Janngo Capital and Chairwoman of the Board of Auchan in Africa. Explaining what she does and how YGL has impacted her positively, she said her company, Janngo is Africa’s largest gender equal tech fund and is backed by top-tier African & International strategic and financial investors; a journey that was made possible through her participation in the YGL programme.
She said: “Being a YGL has not only been a great opportunity to amplify our dreams but also an opportunity to promote a culture of peace and growth. We are committed to developing and representing Africa with integrity.”
Managing Director/CEO of the Aliko Dangote Foundation (ADF), Zouera Youssoufou, thanked Dangote for his continuous support of the YGLs, and assured him that his investment is not in vain, as the young global leaders are achieving exploits in their respective fields and living up to the expectations of being true African future leaders.
Dangote encouraged the YGLs to put in their best in their various fields and not be discouraged when setbacks occur, because those are to be expected. He encouraged them to continue raising their ambition for our continent because “Nothing is Impossible”.
Business
Dangote Refinery Debunks shutdown rumour, says PMS’s gantry price remains N850

The Dangote Petroleum Refinery has firmly dismissed recent reports alleging a shutdown of its operations, reassuring the public and market stakeholders that its activities remain fully active and stable.
In an official statement by the Group Chief Branding and Communications Officer, Anthony Chiejina, the refinery’s management categorically denied claims that truck loading has been suspended or that production has been interrupted. “The Dangote Petroleum Refinery is fully operational. There has been no shutdown, nor has there been any suspension of truck loading activities” the statement reads.
The refinery also clarified that the intermittent sale of Residual Catalytic Oil (RCO) is part of normal business operations, often involving large parcel sales, which explains the recent fuel oil tender.
According to the management, Dangote Petroleum Refinery consistently supplies over 40 million litres of PMS daily, alongside steady volumes of Automotive Gas Oil (diesel). These supplies continue unabated, despite speculation suggesting otherwise.
“As the world’s largest single-train petroleum refinery, the facility employs advanced predictive and preventive maintenance protocols to ensure uninterrupted operations. Routine maintenance activities are standard and do not impact the overall fuel supply” the statement further clarified.
In response to speculation about potential supply shortages and price increases, the refinery challenged those sponsoring the rumour to place orders for daily deliveries of up to 40 million litres of PMS and 15 million litres of diesel for the next 90 days.
“To those who believe this misinformation and anticipate a bullish market, we extend a challenge: We invite interested buyers to place immediate orders for up to 40 million litres of PMS daily and 15 million litres of AGO daily, for the next 90 days, with full upfront payment. Should any supposed supply shortage occur, these buyers would be well-positioned to benefit from the predicted market rise,” it added.
The refinery reaffirmed its commitment to transparency and Nigeria’s energy security, urging the public to disregard unfounded rumours sponsored by unscrupulous and unpatriotic individuals seeking to undermine the country’s energy independence for their own selfish interests, including the importation of substandard fuels under the false pretext of domestic supply shortages.
Business
Ikeja Electric releases new prepaid meter prices

Ikeja Electric has released updated prices for prepaid meters, which take effect from August 6, 2025. The revised rates cover both single-phase and three-phase meter types and are inclusive of VAT.
The revised rates were announced on the disco’s official X account on Friday.
The company announced that “MBH Power Ltd’s one-phase costs ₦135,987.50, while the three-phase costs ₦226,825.00. Turbo Energy Ltd’s one-phase costs ₦145,608.75, while the three-phase costs ₦236,903.13.
“Aries Electric Ltd’s one-phase costs ₦145,125.00, and the three-phase costs ₦258,000.00. Mojec Asset Management Company Ltd’s one-phase costs ₦135,718.75, and the three-phase costs ₦226,825.00.
“Paktim Metering Nig. Ltd, the one-phase meter costs ₦137,600.00, while the three-phase meter costs ₦233,275.00. Holley Metering Ltd’s one-phase meter costs ₦133,854.03, three-phase meter costs ₦219,497.09.
“CIG Metering Assets Nigeria Ltd’s one-phase meter costs ₦150,500.00, New Hampshire Capital Ltd’s one-phase meter costs ₦133,300.00 and the three-phase costs ₦231,125.00.”
The electricity distribution company noted that the prices are “valid subject to meter availability,” adding that the changes are part of its effort to ensure customers have access to up-to-date information on meter procurement.
The company also assured customers that the new pricing reflects the latest approved rates for meter providers under its Meter Asset Provider scheme.
Business
Global electricity demand to keep growing robustly through 2026 despite economic headwinds – IEA
Renewables are expected to overtake coal as the world’s largest source of electricity as early as 2025 or by 2026 at the latest, depending on weather and fuel price trends.

Global electricity demand is set to rise by 3.3% in 2025 and 3.7% in 2026 – more than twice as fast as total energy demand growth over the same period, the IEA’s Electricity Mid-Year Update finds.
The new report underscores the increasing demand for electricity to power factories and appliances, keep buildings cool, operate growing fleets of data centres, run electric vehicles and more.
While the latest forecasts for global electricity demand growth this year and next are a deceleration from the 4.4% surge recorded in 2024, they remain well above the 2015-2023 average of 2.6%.
Renewables are expected to overtake coal as the world’s largest source of electricity as early as 2025 or by 2026 at the latest, depending on weather and fuel price trends.
At the same time, nuclear power output is expected to reach record highs, driven by reactor restarts in Japan, robust output in the United States and France, and new additions, mostly in Asia.
The steady increase in gas-fired power generation is set to continue displacing coal and oil in the power sector in many regions.
As a result of these developments, carbon dioxide emissions from electricity generation are currently forecast to plateau in 2025 and record a slight decline in 2026, although weather and economic conditions could affect that trajectory.
“The growth in global electricity demand is set to remain robust through 2026, despite an uncertain economic backdrop,” said Keisuke Sadamori, IEA Director of Energy Markets and Security.
“The strong expansion of renewables and nuclear is steadily reshaping electricity markets in many regions. But this must be matched by greater investment in grids, storage and other sources of flexibility to ensure power systems can meet the growing demand securely and affordably.”
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