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”.
The organisers of Nigeria’s premier cycling event, the inaugural Lagos Gran Fondo “EKO 170” are proud to announce Mikano International Limited and Changan as the Official Platinum and Founding Infrastructure Partners.
The landmark 170km mass-participation cycling race is set to take place on January 11, 2026, showcasing Lagos as a global hub for sports tourism, healthy living, and sustainable mobility.
This strategic partnership forms the operational foundation of the event, with Mikano and Changan providing essential in-kind support. This includes official race vehicles from Changan’s range of reliable and innovative automobiles (distributed exclusively in Nigeria through Mikano Motors), power generation solutions from Mikano’s renowned expertise in energy systems, medical services, and comprehensive rider support throughout the challenging route.
The collaboration highlights a shared dedication to safety, excellence, and sustainability, aligning perfectly with the event’s goals and the Lagos State Government’s vision for innovative, world-class initiatives.
Endorsed by the Lagos State Government, the EKO 170 Gran Fondo will start and finish at the iconic Eko Atlantic City, taking riders through Victoria Island, across the Lekki-Ikoyi Link Bridge, along the Lekki–Epe Expressway to Epe, and back — offering participants a unique view of Lagos’s coastal beauty, modern infrastructure, and vibrant energy.
The event is expected to attract over 1,000 cyclists, from elite professionals to enthusiastic amateurs, from Nigeria and internationally.
As the exclusive Power and Infrastructure Partner, Mikano and Changan will receive prominent branding visibility across all event platforms.
A highlight of the partnership includes the introduction of a Mikano Clean Energy Hub at the finish-line festival, demonstrating cutting-edge sustainable power solutions.
With the foundational backing of Mikano International Limited — a leading Nigerian provider of power generation, automotive, and industrial solutions — and Changan — a globally respected automotive brand known for performance, safety, and innovation — the Lagos Gran Fondo “EKO 170” is poised to deliver an unforgettable, world-class cycling experience.
Participant registration remains open at www.eko170.com. Cyclists and supporters are encouraged to join this historic event that celebrates Lagos’s resilience and forward-thinking spirit.
Media Contact: Sabatha Joshua Media Relations, Lagos Gran Fondo “EKO 170”.
This partnership marks a significant milestone in elevating Lagos on the global stage through sports, infrastructure excellence, and community-focused innovation.
Business
CBN’s N500bn capital base: 14 banks to close operations or merge
Checks by our Reporter shows that the affected banks include First City Monument Bank (FCMB), Unity Bank, Keystone Bank, Union Bank (now Titan), Taj Bank, Standard Chartered Bank, Parallex Bank, and SunTrust Bank…
Fourteen banks have not met the Central Bank of Nigeria ‘s recapitalisation requirements .The deadline is March 31.
Checks by our Reporter shows that the affected banks include First City Monument Bank (FCMB), Unity Bank, Keystone Bank, Union Bank (now Titan), Taj Bank, Standard Chartered Bank, Parallex Bank, and SunTrust Bank.
Others are FBH Merchant Bank, Rand Merchant Bank, Coronation Merchant Bank, Alternative Bank, and other non-interest banks.
However, nineteen banks have met the N500 billion minimum capital benchmark .
They include Access Bank, Fidelity Bank, First Bank, GTBank (GTCO), UBA, Zenith Bank, and twelve others.
Business
Why Tax Reforms Benefits Will Be More Than The Shocks – Kupoluyi, LCCI President
…The harmonisation of taxes will be a relief to companies that have been paying over 16 taxes.
The newly elected President of Lagos Chamber of Commerce and Industry (LCCI), Mr Leye Kupoluyi, spoke with ThisdDay Newspaper about the chamber’s advocacy focus during his tenure for the next two years. Excerpt:
What will be the direction of LCCI’s advocacy under your leadership?
Thank you so much for this question. As you know advocacy is one of our major mandates as a chamber because of the different interests that we are representing.
Under my leadership we will carry on advocacy as usual as evidence based engagement on how to strengthen Nigeria’s productive capacity and enhancing business generally.
Our advocacy will be for competitiveness of Nigerian businesses beyond the borders of Nigeria.
The chamber will focus on advocacy that will enable Nigerian companies to be very well competitive within Nigeria and in Africa because it is now a borderless economy.
Do Nigerian companies have the muscle to push their competitiveness beyond the country?
If we do not have the muscle then we have to develop it. But truly we have the muscle to push it. Nigeria is the hope of Africa.
Arguably Nigeria is the largest economy in Africa. I do not want to go into the statistics of people saying which country has the largest economy because there is no country in Africa that is bigger than Nigeria.
Therefore, if we cannot take the lead in Africa then there is no one to do it. There is no doubt that Nigeria is the arrow head of Africa.
What’s your reaction to the shrinking West African market for Nigerian products due to the exit of Burkina Faso, Mali and Niger Republic from ECOWAS?
There are challenges in terms of organised legal exports to these countries even though most of the manufactured goods they require still come from Nigeria.
But definitely there are challenges in terms of doing business the way we know it at this chamber, which is formal, legal and legitimate trade and not through smuggling.
Informally, Nigerian goods are reaching these countries but there are challenges when it comes to formal trade. And we know that ECOWAS leaders are doing everything possible to bring these countries back into the fold.
What do you think will be the immediate impact of the implementation of the new tax laws from January 1, 2026?
Thank you very much. For every reform like Nigeria’s tax reform there must be some shocks and benefits.
But with the tax reforms we know that the benefits will be more than the shocks. It is a very good relief that the low income earners have been removed from the tax net.
The multiple taxations that have been an epidemic in Nigeria’s business environment for many years will be taken care of.
The tax reform must not be a burden to the people. It will unlock lots of revenues for the government because the tax net has been widened and strengthened. Also the harmonisation of taxes will be a relief to companies that have been paying over 16 taxes.
The reform will make the environment predictable because we will know where we are going. Its implementation will be transparent as we move along and be beneficial to both the government and the tax payers.
But we should wait to see how it goes in January. In our own case we keep enlightening our members and sending the feedback to the government.
Under my leadership we will carry on advocacy as usual as evidence based engagement on how to strengthen Nigeria’s productive capacity and enhancing business generally.
What’s your take on public apprehensions regarding the implementation of the tax reform?
Those of us in the orgnised private sector are looking at it as a relief because those multiple taxation will go, low income earners exempted, the tax net expanded and that the tax system made more transparent and harmonised. If these are achieved it will bring big relief to the organised private sector.
What does 2026 hold for Nigerian the economy?
The past two years tried our resilience but from all indications 2026 will be a year of growth.
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