Business
Cadbury Nigeria @60 Fireside Chat With Dr Christopher Kolade: Here are the key points
Dr. Kolade also stressed the significance of prioritizing people and responsibility over status, citing a personal experience at Cadbury Nigeria.

Dr Christopher Kolade, the first indigenous CEO, Cadbury Nigeria Plc, has charged the company’s management and staff to live up to expectations in the discharge of their duties.
Dr Kolade gave the encouragement during a fireside chat to commemorate Cadbury Nigeria 60th Anniversary.
The former chairman, emphasized the importance of adhering to core principles, as a company does not perform better than its people.
He drew inspiration from Winston Churchill’s leadership during World War II, highlighting the need for leaders to adapt to changing contexts.
Dr. Kolade also stressed the significance of prioritizing people and responsibility over status, citing a personal experience at Cadbury Nigeria.
According to him, human capital aligns with the company’s commitment to sustainable growth and development.
The former CEO, who left the company 23 years ago, noted that,“people are the most important resource in the management of a business company.
Citing his personal life philosophy, he recalled that he begins with God the creator; proceed with Him; trust, follow and Obey Him daily and totally rely on Him for the outcome.
“Your responsibility leads to your status. Without responsibility no status. If you don’t know your responsibility people will push you to the wrong part,” he said.
The distinguished diplomat, academic and corporate leader, noted that change is inevitable but good principles remain constant.
“Times change -and so do many other things; Good principles remain constant. Leaders are tenants of time.”
The former CEO, who left the company 23 years ago, noted that,“people are the most important resource in the management of a business company.
“People look at status rather than responsibility..
He noted that every human activity faces at least four questions: the What, How, Who and Why.
He urged the audience to consider the following seven simple principles:
“This business company gives something to people.“People are seeking to obtain some value that they consider to be of appropriate quality and worth to themselves.
“People make business resources productive. “Each person can give or demand his/her best.
“People can usually do better because they can (desire to) learn and apply the fruits of learning.
“Success, failure and mistakes are learning opportunities.
“The Company does not perform better than its people.” He emphasised that people go the extra mile for the benefit of the company.
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.
.
-
Business2 days ago
PENGASSAN Ends Strike as Dangote Recalls Workers
-
Entertainment20 hours ago
National Theater: The Bankers’ Committee “made me eat my words – Soyinka
-
Business1 day ago
FG Spends $2.86bn on External Debts Servicing – CBN
-
Business1 day ago
ECOWAS Bank okays $308.63m for Nigeria, Guinea
-
International19 hours ago
Legendary conservationist, Jane Goodall, dies at 91
-
News2 days ago
Nigeria’s 65th Independence: Tinubu’s full speech
-
International2 days ago
Deported Nigerian Claims Ghanaian Officials Abandoned Him in Togo
-
News20 hours ago
Kogi Enforcing Ban on Trailer Parks from October 29 – Fanwo