Business
Dangote: A Dogged and Fierce Fighter for Local Industries Survival
Nigeria aims to reduce reliance on imported refined fuels by 2024/2025, transitioning to self- sufficiency through the Dangote Refinery and rehabilitated refineries in Port Harcourt, Warri, and Kaduna, with plans to become a net exporter.
By OCHEFA, Editor
Africa’s billionaire Aliko Dangote, an astute industrialist, is always attentive to the environment around him, embodying the idiom” ears to the ground.
His investments in Nigeria and the other African countries span cement, sugar, petrochemicals, fertilisers and his latest venture, a $20 billion petroleum refinery in the Lekki free trade zone in Lagos.Six months ago, Dangote stepped down as the Chairman of the Dangote Group’s Board on July 25, 2025.
Anthony Chiejina, the Group’s Chief of Branding and Communications, explained that this move allows Dangote to focus more on the refinery, petrochemicals, Fertiliser, and government relations, to elevate the company’s five- year plan to new heights.
Subsequently, Emmanuel Ikazoboh, an independent non- executive director, was appointed Chairman of Dangote Cement Plc.
With his keen awareness of global and local oil and gas developments, Dangote closely monitors issues affecting his refinery’s operations.
He relies on a team of experts to keep him informed, and he responds fiercely against policies threatening his interests.
A current example is his public dispute with Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
With his keen awareness of global and local oil and gas developments, Dangote closely monitors issues affecting his refinery’s operations.
Recently, Dangote accused NMDPRA of economic sabotage, criticising its continued issuance of import licences for petroleum products- licenses totalling approximately 7. 5 billion litres of PMS for early 2026- despite Nigeria’s growing refining capacity.
He claimed this undermines local refining, sustains Nigeria’s dependence on fuel imports, and discourages local investments.
Dangote also alleged collusion between NMDPRA and international traders, which the regulator has denied.
Nigeria aims to reduce reliance on imported refined fuels by 2024/2025, transitioning to self- sufficiency through the Dangote Refinery and rehabilitated refineries in Port Harcourt, Warri, and Kaduna, with plans to become a net exporter.
Policies like a proposed 15% duty aim to make imports more expensive and accelerate this transition.
Dangote insists that he seeks accountability, not removal, calling for an investigation into NMDPRA’ s actions.
Following Dangote’s accusations,Ahmed resigned, acknowledging awareness of allegations against him and his family, which have attracted public attention.
He stated he avoided public disputes due to the sensitive nature of his regulatory role but welcomed a formal investigation to clear his name.
President Tinubu then asked the Senate to approve new CEOS for NMDPRA and NUPRC- Engineer Saidu Aliyu Mohammed and Oritsemeyiwa Amanorisewo Eyesan, respectively.
Business
President Tinubu to present 2026 budget to N/Assembly Friday
The 2026 budget is projected at N54.4 trillion, according to the approved 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
President Bola Ahmed Tinubu will, on Friday, present the 2026 Appropriation Bill to a joint session of the National Assembly.
The presentation, scheduled for 2:00 pm, was conveyed in a notice issued by the Office of the Clerk to the National Assembly.
According to the notice, all accredited persons are required to be at their duty posts by 11:00 am on the day of the presentation, as access into the National Assembly Complex will be restricted thereafter for security reasons.
The notice, signed by the Secretary, Human Resources and Staff Development, Essien Eyo Essien, on behalf of the Clerk to the National Assembly, urged all concerned to ensure strict compliance with the arrangements ahead of the President’s budget presentation.
The 2026 budget is projected at N54.4 trillion, according to the approved 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
Engr. Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has issued a disclaimer distancing himself from a purported response circulating online regarding recent corruption allegations levelled against him by billionaire businessman Aliko Dangote.
In a statement titled “DISCLAIMER/CLARIFICATION” personally signed by Ahmed, he categorically denied authoring or authorising any prior public response to the claims.
He said: “My attention has been drawn to a purported response I was said to have made on the recent allegations against my person,” the statement read.
“I hereby state categorically that the so-called statement did not emanate from me.
“Ahmed acknowledged awareness of what he described as “wild and spurious allegations” targeting him and his family, which have sparked significant public attention. However, citing his role as regulator of a sensitive industry, he said he has deliberately avoided engaging in public exchanges or “brickbats.”
“Thankfully, the person behind the allegations has taken it to a formal investigative institution,” Ahmed noted. “I believe that would provide an opportunity to dispassionately distill the issues and to clear my name.
“The disclaimer comes amid escalating tensions in Nigeria’s petroleum sector. Dangote, president of Dangote Industries Limited, recently petitioned the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate Ahmed over claims of living beyond legitimate means, including alleged multi-million-dollar expenditures on his children’s education abroad.
The ICPC has confirmed receipt of the petition and stated it will be duly investigated.Ahmed’s statement signals his preference for the matter to be resolved through official channels rather than media debates.
Business
Adesanya joins FrieslandCampina from Guinness Nigeria
Adesanya announced the move on his LinkedIn page, stating, “I’m happy to share that I’m starting a new position as Director of Group Sales at FrieslandCampina.
FrieslandCampina WAMCO has appointed former Guinness Nigeria Commercial Director, Olusanya Adesanya, as its new Group Director of Sales, marking a significant talent shift in Nigeria’s fast-moving consumer goods sector.
Adesanya announced the move on his LinkedIn page, stating, “I’m happy to share that I’m starting a new position as Director of Group Sales at FrieslandCampina.”
Adesanya, regarded as one of the country’s foremost commercial strategists, has been instrumental in Guinness Nigeria’s resurgence.
His exit was confirmed in a statement signed by the company’s Managing Director and Chief Executive Officer, Girish Sharma, who hailed his “twelve remarkable years of positive impact and growth.”
According to Guinness Nigeria, Adesanya joined the company in 2013 as a sales representative and rose through the ranks across the South-East, Lagos and South-West regions, ultimately becoming commercial director in 2023.
Over the years, he led retail expansion initiatives, including the launch of Project REAP, which transformed retail execution and broadened the company’s distribution footprint.
Under his leadership, Guinness recorded double-digit topline growth, improved margins, enhanced trade spend efficiency and strengthened distributor profitability.
His performance earned him several awards, including the African President Awards (2021) and MAD Awards (2014 and 2015).
Dangote: A Dogged and Fierce Fighter for Local Industries Survival
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