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

5 months ago

May 13, 2026

OCHEFA

256 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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Naira Rates To Dollar , Pound, EURO… Monday, October 5

Published

2 days ago

October 5, 2026

OCHEFA

33 Views

Black Market Exchange Rates

₦1365DOLLAR (USD)

₦1820POUND (GBP)

₦1535EURO (EUR)

₦970 CANADIAN DOLLAR (CAD)

₦65 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED)

₦190 CHINESE YUAN (CNY)

₦100 GHANAIAN CEDI (GHS)

West African CFA ₦2300CFA

Central African CFA ₦2200

Australian Dollar currency ₦850AUSSIE (AUD)

Official CBN Exchange Rates

DOLLAR (USD)₦1330.10

POUND (GBP)₦1759.58

EURO (EUR)₦1496.76

SWISS FRANC (CHF)₦1605.62

JAPANESE YEN (JPN)₦8.45

CFA FRANC (XOF)₦2.29

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1801.60

CHINESE YUAN (CNY) ₦198.39

SAUDI RIYAL (SAR)₦354.25

SOUTH AFRICAN RAND (ZAR)₦79.91

Business

Diesel Costs Bite: LAMATA Accelerates Shift To CNG, Electric Buses

The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.

Published

3 days ago

October 4, 2026

OCHEFA

47 Views

Lagos is accelerating its transition away from diesel-powered public transport as the Lagos Metropolitan Area Transport Authority (LAMATA) begins phasing out diesel buses from its regulated fleet, amid a surge in diesel prices that has pushed operating costs sharply higher.

LAMATA is targeting clean-energy propulsion for 52 per cent of its Bus Rapid Transit (BRT) fleet by 2050, with compressed natural gas (CNG) and electric vehicles (EVs) taking the place of conventional diesel buses under a policy that took effect at the beginning of 2026.

The Managing Director and Chief Executive Officer of LAMATA, Mrs. Abimbola Akinajo, disclosed this weekend, during the handover of 20 additional high-capacity CNG buses under the Presidential Initiative on CNG and EVs.

The latest delivery brings LAMATA’s CNG fleet to about 170 buses, following the deployment of approximately 150 CNG buses before the new vehicles were received.

The authority also operates high-capacity and medium-capacity electric buses.

Akinajo said some of the new CNG buses would be deployed on the busy Ikorodu–Tafawa Balewa Square corridor, where passenger demand remains high.

“We will only work with CNG or EV buses, and this has been the policy since the beginning of the year,” she said.

The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.

For LAMATA, the shift is therefore not only an environmental policy but also a cost-management strategy aimed at shielding commuters and transport operators from the impact of rising fuel expenses.

Akinajo said regulated public transport fares had not been increased, partly because the lower operating costs of CNG and electric buses were helping to contain the pressure on operators.

“Regulated public transport fares have not increased, and these buses have helped us achieve that,” she said.

Diesel phase-outUnder the new policy, existing diesel-powered buses in the regulated system will be progressively replaced with CNG and electric alternatives.

Akinajo said the long-term direction was for the regulated system to ultimately operate an entirely electric fleet, while the broader clean-energy target provides a pathway towards reducing emissions from Lagos’ transportation sector.

Transportation remains a major source of emissions in the megacity, making the switch to cleaner buses a key component of Lagos State’s long-term ambition of achieving net-zero emissions by 2050.