Business
Dufil Prima appoints Chain Reactions as PR consultant for Indomie Noodles

Chain Reactions Africa has announced its appointment as the new strategic communications and public relations consultant for Dufil Prima Foods Limited, makers of Indomie Instant Noodles.
According to a statement on Thursday by the PR firm, the partnership, which took effect on February 1, 2024, intends to first strengthen Indomie Noodles’ market leadership and build stronger emotional connections with consumers across the Nigerian market.
“With a commitment to delivering quality products and enriching the lives of consumers, Dufil Prima Foods Limited recognises the importance of breakthrough communications strategies that reaches the hearts and move the wallets,” the firm said.
“As part of its growth strategy as the clear market leader, the company has enlisted the expertise of Chain Reactions Africa to enhance its flagship brand – Indomie Instant Noodles’ visibility, reputation, and engagement within the Nigerian market.”
Speaking on the new partnership, Temitope Ashiwaju, group corporate communications and event general manager at Dufil Prima Foods, expressed excitement about working with Chain Reactions Africa.
“Their proven track record of creativity, strategic depth, understanding of trends and culture amongst critical demographics, market insight and integrated approach to communications have made them our preferred partner,” he said.
“Together, we aim to strengthen our market leadership, engage with our consumers more effectively, and drive meaningful connections that resonate with our target audience.”
Also speaking on the partnership, Jaiye Opayemi, Chain Reactions Africa’s managing director and chief strategist, expressed delight at the ‘good news’ from Dufil Prima Foods Limited, thanking the organisation for “choosing us” to manage the Indomie Instant Noodles brand.
Business
Afreximbank Strengthens Dangote Refinery with US$1.35 Billion Loan
“This refinancing strengthens our balance sheet and accelerates with ease the refinery’s supply of high-quality refined petroleum products across Africa, ” said Aliko Dangote.

• Aliko Dangote and Benedict Oramah
African Export-Import Bank (Afreximbank) has contributed US$1.35 billion of the US$4 billion syndicated financing arrangement for Dangote Industries Limited (DIL) to refinance the Dangote Petroleum Refinery and Petrochemicals Complex.
Commenting on the development, Professor Benedict Oramah, President & Chairman of Board of Directors at Afreximbank, said:“With this landmark deal, we once again demonstrate that Africa’s development can only be meaningfully financed from within.
“It is only when African institutions lead the way that others can follow.
The journey to utilise African resources for its own economic transformation is well underway.
Through the Bank’s funding support, we are enhancing the capacity of the Dangote Refinery and Petrochemical Industries Ltd to produce and supply high quality refined petroleum products to the Nigerian market, as well as for export to the entire continent and the world. Our energy security is in sight.”
Aliko Dangote, President/Chief Executive, Dangote Industries Limited, added:“Afreximbank’s contribution to this milestone financing underscores our shared vision to industrialize Africa from within.
“This refinancing strengthens our balance sheet and accelerates with ease the refinery’s supply of high-quality refined petroleum products across Africa, ” said Aliko Dangote.
Afreximbank acted as the Mandated Lead Arranger, for the syndication.
This financing— one of the largest syndicated loans in recent African financial markets—will refinance capital expended on constructing
The financing alleviates initial operational expenditures and enhances DIL’s balance sheet, supporting its continued growth trajectory.
Afreximbank contributed US$1.35 billion, the largest share among participating banks, underscoring its commitment to large-scale infrastructure that advances Africa’s industrialization, energy security, and intra-African trade.
Since operations at the refinery complex began in February 2024, Afreximbank has continued to support the Dangote Refinery by providing key financing solutions—for crude supply and product offtake—ensuring uninterrupted operations and reinforcing its role in Africa’s most significant refining intervention.
Business
Marketers, Retailers fight dirty as Fuel price nears N1,000 per litre in Nigeria

Petroleum product marketers and retailers are trading blame as the premium motor spirit pump price nears N1,000 per litre in Nigeria.
On Monday, it was reported that the Nigerian National Petroleum Company Limited retail outlets across the country increased fuel prices.
In Abuja, Nasarawa, and Kogi states, the NNPCL petrol pump price jumped by N65 per litre to N955 per litre on Monday from N890 dispensed at the weekend.
IPMAN, PETROAN give reasons for fuel price increase:
The latest fuel price hike in Nigeria has been blamed on several reasons, including the fall in global crude oil price, the exchange rate, the Dangote Refinery, and the Depot Owners petrol ex-depot price increase.
While the Independent Petroleum Marketers of Nigeria blamed the exchange rate for the latest fuel price hike, the Petroleum Products Retail Outlets Owners Association of Nigeria blamed Dangote Refinery’s pricing system.
The spokesman of IPMAN and the National President of PETROAN, Chinedu Ukadike and Billy Gillis-Harry, respectively, made these perspectives known in separate interviews on Monday.
Ukadike partly attributed the recent fuel price hike to forces of demand and supply in a deregulated downstream oil industry.
He noted that the latest price adjustment is not unconnected to price reviews at petrol depots and the Dangote Refinery.
“Fuel prices went up due to forces of demand and supply.
Supplying Depots and Dangote Refinery have increased their ex-depot petrol prices.
“The cost of the Dollar is the reason for the price hike for depot owners.
“For Dangote Refinery, I can’t say categorically, but it may not be unconnected to the price of crude oil; you know the plant imports the bulk of its crude oil.
“As of Friday, Dangote Refinery is N858 per litre, NIPCO (N870), Aiteo (855), and Ranoil (N865),” he said.
On his part, Gillis-Harry blamed the Dangote Refinery pricing mechanism for the latest fuel price hike.
“We should be looking at proper fuel pricing because what the Dangote Refinery is doing is not proper pricing,” he said.
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Business
Expectations High For Nigeria’s First Policy Ministerial Quarterly Briefing
In May 2025, President Bola Ahmed Tinubu announced the ‘Nigeria First’ policy, a bold assertion of economic sovereignty to reshape Nigeria’s financial priorities.

*Dr Jumoke Oduwole, the Minister of Industry, Trade, and Investment
The first three months of the Federal Government’s “Nigeria First Policy” directive ended with stakeholders expecting Dr Jumoke Oduwole, the Minister of Industry, Trade, and Investment, to update the business community, especially Nigerian manufacturers on how well the Ministries, Departments, and Agencies (MDAs) have complied with the Patronage of quality made in Nigeria products.
In May 2025, President Bola Ahmed Tinubu announced the ‘Nigeria First’ policy, a bold assertion of economic sovereignty to reshape Nigeria’s financial priorities.
This policy emphasises the promotion of domestic goods and services, particularly within government procurement and public sector activities.Its core objectives are to strengthen Nigeria’s local industries, reduce import dependence, and accelerate industrialisation through import substitution.
Following the enthusiasm surrounding the policy, the Minister stated during an appearance on Channels TV that her ministry would conduct quarterly performance evaluations of all MDAs based on their adherence to the Nigeria First Policy, emphasising the importance of buying made-in-Nigeria goods and services.
She noted that compliance with the policy will now be integrated into performance metrics for the President’s Central Coordinating Delivery Unit.
Oduwole asserted, “This compliance will be continuously monitored. As a major player in the economy, the government must lead by example by boosting local production and decreasing reliance on imports.
“She outlined three main areas where the policy will be implemented: focusing on local procurement, ensuring that all local options are considered before exploring foreign alternatives, and improving regulatory and bureaucratic processes to support local enterprises.
The Minister expressed that her ministry’s performance aligns with the President’s directives, with the overarching goal of fostering both domestic and foreign investment to enhance productivity, trade, and export growth.
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