Business

Five Truths Dangote Tells FG About Industrialising Nigeria

Dangote gave the insight this week during the official national launch of the National Industrial Policy 2025 in Abuja, themed “From Policy to Productivity: Implementing Nigeria’s Industrial Future.

Published

2 months ago

February 18, 2026

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The President and Chairman of Dangote Industries Limited, Aliko Dangote, has shared five fundamental truths in Industrialising Nigeria.

First, Dangote called on the Federal Government to urgently convene a national retreat to resolve Nigeria’s persistent electricity crisis, warning that widespread power outages are undermining the country’s industrialisation drive and economic growth.

Dangote emphasised that without stable electricity, Nigeria would struggle to create jobs, drive industrial productivity, or achieve sustainable economic growth.

“One of the things that I want to advise Your Excellency, Mr Vice President, is to call a national forum where we will have a one- or two-day retreat and resolve the issues of power. Because without power, Mr Vice President, there is no way in any country you can create growth or create jobs. So, power means growth. No power, no growth. So we must make sure that we tackle this issue,” he said.

Second, Dangote stressed that policy incentives alone were insufficient without strong infrastructure and protection of domestic industries.

“But one thing that we need is not only the policy. The policy is there. If you look at the incentives that we have for people to invest in Nigeria, actually, they are even more than what we need. The only thing that is remaining is the protection of industries.”

According to him, excessive importation remained a major threat to local manufacturing. “Even if you give us zero-interest loans, free land and power, if there is no protection, there is no way any industry will thrive here. Importation of anything is importation of poverty and exportation of jobs,” Dangote stated.

Third, Dangote also highlighted the dominance of the private sector in Nigeria’s economy, urging stronger collaboration between government and businesses.

“Nigeria is the only country in Africa where the private sector is bigger than the government. When you look at GDP, the private sector contributes almost 90 percent, compared to the government’s 10 percent,” he said.

“We have what it takes to create massive consumption, massive industry, and disposable income.

Fourth, Dangote added that entrepreneurs must also support national development by paying taxes and complying with regulations.

“When we do our business, we must pay our taxes. It is a joint venture. The government is the major shareholder in every business. Today, the government makes more money in our cement business than anybody. But that is okay, so far they allow us to expand and prosper.”

Dangote further said recent economic reforms had improved investor confidence and currency stability. “With the policies that this government has implemented, people are beginning to see the results. Manufacturers are happy.

The stability of the currency is encouraging investors to come into Nigeria,” he said.

He projected that the naira could strengthen further if import dependence is reduced.

“We should manufacture what we consume. That is the only way to create jobs. If we block unnecessary imports and support local production, the naira will get stronger,” he said.

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Business

John Ternus is Apple’s incoming CEO

John Ternus, Apple’s longtime hardware boss, is taking over as CEO, becoming just the second leader since Steve Jobs departed in 2011, less than two months before he died from cancer.

Published

1 day ago

April 21, 2026

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• John Ternus / CNBC / Getty Images

Tim Cook’s 15-year tenure as Apple CEO comes to an end on Sept. 1, the company announced on Monday.

John Ternus, Apple’s longtime hardware boss, is taking over as CEO, becoming just the second leader since Steve Jobs departed in 2011, less than two months before he died from cancer.

CNBC reports that as Cook exits, Apple faces numerous challenges, including an intricate supply chain that’s complicated by geopolitical tensions and soaring prices for memory due to unprecedented demand from the AI buildout.

But for Ternus, perhaps the most critical aspect of his new job will be pushing the company deeper into AI, where it’s lagged many of its megacap peers.

It said that so far, Apple’s AI strategy has involved avoiding hefty capital expenditures while Microsoft, Google, Amazon and Meta commit to hundreds of billions of dollars a year in combined capex to fund new data centers and fill them with pricey AI chips.

Business

NCC, CBN launch telecom industry portal to track fraudulent phone lines

“This means banks and other financial institutions can determine whether a line is active, swapped, disconnected, or reassigned to another subscriber.”

Published

1 day ago

April 21, 2026

OCHEFA

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The Nigerian Communications Commission (NCC), and the Central Bank of Nigeria ( CBN), have launched a portal that enables financial institutions to track fraudulent and suspicious phone lines across the country.

It is called the Telecoms Identity Risk Management System (TIRMS) portal , aimed at providing financial institutions with real-time visibility into the status of phone numbers used for transactions.

“The portal aggregates data on churned or recycled lines and numbers flagged for suspicious activities.

“This means banks and other financial institutions can determine whether a line is active, swapped, disconnected, or reassigned to another subscriber,” said the Executive Vice Chairman of NCC, Dr. Aminu Maida.

Speaking during the MoU signing event, Maida said that the agreement provides a structured framework for cooperation in critical areas, including payment system integrity, fraud mitigation, digital inclusion, and consumer protection.

On his part, Governor of CBN, Mr. Olayemi Cardoso, said the MoU would strengthen coordination on regulatory approvals, technical standards, and innovation initiatives, including sandbox testing.

He noted that the partnership aligns with the apex bank’s commitment to promoting a secure, resilient, and inclusive financial system.

Business

FG allocates Flour Mills’ Golden Sugar 300,000MT annual production target

Golden Sugar Company, a subsidiary of Flour Mills of Nigeria PLC, currently cultivates about 6,600 hectares, producing about 20,000 metric tonnes of sugar yearly, according to the Group Chief Executive Officer of GSC, Boye Olusanya.

Published

2 days ago

April 20, 2026

OCHEFA

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Photo: Director of Strategy and Stakeholder Relations at Flour Mills of Nigeria Plc, Sadiq Usman (left); Head, Strategy and Performance Management at the National Sugar Development Council (NSDC), Ms. Edirin Akemu; Group Chief Executive Officer of Golden Sugar Company (GSC), Boye Olusanya; Minister of State for Industry, Senator John Owan Enoh; Executive Secretary/Chief Executive Officer, NSDC, Kamar Bakrin and GSC General Manager, Anlo Du Pisani; during the Minister’s visit to the GSC Complex in Sunti, Niger state.

The Minister of State for Industry, John Owan Enoh, has urged the Golden Sugar Company (GSC) to expand its yearly production capacity to 300,000 metric tonnes by 2030.

The Ninister, accompanied by the Executive Secretary of the National Sugar Development Council (NSDC), Kamar Bakrin, gave the charge when he visited the GSC Complex in Sunti, Niger state.

The Minister noted that the current local sugar production in the country is a long distance away from the 1.8 million metric tonnes that the country consumes yearly, adding that, the GSC must contribute 300,000 metric tonnes in the year 2030.

He commended the management of the company for the employment of about 4,500 workers, emphasising that the government’s requirement for gainful employment is itself achieved here.