Business
Food And Beverage Unions Join Forces With MAN To Battles NAFDAC Ban On Sachets Alcohols
MEMBERS of the Food Beverage and Tobacco Senior Staff Association, a branch of the Trade Union Congress, the National Union of Food Beverage and Tobacco Employees, and the Nigerian Labour Congress paid a solidarity visit to the Manufacturers Association of Nigeria (MAN).
This was in protest against the ban on the production of alcohol in sachets and PET bottles of less than 200ml by NAFDAC.
The unions expressed their displeasure with the enforcement of the ban, stating it is unkind, illegitimate, and a threat to their livelihood.
They emphasized that the act is uncharitable, given the current economic challenges.
The DG of MAN welcomed the protesters and appreciated their peaceful approach.
He agreed that the government needs to consider the human impact of its policies.
Manufacturers have spent more than a billion naira in the last five years on campaigns that NAFDAC should have conducted.
He stated that the production of alcoholic beverages is legal, and the claim that underage individuals consume the products due to the small packaging lacks empirical data.
He assured the protesters that MAN supports their cause and has issued a press release urging NAFDAC and the government to reconsider their position.
He highlighted that manufacturers have spent more than a billion naira in the last five years on campaigns that NAFDAC should have conducted.
The DG emphasized that the two critical desires expressed by the stakeholders were to prevent underage access to the product and to allow businesses to survive.
He assured the unions that the association would do its best to persuade the relevant authorities to reconsider the ban.
He concluded by appreciating the unions for their commitment to protecting Nigerian jobs and further highlighted that The RENEWED HOPE AGENDA of Mr. President cannot be served by getting people out of jobs.
Business
TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.
Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.
The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.
Moniepoint is also the only African company represented on the inaugural list.
Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.
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Business
Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.
The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.
Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline and power plant, and a polypropylene packaging facility, in Ethiopia.
The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.
Developers say the infrastructure will strengthen energy security and improve supply chain resilience for the two countries, he said.
Abiy is on a visit to Djibouti and made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
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