Business
JETRO Hails Dangote for Advancing Nigeria Technologically
Vice President of Oil and Gas, Dangote Industries Limited, Devakumar Edwin, commended the ambassador-designate and his team for the visit
The Managing Director of the Japan External Trade Organisation (JETRO), Takashi Oku, said that Nigeria’s population is not only growing but also advancing in technological advancements, citing the magnificent Dangote Petroleum Refinery and Petrochemicals complex.
Takashi Oku made the remark during a tour of Dangote Refinery and Petrochemicals complex by a delegation from the Japanese Business Community in Nigeria, led by Japan’s Ambassador-designate to Nigeria, Suzuki Hideo.
The Japanese delegation, which toured the impressive facilities housing both the Dangote Petroleum Refinery and Petrochemicals as well as Dangote Fertilisers, commended the state-of-the-art technology on display, noting that it reinforces Nigeria’s role as the gateway to Africa.
Takashi Oku, added: “We had heard about the excellence of the Dangote Refinery through the media but seeing it in person has left us truly amazed by its vastness and grandeur.
“It demonstrates that Nigeria’s population is not only growing but also advancing in technology.
We are keen to collaborate with Nigerian companies, especially Dangote Refinery,” he said.
The Managing Director of Itochu Nigeria Limited, Masahiro Tsuno, also praised the sheer size and automation of the Dangote Refinery, calling it a miracle and one of the wonders of the world.
“I’ve seen many standalone refineries across the globe, including in Vietnam and the Middle East.
However, this size of a refinery built by one single investor is probably a miracle in the world. And I’m just actually witnessing a miracle, to be honest, today,” he said.
Tsuno indicated that his company would seek collaboration with the refinery across various sectors, including polypropylene and other petroleum products.
Vice President of Oil and Gas, Dangote Industries Limited, Devakumar Edwin, commended the ambassador-designate and his team for the visit
Edwin assured the ambassador-designate and the delegation that the company is open to collaboration, always striving to maintain the best possible standards.
“Even now, we have a lot of Japanese equipment inside both the refinery and the fertiliser plant. There are significant opportunities for collaboration, as we always seek the latest technology in any business we engage in.
“For instance, our cement plant laboratory is managed by robots, and we always embrace advanced technology.
With Japan’s focus on technological innovation, there is ample scope for cooperation and for supplying various types of technology,” he said.
Business
Wema Bank Announces Grand Event for International Women’s Day 2026 on March 4
Wema Bank, Nigeria’s oldest indigenous financial institution and pioneer of Africa’s first fully digital bank, ALAT, has announced it will host its highly anticipated 2026 International Women’s Day (IWD) Grand Event on Tuesday, March 4, 2026.
The event, described by the bank as the industry’s biggest celebration of its kind, aligns with the global IWD 2026 theme “Give To Gain.” Wema Bank has adopted the sub-theme “When Women Gain, We Grow,” emphasizing the transformative impact of supporting and investing in women across personal, professional, and societal levels.
According to Managing Director/CEO Moruf Oseni, the initiative underscores the bank’s long-standing commitment to women’s empowerment and gender inclusion, in line with United Nations Sustainable Development Goal 5.
Through its women-focused proposition, SARA by Wema (launched in 2019), the institution has consistently championed programs like SARA Gives and the Big Sister Graduation Challenge to uplift women at every stage.
The March 4 event is expected to feature keynote addresses, fireside chats, panel discussions, networking sessions, and opportunities to convene top women leaders from diverse industries alongside everyday women navigating their paths to success.
It aims to foster actionable conversations on empowerment, leadership, and collective growth.
Registration is now open via the official portal at wemabank.com/iwd, with the bank encouraging early participation to secure spots.
This announcement builds on Wema Bank’s history of impactful IWD celebrations and reinforces its dedication to promoting gender equality and women’s advancement in Nigeria and beyond.
Further details on the venue, speakers, and full agenda are expected to be released in the coming weeks.
Business
Dangote expands daughters’ roles as succession plan accelerates
Mariya Dangote, who joined the board of Dangote Cement last July following her father’s retirement as chairman, will now oversee commercial strategy for the cement business.
• Aliko Dangote and his daughters
Aliko Dangote, Africa’s richest man, has assigned expanded leadership roles to his three daughters as part of preparations for the future of his industrial conglomerate, which he aims to grow into a $100 billion business within the next four years.
According to Business Day, an internal memo confirmed by a company spokesperson, Halima, Fatima and Mariya Dangote will take on broader responsibilities across key divisions of the Dangote Group, signalling a deliberate shift towards the next generation.
Fatima Dangote, the youngest, will assume a senior commercial role within the group’s energy division, which includes its Lagos-based oil refinery.
She will continue to oversee corporate communications and administration for the wider group.
Halima Dangote, who currently manages the family office in Dubai, will extend her oversight to its London operations while supporting the company’s international expansion efforts.
Mariya Dangote, who joined the board of Dangote Cement last July following her father’s retirement as chairman, will now oversee commercial strategy for the cement business.
She will also take on responsibility for shaping strategy across the group’s food operations in all markets.
In the memo, the company said that the appointments were intended to “empower a new generation to take on expanded responsibilities in shaping our future.
”The changes mark a clear step in Dangote’s succession planning, transferring more operational authority to his daughters while he retains overall strategic control.
Business
Dangote Forecasts Major Naira Appreciation to ₦1,100 per Dollar in 2026
Africa’s richest man and Chairman of the Dangote Group, Aliko Dangote, on Tuesday projected a significant strengthening of the Nigerian naira, forecasting it could rally to as low as ₦1,100 per US dollar within 2026, driven by government reforms, import restrictions, and increased local production.
Speaking at the official launch of the National Industrial Policy 2025 in Abuja, attended by Vice President Kashim Shettima and other dignitaries, Dangote expressed optimism about the currency’s trajectory amid ongoing economic measures.
“Today, the dollar is N1,340. Mr Vice-President, I can assure you that, with what I know, by blocking all this importation and so on, the naira this year will be as low as N1,100 if we are lucky,” Dangote stated, according to multiple reports from the event.
He attributed the potential appreciation to reduced foreign exchange demand from imports, as local manufacturing ramps up including contributions from his own Dangote Petroleum Refinery, which is scaling toward full capacity. Dangote praised recent policy directions for beginning to yield positive results, noting that manufacturers are increasingly optimistic.
The forecast comes as the naira has shown signs of stabilization in recent weeks, trading around ₦1,300–₦1,340 to the dollar in official and parallel markets, a marked improvement from higher levels earlier in the year.
Dangote suggested that sustained import controls and industrial growth could push the currency even further, potentially toward ₦1,000 per dollar under ideal conditions, though he cautioned that policy consistency would be key.
The remarks align with broader optimism in some quarters, including from billionaire Femi Otedola, who recently projected the naira could trade below ₦1,000/$ before year-end, largely crediting the Dangote Refinery’s role in cutting dollar outflows for fuel imports.
Dangote also highlighted challenges, emphasizing the need for reliable power supply and continued government incentives to support industrial expansion and sustain the projected currency rally.
Analysts view the prediction as bullish but contingent on factors like forex policy enforcement, oil revenues, and global commodity prices.
The naira’s performance has been volatile in recent years due to external pressures and domestic structural issues, but recent CBN interventions and refinery developments have fueled renewed confidence among investors.
The statement has sparked discussions on social media and economic forums, with many welcoming the positive outlook while others call for concrete actions to realize such gains for everyday Nigerians facing inflation and import costs.
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Business20 hours agoDangote Forecasts Major Naira Appreciation to ₦1,100 per Dollar in 2026
