The Dangote Sugar Refinery, a subsidiary of the Dangote Group, is expanding its sugar business by investing an additional $700 million.

The CEO of Dangote Sugar Refinery, Ravindra Singhvi, told journalists in Lagos during the 2025 Lagos International Trade Fair, that the money is going into land development, equipment, infrastructure, training, and community engagement, to build a supply chain that can produce enough raw sugar locally to meet domestic demand and support future manufacturing expansion.

The sugar packs, according to him, will come in 100g, 250g, 500g and 1kg sizes, broadening access to households and small businesses.

Fatima Aliko-Dangote, the conglomerate’s Group Executive Director of Commercial Operations, added that the company’s wider goal remains the same – to strengthen Nigeria’s industrial base and keep more of the value chain within the country.

According to her, industrial expansion offers the strongest path to job creation and can help support smaller businesses that rely on local manufacturing.

Africa’s richest man, Alhaji Aliko Dangote, has linked the North’s slow economic growth and rising insecurity to decades of policy inconsistency and chronic electricity shortages.

Dangote spoke today during the Arewa Consultative Forum (ACF) 25th anniversary dinner in Kaduna State.

He told the ACF leaders that  many promising northern industries collapsed because government policies “kept shifting the goalpost,” eroding investor confidence.

He recalled that Arthur Andersen (now part of KPMG) was commissioned to study why northern textile magnates and other industrialists failed despite strong starts.

The findings, he said, pointed largely to unpredictable government policies and an unreliable power supply.

Dangote disclosed that his group connects to public electricity to public electricity only in South Africa and Ethiopia, because of Nigeria’s unstable grid.

“Without electricity, you cannot have growth, no matter how hard you try,” he warned.

He added that today’s insecurity — banditry, youth joblessness and economic displacement — is a direct consequence of long-standing neglect.

Dangote urged northern leaders to commit to a coherent, long-term economic roadmap anchored on education, industry and agriculture, aligning with the transformation agenda highlighted by the former Vice President Atiku Abubakar.

Atiku stressed that the ACF was conceived not only to foster political harmony, but to drive development in line with the vision of Sir Ahmadu Bello.

He cited the Sardauna’s 1961 priorities — education, agriculture and industrial growth — noting that they remain more urgent today than ever.

He outlined past initiatives such as the Northern Education Project, which exposed the region’s crumbling school system and triggered reforms that boosted enrolment and transition rates.

He also referenced the Northern Development Project, NDP, which sought to rebuild agricultural value chains and address climate-induced productivity challenges.

Yet, he lamented that key obstacles— from energy poverty to multiple taxation — still plague northern industries two decades on.

In a resounding vote of confidence from the investment community, Lagos State has concluded its bookbuild for a groundbreaking bond issuance, exceeding all expectations and demonstrating strong investor appetite.

The State’s offering, comprised of a ₦200 Billion Conventional Bond and a ₦14.8 Billion Green Bond, has been met with extraordinary enthusiasm, paving the way for crucial infrastructure projects across the bustling metropolis.

The conventional bond, originally slated for ₦200 billion, received an astounding 55% oversubscription, attracting a remarkable ₦310 billion in investment commitments.

This signifies the robust trust investors have in Lagos State’s economic prospects and its commitment to sustainable growth.

Adding to the success, the ₦14.8 billion Green Bond, designed to finance environmentally friendly projects, was met with an even greater level of enthusiasm.

It attracted a phenomenal ₦29.29 billion in subscriptions, representing a staggering 97.7% oversubscription.

This underscores the growing global interest in sustainable investments and Lagos State’s commitment to a greener future.

This historic achievement highlights Lagos State’s financial strength and its ability to attract significant investment to drive its ambitious development agenda.

The proceeds from these bonds will be instrumental in funding vital infrastructure projects, enhancing the quality of life for residents, and fostering economic prosperity across the state.