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MTN Nigeria moving headquarters to Eko Atlantic 

As part of this commitment, we have acquired a piece of land in Eko Atlantic City, and we will commence construction once we have gotten the equipment,” said  Toriola

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MTN Nigeria is relocating its corporate headquarters from Falomo- Ikoyi, to the Eko Atlantic City.

MTN Nigeria CEO, Karl Toriola, disclosed this during the MyLagosApp launch event in Lagos, yesterday.  Toriola said that the company’s new headquarters will be situated in Eko Atlantic, four years after it  announced plans to build a new head office. 

MTN will be the first telecom operator to build in the coastal city, signaling confidence in its potential as one of the premier business hubs in Nigeria. “Beyond connectivity, we are committed to making long-term investments in Lagos.

As part of this commitment, we have acquired a piece of land in Eko Atlantic City, and we will commence construction once we have gotten the equipment,” said  Toriola.

He added that MTN Nigeria is also constructing West Africa’s largest Tier 4 data center in Lagos.

The facility will house 1,500 racks and operate as a carrier-neutral hub, allowing multiple Internet Service Providers (ISPs) and cloud service providers to interconnect.

Toriola said that the data center will not be situated within Eko Atlantic but on the Lagos mainland. 

“With seven degrees of connectivity, this facility will be the most sophisticated data hub in the region, further strengthening Nigeria’s position as a leader in digital transformation,” Toriola 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.

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*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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CPPE Urges Sustained Support for High-Performing Sectors and Targeted Assistance for Sectors in Recession

The sectors currently in recession include air transport, textiles, and coal mining.

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•Dr Jumoke Oduwole, Minister of Industry Trade and Investment

The Centre for the Promotion of Private Enterprise (CPPE) has called for ongoing lending support for high-performing sectors of the economy and targeted intervention for sectors currently in recession.

This appeal follows the recently rebased Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS), now based on a new reference year 2019.

The latest GDP data for Quarter 1 of 2025 reveals the following:- 37 sectors recorded growth, though many experienced a slowdown.- 9 sectors contracted, and 3 sectors are in recession.

The top-performing sectors include:- Financial Services: 15.3%- Oil Refining: 11.51%- Transportation: 14.08%- Information and Communication Technology (ICT): 7.4%- Metal Ores: 25%Conversely, the sectors that contracted are:- Livestock: -16.7%- Fishing: -0.21%- Textiles: -1.63%- Coal Mining: -22.3%- Quarry & Minerals: -21.55%- Plastics and Rubber: -3.2%- Iron & Steel: -0.35%- Air Transport: -0.81%.

The sectors currently in recession include air transport, textiles, and coal mining.

Dr. Muda Yusuf, director and CEO of CPPE, emphasised the importance of enhancing productivity in critical areas such as agriculture, manufacturing, and trade.

He stated, “These sectors are essential for economic inclusion, job creation, self-reliance, economic security, and diversification.

However, their growth rates are currently below expectations: agriculture grew by only 0.7%, and manufacturing by 1.7% in Q1 2025.

These sectors require targeted interventions to unlock their full potential and drive sustainable development.”

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Dangote refinery gets new CEO

David Bird is the former head of Oman’s Duqm Refinery

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The Dangote Petroleum Refinery and Petrochemicals has appointed David Bird, the former head of Oman’s Duqm Refinery, as its new Chief Executive Officer.

A report by S&P global on Friday said, Bird heads the refinery’s petroleum and petrochemicals division in a strategic move to overcome production challenges and advance its next wave of expansion.

Effective from July 2025, the former Shell head of operations at its Balau Pokom refinery stepped in as CEO of the Dangote Group’s fuels and petrochemicals business, which commissioned the world’s largest single-train refinery last year.

The CEO participated at the just concluded Dangote Leadership Development Program Graduation Ceremony.

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