Business
Obasanjo: “Aliko Embarrass Me”
He got all his workers together in that refinery and said, without telling me, and there, said…
Former President of Nigeria, Olusegun Obasanjo, has described Aliko Dangote as his “boss”, crediting the businessman’s industrial achievements to the policies and encouragement provided by his administration.
Obasanjo said this while speaking at the groundbreaking ceremony of the Dangote East Africa Refinery in Lamu, Kenya, where he recalled his recent visit to the Dangote refinery and the businessman’s acknowledgement of the role he played in his transition from cement importation to production.
He said, “About two months ago, three months ago, I visited the refinery which you visited last week. And I just couldn’t stop being surprised what Aliko did. But then Aliko embarrassed me.”
According to Obasanjo, Dangote had gathered his workers during the visit and publicly attributed part of his success in cement production and the eventual development of his refinery to the policies and encouragement of the former president.
He said, “He got all his workers together in that refinery and said, without telling me, and there, said, all of you working here, all of you, the man you have to thank is this man, that’s me. I didn’t have anything to do with his refinery or what it is.
He said, without this man, I would not have been in cement production.“And it is the cement production that provided the encouragement, the inspiration for the refinery. So, thank you. They all shouted and thanked me.”
Obasanjo said Dangote had expanded the opportunities created by his administration beyond Nigeria, particularly through cement production across Africa, and was now replicating the model in the petroleum refining sector.
“May God continue to expand your coast. And you are my boss. You will continue to be my boss.”
Business
Dangote Cement Shelves $18 billion Listing On LSE
Its shares will remain listed on the Nigerian Exchange, and the decision will not affect its operations or business plans.
Dangote Cement Plc has abandoned plans for a secondary listing of $18 billion on the London Stock Exchange and preferring to keep its shares exclusively on the Nigerian Exchange (NGX).
The decision , according to the company is because the LSE has been struggling to attract major new listings as companies increasingly reconsider their presence on the UK bourse.
In May this year , Aliko Dangote said that he was holding early discussions about a potential London listing.
The move would have given the company access to a broader pool of international investors and additional sources of capital.
However, the company said on Tuesday that it had abandoned the plan, citing market conditions and strategic priorities. Its shares will remain listed on the Nigerian Exchange, and the decision will not affect its operations or business plans.
Business
I sold heavy weapons internationally – Orji Kalu
“Yes, so I stopped because my parents, my mother, my father came and said I must stop, and I stopped,” he said.
The Senator representing Abia North, Orji Kalu, has disclosed that he previously engaged in the international trade of heavy weapons, selling arms to buyers in different countries before quitting the business at the insistence of his parents.
Kalu made the revelation during an interview on Arise Television on Monday, while discussing his business background and relationships with former and current South African leaders.
Asked whether he was an arms dealer, the former Abia State governor answered in the affirmative, saying he stopped after his parents intervened.
“Yes, so I stopped because my parents, my mother, my father came and said I must stop, and I stopped,” he said.
Asked whether he sold weapons to people who intended to use them to kill others, Kalu dismissed the suggestion, saying his motivation was to make money.
“No, no, no, no, no, no. I was selling guns to make money, whether they blow up it’s not my business,” he said
Business
Dividends: Airtel Africa To Pay Nigerian Shareholders USD N1,347.44 / Share
For London investors, the sterling equivalent was fixed at $1 to £0.7464
Airtel Africa Plc says it will pay its 3.1 US cents interim dividend at a dollar-to-naira conversion rate of N1,347.44.
That translates to about N41.77 per qualifying share for Nigerian investors.
The company disclosed the rate in a notice filed with the Nigerian Exchange (NGX).
The interim dividend is 3.1 US cents per ordinary share, a 9.2% increase from the previous year’s payment.
The approved naira rate is about 7.5% lower than the N1,456 per dollar that applied to the corresponding 2025 interim dividend.
Both the naira and sterling conversion rates were derived from dollar exchange rates available on October 30, 2026.
For London investors, the sterling equivalent was fixed at $1 to £0.7464. That puts the payment at approximately 2.31 pence per share.
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