Business
Shippers Council Pushing for Cargo Movements By Rail
The Executive Secretary of the Nigerian Shippers Council, Barrister Pius Akutah, has assured that the council will continue to push for policies that can enhance the expansion of the rail system as a major means of cargo movement from the seaport to the hinterland.
The executive secretary gave the assurance, yesterday, when he toured the Kaduna Inland Dry Port.
He said the benefits of the Memorandum of Understanding (MoU) that the council has entered into with the Nigerian Railway Corporation (NRC) were enormous noting that the efforts were being made to ensure the standard gauge from Lagos to Kano is achieved.
He highlighted the benefits of moving cargo by rail from sea ports to hinterland, he said it will reduce accidents and take away pressure on the roads.
He added, “We have saved this country billions of Naira from performing our roles through our dispute resolution.
Moves are however being made to transform the shippers bill into law to make the council a regulatory agency to address high tariffs and bring in competition so we get back the market we are losing to neighbouring countries.
He then assured that the Cargo Defence Fund will be administered to the shippers according to the judgment of the Supreme Court and urged the shippers association to be more innovative and reduce the physical handling of goods.
He informed that the council is taking steps to ensure the Legal Regime Bill, which is pending before the National Assembly is fast tracked so it can be passed by the end of the year in order to bring shipping services closer to the hinterlands.
He said that he will engage the Kaduna State government to see how the access road to the port can be completed.
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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