Business
Vice Chancellors Hail Dangote’s Impact on Nigeria’s Agricultural revolution

President of Dangote Group, Aliko Dangote has been hailed as a foremost entrepreneur whose laudable interventions in the agricultural sector in Nigeria should be applauded and emulated by others.
Many Nigerian University Vice Chancellors, under the auspices of Committee of Vice-Chancellors who were at the Dangote Fertiliser plant on a familiarisation visit over the weekend, marveled at the huge financial resources invested in the Plant.
The university heads unanimously agreed that Dangote should be specially recognised for his contribution on agricultural revolution in Nigeria, through his fertiliser project.
Secretary of Committee of Vice-Chancellors of Nigeria, Prof. Yakubu Ochefu, said all Nigeria needed for real growth and development in all sectors of the economy was just to have five of Aliko Dangotes.

He urged other Nigerian billionaires to take a cue from Dangote and invest heavily in manufacturing, to significantly reduce the high unemployment rate among the youth and ameliorate the sufferings of many Nigerians.
According to him: “We decided to come and see organisation wellness and resilience in action, and we know that Aliko is one of the most resilient entrepreneurs this country has ever produced, so, it is important to come and have a feel of that action.
“We came to see how one man’s dream and vision and big picture can translate into something like this and I can say that this visit has exceeded all our expectations because nothing you see on television or even read in Newspapers can match the reality when you come here physically and see this massive edifice and process in place.
“Dangote is an enigma and like I said earlier, if we have five of his types across Nigeria or across Africa, this country and continent will be a different story entirely. We are truly very proud of him…”

Speaking after the tour of the Fertiliser Plant, Vice Chancellor of the Federal University of Technology, Owerri, Prof. Nnenna Oti described the Plant as impressive and lauded the synergy between Lagos State Government and Aliko Dangote, a man from Kano State, describing the union as what Nigeria should really represent.
She said: “This plant is quite impressive. We wish we had more Nigerians who are investing in our country, creating opportunities and solving real problems as well as giving back to society as Aliko Dangote is doing…
“What is more impressive is that somebody from a different part of the county has enough confidence in another part of the country and there is this synergy between the different elements, the cooperation from the Lagos State Government and a man from Kano…this is the Nigeria of my dream,” she added.
Prof. Ibiyemi Olatunji-Bello, Vice Chancellor of the Lagos State University (LASU), also expressed satisfaction at the operations in the factory, noting that the 3 million tonnes of granulated Urea factory would go a long way in solving the food problems in Nigeria.
She said: “This trip to Dangote Fertiliser has been awesome. …when the president said that there was going to be a state of emergency against poverty, we now know that Dangote is contributing enormously to the growth of the nation, to the availability of food security, through the provision of fertiliser, which is an important component in crop and food production…
“I am very impressed. This factory is enormous, huge funds have gone into it and it will have a positive effect on the nation’s economy. The likes of Aliko Dangote are rare, and Nigeria should be thankful for having a bold man that is always willing to take huge risks, in our midst,” she added.
In the same vein, the Vice Chancellor of the University of Jos, Tanko Ishaya, urged the Federal Government to specially recognise Aliko Dangote, as he has braved the odds to provide real solution to one of the key problems, facing the country: food security.
He said: “We have all gone round the factory and I must confess that this is a fantastic environment, and we want to congratulate the President of Dangote Group for having that vision and for implementing the vision.”
Recall that the Dangote Urea Fertiliser plant was built to tap into Nigeria’s demand for fertiliser, a critical component of achieving food sufficiency for Africa’s most populous country.
The Fertiliser plant is manufacturing 3 million metric tonnes of urea per annum, with a view to reducing the nation’s fertiliser imports, and generating over $400m annual foreign exchange from export to Africa countries.
Managing Director/CEO, Dangote Fertiliser Limited, Vishawajit Sinha, revealed that the Plant which has the capacity to turn out more than 4,500 tonnes of urea per day will conveniently meet the local demand and even produce for exports.
According to him: “…We have the capacity to turn out 4,500 tonnes of Urea every day…this is a bulk application fertiliser…each crop in Nigeria or globally will require Nitrogen and this is a rich fertiliser, having 46 per cent nitrogen…The company has the capacity to meet local demand and export to African countries.”
The plant, which is the largest granulated Urea fertiliser complex in Africa, occupies 500 hectares of land, was built at a cost of $2.5 Billion, and is expected to reduce drastically level of unemployment and youth restiveness in the country through employment opportunities.
The plant is expected to generate new jobs with top quality fertiliser being available and in sufficient quantities for the farmers.
Business
Nigeria’s economy grows 3.7% in H1- Stanbic IBTC report
Muyiwa Oni, Head of Equity Research, West Africa at Stanbic IBTC Bank, said that the estimated 3.7 percent year-on-year GDP growth aligns with expectations for annual growth of 3.5 percent.

• President Bola Tinubu
The Nigerian economy grew by 3.7 percent in the first half of 2025, driven by improved business conditions and increased oil production.
This was revealed in the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) report compiled by S&P Global and released on Tuesday.
Earlier, the World Bank estimated that Nigeria’s economy would grow by 3.6 percent in 2025, higher than the 3.4 percent recorded in 2024, despite shifts in global trade dynamics.
This projection is lower than the Central Bank of Nigeria’s estimate of 4.17 percent and the ambitious 5.5 percent GDP growth forecasted by the Nigerian Economic Summit Group in January.
Muyiwa Oni, Head of Equity Research, West Africa at Stanbic IBTC Bank, said that the estimated 3.7 percent year-on-year GDP growth aligns with expectations for annual growth of 3.5 percent.
He said, “Insights from the monthly PMIs and crude oil production data from the Nigerian Upstream Petroleum Regulatory Commission suggest an economy that grew by an estimated 3.7 per cent y/y in H1 2025, supported by higher crude oil production and improved growth in manufacturing and services, while agriculture continues to lag its long-term average growth rate of 3.6 per cent.”
Business
Lagos Declares Manufacturing, Selling, Distributing single-use Plastics a Crime
Wahab called on the public, particularly business owners, food vendors, and market traders, to cooperate with the government to ensure a cleaner, safer, and more sustainable Lagos.

• Tokunbo Wahab
The Lagos State Government has announced the commencement of full enforcement of the ban on the use and distribution of Single-Use Plastics (SUPs) across the state, effective July 1, 2025.
Mr. Tokunbo Wahab, the Commissioner for the Environment and Water Resources, made the announcement on Tuesday during a media briefing held at Alausa, Ikeja.
He emphasized that offenders will be prosecuted in line with the State’s Environmental Laws.
Wahab stated that the decision to enforce the ban follows an 18-month transition period granted to residents, manufacturers, and vendors to adjust and adopt more sustainable alternatives.
“The decision to ban Single-Use Plastics in Lagos was not arbitrary. It was an existential one, influenced by multiple factors,” he said.
Wahab explained that Lagos, a coastal city situated below sea level with the smallest land mass in the country—just 3,575 square kilometers—houses about 10 percent of Nigeria’s population.
“That alone is a recipe for environmental crisis. We did not just wake up whimsically and choose to ban styrofoam food packs in 2024.
We had always stated that within the next 12 months, all single-use plastics would follow.
Now, nearly 18 months later, we believe ample time has been given for all to transition. Enforcement starts July 1, and heavens will not fall.
Banned Items and Reasons
Styrofoam Packs: Banned due to their non-biodegradable nature and harmful environmental impact.
Plastic Straws: Prohibited to reduce plastic waste and promote eco-friendly alternatives.
Disposable Plastic Cups and Cutleries: Banned to curb single-use plastic pollution.
Lightweight Nylon Bags: Outlawed because they are not reusable or biodegradable, contributing significantly to environmental degradation.
Wahab called on the public, particularly business owners, food vendors, and market traders, to cooperate with the government to ensure a cleaner, safer, and more sustainable Lagos.
Business
BREAKING: Dangote refinery Reduces petrol price from N880 to N840 per litre

….New rate takes effect from June 30.
The Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit, popularly known as petrol, from N880 to N840 per litre.
Anthony Chiejina, the Spokesman for the Dangote Group, confirmed the price adjustment on Monday night.
Chiejina said the new rate took effect on June 30.
He said, “PMS price has been reduced from N880 to N840 per litre effective 30th June,.
Recall that Dangote refinery hiked the price of petrol to N880 as tension escalated during the 12-day crisis between Israel and Iran, raising the price of crude oil to almost $80 per barrel.
Also, marketers anticipated that there would be a new price regime from Monday.
Dangote’s partners like MRS, Heyden and AP are expected to adjust their pump prices soon.
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