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
Trump slams 14% reciprocal tariffs on Nigeria
The 14 percent tariffs imposed on Nigeria, according to Trump, is against 27 percent charged to the US by Nigeria.

US President Donald Trump has slammed a 14 percent reciprocal tariff on all Nigerian goods entering the US as the much talked about “Liberation Day” tariffs comes into effect.
Trump had said that countries would face a tariff rate at half the level they charge the US, as deemed by the White House, with a minimum tariff rate of 10 percent, saying that the calculation included non-monetary trade barriers and currency manipulation.
The 14 percent tariffs imposed on Nigeria, according to Trump, is against 27 percent charged to the US by Nigeria.
The new tariffs, which affected 185 countries, has therefore, ended months of anxious wait and uncertainty, which had plummeted stocks around the US, Europe and Asian markets.
The moves today are the latest escalation of a trade war that also includes plans to impose 25 percent tariffs on all foreign-made vehicles this week.
Accordingly, Trump slammed a baseline tariff of 10 percent across all countries, while upping the duties for various partners whom he described as bad actors with country like Lesotho getting as much as 50 percent levies on their exports to America.
The tariffs will be not a full reciprocal,” he said. “I could have done that, yes, but it would have been tough for a lot of countries who didn’t want to do that.”Auto tariffs of 25 percent will go into effect tomorrow as planned.
Business
Algiers-Abuja direct flights begin April 6

The Ministry of Foreign Affairs on Wednesday, announced the launch of Air Algérie’s inaugural direct flight service from Algiers to Abuja, set to begin on April 6, 2025.
This is said to strengthen the diplomatic and economic ties between Nigeria and Algeria.
According to a statement signed by the Acting Spokesperson for the Ministry, Kimiebi Ebienfa, the new route, which is the result of the Bilateral Air Services Agreement between the two countries, will be operated by the national carrier, Air Algérie, using a Boeing 737 aircraft.
This new service is expected to boost connectivity, encourage tourism, and facilitate trade and investment between Nigeria and Algeria.
“The Ministry of Foreign Affairs is pleased to announce the commencement of Air Algerie’s inaugural direct flight service from Algiers to Abuja, scheduled for 6th April 2025.
“This historic development marks a significant milestone in the growing diplomatic and economic relations between Nigeria and Algeria.
“It is pertinent to state that it is the implementation of the Bilateral Air Services Agreement between both countries, which culminated in this successful venture,” the statement read in part.
The inaugural flight is expected to carry the Charge d’Affaires of the Nigerian Embassy in Algiers, Nigerian community leaders, and representatives from the Algerian government.
The Federal Government has extended congratulations to Air Algérie and offered its full support to ensure the success of the new service.
With affordable fares and Algeria’s proximity to Europe, the flight also offers Nigerians a convenient gateway to Europe, enhancing Nigeria’s position as a regional hub for business, tourism, and transit.
The statement added, “The Federal Government of Nigeria, through the Ministry of Foreign Affairs and relevant aviation authorities, extends its warm congratulations to Air Algerie and assures all necessary support to ensure the success and sustainability of this new service.
“We believe this initiative will further strengthen the longstanding friendship between Nigeria and Algeria, while opening new opportunities for mutual growth.
“The affordable fare structure and the proximity of Algeria to Europe would also provide Nigerians with a convenient gateway to Europe, thereby enhancing Nigeria’s position as a regional hub for business, tourism, and transit.”
The ministry encouraged citizens and businesses to take advantage of this new connectivity to explore opportunities for trade, tourism and cultural exchanges between the two nations.
Business
FG borrows N13.21trn from World Bank in 20 months
The country’s debt profile has hit N142 trillion, according to data published by the Debt Management Office (DMO).

The World Bank has approved over N13.21 trillion ($8billion) as loans for different developmental projects for President Bola Ahmed Tinubu-led federal government in the last 20 months,
Daily Trust analyses of the various loans indicated that they were targeted at several interventions in various sectors of the economy with three fresh loans amounting to $1.1 billion approved between Friday and yesterday.
The country’s debt profile has hit N142 trillion, according to data published by the Debt Management Office (DMO).
The 2025 budget of N54.99tn has a debt service component of N14.32tn and N13.64tn for recurrent expenditure.
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