Business

Why Northern Industries Collapse – Dangote

“Without electricity, you cannot have growth, no matter how hard you try,” he warned.

Published

8 months ago

November 22, 2025

OCHEFA

515 Views

Africa’s richest man, Alhaji Aliko Dangote, has linked the North’s slow economic growth and rising insecurity to decades of policy inconsistency and chronic electricity shortages.

Dangote spoke today during the Arewa Consultative Forum (ACF) 25th anniversary dinner in Kaduna State.

He told the ACF leaders that many promising northern industries collapsed because government policies “kept shifting the goalpost,” eroding investor confidence.

He recalled that Arthur Andersen (now part of KPMG) was commissioned to study why northern textile magnates and other industrialists failed despite strong starts.

The findings, he said, pointed largely to unpredictable government policies and an unreliable power supply.

Dangote disclosed that his group connects to public electricity to public electricity only in South Africa and Ethiopia, because of Nigeria’s unstable grid.

“Without electricity, you cannot have growth, no matter how hard you try,” he warned.

He added that today’s insecurity — banditry, youth joblessness and economic displacement — is a direct consequence of long-standing neglect.

Dangote urged northern leaders to commit to a coherent, long-term economic roadmap anchored on education, industry and agriculture, aligning with the transformation agenda highlighted by the former Vice President Atiku Abubakar.

Atiku stressed that the ACF was conceived not only to foster political harmony, but to drive development in line with the vision of Sir Ahmadu Bello.

He cited the Sardauna’s 1961 priorities — education, agriculture and industrial growth — noting that they remain more urgent today than ever.

He outlined past initiatives such as the Northern Education Project, which exposed the region’s crumbling school system and triggered reforms that boosted enrolment and transition rates.

He also referenced the Northern Development Project, NDP, which sought to rebuild agricultural value chains and address climate-induced productivity challenges.

Yet, he lamented that key obstacles— from energy poverty to multiple taxation — still plague northern industries two decades on.

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Business

Naira Exchange Rates Thursday, 23 July

Published

18 hours ago

July 23, 2026

OCHEFA

35 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1,405 Sell ₦1,410

GREAT BRITISH POUND (GBP) Buy ₦1,880 Sell: ₦1,900

EURO (EUR) Buy ₦1,580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,369.63

GREAT BRITISH POUND (GBP) ₦1,833.12

EURO (EUR) ₦1,563.03

SWISS FRANC (CHF) ₦1,685.08

JAPANESE YEN (JPN) ₦8.40

CHINESE YUAN (CNY) ₦202.21

WEST AFRICAN CFA (XOF) ₦2. 39

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,867.90

SAUDI RIYAL (SAR) ₦366.36

SOUTH AFRICAN RAND (ZAR) ₦83.40

Business

President Tinubu Tasks Judicial Officers To Remain Abreast of Evolving Global Maritime Laws

President Tinubu made the call in Abuja during the 18th International Maritime Seminar for Judges, organised by the Nigerian Shippers’ Council (NSC), under the auspices of the Federal Ministry of Marine and Blue Economy, in collaboration with the National Judicial Institute (NJI).

Published

1 day ago

July 22, 2026

OCHEFA

40 Views

President Bola Tinubu on Wednesday urged judges to continually update their knowledge on autonomous vessels, digital shipping, artificial intelligence-driven maritime operations, maritime security and evolving international environmental regulations.

Represented by the Minister of Marine and Blue Economy, Adegboyega Oyetola, President Tinubu lauded the Nigerian Shippers’ Council for initiating and sustaining the international seminar for judges.

He described it as one of Nigeria’s foremost platforms for strengthening maritime jurisprudence, enhancing judicial capacity and promoting excellence in maritime justice.

According to Oyetola , rapid technological advancement is creating unprecedented legal questions relating to liability, navigational responsibility, insurance, collision regulations and allocation of responsibility when autonomous vessels malfunction.

He emphasised that the courts will increasingly adjudicate disputes involving decarbonisation, environmental compliance, blockchain-enabled cargo documentation, electronic bills of lading and other evolving international maritime legal frameworks.

“The emergence of autonomous vessels demands a judiciary equipped to resolve complex legal questions involving liability, insurance, navigation and technological accountability.

“Judicial officers must remain abreast of evolving international maritime law to ensure justice keeps pace with technological innovation,” he said.