Industry

All Posts in "Industry"

MAN Mourns Former President Muhammadu Buhari, Calls it a Great Loss to the Nation

World leaders mourn former President Muhammadu Buhari | Premium Times Nigeria

By Fidelia Okafor

The Manufacturers Association of Nigeria (MAN) joins the nation in mourning the passing of former President Buhari GCFR.

Former President Muhammadu Buhari GCFR served the nation, first as a military leader, and more recently as a civilian President from 2015 to 2023, during which he implemented policies aimed at promoting economic growth, improving infrastructure, and enhancing Nigeria’s industrial development.

His tenure brought attention to the importance of manufacturing as a driver of economic development and job creation. Though the economy experienced difficulties during his tenure, President Buhari granted the Association audience to proffer solutions to mitigate the binding constraints that limited the performance of the manufacturing sector. He also provided solutions to some of the challenges confronting manufacturers.

According to Otunba Francis Meshioye OFR, President of the Association, “we extend our heartfelt condolences to his family, associates, and all Nigerians during this solemn time”.

As the nation reflects over the life and career of President Muhammadu Buhari, MAN calls upon all Nigerians to honour his memory. We should also reflect on his achievements and continue to work toward the advancements of manufacturing. Government should reflect over his policies and recommit to the creation of a conducive atmosphere for sustainable economic development and the upliftment of the overall wellbeing of the citizenry.

by Online Poster — July 16, 2025 in Industry 0

FirstBank, NLNG, Shell Back QEDNG Creative Powerhouse Summit

By Winifred Bosa

Nigeria’s leading commercial bank, First Bank of Nigeria, has joined forces with Mighty Media Plus Network Limited for the maiden edition of the QEDNG Creative Powerhouse Summit.

Also supporting the event are Nigeria LNG (NLNG) and Shell Nigeria, two major players in the country’s energy and development sectors.

Chief Executive Officer of Mighty Media Plus Network Limited, Olumide Iyanda, announced the partnerships in a statement on Monday.

Mr Iyanda described FirstBank’s involvement as a strong statement of the bank’s belief in the power of Nigeria’s creative sector.

“FirstBank’s support is a reaffirmation of its long-standing commitment to promoting the creative economy,” he said. “Through First@arts, the bank has become a reliable partner to talents, institutions, and organisations working to grow Nigeria’s cultural assets.”

First@arts is FirstBank’s platform for supporting the arts. It provides financing, advisory services, and exposure for creatives across the value chain. The bank has backed major cultural events and partnered with institutions such as British Council, Duke of Shomolu Productions, Live Theatre Lagos, Freedom Park and Terra Kulture.

Among the projects FirstBank has supported are The Headies Awards, Lagos International Theatre Festival, The Oxymoron of Kenny Blaq, Kurunmi, Eni Ogun, and Oke Langbodo.

Iyanda also praised NLNG for its role in promoting excellence in literature and science through The Nigeria Prize for Literature, The Nigeria Prize for Science, and The Nigeria Prize for Literary Criticism.

“NLNG has shown leadership by rewarding creativity and innovation in ways that impact both the literary and scientific communities,” he said.

The prizes, worth up to USD100,000, are among the most prestigious on the continent. They celebrate Nigerian authors, critics, and scientists whose work makes a real difference.

Shell’s support for the summit reflects its ongoing commitment to education and social development. The company focuses on sustainable, community-driven educational projects, ranging from scholarships to infrastructure development and ICT donations.

“Shell’s belief in education as a foundation for long-term progress aligns with our vision for the summit,” Iyanda added.

He further noted that more sponsors will be unveiled in the coming weeks.

The QEDNG Creative Powerhouse Summit, themed “Financing as Catalyst for a Thriving Creative Economy,” will take place on Tuesday, August 12, 2025, at 10:00 a.m. The venue is the prestigious Radisson Blu Hotel, Isaac John Street, Ikeja GRA, Lagos.

The summit will bring together creatives, investors, policymakers, and business leaders to explore solutions to the funding challenges facing Nigeria’s creative industries.

by Online Poster — July 15, 2025 in Industry 0

Airtel AI Spam Alert Tackles An Urgent Telecom Problem

In Nigeria today, unwanted messages have evolved from a mere annoyance into a serious security risk. From deceptive investment opportunities to phony bank notifications, spam communications have transformed into complex frauds that target unsuspecting victims.

For numerous Nigerians, starting the day with several spam messages has turned into a regular occurrence. Telemarketing offers, questionable lottery prizes, and phishing schemes inundate mobile inboxes, frequently inundating users with unsolicited messages. Although some communications are simply annoying, others are designed to mislead and take advantage.

In recent years, there has been a rise in fraudulent SMS messages, where scammers mimic banks, government bodies, and reputable companies to obtain sensitive information from people. A report by the Nigerian Communications Commission (NCC) indicates that financial fraud via mobile channels has resulted in substantial monetary losses, causing unsuspecting victims to lose millions of naira.

Consider the scenario of Adebola, a civil servant in Lagos, who got an SMS purporting to be from her bank, urging her to click a link and refresh her account information. Just moments after complying, she noticed that her account had been breached, resulting in thousands of naira being withdrawn before she could respond. Tales such as Adebola’s emphasize the necessity for a strong approach to tackle SMS fraud and unwanted spam messages.

Airtel’s Spam Alert Service: A Historic Innovation

Acknowledging the critical necessity to tackle this problem, Airtel Nigeria, in March 2025, launched its Spam Alert Service, a creative system intended to screen spam messages before they reach users. The service utilizes Artificial Intelligence built by Airtel to examine incoming SMS, detect suspicious patterns, and alert users accordingly.

Airtel’s Spam Alert Service Works in Three Key Ways

Quick Identification: The system automatically identifies suspected spam messages.

User Alerts: When a suspected fraudulent message is detected, users receive an alert notifying them of the potential spam.

User Reporting Feature: Customers can report spam messages by forwarding them to a dedicated short code, helping Airtel enhance its spam alert mechanisms.

With the launch of the Spam Alert Service, Airtel is not only protecting its customers but also strengthening trust in mobile communication. By helping to curb SMS fraud, Airtel ensures that users can engage with their mobile devices with a much-reduced risk of falling victim to SMS scams.

According to Airtel Nigeria’s Chief Executive Officer, Dinesh Balsingh, the AI Spam Alert Service demonstrates the priority the company places on user security. “We understand that spam messages are more than just an annoyance, they pose real threats to individuals and businesses. So, our Spam Alert Service is part of a broader effort to ensure a safer and more secure digital experience for our customers,” Mr Balsingh said.

An Urgent Call to Action

As Airtel takes the lead in the fight against spam and SMS fraud, mobile users must remain vigilant. Customers are encouraged to report suspicious messages and avoid clicking on links from unknown sources.

Additionally, businesses must adopt best practices in digital communication to ensure their messaging systems are not exploited by fraudsters.

With initiatives like the Spam Alert Service, Airtel is setting a new standard for mobile security in Nigeria. In a world where digital threats continue to evolve, proactive measures like this ensure that users can communicate safely, free from the fear of falling victim to SMS scams.

The battle against spam and fraud is far from over, but with Airtel’s Spam Alert Service, Nigerian mobile users now have a powerful ally in safeguarding their communication channels.

Faedat Temideni

by Online Poster — July 14, 2025 in Industry 0

Nestlé Nigeria Collaborates With The Government To Drive Nationwide Water Quality Campaign

Amaka Obiefuna

As part of ongoing efforts to ensure safer water for all Nigerians, Nestlé Nigeria is partnering with the Federal Ministry of Water Resources and Sanitation to launch a National Water Quality Advocacy Campaign aimed at raising awareness, educating communities, and mobilizing multi-stakeholder action around water safety and sustainable water practices.

The collaboration, announced in Abuja during a courtesy visit by Nestlé and members of the Organized Private Sector in Water, Sanitation, and Hygiene (OPS-WASH), reinforces the government’s commitment to advancing President Bola Ahmed Tinubu’s Renewed Hope Agenda through improved access to clean water and sanitation.

At the meeting, the Honourable Minister of Water Resources and Sanitation, Engr. Prof. Joseph Terlumun Utsev, welcomed the partnership, noting its importance in tackling persistent public health threats such as cholera and diarrhea while also addressing challenges related to flooding and climate resilience.

He assured the Ministry’s full support for Nestlé’s campaign and pledged timely collaboration to deliver impactful results. “The Ministry is committed to working with Nestlé Nigeria to improve water quality across the country. This partnership is in line with our mission to ensure safe water access and support the health and wellbeing of all Nigerians.”

Speaking on the company’s role, Victoria Uwadoka, Corporate Communications, Public Affairs, and Sustainability Lead at Nestlé Nigeria, said:

“Water is essential to life, yet millions of Nigerians remain at risk due to unsafe water sources. Our campaign is not just about raising awareness, it’s about shifting behaviors and building partnerships that deliver lasting impact. We’re working across communities, industries, and institutions to help close the knowledge gap, improve water safety, and support national health outcomes.”

She emphasized that the campaign rests on three pillars: building awareness and knowledge, engaging stakeholders at all levels, and driving long-term, sustainable action.

Providing additional perspective, Dr. Nicholas Igwe, National Coordinator of OPS-WASH, shared details of the initiative’s community reach:

“We are taking a long-term, impact-led approach. In Abaji Area Council of the Federal Capital Territory, 16 communities will benefit from water quality interventions, while 8 communities in Agbara, Ogun State, are also included. In addition, two agricultural communities will receive water harvesting systems to support irrigation and food production.”

The meeting was attended by senior officials from the Ministry and OPS-WASH, reaffirming cross-sector commitment to accelerating access to clean, safe water for all Nigerians.

by Online Poster — July 10, 2025 in Industry 0

MAN Applaud Ogun State Government’s Sustainable Approach On Plastic Waste Management

By Fidelia Okafor

The Manufacturers Association of Nigeria (MAN), the advocacy voice of manufacturers in Nigeria has applauded the Ogun State Government on its proactive and sustainable approach to managing plastic waste, especially single use plastics in the state.

This was contained in a press statement issued by the Association and signed by its Director General, Segun Ajayi-Kadir, mni on Thursday 3rd July, 2025. Ajayi-Kadir is appreciative of the government’s initiatives aimed at reducing plastic waste, promoting recycling, and ensuring a cleaner environment. He particularly noted the resolve of the Ministry to partner with manufacturers and other operators in the plastic value chain to advance its waste to wealth initiative.

These efforts align with MAN’s commitment to environmental sustainability and responsible manufacturing practices. The Ogun State Government’s approach was presented by the Honourable Commissioner for Environment, Ola Oresanya recently in Abeokuta during this year’s commemoration of World Environment Day, themed: Beating Plastics.

In his remarks, the Ogun State Commissioner for Environment highlighted “plastics for cash” and “blue box” initiatives as subsets of their sustainable approach to manage waste and convert same to wealth in the state. While the Plastics for Cash program enables residents to exchange sorted plastic waste for monetary value or goods, creating income opportunities for youth, women, and informal waste collectors; the Blue Box initiative promotes structured house-to-house waste separation and collection, driven by the Ogun State Waste Management Authority.

To strengthen these initiatives, Ogun State has constituted a Plastic Management Committee made up of regulatory agencies, manufacturers, and academic institutions.

This Committee is responsible for promoting the implementation of EPR guidelines as defined by the National framework to support plastic buy-back programmes and job creation along the recycling value chain. This is coming against the backdrop of recent developments in Lagos State with the disingenuous ban of production and use of single use plastics. Rather than sudden and outright ban, progressive strategies that balance environmental sustainability with economic stability should be adopted.

In Egypt, collaborative efforts between the government and social enterprises like Banlastic focus on education, community clean-ups, and recycling plastic waste.

Ghana has embraced plastic-to-construction innovation, with companies like Nelplast transforming waste into affordable building materials. Similarly, the United States is pursuing a national recycling plan and innovation challenge to improve plastic recovery, design, and energy efficiency.

These models focus on circularity and not prohibition. As an advocacy organisation, MAN has cautioned against the ban and called for a more sustainable and beneficial approach to manage waste, similar to the one Ogun State has adopted. To this end, we urge all stakeholders in the management of waste and the protection of the environment to leverage the commendable initiative of the Ministry of Environment in Ogun State. Ajayi-Kadir reiterates that Lagos State should redirect its focus towards building an inclusive, data-backed, and economically viable waste management system rather than imposing a blanket ban that risks widespread job losses, especially among SMEs, informal waste workers, and women-led businesses. Just as the State already has several commendable frameworks and pilot programmes such as the smart bins initiative, and the Blue box, it should revive and fully implement them and contribute meaningfully to addressing plastic waste.

Sustainable solutions must be rooted in stakeholder engagement, scalable alternatives, and enabling infrastructure. The approach should not punish productivity but guide it towards circularity.

MAN remains committed to supporting collaborative, inclusive environmental policies that protect both people and the planet Ajayi-Kadir states that the Association believes that effective waste management is crucial for public health, environmental protection, and economic development.

The Association looks forward to continued collaboration with the Ogun State Government to promote sustainable practices and address environmental challenges. We are convinced that the plastic pollution crisis is primarily a result of poor waste management infrastructure and enforcement and not the material itself.

We should aspire to achieve progressive waste management that leads to wealth and job creation, and not adopt simplistic waste management measures that drag industrialization and lead to needless impoverishment.

by Online Poster — July 7, 2025 in Industry 0

Unity Bank Empowers Young Entrepreneurs With ₦16M Business Grant

No fewer than 30 young entrepreneurs have been awarded a ₦16 million business grant by Unity Bank Plc during the latest edition of its flagship entrepreneurship development initiative, the Corpreneurship Challenge.

The winners, budding entrepreneurs developing innovative solutions across various business value chains including fashion design, bag making, pastry making, event management, beauty, vegetable farming, and more, emerged tops after participating in a business pitch competition held recently for Batch A Stream 2 across 10 NYSC Orientation Camps in Cross River, Niger, Abuja, Nasarawa, Taraba, Kaduna, Plateau, Jigawa, Anambra, and Lagos States.

At the NYSC Orientation Camp in Ipaja, Lagos State, corps member Adeniyi Stephen Gbemininyi, who pitched a fashion design business, emerged as the overall winner, clinching the ₦800,000 grand prize. Kolawole Opeoluwa Darasimi, a budding bag maker, won a ₦500,000 grant, while Johnson Elizabeth Ene received a ₦300,000 grant to support her cake and pastry business.

Across the remaining nine states, 27 other winners also emerged after pitching business plans in diverse sectors such as fish production, poultry farming, fashion, soap and cake making, printing, piggery, beverage production, and more.

Over the past six years, the Unity Bank Corpreneurship Challenge has become an integral part of the NYSC programme, aligning with the Federal Government’s commitment to upskilling fresh graduates amid the growing dearth of white-collar jobs. The programme attracts thousands of applications from serving NYSC corps members, whose business plans are evaluated for originality, marketability, employability potential, and overall business acumen.

Speaking during the grand finale in Lagos, Unity Bank’s Divisional Head, Retail & SME, Mrs. Adenike Abimbola, said: “At Unity Bank, we believe that empowering young people to shape Nigeria’s economic future must be supported to provide longer-term sustainability. Through the Corpreneurship Challenge, we are not just providing funding, but nurturing a new generation of entrepreneurs equipped with the skills, resources, and confidence to create jobs and transform communities. The success stories we see year after year reaffirm our commitment to youth empowerment and SME development.”

She added: “The overwhelming interest and high quality of business ideas we receive in every edition demonstrate the incredible potential among Nigeria’s youth. We are proud to partner with the NYSC SAED to make these dreams a reality.”

The Corpreneurship Challenge has earned Unity Bank national recognition for its contribution to youth empowerment and job creation, attracting over 2,000 applicants per edition.

In partnership with the NYSC Skill Acquisition and Entrepreneurship Development (SAED) programme, the initiative features a business pitch competition that allows participants to present their business plans and win grants of up to ₦800,000.

So far, Unity Bank has invested over ₦100 million in the initiative, producing over 160 winners since its launch in 2019.

by Online Poster — July 3, 2025 in Industry 0

MAN President Commended BAT’s Role In Nigeria’s Manufacturing Growth, Sustainability

By Fidelia Okafor

The President of the Manufacturers’ Association of Nigeria (MAN), Otunba Francis Meshioye, alongside the Director-General, Segun Ajayi-Kadir, led a distinguished delegation on a courtesy visit to the British American Tobacco (BAT) factory in Ibadan.

This visit not only underscores BAT’s critical role as a dedicated member of MAN but also highlights the organisation’s ongoing efforts to strengthen collaboration between the government and the manufacturing sector.

During the visit, Meshioye, the president of MAN, commended BAT for its high operational standards and commitment to excellence.

“From the moment we arrived, BAT’s dedication to safety, quality, and innovation was evident. The company’s Environmental, Health, and Safety (EHS) induction process reflects its strong commitment to workplace safety and employee welfare. I encourage BAT to intensify its transition to reduced-risk products. MAN remains committed to supporting BAT’s initiatives and recognises its leadership in the sector,” Meshioye stated.

Echoing this sentiment, Ajayi-Kadir, MAN DG, applauded BAT for its resilience and steadfast commitment to the Nigerian manufacturing landscape, particularly in the face of a complex regulatory environment.

“BAT stands out as a responsible and committed member of MAN, effectively addressing industry challenges. The government needs to support businesses that adhere to regulations, and BAT exemplifies this commitment. We deeply appreciate BAT’s substantial contributions to the manufacturing sector and encourage the company to continue its efforts,” he added.

The delegation observed BAT’s rigorous EHS induction protocols, reinforcing the company’s unwavering commitment to workplace safety.

The visit coincided with BAT’s celebration of an impressive milestone: four years of zero lost-time incidents at the factory which highlights BAT’s robust safety culture and operational excellence, setting a benchmark within the industry.

The visiting delegation participated in a guided factory tour, donning protective gear to witness BAT’s advanced production processes firsthand.

Hasnain Ishtiaq, BAT’s Operations Director, reaffirmed the company’s commitment to sustainability and employee welfare.

“At BAT, we are dedicated to building A Better Tomorrow by prioritising employee safety, minimising our environmental impact, and embracing sustainable practices. Our mission is to continue innovating and leading the industry while upholding responsible manufacturing standards,” he stated.

Ishtiaq highlighted BAT’s legacy since its founding in 1902, noting its presence in Nigeria since 1912 and the commissioning of the Ibadan facility in 2003.

“With ₦500 billion in tax remittances (2018–2024), we have created over 350,000 jobs and strengthened Nigeria’s economy,” he said.

He emphasised that the Ibadan factory, with 16 production lines, generates up to $110 million in foreign exchange annually.

“This visit and MAN’s endorsement reaffirms BAT’s role as a strategic manufacturing partner committed to innovation, safety, and sustainability,” he concluded.

by Online Poster — July 2, 2025 in Industry 0

Agbo Francis, Olawale Peace, Others Shine At 4th Cycling Lagos

L-R: Kosok Idrisi, Cycling Official ; Bamidele Adeleye, Convener Cycling Lagos;
Balogun Abdulazeez, Male Professional Sliver Medal Winner; Agbo Francis, Gold Medal Winner; Ibrahim Asiru, Bronze Medal Winner and Temilade Oluokun, Marketing Operations Officer, Samsung during the 4th Cycling Lagos held on Saturday June 28, 2025 at the National Stadium, Surulere, Lagos.

L-R: Kosok Idrisi, Cycling Official; Bamidele Adeleye, Convener Cycling Lagos;
Oyewole Kate, Female Professional Sliver Medal Winner; Olawale Peace, Gold Medal Winner and Azeez Medinate, Bronze Medal Winner during the 4th Cycling Lagos held on Saturday June 28, 2025 at the National Stadium, Surulere, Lagos.

The National Stadium in Surulere, Lagos, came alive on Saturday as cyclists from all corners of the country gathered in full force for the thrilling 4th edition of Cycling Lagos event.

Agbo Francis, a professional cyclist from Ogun State who placed second in 2024, clinched the gold medal in the male professional category. Balogun Abdulazeez from Lagos State took the silver, while the bronze went to the promising young athlete Ibrahim Asiru, also from Lagos.

In the female professional category, Olawale Peace from Oyo State—last year’s Amateur Race gold medalist—won gold again, this time in the professional class. Oyewole Kate, a young cyclist from Lagos who came third in 2024, moved up to claim silver, while Azeez Medinate from Oyo State secured the bronze medal.

Young cyclists also had their moment in the spotlight. In the Under-15 male category, Akinola Desting from Oyo State won gold, Goodluck Emmanuel from Osun State took silver, and Hamzat Keyinde, also from Oyo, claimed bronze.

For the Under-15 female category, Oyo State athletes dominated the podium: Azeez Hazanat won gold, Aminu Olamide took silver, and Odebiyi Iqnat earned bronze.

In the Under-10 male category, Amoo Malik from Ogun State came first, winning gold. Ridiwan Fuwad from Oyo State placed second for silver, and Bello Adams finished third with bronze.

The Under-10 female race saw Aminu Olamikposi from Oyo State take gold, followed by Azeez Amira with silver, and Abidoye Ayomide with bronze—both also from Oyo State.

Speaking at the event, the Convener of Cycling Lagos and Managing Director of BrandEscort Communications, Bamidele Adeleye, congratulated all participants.

“Let me specially congratulate all our winners for this year’s Cycling Lagos event. For those who didn’t win a medal, I still celebrate you. Your participation matters, and with more effort on the pedals, you might just be our champion in 2026,” he said.

Adeleye also expressed excitement over the visible progress of several athletes: “Agbo Francis, who came second last year, is now our gold medalist. Similarly, Olawale Peace has moved from winning in the amateur category to becoming a professional champion. This is the kind of growth we love to see.”

He called on both state and federal governments to invest more in sports development. “Sports is a global business that creates jobs and opportunities. Nigeria is blessed with millions of talented youths. With just a little support, they can shine on the world stage. But government must provide the right environment and backing to make this happen.”

“At Cycling Lagos, we remain committed to identifying, encouraging, and showcasing young Nigerian cyclists who are passionate about excelling in sports,” he added.

Cycling Lagos is an annual event designed to promote healthy living and a cycling culture among enthusiasts, corporate executives, and the wider public across Nigeria.

Themed “Sustainability Energy,” the 2025 edition was proudly sponsored by Samsung, with support from Nestlé Nigeria Plc, Mountains Energy Solution, Cway, Peak Yoghurt, Leadway Assurance, DStv, and the Lagos State Cycling Association.

by Online Poster — June 30, 2025 in Industry 0

Corridors To Trade Can Support Nigeria’s Protein Needs

By Fidelia Okafor

Keynote panel discussion analysing the food and nutrition security landscape of Nigeria. The panel was moderated by Foluso Alabi, Country Team Lead – Nigeria, USSEC

The U.S. Soybean Export Council hosted its signature “Nigeria: NOW” conference in Lagos this week, bringing together stakeholders across the government and private sectors, including poultry producers, nutritionists and more.

Participants dove into discussions about addressing Nigeria’s protein gap, trade and economic growth.

Speaking at the event, Acting U.S. Consul General, Lagos, Nigeria, JoEllen Gorg emphasized, “The U.S. Soybean Export Council’s Nigeria: NOW conference marks a pivotal milestone in creating a pathway for mutual prosperity and shared economic success. By addressing Nigeria’s protein gap, fostering innovation, and promoting best practices, the U.S. Soy industry is helping to build a resilient agricultural sector in Nigeria, ensuring long-term food security and economic stability.”

She added, “We are enthusiastic about the opportunities arising from the collaboration between USSEC and the U.S. Mission in Nigeria. This partnership is crucial in helping export-ready U.S. companies build business relationships with Nigerian agribusinesses, training Nigerians in new agricultural practices, and promoting the use of U.S. soy in Nigeria’s feed and food industries.”

Participation by high-level Nigerian stakeholders, including former President, Chief Olusegun Obasanjo, Grand Commander of the Order of the Federal Republic; Engr. Seyi Makinde, Executive Governor of Oyo State; and Abisola Olusanya, Honorable Commissioner for Agriculture & Food System, Lagos State, emphasized the opportunity for greater collaboration between U.S. Soy and Nigeria.

With a population of over 236 million and growing, Nigeria’s protein consumption per capita remains low at only 45.4 grams per person per day compared to the FAO’s minimum recommended intake of 60 grams. The global average is around 64 grams. While Nigeria grows soybeans domestically, demand significantly outpaces supply. The USDA Foreign Agricultural Service estimated Nigeria’s local production at around 1.15 million metric tons for the marketing year (MY) 2023/24, with the animal feed sector accounting for the majority of its use.

As a result of the demand-supply mismatch this year, Nigeria imported 62,100 metric tons of soybeans from the U.S. after a pause of six years. This renewed access offers a promising opportunity for deeper collaboration between U.S. Soy and Nigeria.

“Trade is vital to the global economy and, more importantly, to local economies,” added Jim Sutter, USSEC CEO. “U.S. Soy is at the forefront of collaborating with its partners as a reliable supplier.”

Robert Alpers, a generational U.S. Soy farmer and United Soybean Director, echoed this, “I’m proud to be playing my role in helping to feed the world sustainably. As U.S. Soy farmers, we are committed to ensuring we produce more using fewer resources and reducing our environmental footprint.”

By strengthening relationships, building trust, and leveraging comparative advantage, Nigeria and U.S. Soy can achieve mutually beneficial economic growth and a protein-secure future.

by Online Poster — June 30, 2025 in Industry 0

Dangote Is The Pride Of Nigeria’s Financial Market, Says NGX Group Chairman

The Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga, has praised the President/Chief Executive, Dangote Group, Aliko Dangote for his substantial contributions to the Nigerian capital market and private sector development.

He noted this during a courtesy visit to the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited by capital market stakeholders.

Kwairanga, who called for the listing of Dangote Petroleum Refinery and Dangote Fertiliser on the NGX, stated that it would represent a natural progression in the Dangote Group’s journey towards transparency, market leadership, and inclusive wealth creation.

Noting that the Nigerian capital market takes great pride in Dangote and his contributions to the economy, he commended the impact of the Dangote Petroleum Refinery on the Nigerian economy, stressing that the various initiatives introduced have provided much-needed relief to Nigerians.

Kwairanga recalled Dangote’s tenure as President of the Council of the Nigerian Stock Exchange, describing him as a visionary whose leadership shaped the capital market landscape.

“Through the listing of companies such as Dangote Cement Plc, Dangote Sugar Refinery Plc, and NASCON Allied Industries Plc, the Group has significantly deepened market liquidity, boosted investor confidence, and driven long-term value creation for shareholders,” he stated.

The Chairman emphasised that the visit was more than a tour; it was a reaffirmation of the NGX’s commitment to aligning investment capital with national development goals.

The President/ Chief Executive of the Dangote Group, Aliko Dangote, reaffirmed that the Group will soon list the Dangote Fertiliser Limited on the Nigerian Exchange (NGX), with the aim of revolutionising the capital market.

He assured shareholders that those investing in Dangote Fertiliser Limited would not need to worry about the value of the local currency, as the company operates within a dollarised business framework.

“So, what are we aiming to do to bring about a major revolution in the capital market? The main challenge is that many investors are hesitant, thinking, ‘If I invest my naira now, by the time I receive dividends in ten years, the naira will have lost value.’ However, we are entering the market with a dollarised business model,” he explained.

Dangote further disclosed that the company is working on expanding its fertiliser plants to boost revenue, with a target dividend payment to shareholders exceeding $3 billion.

“In the next 40 months, our fertiliser business should generate $20 million in revenue per day. We are pushing hard. We expect to reach over $70 billion in revenue and possibly pay dividends of $3–4 billion. Our philosophy is to always think big,” he said.

He added that the Group is also strengthening its cement business by investing in new plants and targeting clinker exports to West African countries, which will boost revenue and provide better dividends for shareholders.

Praising the recent progress of the NGX, Dangote stressed that Nigeria needs companies like Reliance Industries Limited, which once held its Annual General Meetings in a stadium. Such companies, he noted, would stimulate the economy and encourage wealth distribution.

Emphasising that Nigeria cannot attain its $1 trillion economy target without a vibrant stock exchange, Dangote affirmed his continued engagement and support for the NGX, acknowledging its crucial role.

The Vice President of Oil & Gas at Dangote Group, Edwin Devakumar, who led the delegation on a tour of the facilities, described the construction of the 650,000-barrel-per-day refinery as a monumental achievement that demanded immense courage, vision, and determination. He noted that the Group acted as its own Engineering, Procurement, and Construction (EPC) contractor for the refinery—a feat never before attempted at this scale.

He also stressed that the refinery has ensured Nigeria is no longer reliant on imports to meet its petroleum needs and is now exporting refined products to various continents worldwide.

Also present were the CEO of NGX, Temi Popoola; Managing Director/CEO of Central Securities Clearing System Plc (CSCS), Haruna Jalo-Waziri; CIS President, Oluropo Dada; ASHON Chairman, Sam Onukwe; CEO of NGX Regulation, Olufemi Shobanjo; CEO of Lagos Commodity Exchange, Akeredolu Ali; and other major stakeholders.

by Online Poster — June 27, 2025 in Industry 0