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ADF Flags Off N16Bn 2025 National Food Intervention Programme

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Dangote Tackle forex shortage with sugar

 

Over one million Nigerians nationwide will receive a 10kg bag of rice each, with the Aliko Dangote Foundation (ADF) distributing the staple food as part of the 2025 Annual National Food Intervention Project.

The initiative, which commenced on Thursday would is estimated at a whooping cost of N16 billion.

During the flag-off of the nationwide distribution in Kano, Chairman of the Foundation, Alh Aliko Dangote, said the distribution of one million bags of 10kg rice to the poor and vulnerable Nigerians in the 774 Local Government Areas (LGA) in Nigeria was in line with the core values of his businesses and the ADF.

Dangote, who was represented by his daughter, Mariam Aliko Dangote said, “This annual initiative, which embodies compassion, solidarity, and shared responsibility, is part of our response to the current economic challenges facing our nation. It reflects our commitment to supporting our communities in line with our core values.”

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He highlighted that the Foundation was kicking off the distribution in Kano State, after which it will proceed to other states, assuring that all arrangements are in place to ensure the food reaches those who need it most in all the LGAs of Nigeria.

Dangote, reputed to be Africa’s wealthiest person opined that food remains a basic human necessity, and this is why the ADF adopted the practice of embarking on a food distribution programme across Nigeria.

“We are collaborating with state governments to ensure that the food reaches the most vulnerable individuals in each state,” he added.

According to Dangote the ADF focuses on improving the living conditions of Nigerians through support for projects which tackle hunger and water supply problems, strengthen the quality and scope of health and education, and promote economic empowerment at the community level.

“Your excellency, I believe that today’s event will help in tackling hunger and helping the most vulnerable people in breaking their fast. We are playing our role in enhancing the living conditions of our people. I urge other industrialists and firms to lend a helping hand in combating hunger through programmes and initiatives that will place food on the tables of vulnerable Nigerians. This job should not be left to the government alone, rather we need a public private partnership that will help us in fighting the scourge.

“I commend the government at all levels for their efforts at addressing the food crisis. I am certain that with time, we shall overcome these challenges, therefore let us support the government to achieve its target of a better life for Nigerians, “he said.

On his part, Kano State Governor, Abba K. Yusuf, who flagged off the National Food Intervention Programme commended the good gesture and said the intervention reflects the unwavering commitment of Alh Dangote in addressing poverty and hunger in Nigeria.

The Governor, who was represented by his Deputy, Comrade Aminu Abdulsalam Gworzo said 120,000 bags of 10kg rice will be distributed across the 44 Local Government Areas of the state.

He described Alh Dangote as humane, adding that: “A similar event took place last year where he personally oversaw the distribution of food stuff to the poor in this very arena.”

To ensure transparency in the distribution process, he said the state government has set up a committee comprising of relevant ministries, CSOs, religious leaders, departments and agencies, local authorities, the Hisbah Board and security agencies.

Managing Director and Chief Executive Officer of the Aliko Dangote Foundation, Zouera Youssoufou, said the Annual National Food Intervention Project is a way of giving back, and supporting governments in fighting poverty and hunger in Nigeria.

She said that Alh Dangote is passionate about philanthropy and committed to ensuring that hunger is wiped out or reduced to the minimum in Nigeria.

“We are going to other states to distribute the products, but we’ve just flagged off in Kano,” she told newsmen on the sideline of the Kano Government House, venue of the flag off.

The Deputy Commander-General of Hisbah Board in Kano, Dr. Mujahid Aminudeen, thanked the ADF for the initiative, urging more Nigerians to emulate Alh Dangote in the humanitarian cause.

He said the Hisbah Board will ensure that the products reach the targeted beneficiaries.

One of the beneficiaries, Ibrahim Ahmed, speaking on behalf of others thanked Alh Dangote for his large heart saying the gift would go a long way in reducing food pressures on them especially during the Ramadan while also praying God to continue to help him in his businesses.

Recall that the ADF has been at the forefront of tackling and ameliorating the impact of natural disasters and health challenges in Nigeria and the rest of the world.

The ADF donated N153million to boost Nigeria’s fight against Ebola Virus Disease in 2014, $3million to the African Union (AU) to help combat the scourge, and N66.66 million to install thermal scanning systems and cameras at Nigeria’s 4 international airports.

During the COVID-19 pandemic, we donated N2billion to the CACOVID Fund, a Private Sector task force in partnership with the Federal Government, the Nigeria Centre for Disease Control (NCDC) and the World Health Organisation (WHO) with the sole aim of combating Coronavirus (COVID-19) in Nigeria.

In support for education, we donated a N1.2bn modern business school edifice to the Bayero University, Kano, a fully equipped 2,160-bed capacity hostel complex to the Ahmadu Bello University, Zaria and a N300 million building to University of Ibadan Business School.

Beyond the shores of Nigeria, the ADF has also recorded milestones with a donation of $1million, to lift victims of two earthquakes that devastated Nepal.

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Trade Tensions Hit Nokia As Q1 Ends In €68M Loss

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Nokia has reported a net loss of €68 million for the first quarter of 2025, a sharp decline from the €438 million profit recorded during the same period last year.

The Finnish telecoms equipment maker attributed the downturn to global trade disruptions and recently imposed tariffs by the United States.

The company’s net sales dropped slightly to €4.4 billion, down by one percent year-on-year.

READ ALSO: Trade War: China Strikes Back Wth 125% Tariffs On U.S. Goods

Tariff-related challenges were highlighted by Nokia’s President and CEO, Justin Hotard, who acknowledged the broader economic pressures affecting the industry.

“We are not immune to the rapidly evolving global trade landscape,” Hotard stated. “However, based on early customer feedback, I believe our markets should prove to be relatively resilient.”

He also noted the potential short-term financial impact, saying, “Based on what we see today, we currently expect a EUR 20 to 30 million impact on our comparable operating profit in the second quarter from the current tariffs.”

Earlier this month, U.S. President Donald Trump introduced a 10 percent tariff on global imports, while pausing plans for steeper duties, including a proposed 20 percent levy on products from the European Union.

Despite the quarterly setback, Nokia expressed confidence in its growth prospects.

The company is looking to its Network Infrastructure, Cloud and Network Services, and Mobile Networks divisions to drive sales in the year ahead.

In a sign of continued momentum in the mobile segment, Nokia also announced on Thursday that it had extended its contract with T-Mobile US.

The company said it is continuing “to see positive signs of stabilization” in Mobile Networks.

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Marketers In Anguish, As Dangote, NNPC Ltd War Drag Price To N880/litre

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The pull of market forces which moved the hands of the Nigerian National Petroleum Company Limited (NNPC Ltd) to reduce the price of Premium Motor Spirit (petrol) to N880 per litre in Lagos and N935 in Abuja appears to be a source of torture to independent markets.

Biztellers reports that the latest price review on Easter Monday saw NNPC retail outlets in Lagos drop from N925 to N880, while those in Abuja adjusted from N950 to N935.

The NNPC Ltd’s price reduction came barely a week after the Dangote Refinery lowered its ex-depot price from N865 to N835 per litre.

ALSO READ: BREAKING: Again, Dangote Cuts Petrol Price To N835 per Litre

In addition, the $20bn refinery also directed its partners like MRS, Heyden, and Ardova to sell a litre of petrol at the rate of N890 instead of N920 in Lagos, N900 in the South West, N910 in the South-South, and N920 in the North East.

Consumers can smile because with the reaction, the NNPC Ltd’s new price in Lagos is N10 lower than what the Dangote Refinery is selling at, which might lead to another reaction, as the price war between the two companies.

Though some NNPC Ltd’s retail outlets were observed selling at the old rate in Lagos, it was gathered that they were given the liberty to exhaust old stock before adjusting to the new prices.

Market sources are of the view that the current price war was ignited by the Federal Government’s implementation of the Naira-for-crude policy.

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Gold Prices Hit Historic $3,500 Amid Trump Tariffs, Fed Tensions

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Gold soared to a record high of $3,500 an ounce on Tuesday, as mounting fears over a potential U.S. recession and escalating tensions between President Donald Trump and the Federal Reserve drove investors toward the traditional safe-haven asset.

The precious metal briefly touched an all-time high of $3,500.10 an ounce before retreating slightly to trade at $3,467.87.

READ ALSO: JUST IN: Vatican Discloses Cause Of Pope Francis’ Death

The rally marks the latest in a string of record-breaking gains for gold, fueled by a weakening U.S. dollar, sharp declines across global stock markets, and growing concerns over the health of the world economy.

Market sentiment took another hit this week after President Trump ramped up his trade war with China, slapping fresh tariffs on the world’s second-largest economy and intensifying fears of prolonged economic disruption.

Gold has surged more than 30 percent since the start of the year as investors seek refuge from mounting market volatility.

“The rally reflects ongoing recession fears in the U.S. economy and heightened political tensions, especially as President Donald Trump continues to attack Federal Reserve Chair Jerome Powell,” said Rania Gule, senior market analyst at trading group XS.com.

Concerns about the Fed’s independence were further stoked Monday, when Trump publicly lashed out at Powell on social media, branding him a “major loser” for not cutting interest rates — a move the president has repeatedly demanded.

The sharp criticism follows Trump’s recent suggestion that he might attempt to remove Powell from his post.

 

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