Business
Dangote Cement Ibese Fetes Host Communities’ Senior Citizens

Dangote Cement, Ibese Plant at the weekend extended the frontier of its social investments in the wellbeing of its 17 host communities when it hosted the senior citizens in the communities offering them free medical services and mobility equipment, including wheelchairs.
The company, in a statement explained that the gesture was aimed at complementing the effort of the government in improving the lives of the people of Ogun State especially those in whose territory it operates.
Tagged “A Day-Out with Senior Citizens 2024”, the well-attended annual event saw the elderly ones being led in physical exercise, receiving health talks, medical checks, free drugs and other food and household items like rice, semo, honey, beverages, bathing soaps, detergent, clothing and cash gifts.
The Dangote Cement, Ibese Plant Director, Roy Uttam said the event was aimed at increasing the level of socialisation, engagement, emotional and mental wellbeing among the elderly around its host communities.
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Uttam, pointed out that the management of Ibese Plant remained deeply committed to its responsibilities under the Community Development Agreement signed in 2022, saying “we will continue to prioritise the transfer of both economic and social benefits to our host communities, focusing on areas such as health, education, infrastructure, and empowerment.
“It is gratifying that our social investment strides are making meaningful impact in the lives of people across the host communities. We are determined to keep improving and broadening our initiatives, as we work together for the benefit of all.
“As elders who have devoted your youthful lives to the growth and development of your communities, the focus now should be on your health and well-being and the overall goodness of the society. This event is designed with your health in mind, as well as to offer an opportunity to reflect and connect with one another to promote longevity,” he said.
On the success of the maiden edition last year, Uttam recalled that “we hosted 50 elderly members of our host communities for the first time in the history of this Plant. It was a memorable event filled with activities that demonstrated deep recognition for this all-important people in our society and promoted healthy living among them. It was a significant milestone for the Plant and the communities.
“We have made significant improvements this year, including the identification of five persons with disabilities from our host communities, who will each receive mobility aids to enhance their quality of life. This is just one example of how we continue to expand the scope of our social investments to create even greater impact”.
Uttam assured the host communities that the Plant would continue to live up to its responsibilities as regards the execution of the existing Community Development Agreement (CDA) even much more beyond saying some of the social investment initiatives of the Plant when well appraised, go beyond the letters of the signed CDA.
The Dangote Cement boss noted with nostalgia that the company’s social investment strides are making meaningful impact in the lives of people across the host communities and promised that the management was “determined to keep improving and broadening our initiatives, as we work together for the benefit of all.”
The Plant Director noted that in line with the company’s local content initiative, it had retained the services of Novia Hospital Services, a local healthcare provider, to assist in making this event a success. He assured the people of Dangote Cement’s continued support and believe that with the people’s cooperation and collaboration, the management will continue to build on “our shared vision of peace and prosperity”.
On his part, the Group Head of Social Performance, Dangote Cement Plc, Wakeel Olayiwola said the whole idea about hosting the elderly ones in the host communities bordered on carrying along the old ones who are the foundation upon whom the new generations are building on.
“They also need to be active in their old age”, he stated.
Responding on behalf of other elders, a beneficiary, Pa Michael Oderinlo from Ijako-Orile host community thanked the management of Dangote Cement for the gesture especially for reaching out to the elders which he said was not a common practice among business organizations.
Said he:” it is a very rare gesture by a business organization to take special interest in the old people and cater to their wellbeing”.
Also another beneficiary of the wheelchair, Modupeola, Olaoluwa Bankole described the wheelchair donation as very touching and timely saying she now has a new lease of life with the mobility aid andtanked the Dangote Cement management for coming to her aid.
Business
Trade Tensions Hit Nokia As Q1 Ends In €68M Loss

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

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

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.
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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.