Business
Dangote’s CSR Footprint On 17 Ogun Host Communities
Up to 305 youths from the 17 host communities of Dangote Cement’s Ibese plant operations have been trained and empowered with multi-million Naira start-up packs in different vocations since the opened shop there.
The management of the company disclosed this in a statement on Wednesday.
According to the statement, the Ogun State government lauded the efforts of Dangote Cement in complementing the state’s poverty alleviation programmes describing the company as a worthy partner.
Acting Plant Director of the Ibese Cement Plant, Mr. Michael Johnson made the disclosure during the closing ceremony of the 2023 Community Youths Empowerment programme held at the plant’s premises at Ibese during which 30 fresh host communities’ youths graduated from the Youth Skill Acquisition and Empowerment in crafts and leather works in collaboration with Industrial Training Fund.
Mr. Johnson described the conclusion of the skill acquisition programme as another testament to Dangote Cement’s commitment to the socio-economic development of its host communities and their people. “Our focus is to support the indigenous people to become self-sustaining by delivering and sustaining values that are pivotal to their overall growth and development.”
While welcoming the guests and the beneficiaries to the ceremony, the Cement Plant boss pointed out that the successful completion of the programme was another milestone in the journey of the company’s social investment strides saying the company’s vision is to create entrepreneurs who in turn will create jobs for other youths within the communities.
Said he; “today, thirty (30) youths from our seventeen (17) host communities are receiving certificates for undergoing in full and conducting themselves well during the intensive training, 70% hands on and 30% theory, organized by the Dangote Cement Ibese Plant through the ITF. This underscores our recognition of youths as a critical stakeholder group to the company and our resolve to continue to collaborate to unleash their innate potentials.
“They are also being provided with multi-million Naira start-up packs comprising SR-810 Professional Single Needle Post-bed Heavy-lock Stick Shoe Patch sewing machine, Master Flex MF-2008BG Shoe filing machine and other accessories like scissors, hammer & sewing needle”
Amidst applause by the beneficiaries, Mr. Johnson recalled that the 30 youths commenced the training in October 2023, with little or no idea in the craft of leather works and shoe making. “After months of intensive learning and extensive practice, they are now imbued with skills that can put food on their tables and afford them opportunities to meaningfully contribute their quota to the development of their respective communities and the nation at large. It gladdens our heart to be instrumental to this transformational journey for all the participants.”
He stated that the Company’s management was of the view that governments at all levels and the private sector alone cannot fully meet the employment needs especially in a densely populated and youth dominated country like Nigeria. “The most plausible alternative therefore, is for the youths to acquire adequate skills in various trades to become entrepreneurs and self-dependent. This program is therefore timely and most auspicious as its intended impact cannot be overemphasized considering the prevailing economic condition in the Country, he noted.”
According to him, so far, not less than 305 youths across the Ibese Plant host communities have been trained and empowered in different skills since the commencement of programmes, with significant impact on the local economy while expressing the company’s desire to continue to collaborate with stakeholders to deepen the impact of the program.
The Plant Director stated that apart from the annual skills acquisition program, Dangote Cement, Ibese has other programs such as annual Scholarship awards for 120 indigent and brilliant students and a dedicated structure to ensure that the youths remain engaged and their concerns are heard and attended to on a consistent basis.
He therefore urged the beneficiaries to make good use of the opportunity to set up their own businesses, grow them and become employer of labour by hitting the ground running immediately saying a journey of a thousand miles starts with a step. “Be bold and courageous to start your own journey to greatness now! We live in a technology driven world, which the advent of Artificial Intelligence (AI) has taken to another level. Hence, you need to remain focused and be conversant with the latest developments in your areas of specialization by embracing technology to remain relevant and competitive.”
In his goodwill message, the Ogun State Commissioner for Youths and Sports Development. Hon. Wasiu Isiaka lauded Dangote Cement for its partnership programmes which have helped the state government tremendously in the area of poverty alleviation and job creation.
He challenged the Dangote Cement to sustain the trend by helping to ensure it create markets for the products the youth beneficiaries would be churning out noting that when there is market for the products the beneficiaries will be encouraged to double their efforts.
The commissioner assured that the state government would be ready to assist in whatever is required to foster joint development of the state by empowering its people, especially the youths. He then advised the company to ensure the diversification of its empowerment programme so that different skills can be acquired by the youths in various field of vocation and in turn teach others.
Hon. Isiaka urged the youths and other stakeholders in the host communities to reciprocate the gesture of the Dangote Cement, Ibese by making peace and tranquility their priority. He told them to play their own part of the bargain by partnering and supporting the organization to ensure peaceful co-existence and shared prosperity for all.
Responding on behalf of the beneficiaries, 21-year old Olowookere Sadiq Opeyemi from Abule-Oke Community thanked the management of Dangote Cement for their passion in seeing that the youths from the host communities do not constitute nuisance to the society be empowering them through various vocational training.
He promised that he and his colleagues would not disappoint the company but will ensure the start-up packs given them are judiciously used so that they would also become entrepreneurs who in turn will employ others.
“What Dangote Cement has done for us is unquantifiable. They have lessened the burden off our parents and the society at large will be better for it. With this, Dangote Cement, Ibese has proven that they are not just corporate citizen but a socially responsible corporate citizen”, he stated.
Nigeria’s economic fortune is benefiting from the Middle East crisis, as the impact of capital inflows from stronger crude oil earnings has seen her foreign reserves climb to record $53.1 billion, beating the $51.04 billion year-end target.
Data available on the Central Bank of Nigeria’s (CBN) website indicated that the reserves closed at $53.1 billion on August 24, which is the highest level in almost 18 years.
Any analyses of the growth shows that the difference in reserves position places the Nigerian economy in good stead, because it can cover over 12 months import.
It is noteworthy that Nigeria’s external reserves fuel the CBN’s capacity to support the local currency and meet external obligations, have continued to rise steadily, since the face-off between the United States and Iran.
Further analysis of the data displayed by the CBN showed that the liquid portion of the external reserves stood at $52.5 billion.
Biztellers reports that Brent crude traded around $87 per barrel, within the week, well above Nigeria’s 2026 federal budget benchmark of $64.85.
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With the Middle East crisis not showing signs of abating, analysts believe the price rebound would largely bolster Nigeria’s fiscal revenues.
The line of thought is popular among those who know, because as a crude oil exporter, Nigeria will continue to earn more petrodollars, which they argue would support the domestic currency – naira’s stability, while pumping the volume of external reserves.
In its economic projections for 2026, the CBN targeted stronger oil earnings, foreign exchange market reforms and improved external capital inflows to achieve the year-end reserves projection.
According to analysts, the current reserves position reinforces the steady growth in Nigeria’s external buffers.
The founder/Chief Executive Officer of the Centre for the Promotion of Public Enterprise (CPPE), Dr Muda Yusuf, earlier hinted at a positive outlook for Nigeria’s external reserves as he does not see anything derailing the forex and fiscal reforms that have brought about stability and improvement in external reserves, as reported by The Nation.
Yusuf said: “Well, the outlook for me is positive because I don’t see anything derailing these forex reforms, fuel subsidy etc. It is these reforms that have brought about stability.”
The CBN data further showed that Nigeria’s external reserves have maintained a steady upward surge in recent months.
The reserves started June at $49.80 billion and crossed the $50 billion mark by June 5, reaching $50.12 billion.
On June 15, reserves had increased further to $50.81 billion before rising to the current position. The reserves stood at $51.9 billion on July 31, and continued.
The sustained increase reflects stronger foreign exchange inflows and improved liquidity conditions in the country’s external sector.
The CBN Governor, Olayemi Cardoso, said: “This strong buffer continues to reinforce investor confidence in the Nigerian economy and support exchange rate stability.”
The CBN’s decision to clear over $7 billion unsettled FX backlogs raised investors’ confidence in the economy, supporting dollar inflows and foreign reserves accretion, Cardoso added.
The CBN boss had explained that although he had no idea where the fund for the backlog clearance would come from, when he assumed office, he believed it was the right thing to do, and gave investors his word.
He said: “Credibility is at the heart of any central bank. If you don’t have credibility, people do not trust you and they do not invest in your economy. When I took office, I made a promise we would pay the backlog, the verifiable backlog of monies that were owed by Nigeria to third parties.
“And it was, at the time, estimated at over $7 billion US dollars. And to be honest with you, I had no idea how I was going to do it, but I just felt it was not something to be negotiated.”
Cardoso explained that Nigeria needed to ensure that its integrity is maintained. Analysts believe the higher reserve level could enhance the CBN’s capacity to support exchange rate stability and meet external obligations.
Up to 30% equity in the upcoming Dangote Refinery in Kenya, has been placed on the table for East African countries, which makes about $1.5 billion worth of the planned project available to regional investors.
David Ndii, Kenyan President William Ruto’s economic adviser, disclosed this on Thursday at a capital markets forum in Nairobi, where he said Kenya would take a 10% stake while Ethiopia and Rwanda had also expressed interest.
Dangote’s planned refinery is expected to be developed in Lamu, a coastal town in southeastern Kenya, though the project was initially proposed for Tanga in Tanzania.
According to the billionaire industrialist, the decision to move the proposed location to Kenya was informed by commercial and technical considerations.
Ndii disclosed that Kenya’s proposed 10% participation would be worth approximately $500 million.
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He said the combined regional participation could amount to about $1.5 billion, with Dangote prepared to support the project if some participating countries are unable to commit as crude off-takers.
“The total for the region is about $1.5 billion,” he said. “I don’t actually see a challenge in doing that, and if some of them are not off-taking we will backstop.”
The proposed regional participation would give East African countries a direct equity interest in a major energy infrastructure project while potentially securing access to refined petroleum products for participating markets.
The United Nations Geoscheme (UNG) for Africa defines Eastern Africa as comprising 18 sovereign countries, alongside two French overseas territories, meaning the proposed 30% allocation could potentially involve a broader regional investor base beyond Kenya, Ethiopia and Rwanda.
The Nigerian authorities have been called upon to focus on strengthening domestic refining capacity.
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) made the call in a communiqué issued at the end of the three-day PENGASSAN Energy and Labour Summit (PEALS 2026).
It stressed the need for adequate protection for refineries operating in the country.
The PENGASSAN said Nigeria must reduce the economic inefficiency of exporting crude oil while importing significant volumes of refined petroleum products by creating an environment that supports domestic refining and other value‑adding activities.
The communiqué, signed by the union President, Festus Osifo, and General Secretary, Jerry Amah, stressed the need to protect refineries, including Dangote Refinery and Waltersmith Refinery.
The association said the expansion would enable Nigeria to retain a greater share of the value generated from its petroleum resources while creating jobs, conserving foreign exchange and stimulating industrial development. PENGASSAN linked the growth to wider opportunities in petrochemicals, gas processing and other downstream activities.
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The communiqué reads in part: “The summit called for sustained policies and investments to expand Nigeria’s domestic refining capacity and reduce the economic inefficiency of exporting crude oil while importing significant volumes of refined petroleum products. The need to protect refineries (such as Dangote Refinery, Waltersmith Refinery, etc.) within Nigeria’s jurisdiction was emphasised.
“Nigeria must progressively retain more value from its petroleum resources through domestic refining, petrochemicals, gas processing and other value‑adding activities capable of generating employment, conserving foreign exchange and stimulating industrial growth.
“Ultimately, the strength of Nigeria’s oil and gas industry will not be measured merely by the resources beneath the ground, but by the projects delivered, the value created, the Nigerian capabilities developed, the decent jobs sustained and the prosperity generated for the Nigerian people.”
The association also warned that abrupt policy changes, overlapping mandates, repetitive approvals and conflicting directives increase the cost of doing business and weaken Nigeria’s competitiveness for global energy capital.
The PENGASSAN called for faster regulatory approvals, digitalised processes and clearer timelines, arguing that the effectiveness of regulation should be measured by its impact on investment, production, government revenue, job creation and national value rather than simply by the number of licences or approvals issued.
On gas, the PENGASSAN advocated an integrated approach to developing Nigeria’s more than 215 trillion cubic feet of proven reserves, including investments in processing facilities, pipelines, storage, LNG, LPG and CNG infrastructure. It said gas should be deployed more aggressively for power generation, manufacturing, transportation, fertiliser and petrochemical production.
The association also urged stronger protection of workers’ rights, occupational safety and employment during mergers, acquisitions, divestments and asset transfers, saying sustainable investment requires skilled and fairly treated workers and that increased production must not come at the expense of workers’ lives and wellbeing.
In addition, the PENGASSAN said the next phase of Nigeria’s petroleum industry must focus on execution with measurable targets and clearly assigned responsibilities to ensure policies translate into projects, production, investment and sustainable employment.
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