Business
FG Preaches Support for Dangote Industrial City, Deep Seaport in Ogun, Ondo States
The Federal Government has called on host communities in Ogun and Ondo States to give maximum support to the proposed Dangote Industrial City and Deep Seaport project.
The Minister of Environment, Balarabe Lawal, represented by the Director of Assessment at the Federal Ministry of Environment, Rofikat Adebukunola Odetoro at the combined Environmental and Social Impact Assessment (ESIA) site visit, commended the Dangote Industries Limited (DIL) for its commitment to environmental sustainability and inclusive stakeholder engagement.
He described the investments as a transformative initiative that will create opportunities for economic growth and community development.
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Speaking during the three-day assessment tour across Ode-Omi Waterside Community in Ogun State and Araromi Community in Ondo State, Lawal expressed satisfaction with the level of community consultations and groundwork undertaken to ensure the project aligns with environmental regulations and the interests of host communities.
He stressed the need for inclusive dialogue, urging traditional rulers and community leaders not to overlook women and children during consultations. “I urge you to factor women into every engagement. Women and children are as important as every other member of the community and they have unique needs that must not be ignored. Please give this project every support possible. It presents enormous opportunities for youths, women, and children to benefit from employment and the mandatory corporate social responsibility initiatives that will accompany it.”
Speaking during the community engagement at Araromi Seaside Kingdom, Managing Director, Infrastructure and Logistics, Dangote Industries Limited, Capt. Jamil Abubakar assured the indigenes of transparency, fairness, and continuous engagement throughout the project’s implementation.
According to him, the President of Dangote Industries Limited, Aliko Dangote, is committed to ensuring Africa becomes more self-sufficient through strategic infrastructure investments.
“Our President is committed to positioning Africa for greater self-sufficiency, and Araromi has been chosen as the location where one of the world’s biggest deep seaports will be built. We are excited about the prospects of this project. We are here to listen to the community’s concerns and work together to achieve a win-win outcome for every stakeholder involved,” he said.
Abubakar further disclosed that Aliko Dangote had directed the project team to carry out a comprehensive needs assessment of the host communities and provide critical interventions regardless of the project’s stage of development.
Presenting the Environmental and Social Impact Assessment, Group Lead, Environment and Sustainability, Dangote Industries Limited, Dr. Adeyemi Adun, said the study was designed to establish the current environmental and socio-economic baseline of the host communities before project execution. He explained that the assessment would evaluate the quality of air, water and soil, as well as the socio-economic conditions of residents, in line with Federal Ministry of Environment guidelines.
“This phase of the project is intended to establish the current status of the community in terms of air quality, water resources, soil conditions, and socio-economic indicators, as required by the Federal Ministry of Environment. We also assure you that this project will have a positive impact on your communities, just as Dangote Industries has done in other host communities across the country”, Adun added.
A representative of the Ondo State Commissioner for Environment and Director of the Environmental Assessment Department, Isaac Ojo, welcomed the commencement of the assessment process, describing it as inclusive and beneficial to all stakeholders.
“We are delighted that this process has begun and that it accommodates every stakeholder. We are confident the project will benefit the communities, and we encourage everyone to give the Dangote team the maximum support required for its success”, Ojo said.
The Alara of Araromi Seaside Kingdom, Oba Adeoloye Olawole, also expressed strong support for the project, describing Aliko Dangote as “a genius” whose investments would accelerate the development of the kingdom. “We are counting on Aliko Dangote to help develop our kingdom. He is a genius, and we are ready to provide every support necessary to ensure the success of this project. We have always maintained that our community is peaceful, cooperative, and committed to progress. We want him to help develop our land as he doing all over Africa,” the monarch added.
The assessment tour brought together officials of the Federal Ministry of Environment, representatives of Ogun and Ondo State Ministries of Environment, local government officials, traditional rulers, faith-based leaders, community representatives, and officials of Dangote Industries Limited. Stakeholders held extensive discussions on their respective roles in ensuring the successful delivery of what is projected to become Africa’s largest deep seaport.
Communiques were drafted and signed by stakeholders at the end of each engagement at Ode Omi and Araromi, which drew hundreds of indigenes from across the surrounding communities. Consultants have also mobilised to the project site for the ESIA sample surveys.
Business
Inflation Falls to 15.43% as Food Prices Surge to 20.31% — NBS
Nigeria’s headline inflation rate fell to 15.43 per cent in July 2026, from 15.91 per cent in June, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The NBS, in its report released on Monday, said the July figure represented a 0.48 percentage-point decline compared with the previous month.
On a month-on-month basis, headline inflation stood at 1.57 per cent in July, down from 1.66 per cent recorded in June.
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The statistics agency explained that the decline meant the average price level increased at a slower rate in July than in the preceding month.
Despite the drop in headline inflation, however, food inflation continued to put pressure on consumers, rising to 20.31 per cent year-on-year in July.
According to the NBS, the increase in food inflation was driven by rising prices of commodities including rice, water yam and plantain.
Food inflation also increased significantly on a month-on-month basis, reaching 5.56 per cent in July, compared with 3.75 per cent in June.
The NBS attributed the monthly increase to changes in the prices of crayfish, fresh pepper, onions, carrots, rice, water yam, tomatoes, garri, plantain, beef, eggs, guinea corn, ginger and plantain flour, among other food items.
At the state level, Adamawa recorded the highest month-on-month food inflation at 17.02 per cent, followed by Lagos at 13.48 per cent and Borno at 13.26 per cent.
Meanwhile, Jigawa, Kebbi and Bauchi recorded declines of 3.68 per cent, 3.67 per cent and 1.85 per cent respectively.
On a year-on-year basis, Adamawa recorded the highest food inflation at 51.36 per cent, followed by Katsina at 30.84 per cent and Zamfara at 30.65 per cent.
Borno recorded a slight decline of 0.31 per cent, while Nasarawa and Kebbi recorded the slowest increases at 6.88 per cent and 12.50 per cent respectively.
The latest figures show that while Nigeria’s overall inflation rate eased in July, food prices remained a major source of pressure on households across the country.
Business
EFCC Brokers Structured Repayment Plan over Nestoil
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Olanipekun Olukoyede, has led a major breakthrough in the Commission’s ongoing investigation into the alleged criminal aspects of transactions involving Nestoil Limited and a consortium of its lenders.
At a meeting convened and chaired by the EFCC Chairman, a structured repayment plan was agreed between Nestoil Limited and the consortium of lenders as part of efforts to recover outstanding indebtedness. The agreement has already yielded significant results, with US$60 million recovered from Nestoil Limited and paid to the consortium during the course of the investigation.
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The payment by Nestoil, facilitated by a team of operatives from the EFCC Lagos Zonal Directorate 2 led by the Head of Investigation, Mr. Oguzi Moses, represents a significant milestone in the Commission’s commitment to promoting accountability, protecting the interests of financial institutions, and safeguarding depositors’ funds.
While welcoming the payment as an encouraging development, the consortium of lenders noted that it represents only the first phase of the repayment process, as a substantial portion of the outstanding debt remains to be settled. The lenders reaffirmed their commitment to working closely with the EFCC and other relevant stakeholders to ensure the seamless continuation of the recovery process until the outstanding indebtedness is fully liquidated.
The lenders also reiterated their commitment to supporting the EFCC by providing all relevant documents required for the diligent prosecution of the investigation, while ensuring that all parties comply with the law and that the recovery process remains lawful, transparent, and commercially responsible.
The EFCC reaffirmed its resolve to pursue the investigation to its logical conclusion and to ensure the full recovery of depositors’ funds in accordance with the law.
Business
NGOs Get Long-term Backing from NNPC Ltd, FIRST E&P
The Nigerian non-governmental organisations (NGOs) now have extra motivation to offer exceptional impact, accountability and governance as long-term funding beckons.
This is because the NNPC Limited/FIRST Exploration and Petroleum Development Company Limited Joint Venture has launched ‘Impact FIRST: Heritage’, a new multi-year grant programme designed to provide sustained funding and long-term partnership support to outstanding NGOs.
Biztellers reports that the inaugural Impact FIRST: Heritage Grant Presentation Ceremony was held recently in Ikoyi, Lagos, had representatives of the NNPC Limited/FIRST E&P JV, beneficiary organisations, development stakeholders and members of the media in attendance to mark a new chapter in the JV’s commitment to sustainable social investment.
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Impact FIRST: Heritage builds on the success of the flagship Impact FIRST grant programme, which was launched in 2024 to support innovative and impactful NGOs addressing critical social challenges across Nigeria. Since inception, the programme has provided support to 15 NGOs whose interventions have positively impacted more than 20,000 beneficiaries across the country.
Unlike the annual Impact FIRST grant programme, which provides one-off funding support to a broad pool of eligible organisations, Impact FIRST: Heritage is designed as a long-term partnership model.
The programme provides multi-year funding to previous Impact FIRST beneficiaries that have demonstrated strong institutional governance, measurable social impact, sustainable programme delivery and the capacity to scale their interventions responsibly.
Following a rigorous assessment process, five organisations were selected as the inaugural beneficiaries of the Impact FIRST: Heritage programme, including The IREDE Foundation, which provides prosthetic limbs and support services for child amputees; Asido Foundation, which supports the rehabilitation and reintegration of individuals living with severe mental health conditions; Cerebral Palsy Centre, which provides long-term care and support services for persons living with cerebral palsy; Health and Development Support Programme, which delivers eye care interventions and sight-restoring surgeries for underserved populations; and Health Emergency Initiative, which expands access to emergency healthcare services and supports first-responder capacity development.
Speaking at the ceremony, Executive Director, Corporate Services, FIRST E&P, Emmanuel Etomi, described Impact FIRST: Heritage as an important evolution of the Joint Venture’s social investment journey.
“Today, we celebrate five exceptional organisations whose work continues to improve lives, strengthen communities, and create opportunities for some of Nigeria’s most vulnerable and underserved populations.
“By providing long-term support to organisations that have already demonstrated strong performance and measurable results, we are helping them scale their impact, strengthen their capacity, and create even greater value for the communities they serve,” he said.
In his address, the Chief Upstream Investment Officer, NNPC Upstream Investment Management Services, Olanrewaju Igandan, who was represented by Usman Mohammed-Bello, Advisor, Community Relations, NUIMS, at the event, said the transition from an annual corporate giving programme to a multi-year grant framework reflects a mature, strategic approach to social investment that aligns with the imperatives of sustainable development.
While appreciating FIRST E&P for what he termed a “forward-looking initiative”, he further pledged NUIMS’ commitment to sustaining the collaborative journey towards impactful social value creation that aligns with national development priorities.
Responding on behalf of the beneficiary organisations, Pascal Achunine, Executive Director of the Health Emergency Initiative (HEI), expressed appreciation to the NNPC Limited/FIRST E&P JV for the support and confidence reposed in the selected organisations.
He remarked that, “this investment represents more than funding. It is a vote of confidence in the work being done by organisations across the social sector to improve lives and strengthen communities. We are grateful for the opportunity to deepen our impact and extend our reach to even more beneficiaries.”
Impact FIRST: Heritage underscores the NNPC Limited/FIRST E&P JV’s commitment to creating sustainable social value through strategic partnerships with organisations that have demonstrated the ability to deliver measurable and lasting change.
Through the programme, the JV aims to strengthen proven interventions, expand access to critical services, and support long-term development outcomes across healthcare, education, economic empowerment and community development.





