Business
Summit Bank Backs Landmark Hajaj-Zoec Digital Market
In line with its corporate vision, Summit Bank has reinforced its commitment to opportunities and business expansion, entrepreneurship, and Nigeria’s growing digital economy through its support of the newly-commissioned Hajaj-Zoec Digital Market in Kano. Established as a landmark commercial initiative, the digital market will enhance ecommerce and economic opportunities for the African market. It is projected to create more than 100,000 jobs and generate an estimated N50bn annually in economic activity.
Summit Bank joined government officials, industry leaders, and initiative stakeholders on Saturday for the official commissioning of the market. Among the dignitaries were Barr. Abdulkarim Kabiru Maude, Kano State Commissioner of Justice; Yusuf Ata, Minister of State for Housing and Urban Development, represented by his Special Assistant (Technical), Kabir Aminu Dutse; Ahmed Idris, former Accountant General of the Federation; Dr. Mansur Muhtah, Chairman of Bank of Industry; and Alhaji Jamilu Abdussalam, CEO, Hajjaj Real Estate.
In his remarks, Dr. Sirajo Salisu, Summit Bank’s MD/CEO, reaffirmed the bank’s belief that access to ethical finance and a thriving commercial ecosystem remain key drivers of sustainable economic growth.
Developed under a public-private partnership (PPP) involving Kano State Government, Hajjaj ZOEC Real Estate, and ZOEC Construction, with Summit Bank as a proud sponsor, the digital market was inaugurated in Tudun Wada, Sabon Gari, Kano. As a transformative project, the bank’s support reflects a commitment to supporting businesses, deepening financial inclusion, and building a more connected digital economy. “We believe this market is not only an opportunity for Kano State or Northern Nigeria but for the entire African continent. Instead of travelling all the way to China to purchase goods in bulk, traders will be able to come to Kano and place their orders here,” Alhaji Abdussalam said, during his remarks.
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While speaking during the ceremony, Dr. Salisu said the significance of the digital market goes beyond its physical infrastructure. “Markets have always been at the centre of enterprise. What the Hajaj-Zoec Digital Market represents is the next stage of evolution that blends physical and digital commerce into a modern ecosystem where businesses can grow, technology can thrive, and entrepreneurs can unlock new opportunities,” he said.
Dr. Salisu said supporting enterprise is a core purpose of Summit Bank as a non-interest financial institution. “We believe banking should do more than provide financial services; it should help create the conditions that allow businesses to flourish,” adding that when entrepreneurs have access to the right ecosystem, markets become stronger, jobs are created, families earn better livelihoods, and communities prosper. He said this is the kind of impact that Summit Bank supports.
Hajaj-Zoec Digital Market is designed as the largest, purpose-built modern business hub for electronic dealers, tech entrepreneurs, wholesalers, retailers, and investors across Nigeria and West Africa. It will provide more than 1500 trading spaces, according to Abdussalam, with state-of-the-art amenities and digital infrastructure. This development strengthens Kano’s longstanding position as a frontline commercial center in Nigeria, and a hub other region can feed into.
For Summit Bank, the development aligns closely with its broader mission of supporting productive enterprise through ethical, transparent and customer-focused banking solutions. The Bank believes that sustainable economic development is built not only through access to finance but also through meaningful partnerships that drive business growth.
The commissioning also reflects Summit Bank’s growing engagement with Nigeria’s SME sector. Through initiatives such as its recent Market Storm activations across key commercial centers in Kano, Kaduna and Abuja, the Bank has continued to deepen relationships with traders, entrepreneurs and small business owners, taking financial education and banking solutions directly to the communities where commerce happens every day.
Summit Bank said it remains committed to supporting initiatives that advance entrepreneurship, expand financial inclusion and strengthen Nigeria’s digital economy, while helping businesses build lasting value for themselves, their customers and their communities.
As an innovative non-interest financial institution, the bank continues to champion a banking model rooted in ethics, transparency, partnership, shared prosperity and responsible growth, connecting finance with real economic activity and contributes meaningfully to national development.
Business
Dangote Blames Marketers, IOCs for Lamu Refinery Protests
Nigerian billionaire and President of the Dangote Group, Aliko Dangote, has blamed local marketers and international oil companies for fuelling protests over land earmarked for his proposed $16bn oil refinery in Lamu, Kenya.
Dangote and the President of Kenya, William Ruto, performed the groundbreaking ceremony for the refinery in Lamu on Wednesday. This comes even as a court halted construction activities due to a land dispute.
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Dangote made the allegation while speaking to the BBC’s Focus on Africa programme, amid protests by some residents over compensation for land acquired for the refinery project.
The refinery is expected to have a processing capacity of 700,000 barrels per day when completed in 2030. Dangote disputed claims that the company had taken more land than it required, saying it only used the portion allocated to it by the Kenyan Government.
“They said some people are demonstrating; demonstrating about what? Have you ever seen people demonstrating against themselves in terms of development?” he asked.
Africa’s richest man dismissed the protests as “games played by local marketers and international players”, insisting the refinery would go ahead and would be ready by 2030 as planned.
The groundbreaking was also attended by the leaders of Uganda, Ethiopia, Togo and Benin. Dangote has offered regional governments a combined 30 per cent stake in the refinery, according to Reuters.
The billionaire insisted that the protests would not stop the refinery project, which he described as his largest proposed investment outside Nigeria.
The project is expected to become the largest refinery in East Africa and Kenya’s biggest infrastructure project since independence, surpassing the $5.1bn Standard Gauge Railway.
Dangote said the refinery would demonstrate that the success recorded with his 700,000bpd refinery in Nigeria could be replicated elsewhere on the continent.
“Lekki proved that it can be done, Lamu must prove that it can be repeated,” he said.
However, the Save Lamu campaign group has raised concerns about the environmental impact of the project on the local community. The co-founder of the group, Walid Ali, told the BBC that residents wanted to see the findings of the environmental impact assessment and the proposed mitigation measures.
A group of 133 Lamu residents had approached the Kenyan High Court in a bid to stop construction work. Following the legal action, activities including excavation and construction on the disputed land have been restricted pending the next court hearing, scheduled for October 14.
Dangote said the refinery would create about 60,000 jobs at the peak of construction, with local communities expected to benefit from the project.
The refinery will also include a 1,000-megawatt power plant designed to supply Dangote’s operations and other industries expected to establish businesses in the area.
Courtesy – The PUNCH
Business
Nigeria @ 66: Chevron Reaffirms Commitment to Partnership with Nigeria
As Nigeria marks its 66th Independence Anniversary, Chevron companies in Nigeria reaffirm their confidence in the country and their long-standing commitment to partnership, investment and responsible energy development.
For more than six decades, Chevron has contributed to Nigeria’s growth through oil and gas production, deepwater investment, gas development, local content, human capacity development and strategic community partnerships.
Chevron is a leading oil and gas producer and investor in Nigeria, with operations across the Niger Delta and interests in major deepwater assets. Jim Swartz, Chairman and Managing Director of Chevron Companies in Nigeria, said the company takes a long-term view of Nigeria, with continued focus on operational excellence, efficiency, innovation and investment across its portfolio. He noted that Chevron remains committed to building enduring relationships that enable human progress today and in the future.
To support sustained growth, Chevron is expanding and optimising its assets through exploration, infill drilling and production enhancement. The company supports the Petroleum Industry Act 2021 and the Federal Government’s efforts to strengthen the industry’s regulatory framework and investment climate.
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Since the PIA, Chevron has renewed and converted key joint-venture and deepwater leases; recorded discoveries at Meji NW-1, Delta South AA and Awodi-07; entered PPLs 2000 and 2001 through farm-in agreements; acquired deepwater block PPL 2010; and renewed Oil Prospecting Licence 215.
Chevron is also participating in strategic deepwater opportunities, including the announced Bonga Southwest/Aparo and Owowo/Usan developments. Completion of seismic acquisition across several deepwater leases is supporting future exploration, while planned infill drilling at the Agbami and non-operated Usan hubs is intended to mitigate natural production decline and sustain output.
Gas development remains another important pillar of Chevron’s contribution. Investments in the Escravos Gas Plant and Escravos Gas-to-Liquids facility have supported gas utilisation, reduced routine flaring and enabled production of high-quality products such as naphtha and refined diesel. Chevron also led the development of the approximately 700-kilometre West African Gas Pipeline, through which Nigeria supplies gas to Benin, Togo and Ghana, supporting regional economic growth and energy security.
Local content and human capacity development are central to Chevron’s operations. Nigerians account for more than 90 per cent of its in-country workforce. The company established its Local Content Policy in 1999, well before enactment of the Nigerian Oil and Gas Industry Content Development Act in 2010, and continues to collaborate with the Nigerian Content Development and Monitoring Board while creating contract opportunities for Nigerian companies and contractors.
Beyond its operations, Chevron and its partners invest in health, education and environmental conservation. In health, the Agbami parties have constructed and equipped more than 28 chest clinics, donated nine mother-and-child healthcare centres and provided a medical diagnostics laboratory. These facilities strengthen tuberculosis treatment, maternal and child care, diagnostics and emergency response. Chevron Corporation has also supported global programmes addressing HIV/AIDS, malaria and tuberculosis, with benefits extending to Nigeria.
Chevron’s education programmes have benefited more than 23,000 people through scholarships, infrastructure and capacity building. Since 2009, the Agbami Medical and Engineering Professional Scholarship has supported more than 16,500 students nationwide, including 715 first-class graduates.
Chevron Nigeria and its deepwater partners have also delivered 39 science laboratory complexes and 25 conventional and hybrid libraries, while encouraging students to pursue science, technology, engineering and mathematics.
In environmental conservation, Chevron supported the establishment of the 78-hectare Lekki Conservation Centre and donated it to the Nigerian Conservation Foundation in 1992; today, it supports research, education and biodiversity protection.
As Nigeria celebrates 66 years of independence, Chevron’s message is clear: the company sees Nigeria as a long-term strategic partner and remains committed to investing in energy development, Nigerian capability and sustainable national progress. Through disciplined investment, collaboration and responsible operations, Chevron intends to continue contributing to Nigeria’s energy security, economic growth and shared prosperity.
Business
Nigeria Must Cut Farm-to-Market Losses to Bring Down Food Prices – Tinubu
President Bola Ahmed Tinubu has said Nigeria must reduce losses between farms and markets as part of efforts to bring down food prices and ease the cost of living.
Tinubu made this known in his Independence Day address to Nigerians on Thursday, as the country marked its 66th anniversary.
The President said reducing the cost of producing and transporting food would be critical to making essential goods more affordable for Nigerians.
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According to him, the government is expanding mechanised irrigation and dry-season farming while improving access to seeds, fertiliser, storage and transportation.
He said the government was also building and completing roads, railways and ports to improve the movement of agricultural produce and connect farms and factories to markets.
Tinubu explained that when farmers produce at lower costs and fewer crops are lost before reaching the market, the savings can ultimately be reflected in the prices paid by consumers.
“Our logic is simple. When a farmer produces more cheaply, when fewer crops are lost between the farm and the market, when a manufacturer spends less on electricity, when a truck reaches its destination faster, and when the business environment fosters fair competition, all those savings will ultimately find their way into the price of goods in the market,” he said.
The President said the measures form part of his administration’s broader plan to lower the cost of living and move the country towards what he described as an era of shared prosperity.





